Re: Horse property for sale in TN

On Wed, 17 Oct 2007 06:07:06 -0700, pinefall.lynne@xxxxxxxxx wrote:

On Oct 16, 5:25 pm, Bill Kambic <wkam...@xxxxxxx> wrote:
This place is, literally, right accross the street from me. I figure
it will go from $275,000-$325,000. I have not seen the inside since
it was re-modeled about 10 years ago.

http://furrow-auction.com/Humphrey_110307/index.htm

Thanks for the heads up. If you can believe it, we are still looking
at this area, as job negotiations move at a snail's pace. This is not
quite what we're looking for (house is way too large, land too small),
but it would be nice to have a rec.eq neighbor!

I think your estimate for what this property would go for at auction
is very low, in comparison to what it would be listed at---but I have
been spending way too much time on Knox MLS, so my perspective may be
warped!

My estimate could be Alpha Fox Uniform (and it's in my interest that
it be too low and the property go for substantially more). But only
time will tell that! :-)

Abutting me on the northeast is a 7.5 acre piece with a 12 stall barn,
two bedroom house, fenced and cross fenced, 75' x 250' (more or less)
covered arena, and a couple of equipment sheds for $569,000. I found
it with a state wide broker a couple of weeks ago, but it looks to
have been pulled. The owner is a cantankerous old cuss who's had it
up for sale for at least two years. I'm sure it's still "for sale"
but may not be listed anymore. I sold him the land the barn and
paddocks rest on. I'd sell more to a new owner (as it really needs
another 5-10 acres to make it work); I could sell as much as 100
acres. ;-)

Here are a couple of links I found while looking around:

http://www.1horseproperty.com/EquestrianRealEstate/index.php?a=5&b=201&page=1&c=

http://www.horseproperties.net/index.php?option=com_hotproperty&task=asearch&Itemid=27&state=TN&submit.x=10&submit.y=10

There are at least a dozen sites that cater to "horse properties." You
just need to spend some tme "surfing." :-)

Land in East TN is cheaper, on average, than land in the rest of the
state (and significantly below prices around major cities anywhere).
We are seeing a major influx of people from the Gulf Coast and Midwest
as retirees. For families without kids in school this is a Good
Place. Medical facilities are first rate. We are within a one day
drive of 70% of the U.S. population. We have four real seasons, with
a bias toward summer.

Schools here in Roane Co. rate above the state average but the state
average is below the national average. Still, our local high school
has sent a half dozen kids to the Service Academies over the past 10
years, in addition to many National Merit Scholars. So you can get a
first class education here; you just might have to work a bit harder
to do it.

We did not see the "bubble" in real estate values as it rose, nor
have we seen a bunch of "deflation" as it popped. My banker at
Chattanooga Ag. Credit (an ag. financing co-op) says he has lots of
money to lend at reasonable rates. And I get two checks a year as
interest rebates. :-)

If your income is portable then East TN can be a good deal. But as
costs are lower here, wages are also lower. So you still have use the
"discipline of the yellow pad" to determine if a move this way makes
financial sense.

.

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