Buying Country Property

[riptides]

rjsmit1 ....


What was something like that asking for.....


I wanna move and start all over agian, but not work anymore.

-Mike Z. /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif

 

[riptides]

Bodie,

</font><font color="blue" class="small">( The "rural cresent" that runs through Loudoun, Prince William and Stafford counties designates that all lots are a minimum of 10 acres. That might help in dealing with the neighbors.
)</font>

In Stafford it is 3 acre minimum, and there are heavy discussions on "stop growth", "curb growth". Going on.

Three acres is NOT enough space in my opinion. Especially with no law enforcement on certain things.

-Mike Z. /forums/images/graemlins/grin.gif

 

[Bodie]

Riptides, I stand corrected. No law enforcement? Care to elaborate?

Bodie

ps
My new L3830 should be in this week. The wait is killing me!

 

[WVBill]

I'll get it for you on my way home tonight!

 

[riptides]

Sure,

While we live in a rural community, we have things like property rights, private easements and state maintained roads.

Certain parties in the area do not respect others rights and tend to do things that can be construed as dangerous, harmfull to ones well-being, disruptive to the community, and basically illegal.

Law enforcement officals have been seen in the area, but not at the same time as the annoyance, transgression, or illegal activity.

Thus, no law enforcement.

On a more personal note, I have talked with certain individuals and the behaviours stops for a short period of time.

I myself have not called in the law, but the entire picture of events leads me to believe, IMHO..........


3 acres ain't BIG enough. I would check on zoning and see what activities can be performed on the said lots in question.

Communities change, attitudes, well......., rules and regulations, HAH, try and get something changes with land-rights and see what happens.......... /forums/images/graemlins/grin.gif

-Mike Z.

 

[WVBill]

19.2 Acres, 4BR 2BA House, 2 Barns $499..... But it's under contract. Here's the link Clarke County Properties
Sorry.

 

[rjsmit1]

Appreciate all of the additional responses. I was out of town and didn't get a chance to reply yesterday. Location is a key requirement. 95% of my wife's riding students live in Fairfax County and we don't have a good feel for how far they will drive. We are currently leasing property off 50 (south of Dulles Airport) and that seems to work well for them- some of whom come from as far as Alexandria. In any event, I am broadening my mind about location with the thought that if we can get the land at an 'affordable' price, develop improvements ourselves over time, that maybe the business risk is better managed than purchasing fully developed at a much higher price. We have also discussed the possibility that we may have to replace the Fairfax customers with Loudon or PW county customers. The current farm is convenient for them today and they don't respond to advertising. I assume that many of them already have their own land and horse if they are inclined to it.

As an aside, the cel tower property also has a huge set of power distribution lines cutting it in two, and Bull Run Creek dividing it as well. The Creek has 'overlays', which restrict activities around it and a flood plane surrounding it. When considered in combination with the power lines and cel tower, this one is getting a little complicated for my taste. I think that the developer should take this one and figure out how to deal with the issues - he's an expert...

In the mean time, we'll keep looking. It sure is a pretty area out there and thanks again for all of the excellent suggestions.

 

[cowboydoc]

All I've got to say is property is extremely expensive out there. That place in either Iowa or Idaho would go for maybe $250k. Possibly more but I doubt it.

 

[WVBill]

Oh yeah, I agree. That place is in Virginia but one of the property lines is the VA/WV state line. Move it across to my side of the state line and it's probably more like $350. Still more than the midwest but amazing what 1/4 mile can do!

 

[Libertine]

OkeeDon:

<font color="blue">There is no divided loyalty; by law all the loyalty goes to the one paying the commission. </font>

Right on. The broker/agent (different legal categories) is a hired hand and works for the seller. They "find" a buyer for the seller, that's all. In fact, you might get better efforts dealing with a listing broker, since he doesn't have to "split" the commission with a second agent/broker you might be dealing with. Your guy is your attorney (who reviews the deal, etc.).

<font color="blue">Unfortunately, most real estate deals become emotional; the buyer "owns" the property in his mind and starts letting emotion overcome good sense in order to complete the deal. Be prepared to walk away without regret; I guarantee you another property will come along. </font>

Amen.

One suggestion about the price of land right now (see cowboydoc's comment). Judge the value on the basis of its productivity, i.e. the yield. Land near population centers is also based on pressure and emotion. Current low interest rates drive up prices based on that pressure and emotion. That will change. Personally, my opinion is that unless a piece of ground yielded 5% - 10% return in real money it's overpriced. Take the price of the ground, add any improvements, plus labor, then take 5% of that. Will you make that off the horse/riding operation? If yes, fine. If not, keep looking. Land will come down from here FOR CERTAIN (when measured in gold money). In north-central Missouri 150 bushel corn land can be had for around $1,500. A maybe situation.

Finally, around here, land with any type of tower on it (Re: the comments on a cell tower) greatly reduces the value. Unless the owner is getting a nice income stream off it it's not worth it.

JEH

 

[rjsmit1]

I do appreciate the comments. The cell tower contract states that the owner will be paid $1,300 per month for 60 years. Rent will increase a total of 5% every 5 years (or slightly less than 1% per year on a compounded basis...). This property also has the benefit of some very large power lines on metal towers crossing it, so we continue to look elsewhere. I have found a lot of places in this county that I didn't know about... If nothing else comes of this excitement, learning the area will be a good side benefit. Thanks again for the comments.

</font><font color="blue" class="small">( OkeeDon:

<font color="blue">There is no divided loyalty; by law all the loyalty goes to the one paying the commission. </font>

Right on. The broker/agent (different legal categories) is a hired hand and works for the seller. They "find" a buyer for the seller, that's all. In fact, you might get better efforts dealing with a listing broker, since he doesn't have to "split" the commission with a second agent/broker you might be dealing with. Your guy is your attorney (who reviews the deal, etc.).

<font color="blue">Unfortunately, most real estate deals become emotional; the buyer "owns" the property in his mind and starts letting emotion overcome good sense in order to complete the deal. Be prepared to walk away without regret; I guarantee you another property will come along. </font>

Amen.

One suggestion about the price of land right now (see cowboydoc's comment). Judge the value on the basis of its productivity, i.e. the yield. Land near population centers is also based on pressure and emotion. Current low interest rates drive up prices based on that pressure and emotion. That will change. Personally, my opinion is that unless a piece of ground yielded 5% - 10% return in real money it's overpriced. Take the price of the ground, add any improvements, plus labor, then take 5% of that. Will you make that off the horse/riding operation? If yes, fine. If not, keep looking. Land will come down from here FOR CERTAIN (when measured in gold money). In north-central Missouri 150 bushel corn land can be had for around $1,500. A maybe situation.

Finally, around here, land with any type of tower on it (Re: the comments on a cell tower) greatly reduces the value. Unless the owner is getting a nice income stream off it it's not worth it.

JEH )</font>

 

[dmccarty]

rjsmit1,

Don't make the mistake that just because the there is a
perc side at one location and assume there will be a perc
site nearby...

We bought land that has VERY bad percs. We have the
perc sites to do what we want to do but the developer who
spend some serious money during the 70's and 80's building
a road and surveys could not perc all of the lots. We got the
land for good price as a result.

There is one perc site on Lot 23. Its within 10 feet of Lot 22.
Walk 10 feet over the joint lot line into lot 22 and you won't
find a perc site for at least 15 acres. I paid a Soil Scientist
$1,000 to find out that bit of information. It was a very
good use of $1,000. The land looks the same but it don't
perc! /forums/images/graemlins/frown.gif

Be very carefull with percs.....

Later,
Dan McCarty

 

[rjsmit1]

Thank you. That is very good advice! I could have made a potentially expensive assumption...

</font><font color="blue" class="small">( rjsmit1,

Don't make the mistake that just because the there is a
perc side at one location and assume there will be a perc
site nearby...

We bought land that has VERY bad percs. We have the
perc sites to do what we want to do but the developer who
spend some serious money during the 70's and 80's building
a road and surveys could not perc all of the lots. We got the
land for good price as a result.

There is one perc site on Lot 23. Its within 10 feet of Lot 22.
Walk 10 feet over the joint lot line into lot 22 and you won't
find a perc site for at least 15 acres. I paid a Soil Scientist
$1,000 to find out that bit of information. It was a very
good use of $1,000. The land looks the same but it don't
perc! /forums/images/graemlins/frown.gif

Be very carefull with percs.....

Later,
Dan McCarty )</font>

 

[Docsknotinn]

As don mentyioned in our state it is legal for agent to be a dual buyers/sellers agent. This is almost never in your favor and a buyers agent will definately be worth the cost in my view. Also I am constantly suprised how many of my neighbors buy land with out a survey. Say 80 acres is up for 125k. When I make a offer I offer a per acre price based on the NET of the survey. The last parcel I bought was 8 acres bigger so it costed a few more $, BUT the first one was 10 acres smaller so in the end I came out ahead enough to pay about 50% of the survey. You might also want to verify the zoneing status if it applies to your purchase. Dave

 

[EagleEye]

Danny, ditto on the experience... However, approx $1500 later (this is a few years back), I had a potassium permanganate and water softener double filtering the water... All is well, that ends with good drinking water /forums/images/graemlins/wink.gif