Robert J Pliska, CRE, Managing Director, Sperry Van Ness/Property Investment Associates is featured guest on National Real Estate Auction Radio! http://youtu.be/ZbNG7cWO9hk
Overview of Detroit Market, Auctions and Govenment Surplus Properties. Regarding government surplus properties, a specifice example of the auction of 414 acres in a Detroit metroplitan suburb and its great impact on the neighborhood, the city and the state. It resulted in the elimination of $500,000 carring costs for the state of Michigan, the creation of a sustantial number of new jobs, put the property back on the tax rolls, obtained $31.5 million in sales proceeds for the state, eliminated blight in an upscale area and created a 100,000 square foot medical clinic, an 80,000 square foot shopping area, recreational areas for the city and provided the potential for senior housing development and other development. Similar opportunities can be accomplished in other areas.