Land is hard to sell in certain areas. We sold 10 acres in the 90's that took a year before it sold. It sold after we changed real estate agents.

Do you know if there are issues where the property is located that might factor into why the property has not sold? Has the realtor shown the property and what kind of feedback did the realtor get? If you are using the same agent have you considered changing real estate agents? Some agents are not very good at selling land. In our case, we have bought land 4 times and sold once and there was a vast difference in the service provided by the agents. With the property we bought last year the real estate agent jumped through hoops for us while we did our due diligence. We did this living 6 hours away from the property.

The property we bought last year had been on the market 6 years and we bought it for 120,000 below the original asking price. When I asked our real estate agent why the property had not sold in 6 years he said banks in the area were no loaning money for land. We were able to pay cash.

I don't know what you can do to increase the value of your property but I would pull it off the market for 6 months and change agents. Also, call real estate agents where the property is located and find out if land is selling. Once you change agents you might get a better perspective of why the property has not sold. Maybe priced too high?

Your land looks really nice in the pictures with half the land wooded and half cleared.

Thanks for the responses. This land is located in Iron River, MI and has deeded access to a lake called Iron Lake. We have listed it with two different agents. The first was with this agency:

http://www.wildriversrealty.com/page-upper-michigan-real-estate-wisconsin-real-estate-wild-rivers-realty-1.html

We had very little interest (and agent wasn't very response) so we changed to this:

http://www.upriverland.com/real-estate/Upper-Peninsula-MLS/Vacant-Land/property/1084445-TBD-Iron-Lake-Unit-2-Meadowood-Shores-Site-Condo-Iron-River-MI-49935/?towns%5B0%5D=Iron+River&price_max=30000&idx_sort=price_high&order_by=L_AskingPrice&order_by_direction=DESC

When we joined the new agency they were originally a Century 21 agency but recently converted over to U.P. Riverland Realty.

The land is part of an association/condominium group (I believe it was originally developed by a company called Naterra Land and is now called Compass Land Consultants).

This is what the agent told me when we bought it:

I know the lot was surveyed about five years ago, so it's fairly recent. I don't think a soils test was done, but I know the company that originally sold the lot guaranteed that it was buildable. They did some borings either on the lot or right next to it. I'm not real sure about well depths. I'll have to check that out, but from what I remember they weren't that bad (if they were I would definitely remember that). There is electric and phone at the road side. I don't believe that there is natural gas.

Like I said, we didn't receive much feedback from the first agency but we have received some from the agency we have now. The agent has said there has been some sporadic inquiries but no offers. Here are a couple of comments that our agent has passed on to us:

Comments I’m aware of are they didn’t care for covenants, there were limits on number of animals that could be housed on property, too much field up front not enough trees, can’t really hunt with the lots behind it, -but all this is normal – and the right person is out there.

Your pictures don't show access to a lake. Where is the lake? Also, one of your problems might be that association/condominium group. With so much land, a buyer might like some independence. Also how close is shopping?

While it will be difficult to increase the value of the land doing any of the things you suggested, you can make it easier for potential buyers to see the possibilities. Do you have a septic permit (assuming it's on septic)? What kind of septic? Potential cost? Does it need a well? What is the cost? Are there utilities on/near the property? Where? What utilities are available? These are the questions that should be answered in your listing description. Make it sound like it's buildable and ready to go.

Ok, it does not looked overpriced and someone should be able to pay cash for it. It seems like a great deal compared to land we have bought.

kitasei had a good suggestion about the septic permit. That takes some of the unknown out of the property. I would get the soil test done for the entire area that is cleared since it would give a buyer options in where to build the house. We had another soil test done because we did not want to build in the location where the seller's septic was approved.

If you don't have to drill down deep you may be able to get a water test or permit without spending much money. In our case, due to elevation the only way to test the water is to drill a well. We got an estimate between 8,000- 10,000. The soil scientist and others who walked our property said we will have no problems finding water.

Thanks! The deeded access is approximately 1.4 miles away by road. Any ideas on how much a soil and septic test/permit would cost?

Also, I forgot to mention that I have been listing the land on Craigslist and have gotten a lot of responses. However, almost all inquiries are about whether or not we'd consider a land contract. I usually refer them to our agent and that ends any interest.

Where our land is located a septic permit is a couple of hundred dollars. It is good for 5 years with an option to renew. I googled septic permit where our land was located and got the names of a few soil scientists. During the due diligence when I called the county about permit information, they confirmed the guy we used was recommended by the county for septic permits.

Costs and renewals will vary dependent on the area where the land is located.

Thanks! I think I'll contact our real estate agent and see if she has anyone she recommends.

By the way, what is the purpose of leaving the land unlisted for 6 months?

In our situation, the soil scientist confirmed due to the amount of acreage and soil content that a septic would work on our property. He stated they no longer do a perk test. We did not get a septic permit because we had to have a house plan. He would have provided us with a document stating his analysis if we were selling the property.

I have been told by real estate agents when a house does not sell for years to remove it from the market (6 months) and relist it with a new agent. This theory might be incorrect when selling land. lol

Perform perc test. Will not be able to do it year-round, so it would be good to have it done already so you and prospective buyer don't have to wait to test=faster to close. Don't de-list it.

What about having it surveyed? The last survey was done years ago (probably 15 I think) and I'm not sure if the flags still remain.

Im curious to know what you used the land for when you purchased it?

We never really used it. It was going to be a vacation getaway (we planned on building on it eventually) but our kids got involved in sports and we don't have time to make it up there.

When we bought land we had a new survey done. When we sold our property, the survey was 20 years old and the prospective buyer had a new survey done.

kitasei and rrah were right on when they talked about helping potential buyers know that they can build and how they can build. Then they can evaluate whether the property is a good fit for them.

We just sold a vacant lot after ~18 months of having it on
the market. It was FSBO, our marketing was a sign in the yard + CL +
zillow. I'd get 1-2 calls a month, all asking the same half dozen
questions. I had a GIS map I'd mail them showing dimensions of the lot
and lakefront, and a copy of the deed restrictions.

Lots take longer to sell than houses, because there are fewer people shopping for land than shopping for a house. So be patient and provide lots of info to remove uncertainty and questions. Eventually the right buyer will come along.

Another thought is to find out why those on nearby properties bought. Have your agent figure out how to target that demographic. Are they weekenders that come from Big City X? Retirees looking for a quiet retirement home? Seasonal hunters? Find creative ways to target them instead of just relying on the MLS.

The lake is a mile and a half away from the property boundary? That's kind of a drag. You need the property itself to have more going for it than a distant "lake access". Joking the building issue hurdles like the septic would be a good step towards doing that. So would potentially building a small cabin that could serve as a bunk room space to a future home.