Ann Arbor Real Estate Investors Club

11/02/2026

Multi-Unit Monday Market Minute

There are currently 1,309 multi-unit properties for sale throughout the MLS, including 66 in Washtenaw County.

No new Washtenaw County multi-unit listings came on the market during the past seven days—and 45 of the 66 active listings have now been on the market for at least 60 days.

That means nearly 70% of our local multi-unit inventory has been sitting for two months or longer.

As winter approaches, some of these sellers may become more willing to negotiate. That does not mean every older listing is a good investment, but it may be a good time to revisit properties that were previously priced too high.

The income, expenses, condition and financing still have to make sense.

If you would like information about any of the 66 properties—or want help analyzing one—please contact me.

10/30/2026

🏦 FRIDAY FORECLOSURE HOTSHEET

There are currently 266 active bank-owned properties across Michigan:

• 24 new in the past seven days
• 132 on the market for at least 60 days
• 95 priced below $100,000
• 190 priced below $200,000

The total inventory has barely changed since our last report. What has changed is the age of that inventory.

Nearly half—49.6%—of these properties have now been on the market for 60 days or longer.

Wayne County leads with 66, including 53 in Detroit. Genesee County has 18, Jackson County has 15, Oakland County has 13 and Macomb County has 12.

Washtenaw County currently has only two, both in Ypsilanti Township.

The statewide median asking price is approximately $145,000. That may sound attractive, but “bank-owned” and “inexpensive” do not automatically mean “good investment.” Condition, repairs, location and realistic resale or rental value still determine whether the numbers work.

The most interesting opportunities may be hidden among the 132 properties that have been sitting for at least two months—but each one still requires careful analysis.

Contact me if you would like to discuss your investment goals or evaluate a specific opportunity.

Brian Bundesen
The Bundesen Team at Real Estate One

10/21/2026

Tomorrow morning, we’re taking a deeper look at the 67 multi-unit properties currently listed for sale in Washtenaw County.

We analyzed every property using the same three questions:

• What is the estimated return at the asking price?
• At what purchase price would the property approximately break even?
• What price could reasonably support both positive cash flow and an acceptable investor return?

The results were revealing. Of the 67 listings:

• 44 have been on the market for more than 60 days
• 46 contained enough information for a preliminary financial analysis
• 21 had missing, incomplete, or questionable financial information

We’ll discuss the results, walk through the analysis method in plain English, and explain why an advertised income figure—or even an advertised cap rate—should never be accepted without verification.

This will be a practical, discussion-based session. You do not need to be an experienced investor or understand all the formulas in advance.

Please join us:

Thursday at 9:00 AM
Harvest Market Mezzanine
910 Briarwood Circle, Ann Arbor

Bring your questions, your calculator if you like, and your own perspective on what makes a multi-unit property a worthwhile investment.

Everyone is welcome.

Brian Bundesen
Ann Arbor Real Estate Investors Club

Send a message to learn more

10/19/2026

🏘️ MULTI-UNIT MARKET UPDATE

There are currently 1,346 multi-unit properties for sale throughout my Michigan MLS.

Here is this week’s snapshot:

• 80 new listings in the past seven days
• 788 properties on the market for 60 days or longer
• 69 active properties in Washtenaw County

The biggest number is the aged inventory: approximately 59% of all active multi-unit listings have been on the market for at least 60 days.

That does not necessarily make them bargains. Some are sitting because the asking price is not supported by the income. Others may have incomplete financial information, deferred maintenance or numbers that simply do not work with today’s financing costs.

But longer market time can create an opening for buyers who are patient, prepared and willing to do the necessary due diligence.

What about the 69 properties in Washtenaw County?

Join us this Thursday morning for our Ann Arbor Real Estate Investors Club session. We will take a deeper look at the local inventory, discuss what the numbers mean and identify which properties may be worth further investigation.

Experienced investors, new investors and the simply curious are all welcome!

10/18/2026

Writing my gratitudes this morning, this was on the list. I am thankful for the group of professionals and investors who gather together on Thursday mornings for the expressed purpose of heling each other. We say that in real estate, you are in business for yourself, but by plugging into us, you are not in business BY yourself. The market is really challenging right now on several fronts. Some are thriving, but many are discouraged. I have learned over several ups and downs that the best thing to do is get up, get in the game, and try one more time. Our little group provides a great platform to learn something new, get support, and walk out of each meeting with new knowledge, and a bit of new confidence moving into the day ahead.

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