Michigan Land Grab

Residential Lots & Land, Commercial Land & Condos
Buy One, Some or All!   Broker Co-op 2%
Special Financing from 5% down.

Bid Deadline: November 11, 2009

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Bargains on the auction block

From the Detroit Free Press

Michigan's rough economy and oversupply of homes has created the backdrop for a September auction of nearly 400 new homes and lots owned by 20 local builders and developers.

"There is a lot of wealth in Michigan. There are enough people with enough financial wherewithal to buy property, and an auction brings them out," Tarver said.

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Hey, bidder! Going once.
Going twice. Sold!

From the Chicago Tribune

Until this year [2006], NRC Realty Advisors LLC hadn’t coordinated an open outcry auction of homes in 8-10 years. But with the real estate market in much the same shape it was in the early 1990s, NRC got back into them, as builders and lenders again look to auctions to dispose of homes and lots that aren’t selling through conventional means.

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