LANSING, Mich.--(EON: Enhanced Online News)--With Michigan’s real estate market on the rise, the number of foreclosed properties at value prices is quickly dissolving, but 23 of those properties have just been listed for auction.
“With real estate values back on the rise, lenders who foreclosed on properties in the last few years are finally ready to divest at today’s stabilizing values”
Maas Companies, a nationwide auction firm specializing in selling real estate, industrial and special assets, recently announced 23 prime Michigan properties, totaling $9.7 million. These lender-owned properties are online for auction until June 14, 2012 at 5 p.m. eastern daylight time at www.maascompanies.com.
Properties include numerous commercial and industrial tracts, new inland-lake condos and single-family dwellings, ski resort condos in Northern Michigan, open land for residential or commercial development, multiple-housing developments and single-unit investment properties. They range in location from Harbor Springs, to Grand Rapids and Muskegon, to the Lansing and Detroit areas.
Tyler Maas of Maas Companies in Rochester, Minn. stated, “Some of the residential properties have spectacular lake views in northern and western Michigan’s resort and ski areas. And the commercial development properties offer wonderful opportunities for investors to complete projects and enhance communities.”
Some properties will sell “absolute,” with the highest bidder winning and no minimum reserve. Other sales will be subject to owner confirmation.
“With real estate values back on the rise, lenders who foreclosed on properties in the last few years are finally ready to divest at today’s stabilizing values,” continued Maas. “And although the supply of bank-owned properties continues to decrease, in many cases investors can still purchase these properties at below market rates.”
Open houses, beginning Monday, May 21, as well as property details, photos and map locations can be viewed at www.maascompanies.com. Inspections can be arranged by contacting Maas Companies at (507) 285-1444.