Mooers Realty Maine Real Estate Blog
When Maine Land Was 100, 250 An Acre To Buy, Enjoy.
With Maine land, for many it is living life one acre at a time.
Because the desire is to live a life with less consumption. Being sensitive to what is healthy mentally, spiritually, physically. To be balanced with a day of day of independent moderation.
But on a Maine farm, working the land is passion that drives the motivation.
To find a few things you do well in the tilling, planting, culitivating, harvest.
To put your heart and soul into those outdoor working the Maine land endeavors that define you.
In the late 1970's, early 1980's when I studied, passed my Maine real estate brokers license exam, Maine land was pretty easy to sort, grade, price.
To price it meant cut over Maine woodland with no or hard legal access could mean $100 per acre for fair market value.
Add a brook, some attractive, generous owner financing to the Maine land and the figure could bump upward. If it was a total swamp with prehistoric animals roaming it and spooky, chain saw that price a notch or two.
Maine land owner financing needed to avoid the bank that was not so peachy keen about making mortgage loans that could not be dumped. Sold on the secondary mortgage market like house loans can be packaged and peddled.
The seller carrying the terms on the Maine land being sold made a nice monthly annuity income stream.
As long as the buyer could swing the payments.
If they were not too high and choke the goose that layed the golden egg.
Prime farm ground with the right soil, drainage and easy access could command $250 per acre.
For our neighbors across the border into Canada they deal, peddle hectares not acres of land measurements to keep score of the size of the parcel for sale.
That same prime Maine farm land now can fetch in the neighborhood either side of $1000 an acre. in Canada, it was closer to three, four times that per same size square of land.
No, you can not break off one acre of the dirt. And get that kind of volume low low price. Not able to sample for the per unit price factor of a larger parcel of forty acres, hectares or more in Maine, Canada, anywhere.
The first Maine acre of land can cost anywhere from $1500 and up.
Depending on what it is, where it is. If it is in a hole, swamp, a zillion miles from a town for conveniences, has power or year round access or not, is on a Maine lake, river, pond, etc.
Or somewhere else inbetween the rock and a hard place. Or somewhere sweet, neat, complete.
The whole nine yards so to speak with Maine land, with all the bells and whistles is going to cost you young grasshopper.
With a big view in your lap and waterfront with a beach to enjoy the Maine land can command a high price on the open real estate market.
If the supply and demand for it are low and high together respectively.
Like the answer to the question what is a diamond, some other precious gem worth, the value of Maine land depends on the variables.
On the Maine land itself, the properties surrounding it. That bring it up or down in value. Because of desirable or not so much in that department for features happening around the Maine land acreage.
Back in the 1960's buying land in Maine for $50 to $60 per acre was not uncommon.
Add a rickety old home and maybe the last days of a Maine farm barn, a few out buildings still standing could be included in the trade.
Thrown in for good measure for free. Because they were already there. To tear them down would mean added expense.
In the early 1980's when an oil embargo and variable interest rates around 16% were adjusting up up up, a Maine farm with so so land, butchered wooded sections and a rag tag home, maybe auxillary buildings such as they were.
Could sell for $30,000 to $50,000 with 30 to 100 acres of Maine land wrapping around the farm, wooded sections. This Maine real estate broker of 34 years experience listed, marketed, sold lots of land, farm properties in this price bracket.
Easy to say why didn't folks gobble up all the Maine land they could to hold it as an investment?
Times were tough, money came dearly. Maine farming is an honest life with hard work, not glamorous conditions to hope and pray. To stay on the land.
And some did scrimp, save and squirrel away a chunk at a time.
Adding to the inital Maine land purchase by expanding when neighboring parcels became available at a reason price. Not for a King's ransom or the need to sell a few of your duplicate organs to make the sale happen.
So you could feel good about looking out over your Maine farm, woodland acreage spread.
Maine land, think of the space and what it can do to a person's insides. Self reliance. Independence. Raising kids who know work ethic that will serve them well in life. Creating food for your own table that is rich, healthy, pesticide free. Heating with wood, a natural renewable resource. Peddling the extra of both from the Maine land for others to purchase and enjoy. The fruits of the labor on your Maine land.