price of 25 acre farm is this decent?

[displacedPA]

wife and I found a farm that has almost everything on our list that we are looking for. eight stall horse barn, pole barn the barns are older but one has a new roof. The house is about 3200 sq feet. built in 76' and needs updated but, very liveable and useable. There are three fenced pastures. two have electric fences.

heres the deal the proerty is 400' wide and 2900 feet deep its a long rectangle. the property is sourounded by larger farms and feilds. One old timer at work told me i should be careful because they could build around me and i wouldnt have privacy anymore.

what would you veterans value a setup like this. I know it varries on location ect.

tax value is 710k its listed for 499k

 

[dave1949]

I guess it depends on what value you and the wife place on privacy. I'd have to agree that 400' will not get you much isolation from neighbors, and since it is an existing house, you can't use design to minimize that exposure--unless it's done already.

I can't help you with the value other than the usual value items; schools, taxes, commute distance to employment, neighborhood declining/steady/improving, good water, good road access and that sort of checklist.

If you would spend worry time about the potential loss of privacy, then perhaps you should keep looking. No sense in buying a worry.

Good luck.

 

[newbury]

What are the comps? And where is it?

We bought (at the end of 2011) a similar size house w/pool and 5,500 sq ft of "shop".



all concrete floor, electricity, and the big one in the center has a 1 bedroom/1 bath/1 kitchen/1 "living room" apt in the back 20'.

W/ 73 acres it came up to about $240K. We've got about 1400' of road frontage so all the neighbors are out of shotgun range


So obviously prices vary.

A "narrow" lot can be a hassle when neighbors move in. Especially if you want to do something "annoying" like tractor work before 9 a.m. and they want to sleep till noon and call the LEO for you disturbing them.

Or when they decide to raise pit bulls that constantly bark.

There's the saying that "good fences make good neighbors", distance makes them even better

 

[hunterridgefarm]

What part of NC or town in NC is it close to?

 

[Gary Fowler]

You can always put up some privacy shrubs or fast growing trees like red tip to shut out the visual neighbors, not much you can do about barking dogs etc. Value is subjective on property and depends on location. We bought our 42 acre 1/4 mile x 1/4 mile square for $2250 per acre 4 years ago and it had basically no buildings on it, just a couple of ponds, an old chicken shed and part of a pole barn that had fallen in. Check land values around there per acre then add in the price for the house and out buildings. Tax valuation might be something to worry about if they value it at almost $3/4 million but only asking Half million. I would first look at what the taxes are on it to see if that would be a burden. The house itself could be worth close to $400K if it is a quality build home and well maintained (depending on location of course)

 

[riptides]

400 feet wide? I'd stay away from that. That is not much space from the other parcels.
Perhaps you can check with the county on possible future land developments? Zoning changes and or public hearings? Most local governments have "strategic plans" for development. Maybe your has some info on the property to see what its future may be?

 

[Dr_Zinj]

Yar, the 400 foot width is troublesome.
I'd consider buying and flipping it rather than staying on it.
Of course I'm a peace and quiet loving, anti-social, gun-toting, psycho, retired military nut who likes to hike, hunt, fish, tinker, and read; and only want folks around for occasional shoots, followed by bar-b-ques and brews.

 

[displacedPA]

I think we may have to move out further to statify the larger width. which is fine by me. We looked into the tax burben not to bad 5600 per year. Not great either.
I will have to comute further to work if we go with another place which im ok with but wifey is not real happy about it. We found another place I did not mention here. I was just curious why the tax value ect was so high. Im thinking they must be looking into developing it. I have been all over the GIS site trying to figure out whats going on with it.
The price is ok for the area but I dont think its ok for us I can get more land and better more private land a little further out at a better price.

 

[displacedPA]

What part of NC or town in NC is it close to?

Union county NC

 

[mjarrels]

Remember, it's still a buyers market. Keep looking. I wouldn't want to keep paying the tax value!

mark