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A Farm of My Own:  Might have our Farm - Make that Got our Farm  |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
 Posted - Sep 20 2012 : 1:40:34 PM
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We've done it! We found 10 acres with a 3 bedroom house, barns, loafing sheds, chicken coops, and water rights. We've got our contract signed but now we have to go through all the rest of the hoops of well and septic inspections, house inspection, and property appraisal. The appraisal will be the worst because of the loan type. It isn't a big loan but the conventional guys sure don't like to loan on a rural property that has the possibility of making an income. Sounds dumb to me but that's the type of red tape and hoops we get to jump through these days. Buying our first house wasn't nearly this bad but that was four plus years ago, right before the housing crash.
If anyone has any good ideas for names I'd appreciate it. I'd like to work Abner into it. Although that isn't our name it is the name of the family that built it and it sits at the end of Abner Street. We don't have any critters other than our aging border collie right now but we'd like to eventually. Now that we're getting some space chickens and maybe goats or sheep are probably in our future.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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Edited by - KatTylee on Feb 27 2013 1:33:15 PM |
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Betty J.
True Blue Farmgirl
1404 Posts
Betty
Pasco
WA
USA
1404 Posts |
Posted - Sep 20 2012 : 1:56:04 PM
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You are so lucky to live in Nebraska. I was born there and lived several years of my very young life on my Grandpa's farm between Alliance and Berea. I still dream of owning the property the building stand on, but the fact that I am 70 yo pretty well defeats that.
Betty in Pasco |
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Bear5
True Blue Farmgirl
13055 Posts
Louisiana/Texas
USA
13055 Posts |
Posted - Sep 20 2012 : 3:50:33 PM
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Wonderful for your family to have such a great farm. Keep us posted.
Marly
"It's only when we truly know and understand that we have a limited time on earth- and that we have no way of knowing when our time is up- that we will begin to live each day to the fullest, as if it was the only one we had." Elisabeth Kurler-Ross |
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marlee
True Blue Farmgirl
1650 Posts
Marlene
DeRidder
Louisiana
1650 Posts |
Posted - Sep 20 2012 : 6:29:10 PM
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How about Abner's End, Abner's Oasis, Abner's Paradise, Abner's Wildside.
Hope everything goes well!
Marlee
God is the painter, he paints the picture. And his son builds it, for he is the Master Carpenter! |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Sep 20 2012 : 7:35:29 PM
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Thanks ladies. I'm very excited to be getting our farm and to be in Nebraska. Betty, I'll be just outside of Scottsbluff. I used to live just north of you in Moses Lake. Washington isn't a bad place to be either.
The best part of this will be raising my two little ones outside of town. I'm excited for them to be able to run and play on 10 acres and not worry about traffic. We'll be at the end of the road. We have the first of our inspections on Monday. Then we'll have an inspection on the well and septic and the appraisal.
My husband and I have kinda joked (and kinda been serious) that he gets to buy me my farm now that I've put him all the way through grad school. I'll hopefully get some good photos on Monday that I can put on here.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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nubidane
True Blue Farmgirl
2916 Posts
Lisa
Georgetown
OH
2916 Posts |
Posted - Sep 23 2012 : 08:09:53 AM
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Katrina
I am an appraiser & I would recommend checking out Farm Credit Services. Very competitive rates, & they don't freak out at a few outbuildings. I have 2 frineds that have loans with them & they are well pleased. I know when I do appraisals for most companies I have to discuss whether they are income producing etc.
Good Luck! |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Sep 25 2012 : 07:43:12 AM
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Hi Lisa,
We did look into the FCS. We just couldn't get the rate that we could get otherwise. It is a bummer conventional won't loan on an income property. There are some great interest rates right now that we can't take advantage of. Oh well. We seem to have passed our first inspection yesterday although we don't have our official report yet. A few problems were found involving water but they appear to be basic weekend projects to take care of. Things like the toilet float valve needs adjusted so the toilet doesn't overflow.
Lots of windows need replaced, the furnace is old, so is the water heater, and the whole house is old. We knew all that. We did discover that what we thought was ceramic tile is actually plastic tile. I'd never seen or heard of plastic tile. That will be coming out. :) The main thing is that the property needs someone to live there and take care of the buildings. I don't think they have been taken care of for at least 10 years and probably longer. At least they have good bones.
Now we need to get through our well and septic inspection that is tomorrow and the appraisal (not sure when that will be).
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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jan49829
True Blue Farmgirl
2428 Posts
Janet
Gladstone
Mi.
USA
2428 Posts |
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Room To Grow
True Blue Farmgirl
974 Posts
Deborah
Kingston
Georgia
USA
974 Posts |
Posted - Sep 27 2012 : 07:28:53 AM
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Sounds WONDERFUL....congrats!!!
now we are on our forever farm. God has blessed us. |
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Fiddlehead Farm
True Blue Farmgirl
4562 Posts
Diane
Waupaca
WI
USA
4562 Posts |
Posted - Sep 27 2012 : 4:02:39 PM
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Congratulations! How about Abner Acres!
http://studiodiphotosite.shutterfly.com/
farmgirl sister #922
I am trying to be the person my dogs think I am.
I get up every morning determined to both change the world and have one hell of a good time. Sometimes this makes planning my day difficult.
- E. B. White |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Sep 28 2012 : 07:17:07 AM
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Thank you everyone. I like Abner Acres. We've also been calling it Abner Place. We'll see what it ends up being. We've had our well inspection should have results sometime next week. I'm kind of hoping the whole process gets stepped up a bit. We are hearing now that our rental has an offer in on it and the potential buyer wants it sooner rather than later. Eeek! I might have to see if we can rent from our seller for 2 weeks or something before we actually take posession (sp?) of the house. So here I go packing again. I just moved into our rental in August. At least I haven't unpacked everything from that move. Hopefully with this one I'll get rid of a lot more stuff too. I realize that when you have a company move you and pack you, you don't get rid of anything because you don't have to lift and carry it yourself up-teen zillion times. :)
Here's hoping all of our timing works out...
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Sep 28 2012 : 2:17:12 PM
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And now the bad news... The bank isn't thrilled with the things in the inspection (I didn't think they were that bad) and they don't seem to want to do financing until some things are done on the house. That's great and all but we aren't doing them prior to closing on the property. So, it is back to the seller to see if he'll take care of the stuff. If he won't? Well, he can either go back to a much lower "as is" cash offer or we can look for something else I suppose. :( I want the place but I'm not about to dump a bunch of money into a place I may not have permission to work on, nor do I own. Just seems like a dumb thing to do. Plus, if he wants a cash offer then we'll have to go low enough to have money to fix some things. Frustrating day but let's just hope it gets better.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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Betty J.
True Blue Farmgirl
1404 Posts
Betty
Pasco
WA
USA
1404 Posts |
Posted - Sep 28 2012 : 2:42:47 PM
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Katrina, I'm keeping my fingers crossed for you. It is amazing to be able to set a goal and arrive at that place. Be patient and it will all come through for you.
Betty in Pasco (just south of Moses Lake) |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Sep 29 2012 : 12:14:38 PM
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Big ol' fat sigh. The seller doesn't want to do any repairs what-so-ever. Well, that would be fine if our offer was an "as-is" but it wasn't. It was at first but he turned that one down. Oh well. It is looking like we aren't meant to have that one. We'll just have to see what happens in all the dealings. Maybe he'll come around if he realizes the sale will walk away and then again maybe he won't. Such as life. At least we are in our rental and even if it sells we can't be kicked out immediately. We've been doing the legal research to make sure of that. I'd really rather not be in a hurry to find a place with two little ones. Well, onward we go...
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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txbikergirl
Farmgirl in Training
46 Posts
Cindy
Elkhart
TX
USA
46 Posts |
Posted - Sep 30 2012 : 12:11:06 PM
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HANG in there! I just went through the ups and downs you are talking of, and I can now say we that as of Friday we are the proud owners of our own little homestead/farm!
We made a few offers before this one, and one of those felt like it was "meant to be", but in the end we found the perfect one for us and it was good that none of the others had worked out.
Also, look around at bankers, mortgage brokers, credit unions, etc, We thought an FHA was the way to go, we could put less down and save more for the improvements, a tractor, etc. We finally wound up with a GREAT credit union loan officer that showed us by going conventional that we could put 5% down and still put in less cash at closing - because all the fees related to FHA and other loans are so stiff. So more down pmt but less cash out the door - perfect!
Also, conventional loans don't care as much about what is/isn't done to property as long as it appraises. We have so backed off from needing work to be done, it will all come in time and we would rather have a smaller mortgage than the perfectin that most people demand up front. I am channeling my grandmother's generation to give me the peace and satisfaction of just having a piece of ground to call our own, and I feel so blessed.
I'll be sending good thoughts your way. And remember that the journey is half the fun, not just the destination!
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Bread the Mary Jane Way
- started Mother 6/28/09
- Hodgson Mill Organic unbleached flour
- well water w/ reverse osmosis filter
- feeding twice as much once a day to eliminate excess hooch
- first sourdough loaf 7/25/09 - GREAT!
- using KA bread flour for loafs |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Oct 01 2012 : 09:37:05 AM
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Congrats on getting your farm! I feel like we'll get there when it is meant to be. There has to be a reason this one didn't work out for us. There are a couple more places that we'd like to take a look at. And we'll keep at the financing folks. Apparently around here conventional doesn't want to loan on a potential income property. Something about the type of outbuildings. I wasn't a direct part of the conversation so I don't know details but that was the understanding we came away with. At least at this point it is looking like an FHA is the way to go. Yes, they are stricter on a lot of things (the reason this place didn't get bought) but we can fix the interest rate. The bank will do an in-house loan but they don't want to fix the rate. I say it would be dumb to not get a fixed rate mortgage when rates are at the lowest them been in a long time.
At any rate, we'll keep learning about our area (we're new here) and we'll keep looking for the right place. In the mean time we'll actually try to make our rental tolerable to live in. It was pretty bad to begin with. Looked good on paper, but in reality I don't think I've ever lived in such a bad place and I've lived in some pretty dumpy places. :) Oh well. It gets better with time. For now I'd better get cranking on the tomatoes I found at our farmer's market.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Oct 08 2012 : 08:43:01 AM
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And we are looking at another place today. It is technically in town but it is a large lot, has a beautiful kitchen, and a beautiful backyard. But it is in town and not an acreage. There is another place just up the road from the one we thought we had but it isn't on the market yet. It might not go on the market but we'd be thrilled if it did. Time will tell.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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Bear5
True Blue Farmgirl
13055 Posts
Louisiana/Texas
USA
13055 Posts |
Posted - Oct 08 2012 : 09:12:41 AM
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Good luck. Let us know what you think of the place in town.
Marly
"It's only when we truly know and understand that we have a limited time on earth- and that we have no way of knowing when our time is up- that we will begin to live each day to the fullest, as if it was the only one we had." Elisabeth Kurler-Ross |
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EastTXFarmgirl
True Blue Farmgirl
731 Posts
Victoria
Farmgirl #549
TX
USA
731 Posts |
Posted - Oct 09 2012 : 9:08:37 PM
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Katrina I know how disheartened you must have been. I was there myself about 6 years ago. I found that 'perfect' 38 acre farm I just had to have. The only difference is I live in "a good old boy" community and was able to talk the loan officer into completing the loan. Don't get me wrong I love my place but I almost wish he would not have given in. There were many "little" repairs and, as you said with the farm you loved, it just needed someone to live in it. Ours too had not had a family for almost 10 years. It was a product of a divorce and we thought we got a great deal. By the time we finished some of those "little" repairs (and we have by no means gotten to them all), bought those farming tools you have to have-tractor, plow, brush hog...Our first year we were hit by the Texas hurricanes (2), the second year was the hottest temp in Texas history having 82 days above 100 degrees, the third year all the crops were destroyed by pest brought on by the unusually warm weather, the fourth year we went into one of the worst doughts in Texas history and by the fifth year our slush fund was depleated. My husband and I both had to take full time jobs. We had planned on an income property but with all the small farm tax and law changes it has become almost impossible for small farmers to make it. We did not mind being so far out in the country when we purchased it because we were going to live and work on the land. Now my husband drives 30 minutes each way 5 days a week and I drive 1 hour and 15 mins each way 4 days a week just to work. The worst part is now that we are both having to work off of the farm most days it is getting harder and harder to keep up with. I love my farm but I do wish I had of been smarter and not just led with my heart. I fell in love with the huge old oaks and the rolling hilly pastures and the beautiful white cottage next to the pond. What I did not see or want to listen to the warnings was the foundation problems, the 'minor' plumbing problems, the old water heaters, the list could go on. Those little things add up quickly. As sad as you are, you may have been saved in the long run. There is a place for you to do exactly what you want to do. But do it smartly. I think if I had stepped back for a few days like everyone asked me to I would have chosen differently. Had we not had to put so much of our money into the place right off the bat the other issues may have been easier to manage. My husband, bless him, has never thrown it up in my face. He wanted to keep looking but I was so set on this place. Now he has had to put all of his desires on hold and work at a job that he absolutly hates just to keep this place. The original plan was for me to work and him stay and run the farm until we got ahead and then I would be able to work the farm with him. With the market we will never be able to sell for what we put into it. The only saving grace is I have worked like crazy to pay extra and if we can keep up the pace we will have the farm paid off in 3 years. Count your blessing where ever they may be.
Begin each morning with a song in your heart. |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Oct 11 2012 : 2:08:22 PM
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Victoria,
All I can say is uff-da. That does not sound like fun. Yep, I'm thinking that this little farm of mine may have turned into more of a headache than it was worth. Especially after we got the well and septic (there isn't one) report. I just keep telling myself the right place will come along. It took us about 6 months or better of looking hard last time we bought. Which we still haven't been able to sell. It will all settle in after while I suppose. For now I make do with our rental. It is big but it is dark, was very stinky, and is for sale which means we have strangers traipsing through the house periodically. On paper the rental looks like a good candidate for us but I sure am glad we lived here first and didn't buy sight unseen. That would have been awful. We are at an intersection and it sure gets busy and loud here. It's temporary at least.
The house in town was eh. It was a house with a lot of rooms with no room. Lots of unfinished remodeling projects and several trees out back that the power lines were going through. Really I'm amazed the power company hasn't come and just chopped the ones along the back fence. They are bad. There were two major deal killers too. The second bathroom door doesn't open all the way because of the water heater and you can't get into the laundry room because of a closet. Things you would have to deal with daily that would just make you angry every day.
Guess we'll keep our eyes and ears out for something to come up. 5-10 acres would be great. Heck I might even go for a large town lot. Well, maybe. I sure would like to move out of town. Not far, but enough that I could have some breathing room.
Thanks for all the support everyone. It helps to know there are like minded folks out there.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Oct 27 2012 : 5:03:18 PM
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Well, even though I don't have my farm yet I went and bought a hoosier cabinet for my kitchen. It needs some restoration. I can't wait! It gets delivered on Monday. So excited. I have some thinking to do before I go crazy stipping any paint or anything. It needs things like a new back, a couple of latch hooks, and a couple drawers need new bottoms. But, it has the flour bin with sifter, it has the sugar bin, it has the cookbook racks, it has the bread door, it has the pull out racks in the bottom, and it has glass drawer pulls. I'm loving it. It is a Sellers brand. And it has casters on the feet and the work space pulls out to give you more work space. I think I'll put a new back on and make sure everything is clean and use it for awhile before I go too crazy with restoration. I want to see what the piece and I decide what it needs.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Nov 01 2012 : 9:03:36 PM
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Grrrrr!!! Now we are running into issues with our property manager of the rental we are in. I really dislike renting! They think they can boot us because they sold the house. Think again. We have documentation along with a lease that states that is really hard to do. I also know from owning property that it can be a real pain to get rid of renters. We don't want to mess up the owners chance to sell and we want to move too. Just not under the terms the property manager is giving. Plus when we move we want it to be into a house we own, we don't want to be moving into some crappy rental right after Thanksgiving/Christmas, and I sure don't want my kids super jostled around at age 4 and almost 2. Lots of frustration right now. We know we are in the right and we are in a position to fight if we need to I just hate having to do any of that to anyone. You can be sure we won't be using this realtor/property manager to do business with in the future though. I sure don't like their style. Thanks for letting me vent a bit. I'll feel better when we have our own little piece of paradise. No matter how it comes about. :)
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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ClaireSky
True Blue Farmgirl
1792 Posts
Julie
Arcadia
WI
USA
1792 Posts |
Posted - Nov 05 2012 : 10:04:06 AM
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Hang in there Katrina! I am sure you will find your little piece of paradise.
Julie
Farmgirl Sister #399
Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful. |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Nov 05 2012 : 12:25:33 PM
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Thanks Julie. Since I posted this we have since gotten apologies from the property manager and we've found a realtor we want to work with that isn't part of that other company. We really don't want the sale messed up at our rental and we want out. It is just that we don't want to have to be pressured out. We are looking at a place on Wednesday. It will actually be the third time we've looked at it. It is a bit on the high side money wise which is why we are reluctant. We don't want to get locked in or under water in anything. But golly it is a nice place. It is in town but has almost a full acre of property. And the house is designed just like my husband and I like. We shall see how this one plays out...
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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ClaireSky
True Blue Farmgirl
1792 Posts
Julie
Arcadia
WI
USA
1792 Posts |
Posted - Nov 05 2012 : 1:14:05 PM
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My fingers are crossed for you Katrina! Good Luck!
Julie
Farmgirl Sister #399
Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful. |
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KatTylee
True Blue Farmgirl
230 Posts
Katrina
Mitchell
Nebraska
USA
230 Posts |
Posted - Nov 06 2012 : 06:39:37 AM
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I do wonder about the twists and turns of life. So now that we've been trying to fire our first realtor that is also the property manager for our rental and we think we might have found a great place in town, our first realtor comes to us and says there is another place coming on the market that is out of town. She gave us the address and some photos and it is one we were asking her about 2 weeks ago. Argh!!! I don't think she understood when we were asking her about whether or not it would be for sale. We'd driven by the place several times as it is just up the road from the first chunk of property we tried to buy. It was vacant everytime we drove by so we stopped one day and snooped around. Great looking place with no one there. Even appears to have a chicken coop and a couple of fruit trees. Well we asked about it and she said it would not be going on the market. Now that we are trying to get rid of her it all of a sudden is? I'm very dis-trusting of this. I'm not sure that she is really trying to just woo us back or not. I'm not sure she is that intelligent. I just don't know. My hubby is a little more trusting but I just can't trust this woman that has made such large mistakes. Although, I really want this property that she says is coming on the market. Why does being a grown-up have to entail such decisions? ;) We are just gonna have to hold on because this could be a wild ride.
~"Be yourself; everyone else is already taken."
Oscar Wilde~
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A Farm of My Own: Might have our Farm - Make that Got our Farm |
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Might have our Farm - Make that Got our Farm
