Is now a good time to buy large parcels of acreage and farms in Michigan? Institutional buyers think it is. Hedge funds, pensions, and REITS (real estate investment trusts) are buying up farms in the nations corn belt. Southwest Michigan has always been a great place to invest in acreage, especially if you can enjoy that investment as a vacation home. The state of Michigan offers tax incentives to owners of acreage of certain sizes.
The acquisition cost of acreage in Berrien County, as well as adjacent Van Buren and Cass counties are now in the $7000 per acre range. These are prices I have not seen since the mid 1990s.
Consider this... I know of 15, 25, and 150 acre parcels, within 10 to 20 minutes of Lake Michigan, less than 2 hours from Chicago, that have over corrected in price to the point where they can be purchased for the same price as flat farmland in the middle of central Indiana! And, these are not flat corn fields. I am describing the type of property one imagines building a vacation home or family compound on. Some with small lakes and streams, many with rolling, wooded, and bucolic hills.
Over the years, I represented buyers who acquired large parcels of acreage in southwest Michigan and Northwest Indiana with prices as high as $3.65M, and many under $2M.
Give me a call to discuss your next real estate transaction. Paul Zubrys (269) 783-5253.
Author:Paul Zubrys Phone: 269-783-5253 Dated: July 21st 2011 Views: 2,470 About Paul: I began my real estate career in 1987. Harbor Country Real Estate, Lake Michigan Lakefront Property,...
Do you know where the best beaches are located, and why? Don't worry, we do. Do you know which neighborhoods have deeded private beach rights? Which beaches have the lowest bluffs and easy beach access? Which lakefront homes are located within areas designated as High Risk Erosion? We know, because 255, 255); background-color: rgb(165, 165, 165);">Lake Michigan Lakefront Property and beach access real estate in Southwest Michigan is all we do.
Let's talk before you move forward with your next real estate transaction. You will be glad you did.
Paul Zubrys, Principal Broker / REALTOR
Southwest Michigan & Northwest Indiana Real Estate since 1987.