Ann Arbor Real Estate Investors Club

10/16/2026

🏦 FRIDAY FORECLOSURE HOTSHEET

The statewide foreclosure market has barely changed over the past two weeks.

There are currently:

• 265 active bank-owned properties across Michigan
• 23 new listings from the past seven days
• 120 properties on the market for at least 60 days
• 113 additional properties pending

Where are the active listings?

Wayne County leads with 69, including 55 in Detroit. Genesee County has 18, while Macomb and Oakland counties each have 14. Jackson County has 12 and Berrien County has 10.

Interestingly, there are currently no active foreclosure listings in Washtenaw County in this report.

The 113 pending properties tell us that buyers and investors are actively purchasing bank-owned real estate. At the same time, 45% of the active inventory has been sitting for at least 60 days.

That combination can create opportunities—but “bank-owned” does not automatically mean “bargain.” The purchase price, condition, repair costs and realistic resale or rental value still have to make sense.

Contact me if you would like to discuss your investment goals and the opportunities currently available.

The Bundesen Team at Real Estate One
Twice the Service, Double the Commitment

10/14/2026

🏘️ WHEN THE NUMBERS DON'T WORK... KNOWING WHEN TO WALK AWAY!

☕ JOIN US TOMORROW AT 9 AM!

This Thursday, we're changing things up at the Ann Arbor Real Estate Investors Club!

Instead of our usual Core Competency presentation, we're opening the floor for a timely discussion about the challenges of investing in today's real estate market.

🏠 Asking prices that don't make sense.

📉 Cash flow projections that don't add up.

💰 Financing and operating costs that eat away at returns.

🤔 And the biggest question of all: When is the smartest investment decision to simply walk away?

Let's compare notes, share experiences, and talk about what we're actually seeing in the market.

No formal presentation. No homework. Just good coffee, good people, and an honest conversation about real estate investing.

📅 Thursday, October 15

🕘 9:00 AM

📍 Harvest Market

Whether you're an experienced investor, just getting started, or simply curious about real estate, you're welcome at our table!

Bring your questions. Bring your experiences. Bring a friend!

— Brian Bundesen
Ann Arbor Real Estate Investors Club

Send a message to learn more

10/13/2026

Michigan Multi-Family Market Update
Here’s a quick snapshot from the Michigan MLS.
There are currently 1,346 multi-family properties on the market.
In the past 7 days, 76 new multi-family listings came on the market.
But here’s the number that really caught my attention:
769 multi-family properties have been on the market more than 60 days.
That means about 57% of the active multi-family inventory has been sitting for at least two months.
So what does that tell us?
The market is still active. New properties are still being listed. But a large share of the inventory is not moving quickly.
For investors, this does not mean every older listing is a deal.
But it does mean the best opportunities may not be the newest listings.
They may be properties that have been sitting, reduced, overlooked, poorly presented, or owned by sellers whose expectations are starting to shift.
This is the kind of market where the numbers matter more than the headline.
I’ll be doing a deeper analysis in the next couple of days.
If you’re looking at multi-family properties and want help understanding what actually makes sense, give me a call.
Brian Bundesen
The Bundesen Team | Real Estate One

10/07/2026

🏠 PROPERTY MANAGEMENT 101 — TOMORROW AT 9 AM!
Buying the property is only the beginning.
What happens after you buy it can determine whether you have a profitable investment—or a very expensive headache.
Tomorrow's Real Estate Investing Core Competency session focuses on three keys to effective property management:
🔑 Finding Good Tenants
🔑 Increasing the Value of Your Property
🔑 Running It Like a Business
We'll talk about tenant selection, Fair Housing, preventative maintenance, managing expenses, documentation, reducing risk and creating systems that make owning rental property easier and more profitable.
And you don't have to manage your own properties to benefit. Every rental property owner should understand how good property management works.
📅 Tomorrow — Thursday
⏰ 9:00 AM
📍 Harvest Market — Mezzanine Level
910 Briarwood Circle, Ann Arbor
Free to attend. New investors and experienced investors are both welcome.
Come learn, ask questions, and connect with other local real estate investors.
Ann Arbor Real Estate Investors Club
Learn. Connect. Invest

Send a message to learn more

10/02/2026

🏘️ ANN ARBOR MULTI-UNIT MARKET: Sellers Are Adjusting

Here’s an interesting snapshot from the Ann Arbor multi-unit market:

There are currently 11 multi-unit properties that have been on the market for more than 60 days.

👉 8 of those 11 — 73% — have already had price reductions.

And these aren't all small adjustments:

• $425,000 → $360,000
• $380,000 → $349,000
• $1.350M → $1.049M
• $1.100M → $1.049M
• $899,000 → $725,000
• $590,000 → $550,000
• $549,000 → $534,000
• $574,000 → $499,000

📉 Average price reduction: 11.5%

💰 Combined reductions: $752,000

The largest individual reduction was more than 22%.

What does this tell us?

Sellers can ask whatever they want for a property — but eventually the numbers have to work for the investor.

When a multi-unit property sits for 60+ days, the market begins providing some very useful feedback. And right now, a number of Ann Arbor sellers appear to be listening.

For investors, that doesn't automatically mean these properties are bargains. A price reduction and a good investment are two very different things.

The next question is:

Do the rent roll, expenses, taxes, financing, and cash flow actually support the NEW price?

That’s where the analysis begins.

— Brian Bundesen
Ann Arbor Real Estate Investors Club

10/02/2026

🏦 FRIDAY FORECLOSURE HOTSHEET

There are currently 263 active bank-owned properties available across Michigan through the MLS.

• 25 were newly listed during the past seven days
• An additional 115 properties are already pending

It has been two weeks since our last update, when 269 properties were active. Despite new properties entering the market, active inventory has declined slightly.

The 115 pending sales are especially noteworthy. Buyers and investors are not simply watching these properties—they are purchasing them.

Foreclosure activity has also been rising nationally, although distressed properties remain a relatively small part of the overall housing market. This is not another 2008, but it is a trend worth following.

And remember: “bank-owned” does not automatically mean “bargain.” Condition, repair costs, location and realistic market value still determine whether the numbers make sense.

Interested in learning what is currently available? Contact Brian to discuss your goals.

The Bundesen Team at Real Estate One
Twice the Service, Double the Commitment

09/30/2026

Who’s on YOUR Power Team?

Real estate investing takes more than finding a property. It takes people you can count on.

Join the Ann Arbor Real Estate Investors Club tomorrow at 9AM for Core Competency #9: Building Your Power Team.

We’ll focus on three circles:

🔹 Inner Circle: Who helps you think, plan, and stay accountable?
🔹 Support Circle: Who helps you evaluate, finance, and manage your investments?
🔹 Service Circle: Who gets the work done?

Come with questions, share a trusted resource, and meet people who could become part of your team.

📅 Thursday, October 1 — 9AM
📍 Harvest Market, Mezzanine Level
910 Briarwood Circle, Ann Arbor

Build your team BEFORE you need it, so you HAVE it WHEN you need it!

New and experienced investors are welcome. We have a seat at the table for you!

09/28/2026

🏘️ MULTI-UNIT MONDAY: 62 PROPERTIES ON THE MARKET

This week’s review identified 62 active multi-unit listings in Washtenaw County, up from 58 last week.

A few numbers really stand out:

• 27 of the 62 have been on the market more than 60 days
• 35 of the 62 are located in the City of Ypsilanti
• Seven listings were added, while three came off the active list
• Two continuing listings reduced their asking prices

Having more than half of the county’s available multi-unit inventory concentrated in Ypsilanti is unusual. Combined with the large number of older listings, this may create negotiating opportunities—but inventory alone does not make a property a good investment.

Two major challenges continue to face buyers:

First, many MLS listings do not include enough reliable income and expense information. Rent rolls, utilities, insurance, maintenance, vacancy and capital expenditures are often incomplete or entirely missing.

Second, the property-tax increase following a sale can dramatically change the numbers. A property that appears to break even using the seller’s current tax bill may not produce adequate cash flow after taxes are recalculated for the new owner.

Financing is another hurdle. Even some of the better relative opportunities do not currently achieve a conventional 1.25 DSCR at asking price.

The lesson is not that there are no opportunities. It is that buyers need a disciplined process for separating a genuinely promising property from one that simply has an attractive listing description.

Want to strengthen your investment-analysis skills? Join us this Thursday morning for our Core Competency session.

You are also welcome to contact me individually to discuss your goals, investment criteria and plans. If you would like a copy of my complete September 28 Multi-Unit Market Screening Report, send me a message.

Brian Bundesen
The Bundesen Team at Real Estate One
📞 (734) 678-9032

09/26/2026

The rental looks profitable. But whose property tax bill are you using?

Here’s a Michigan investing question I wish more buyers asked before making an offer.

A listing might show $6,000 a year in property taxes. You put that number into your spreadsheet, and the cash flow looks promising. But that is the current owner’s tax bill. After a sale, Michigan’s taxable value generally uncaps the following calendar year. Your tax bill could be higher.

For illustration, if you estimate your future taxes at $9,000 instead of $6,000, that’s $3,000 less annual cash flow, or $250 less per month. On a small rental, that can change the offer you’re willing to make.

Before you trust the numbers on a Michigan investment property:

Check the current taxable value and whether the property has a principal residence exemption.

Estimate taxes for your ownership and intended use.

Run the deal again using that estimate, along with realistic insurance, repairs, vacancy and management costs.

The listing’s tax figure tells you what the seller pays. Your analysis needs to answer what you might pay.

What expense has surprised you most after buying a rental?

09/25/2026

Who says there are no bargains in real estate?

I pulled 821 active Michigan MLS listings priced at $50,000 or less. The biggest concentrations are Wayne County (414), Genesee County (187), and Saginaw County (57). Detroit accounts for 370 of the listings; Flint has 173.

There are 315 entries below $25,000. So yes, the prices caught my attention.

But I wouldn’t call all 821 bargains. The $1 listings are auctions. Another 53 listings share a single address in the Grand Traverse area. And a cheap house can get expensive quickly once you account for repairs, taxes, insurance, and carrying costs.

The opportunity is in finding the properties whose numbers still make sense after we check the details.

Have a Michigan location and budget in mind? Contact me at (734) 678-9032. We can talk about what you’re looking for; before I send a curated list of specific properties or arrange tours, we’ll review the buyer agency disclosure and sign a written buyer agency agreement.

Brian Bundesen | The Bundesen Team at Real Estate One