Sunday, February 24, 2008

another one of "those" discussions

Cliff and I get into the strangest conversations when we're traveling. So yesterday as we made a trip to Versailles to an aunt's birthday party, here's how it went:

Me: "I've been looking at the price of land in our area, and even with our house needing remodeling, I think 40 acres within driving distance of Kansas City ought to be worth $200,000. After all, there's electricity there, and it's fenced, and your shop ought to be worth something to the right person; not to mention that there's a perfect place for a new home back in our pasture, looking down on the river bottom."

Cliff: "Yeah, and then we could buy that house across the highway; we'd have to have a sale and sell most of the farm implements. You'd need to sell the filly and just keep Blue; we could only make room for one horse."

"Yeah," I responded. "I'd do that. Secret (my heifer) would have to go too, but as long as I can keep Blue..."

"Then as soon as the weather was nice, all we'd have to do is hop on the motorcycle and go. Of course," Cliff said, "we'd lose the extra income from the trailer rent and the horses we board."

"Yeah, but we wouldn't have a house payment, which more than makes up for that."

This went on for quite some time. So when we got to the party, we asked Cliff's brother, who dabbles in real estate, what he thought.
"This is not a good time to get much for that place," he said. "Properties just aren't selling. I'd say it's still worth $3,000 an acre, though."

Hmmm. That's only $120,000 for 40 acres. I think not.

So on the way home, here's how the conversation went:
Me: "I don't see as we need to get in a big hurry; we can put up with that old house for a few years more. Why push it? The time will come when we'll have to sell; let's worry about it then."

Cliff: "Yeah, that's how I see it too."

What it boils down to is this: If some uninvited person knocks on our door out of the blue and says, "I'll give you $200,000 for this place," we're selling.

Not likely, is it?

But then, stranger things have happened.


Anonymous said...

I've been in real estate for 23 yrs in eastern Jackson County, western Lafayette Co and sadly he's right. Now's not the best time to sell. It's a buyer's market.

Midlife Mom said...

It's not a great sellers market here either. I haven't flipped a house for over a year. Just don't dare take the chance on anything I've seen lately. You never know though, someone looking for a nice piece of land all set up........ I'd hate to see you sell Secret and the filly.. :o(

BarnGoddess said...

well, I am in agreement. It IS indeed a buyers market right now..

I love your place! but I can understand living in an older home, they are built sturdy but often need remodeling. When we moved almost 2 years ago, we upgraded to a homesteaded '98 doublewide. I still miss our old house w/ hardwood floors but it needed SO MUCH work!

also, I have 20 more acres now :)

your place always looks so clean, neat, comfy, and homey.

Astaryth said...

We've actually started watching prices to buy here. For a long time the price per acre was -outrageous-, but with all that has been happening in the world of money and mortgages we are starting to see prices coming down... Not so good if you are selling, but if your are buying.....

I would hate to see you get rid of Secret and your filly though, so I'm going to have to go with being glad that you aren't planning to sell in the near future ;)

One in Ten said...

I love your house it is so beautiful
I remember when the kids were little we would visit uncle Fred and aunt Juliet in Dover and we would sit in the front yard and you could see the Missouri river just flowing and the old houses in that area is so beautiful