| Ivie Baker Kehoe Realty Inc. P.O. Box 496 901 N. M-18 Gladwin, Michigan 48624 989-426-7112 Toll Free: 1-866-891-6091 |
| In 2005 acreage was typically selling from $2800 to $4500 per acre. Long gone are the days of buying acreage for $500 - $1000 per acre. As bigger acreage becomes more scarce and higher in demand, the prices will keep increasing. Pricing per acre will vary, depending on the total amount of acreage being sold at one time, weather there is timber on the property, ponds, rivers, lake frontage or if there are any existing outbuildings present on the property. Typically, a nice wooded 10 acre parcel may list anywhere from $32,000 to $42,000, with $36,900 being the most common price tag. If a 10 acre parcel has a very limited amount of timber or is mostly pasture land, it could run from $30,000 to $36,000, with $32,900 being the most common price tag. A nice wooded 40 acre parcel may list anywhere from $99,000 all the way up to $169,000 and possibly more if the property has some unique features. As far as 60 to 80 acre parcels, they may list anywhere from $119,000 to $280,000. Most common price being $180,000 to $190,000. Acreage butting up to state land seems to be a hot item these days. Many people are looking for their own private secluded hunting or recreational paradise, to get away from their busy lives. Prices have seemed to be holding fairly steady the past 2-3 years, nudging up ever slowly. Many land owners offering land contract terms, might ask a little more for their property, because they are offering terms. If you are seeking to purchase vacant property, you should expect that the bank or seller will require at least 20-25% down payment. This is typical with most banks offering vacant land mortages or land owners who offer land contracts. If you are looking for a bank who offers mortgages on vacant land WITHOUT the buyer being required to build on the property over a certain amount of time, contact Ivie Baker and she'd be happy to forward you some information on some banks. |
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| What is Acreage Going for in Mid Michigan? |