Today we have a guest post from Mr Ed H. He is a resident of Big Crooked Lake in Kent County.

For me there are a couple things that make Big Crooked Lake unique. Probably the best feature is the lack of a public access. This drastically cuts down on the amount of watercraft traffic. Big Crooked Lake is a 150 acre all sports lake but it is not unusual to come out on a Saturday afternoon around 2 PM and not see a single boat on the lake.

We like that because we enjoy the quiet but that is not to say that we don’t appreciate an all sports lake because we do, just not all weekend. Unless it is a holiday weekend the watercraft traffic is usually very light until about 4 PM. 80 percent of the property owners are year round so they are busy doing things and normally don’t come out to play until later in the afternoon.

Another unique feature is the shoreline and the north end of the lake. The lake lives up to its name with a crooked shoreline, an island and a channel that eventually widens to expose a north end of the lake that is almost as large as the south end. The best thing about the north end is the shore being wetlands and not likely to ever be developed. You can either park or take a slow boat ride past that shore and look north of a clear blue sky day and believe you are in the UP.

When you look at property values amongst Kent County Lakes BCL does not rank with the Big Whitefishes, Murray’s and Bostwicks but that does not bother me at all. Although Murray has some character is also has a public boat launch with lots of parking and can get very busy at times.  Bostwick is pretty much round and boring to me and Whitefish has a huge landfill just east of it and if that does not turn you off when you get off at the exit the constant swarms of seagulls or highway noise might occasionally get your attention. All that being said it is hard to understand why the property values on this lake are lower but that works just fine for me. As my wife and I often say, Big Crooked Lake is the best kept secret amongst waterfront property in Kent County.

Today, we have a guest post from Mr. Aaron K.

Memories are contagious.  That’s quite obvious as I return to Pickerel Lake and beautiful Pickerel Lake Park for the first time in many years.  Located in Cannon Township just off  of Ramsdell Road, its very sight brings me back to a more youthful time, a time when fishing with my father and brothers was the best time of the summer.

A picturesque (though not entirely sheltered) place, Pickerel Lake is accompanied by expansive trails for strolling and enjoying the Park’s natural beauty.   Near the main pebble trail I see my first Garter Snake of the season.  Initially his presence is made known by a faint brushing sound in the grass just off to my right as I walk by.  After noticing the Garter, I look up ahead on the trail and see a Northern Water Snake basking on the trail.  My approach scares her back to the brush.

Of course, I am not here for the wildlife alone.  Memories are another reason.  I knew I would be reminded of the fond past of my childhood and early teen years when I came here.  It’s what I wanted.  As soon as I hear the blackbirds cackling in the nearby rushes and walk down the boardwalk across the Lake, a reminiscent smile resounds in my heart.  This is our secret.  Inner joy shouts in these quaint memories quietly relived. 

Pickerel Lake and its adjoining Park bring me back several years.  It’s part of the gorgeousness and native peace of the place.  Though the water is dark from rain, and I see no fish today, it does not matter much.  There is much more wildlife to observe.  Chipmunks and rabbits and other animals will greet you along the trails.

Whether statuesque herons or flitting swallows, birds are also abundant here.  When you visit in the spring or summer take a moment to listen to the songbirds speaking in the trees overhead.  There is something memorable about those sounds that will stay with you forever.  Pickerel Lake is just a memory at times.  But today, it becomes a pleasant reality once again. 

Today we have a guest post from Mr. Jim Thrower, an appraiser with Visser Appraisals Ltd.   Mr. Thrower has  experience  appraising  property on many of Michigan’s lakes and rivers. We thank him for sharing his expertise with us today.

While Michigan is home to over 11,000 lakes, the supply of quality waterfront property is limited. In contrast, the demand for waterfront property is high, as evident by typically smaller lot sizes.

As an appraiser working in West Michigan, I am often presented with the challenge of interpreting this specific market. As an impartial researcher I rely heavily on sales data to discover the market.

I’d like to pass along one of the more powerful tools in my waterfront property appraisal toolkit.

One of the better barometers in approximating the value of waterfront property (besides hiring a licensed appraiser) is price per lake-frontage foot. To do this you will need to find recent comparable sales.

Below is an example of how the price per foot methodology can be used as a barometer for value.

Total Sale Price / Total Front Feet of Waterfront: Price per Front Foot

Example:

The owner’s property has 0.40 acres wi`th 102’ of Lake Frontage located on an all sports lake with normal traffic counts in West Michigan.

Comparable #1 sold for $60,000 and has 0.45 acres with 102’ of Lake Frontage located on the same lake but next to a very busy public access launch.  Price Per Front Foot: $588

Comparable #2 sold for $74,000 and has 0.40 acres with 103’ of Lake Frontage located on the same lake with normal traffic counts. Price Per Front Foot: $718

Comparable # 3 sold for $77,500 and has 0.50 acres with 103’ of Lake Frontage located on the same lake with no neighbors and a private drive. Price Per Front Foot: $752

Comparable # 4 sold for $106,500 and has 0.40 acres with 55’ of Lake Frontage located on a private drive in a peninsular with views of the entire lake. Price Per Front Foot: $1,936 Of the four comparables sold comp’s #2 & #3 are most similar with a price per font foot range of $718 – $752.

If we take $718 x 102’ = $73,236

If we take $752 x 102’ = $76,704

A range of $73,236 to $76,704 is very tight and an excellent indicator of value.

The price per font foot methodology is a very useful valuation tool; however, it does have its weakness. Often there are non-quantitative factors that should be factored into the valuation (see comparable #4).  

A few examples of these would be:

1. Location

2.Views

3. Bluff

4. Proximity and conformity with neighbors.

5. Zoning Restrictions

An appraiser’s ability to interpret these factors comes from a combination of market research and experience.  Maybe this weekend I’ll brush up and take the boat for a little research.