Ingham County Land Bank sees home sales increase

Paul Henderson
Lansing State Journal
September 23, 2012

Charnita Alexander of Lansing knew she wanted a home for her family.

“It’s the all-American dream - a place to call your own and to be free do to whatever you want,” Alexander, who currently lives at a co-op in south Lansing, said.

Alexander, along with her two daughters and niece, took part in the Ingham County Land Bank’s fall home showcase Sunday afternoon.

“We want ownership and that’s what we are looking for,” Alexander said.

The Land Bank, which has been around since 2005, has sold 40 low-cost, energy efficient and modern homes this year and more than 100 since its inception.

Prices for the 16 homes in Lansing range from $59,900 to $113,000.

“We have invested more in these homes then we will sell them for,” Ingham County treasurer and Land Bank chair Eric Schertzing said. “Part of the program is jobs, employment, money and keeping the tradeworks going, and we certainly have been able to that with our effort.”

Nearly $10 million has been spent on the project in the past two years, with a majority of the funding coming from the Obama administration’s recovery act.

Schertzing said there has been additional funding from the state and county government as well as the Bush administration in 2008.

“Some of those dollars, as we sell homes, recirculate and we get to spend those again,” Schertzing said.

The real estate project has increased its sales each year since 2006, when just one home was sold.

Schertzing said the best part of the program is seeing families come back to Lansing.

“Almost 45% of the buyers are moving into the Lansing properties from outside the city of Lansing,” Schertzing said. “I know we are giving families superior quality and energy efficient homes.”

Chad Camplese and his wife Jennifer moved back to East Lansing from Maryland a few years ago and are looking forward to finding their new home.

“There are beautiful houses that they’re building and remodeling and it is a great way to pick up the neighborhood,” Chad said.

Schertzing refers to the newly renovated and rebuilt houses as “aspirational homes.”

“Not every home in the neighborhood is going to be like this, but people over time will be able to move toward this as the economy and the neighborhoods recover,” Schertzing said.

And for the aspirational homeowners, looking for a new house is a fun experience.

“I love the different layouts - each house has their own unique personality,” Alexander, who hopes to buy a home before the snow falls, said. “It is an awesome journey, so we are looking to realize that dream very soon.”