Re: Real Estate Value?

Posted by rrlund on August 12, 2007 at 12:30:03 from (216.46.210.66):

In Reply to: Re: Real Estate Value? posted by Ray on August 12, 2007 at 12:16:36:

We're down to $2200 assesed around here,actual cash if you needed to make a quick sale,more like $1700.BUT,to be truthful,some of it is such poor ground it won't cash flow at $400. There is some ground next to one of my 60s that a guy bought on a land contract 20 years or so ago on a land contract for $400 an acre and he lost it. It's not like there is more profit in farming now than there was then. You really have to be particular about what you buy here. As I said,there is no development value in it,so unless you have some irrational fantasy that things are going to improve in Michigan,it's not a good investment.

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