Bad day to have a bad day

rrlund · May 20, 2013

I was reading Allan's post below about breaking the disc. Good thing nothing went real wrong around here today. A big storm came through and chased me out of the field,so I was just sitting here watching it rain. The phone rang. It was the grand daughter of a friend. She wanted to know if I still wanted to sell any land. I said no,I guess not,the oldest boy is pretty set on getting it. I asked her how much she was looking for,thinking she just wanted some to build on or something. She said "all I can get my hands on". I kinda joked and said,well,for a million and a half I might forget he wants it. She asked how much I had. I told her 240 acres. She said she's been pre approved for $800,000. Didn't want any cattle,just the land. Told me if I wanted to sell,call her grandpa,she really was seriously looking.

I've had WAY too many days this spring when I'd have taken her up on it and been out of here so fast I'd have left skid marks. The boy had better be hoping I don't have too many more of those!

VADAVE · May 20, 2013

Well you know she doesn't want becvause she likes wide open spaces. She plans to at least double her money.
I always figure if they're that anxious then I might as well plat it off and and make that double your money business.

GordoSD · May 20, 2013

How many kids do you have? Do you intend for each of them to get equal share? Can any one of them afford to buy the others shares? If not it will get sold later than sooner.
Sell it now and start on that bucket list.

rrlund · May 20, 2013

Three. My daughter and her husband have done pretty well for themselves. I offered to sell it to the youngest when he was still here milking cows with me and he said it wasn't what he wanted to do for a living.
The older boy went to college,didn't want to milk cows. After about 5 years of working in the real world he didn't think farming was so bad,especially after I quit milking ten years ago and went to beef cattle. He's got some cows of his own here now,but he's still swamped with work off the farm. He wants to quit his job and farm eventually. I don't know how much more of this fun I can take though. I can't tolerate another spring the way this one's been going. Most days I don't know whether to kill myself or go bowling.

rrlund · May 20, 2013

There ain't a snowballs change in a hot spot that you could plot off farmland around here anymore and sell it. Ten years ago,yes,but it's as depressed as Detroit around here anymore. There's four sources of income,farm your own land,live off retirement,sell drugs or welfare/S.S. disability. When the last union pensioner dies,it'll be time to turn off the lights.

Wile E · May 20, 2013

Is this woman preapproved to just buy land, for 800K? Does she plan on splitting it and then selling off the land, or does she want to farm it? I only thought that a bank would loan you money only if you were a developer. Is this woman just a regular shmoe who can get a bank to loan her a pile of money?
The interest rates are sooooo damn low now I almost want to sell my home and take out a 100,000K loan and move. It could be another round of the mortgage mess that occured a few years ago.

rrlund · May 20, 2013

She says she's looking for farmland. I don't know if FmHA is back to handing out money to anybody who asks again or what?

Wile E · May 20, 2013

She could be wanting to split it and get rich.
A good friend of my dad's has a sister that sold land in the north suburbs of the Detroit area. She and her husband sold a 40 acre farm to a developer in Macomb county Mich. and got $4 million for it. They then moved up to Traverse city with their money.
I dont like being in debt, but when the economy tanked it was real tempting to buy homes for cheap knowing that you can rent them out or sell them later for a profit. I do like being on the low side of the debt equation. Being middle class has a lot less headaches.

rrlund · May 20, 2013

We're about mid way between Detroit and Traverse City. Not much here anymore but drug dealers and welfare types. Not to say there's no economy,but the population is shrinking,not growing.

Dan T in MO · May 20, 2013

I'd suggest going bowling. That way, it's never too late to change your mind.

GeneMO · May 20, 2013

We bought 120 acres in 2008. 90 acres tillable. Farmed it for 4 years, then sold last fall because the boy moved 9 hours away and that is a long way to commute to run a tractor.

Made a 50% profit.

Good bit better than CD's or a savings acct.

Gene

MSD · May 20, 2013

I've found over the years of selling homes that being"pre-approved" means about nothing when it comes time to actually sign a contract. It is just a fancy term for "I talked to a banker and he thought I would qualify if all my paper work shows I do".

Traditional Farmer · May 20, 2013

I hear you,I'm going to give up a couple of the rented farms next year and if I didn't like where I lived so much I'd sell and move somewhere with cheaper land.I'm in the middle of surburbia so selling at a good price would be easy.When I'm gone no one will give a hoot about farming this place anyway,if I found someone that did I'd will it to them.

JayinNY · May 20, 2013

Don't do either, get yourself some horses, at the end of the work day, it's so relaxing to feed the and watch them go about there grazing! This is my 29 year old thoroughbred mare! I also like watching the chickens scratch around.

Anonymous-0 · May 20, 2013

If she's pre-approved why would she want you to you call her grandpa?

Having been in the real estate business a long time, I can tell you it's only getting worse. A formal loan approval letter doesn't even matter any more because they want to recheck everything the day before closing.

MN skinner · May 20, 2013

I"m with Jay on getting some horses. Alot of nites i stand out with my little saddle horse and her 2 partners, have a beer and get a real good grip on life.In the world we live in now it is real nice to find a peace in something simple. If you dont like horses, go bowling!

RodinNS · May 20, 2013

Ahh, take her 800. Then buy it back when interest goes up. It's just around the corner anyway...

Rod

Eldon (WA) · May 21, 2013

(quoted from post at 13:48:26 05/20/13) I was reading Allan's post below about breaking the disc. Good thing nothing went real wrong around here today. A big storm came through and chased me out of the field,so I was just sitting here watching it rain. The phone rang. It was the grand daughter of a friend. She wanted to know if I still wanted to sell any land. I said no,I guess not,the oldest boy is pretty set on getting it. I asked her how much she was looking for,thinking she just wanted some to build on or something. She said "all I can get my hands on". I kinda joked and said,well,for a million and a half I might forget he wants it. She asked how much I had. I told her 240 acres. She said she's been pre approved for $800,000. Didn't want any cattle,just the land. Told me if I wanted to sell,call her grandpa,she really was seriously looking.

I've had WAY too many days this spring when I'd have taken her up on it and been out of here so fast I'd have left skid marks. The boy had better be hoping I don't have too many more of those!

I thought you wanted to move down south? If I were you and had an offer like that I take it in a minute....

MarkB_MI · May 21, 2013

Farmland prices right now are insane. My family just sold some land out west, not because we wanted to sell, but rather because we couldn't justify NOT selling. Don't consider a private sale; in the current market an auction is the only way to sell farmland.

John B. · May 21, 2013

A man once told me "When someone wants an answer from you right now, you're going to get screwed". Excuse my choice of words but not sure how else to say what the man once told me. Why is it she keeps asking you and not looking else where. She may know something you don't. Just my view for what it's worth.

randallinMo · May 21, 2013

Traditional Farmer...........I'll farm it.

Mike Henry · May 21, 2013

not sure how things are going down there but if you come up to the west side of Isabella county this spring all you will see is NEW IRRIGATION equipment. Sacketts or a coop of tator growers are buying any peice of dirt that they think they can get a tator to grow on. Been handing out blank checks so to speak. Heard of some just east of Barryton go for $8000 an acre. Been sitting for over 20 yrs. New irrigation system there ready to pump.

JML755 · May 21, 2013

(quoted from post at 19:12:41 05/20/13) She could be wanting to split it and get rich.
A good friend of my dad's has a sister that sold land in the north suburbs of the Detroit area. [b:0afca66d4a]She and her husband sold a 40 acre farm to a developer in Macomb county Mich. and got $4 million for it. [/b:0afca66d4a] They then moved up to Traverse city with their money.
I dont like being in debt, but when the economy tanked it was real tempting to buy homes for cheap knowing that you can rent them out or sell them later for a profit. I do like being on the low side of the debt equation. Being middle class has a lot less headaches.

When and where was this? I live in the middle of Macomb County, have bought and sold land here. 40 acres @ $4mil is $100k/acre. Pretty pricey. Be curious to know what went on it.

Don-Wi · May 21, 2013

(not sure how things are going down there but if you come up to the west side of Isabella county this spring all you will see is NEW IRRIGATION equipment. Sacketts or a coop of tator growers are buying any peice of dirt that they think they can get a tator to grow on. Been handing out blank checks so to speak. Heard of some just east of Barryton go for $8000 an acre. Been sitting for over 20 yrs. New irrigation system there ready to pump.

You think $8000 is high? Farmland around here is bringing $12,000 or better per acre. I want to buy the barn and 80 acres that used to go with my house, but I'll need over $1,000,000 to do it. Don't think it's gonna happen, which is a shame because the owner who still farms it has one leg in the grave already. Has a DNR bracelet on now. I've talked to him a few times about it, but he doesn't seem to be interested in working with me a little. No kids either, so no idea what he'd do with all that money.

Can be very frustrating at times.

Donovan from Wisconsin

Bad day to have a bad day

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

New User

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Member

Well-known Member

Well-known Member

Similar threads