Sold/Expired Looking for some land

[SC Manimal]

Sent you a PM

 

[Kelljp]

I live in Alabama now. I don't think TN had this when I lived in the state, but here we have a homestead exemption that reduces the tax rate on your primary residence and then a fair use clause that keeps the taxes low on farmland and timber that is located near built up areas. So at least we have that. My wife and I want to downsize. We could sell our house, but can't find anything that isn't crazy priced or in one of the subdivisions that are built porch to patio and I won't move into one of those places.

We have talked about selling the farm and moving into one of those manufactured neighborhoods since we're getting a little age on us, but the wife told me "wild things don't do good in gardens" and I think she's probably right.

 

[dogsled]

"wild things don't do good in gardens" and I think she's probably right.

I love that saying. She is right. I can say from experience that I would hate one of those subdivisions.

 

[gary66]

That's a deal. Probably not many like that left. Land her has gone crazy too, 5X what it was 10 years ago. I used to live in the country, the city has moved to me.

same around here, takes time and patience. I know several people who ended up buying out of frustration at not getting what they had gone after previously...said they were just happy to get something... I know for a fact that there are properties out of the flow of real-estate madness. My other daughter just bought a home that way, they looked for a while on line, sent them to me, I pointed out somethings. Then they made the trip there, looked at what they had been interested in, found them not what they had been told. After an "exhausting" 2 days they bought a home they aren't happy with, but "we were just happy to get something". They are military, move often, relocated 1/2 the nation away from me, I was little help, but being the voice of reason and patience to emotional, impatient people... they kind of avoid my opinion.

Best advice, be neighborly to everyone you can. Be someone people like to talk to, when they hear about something you show an interest in they think of you.

 

[killingtime 41]

really have to be careful, any where government has a hand in the restrictions keep growing. Looked at a wooded lot with no road access. Told the owners relator I'd need enough ground from the road back for access and I wasn't interested in an easement, I'd buy the ground, they agreed. "One more thing" I said... "Will the township allow building on the property with only 30' of frontage?" (road width). He was a little confused and agreed to ask... answer was no and the relator had no clue about it till I brought it up. If there is government control dig deep before buying and you'll probably lose to another buyer before you find out what you need to know, do not regret it. I inspect properties, it is amazing what is not disclosed people who know nothing fight over. Daughter bought a nice little farm after we looked at many. One we looked at was a brick ranch, as I looked at it I noticed there was no foundation at all under the brick which was almost at grade. I called the relator outside and asked if anything seemed odd to her...then I pointed out the fake bricks that came in sheets like plywood. She was shocked, contacted the sellers relator, they took the listing down. A week later they put up the same listing, it was sold in days.

Never been more true than today... "buyer beware".

Daughter ended up with a 4 acre farm, 1 of them a pasture, some barns and a nice little house...99,000. That was 4 years ago. You can find what you want, takes time and someone who knows what's what.

4 years ago is the answer

 

[SSlater]

It's beyond time for a "correction" in this grossly overpriced market. Of course, as long as commifornia folks continue relocating here, it's probably not going to get better even if the economy takes a major nosedive.

Hope you can find a place like you're looking for!

Even if the other parts of the country crash, I don't think it will as bad here. It's crazy to think it can continue though.

 

[SSlater]

4 years ago is the answer

Yep, things have literally doubled since then

 

[Kelljp]

Even if the other parts of the country crash, I don't think it will as bad here. It's crazy to think it can continue though.

I noticed after the Fed started rising the interest rate sales slowed down. At the start of this year here in East Tennessee homes average were on the market for about a week before they sold. Now I've seen some on the market for over a month and not sold.
Prices are still ridiculous. I sold two places in 2015 both have resold twice at three to four times what I got and both were on the market over a year before I sold them in 2015.

 

[SSlater]

I noticed after the Fed started rising the interest rate sales slowed down. At the start of this year here in East Tennessee homes average were on the market for about a week before they sold. Now I've seen some on the market for over a month and not sold.
Prices are still ridiculous. I sold two places in 2015 both have resold twice at three to four times what I got and both were on the market over a year before I sold them in 2015.

Still a lot of cash buyers from out of state like commifornia and NY. I talked to a real estate agent at my wife's office and he said the new horde invading is from Chicago.

 

[smalljawbasser]

It won't go back down, crash, correction or anything else. It never does. It don't matter what land costs, buy all you can afford.

 

[Kimber45]

I've seen it correct 1st hand. Maybe it's time to see those 20%+ loan percentage rates again.

 

[Chiflyguy]

Still a lot of cash buyers from out of state like commifornia and NY. I talked to a real estate agent at my wife's office and he said the new horde invading is from Chicago.

 

[killingtime 41]

If you were around in 2008 the correction was astonishing. Right now houses and land are 40 to 60 percent higher than the overvalue of 2008. I thought it was nuts then.

 

[SSlater]

I wish my Aunts and Uncles would move here from Downers Grove and Park Ridge but I don't think they'll ever leave.

 

[Kimber45]

One of the main issues seems to be sales price averages based on purchases folks can't afford to make - so the purchases are via loan. Low rates can be bad IMO, just as extremely high rates can as well.

If you were around in 2008 the correction was astonishing. Right now houses and land are 40 to 60 percent higher than the overvalue of 2008. I thought it was nuts then.

the one in the late 70's comes to mind for me. Rates hit 20%+. Ppl had to learn to live within their means. It's time again

 

[Chiflyguy]

I wish my Aunts and Uncles would move here from Downers Grove and Park Ridge but I don't think they'll ever leave.

Worked at the Pepperidge Farm plant in Downers Grove for a couple years

 

[backyardtndeer]

the new horde invading is from Chicago

They have been coming here for a long time, the closest two homes to mine on my road, they came from Chicago. One about 25 years ago and the other about 10 years ago. But yeah, I have been seeing a lot of Illinois plates here lately, and all over from in town to the backroads I drive daily.

 

[dogsled]

The typical family can no longer afford a home at today's prices and interest rates, so perhaps a correction is in the making.

"The national index is currently below 100, which means that the typical family cannot afford to buy based on the median-priced home. An index below 100 means that a family with a median income had less than the income required to afford a median-priced home."

Housing Affordability Hits Historical Low in August 2023

Compared to one year ago, affordability fell in August as the monthly mortgage payment climbed 26.2% and median family income rose 4.7%.

www.nar.realtor

 

[BuckWild]

Timber company just listed a large section of mixed small timber and cut over properties for sale.

First one I looked at was priced at $6150 per acre. For cutover timber.

Crazy.

 

[Kimber45]

Timber company just listed a large section of mixed small timber and cut over properties for sale.

First one I looked at was priced at $6150 per acre. For cutover timber.

Crazy.

That is freakin insane