So, I’ve spent the last several days researching the value of a lot of land that my grandfather owns. It’s in Michigan’s Upper Peninsula, in the southeast corner in Detour Township and sits on 100 feet of Lake Huron. He has owned it since 1993 and has never done any improvements to it. It’s near-raw land with thick white pine forest; it has a clearing on it just wide enough to turn a vehicle around and pop a tent on a little over half acre parcel. No one ever goes there, except me.
I learned of the lot in 2003 and instantly knew it’s potential as an amazing way to reach the Michigander’s “American Dream” of owning a piece of the great lakes. In the seven years I have been going, I have gone maybe a dozen times? In that time I am the only one that has been there, other than in passing. From time to time I would do some improvements, like make a path or build a fire pit, and the family would go by to see what I did. But largely, no one goes. This piece of land means so much to me, it is so close to me. It is where I first learned the beauty of the outdoors and to be by myself. I have sat around that fire multiple nights and just written in journals, and reflected about my past and my future. That lot found itself rooted inside me. From that time in 2003, I knew that someday I would own that land.
My family does not want the land. This is not good, as I have no say in it. Grandpa has three sons and multiple parcels of land. Everyone decided the easiest way to deal with the inheritance and the “proper sharing” was to set up a trust and put it all in the trust’s name; sell everything, then divvy up the cash three ways. Since that day that I got back home in the summer of 2003, I have been dropping hints that I would really like to inherit that land – that I NEED to inherit that land. Grandpa is still here, as healthy as ever, but the trust is established, ownership transferred, and one of his six Detour parcels is listed. My dad is the Grantor and Co-Trustee of the trust. He comes to mutual terms with everyone on actions but for the most part this is his puppy and he’s the one completing all the actions. Dad called me the other day that he was going to list the lost and I convinced him to hold off until 2011. He granted me that. I just can’t afford anything like that now but next year will be a different story.
In the meantime, I need to help establish value, concrete value, and make a decision with my wife and make a pitch to the family. My dad’s real estate agent is blowing smoke up his ass and said the lot is worth 50k when nothing up there is selling anywhere near that. Within an hour of research I discovered what my family had never known and was curious about, and laid to rest any dreams of a huge pay-off in a land sell. It was told to grandpa when he bought it in ’93 for 16k it was worth/previously purchased for 100k and he was getting a steal of a deal. The sales history: ’93 = 16k; ’90 = 12k; ’89 = 9k – that seems to be a pattern eh?
There are so many thoughts going through my head. This ways heavy. This is something that I knew would come some day, but I didn’t know when. I have day dreams about that lot more often that you would know. And as of late, non-stop.
This is not over, but just know, I want that lot.
Pypeline.
One Trackback