Real estate in the Traverse City region of Michigan continues to be a promising prospect. There are significant commercial and residential projects in the works. Another area that shows promise is in the farming industry. According to one real estate source, one of northern Michigan’s biggest assets may be its farmland.
Michigan’s fruit producing areas, including those in the Traverse City region, grow fruit of comparable quality and similar yields to the fruit producing areas of the West Coast. One thing that the region has an abundance of that the West Coast lacks is continuing access to a sustainable water source. While California has a diverse agricultural output, it was also recently in a drought that lasted from 2012 to 2017.
California is home to a system of aquifers that produce much of the state’s water, especially in times of drought. During those times, the aquifer levels fall to as little as 25 percent of full capacity. The continuing danger of this could cause a shift in the farming industry and cause it to consider shifting production to Michigan.
People in Michigan considering real estate investments may wish to consider the possibility of investing in farmland. Real estate deals can be complex and an experienced real estate attorney can ensure that a person understands all the ramifications and details involved in the transaction. A lawyer can review the contracts, look at due diligence issues, address questions that may arise concerning titles, deeds or any other questions that may come up in the negotiating process. A knowledgeable real estate attorney can help smooth the path to a successful closing.