A daily journal concerning Lake Vermilion and surrounding areas.
Selected real estate, notes, stories, musings, and anecdotes.

Shop Til You.

November 30, 2010

It’s that time of year when consumers do what they do best.  They consume.

The collective efforts of the consuming masses have motivated the media to label our most productive days of consumption.  We are now well aware of the days called “Black Friday” and “Cyber Monday”.

It may be appropriate to add one more day for the determined real estate consumer.  Why not add a day after the other two?  We might call it “REO Tuesday”.

REO Tuesday will be THE day to consider a lender owned real estate offering.  As of today the local MLS system has about 2000 listings offered for sale.  Of that group about 4.5% are noted as bank or lender owner.  (The common term to note lender owned is “REO properties”.)

So here, with respect for REO Tuesday, is the total list of bank owned properties for your review and selection.  The listings cover an area from Ely to Grand Rapids to International Falls and the towns in between.

Shop early for the best selection.

67 residential properties priced from $9,900 to $324,900
9 waterfront residential properties priced from $29,500 to $749,500
9 vacant land parcels (including waterfront) priced from $29,900 to $249,000
1 multifamily property priced at $15,000
7 commercial properties priced from $39,900 to $1,390,000

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