Trying to buy-Help!!!

[dnw826]

So dh has a couple of interviews in the next couple of weeks. We should know for sure within a month where we will be moving. Thankfully, he will be tenured and I plan on never, ever, ever moving again provided there is no nuclear war.

We live in NC right now, but we will be moving (most likely) to around Rockford or Belleville, IL. It is expensive! My goodness!

We qualify for a USDA or similar home loan. I *need* more than 5 acres. I don't know what to do. Will these first time/low income home loans qualify us to buy acreage with a house or a site to put a trailer until one can be built? We don't want anything fancy. Shelter. But not a permanent trailer or manuf. home.

I plan on this being a homestead, and maybe a small farm for eggs, sheep cheese, and vegetables/fruit. So I saw this: http://www.fsa.usda.gov/FSA/webapp?a...fmlp&topic=sfl or http://www.fsa.usda.gov/FSA/webapp?a...fmlp&topic=bfl

I think that I would qualify. I don't have a lot of recent farm experience, but I am working on my BS in Agriculture right now.

So questions:
1. Where is land not outrageously priced within 20 or so minutes of Belleville or Rockford?
2. Should I contact the USDA/mortgage people in the county we plan on moving to (once we hear) and get prequalified? I have never bought a house before!
3. What's this: http://health.co.st-clair.il.us/NR/r...lHomestead.pdf
4. Any tips? I am so lost right now. I have been reading up and planning, but now that it's getting down to the wire, I am all befuddled.

**UPDATE***
Dh got another job interview. This one is in Knoxville, TN. Any good realtors or tips on buying a homestead? At this point, this is becoming our first choice because of the cost of living. We might actually be able to afford a house we want outside of Knoxville.

So should I go to a mortgage broker, or how in the world do I start the buying process? I am completely and totally lost. I know we would qualify for USDA or HUD or something, and some traditional loans...

[donsgal]

Originally Posted by dnw826

So dh has a couple of interviews in the next couple of weeks. We should know for sure within a month where we will be moving. Thankfully, he will be tenured and I plan on never, ever, ever moving again provided there is no nuclear war.

We live in NC right now, but we will be moving (most likely) to around Rockford or Belleville, IL. It is expensive! My goodness!

We qualify for a USDA or similar home loan. I *need* more than 5 acres. I don't know what to do. Will these first time/low income home loans qualify us to buy acreage with a house or a site to put a trailer until one can be built? We don't want anything fancy. Shelter. But not a permanent trailer or manuf. home.

I plan on this being a homestead, and maybe a small farm for eggs, sheep cheese, and vegetables/fruit. So I saw this: http://www.fsa.usda.gov/FSA/webapp?a...fmlp&topic=sfl or http://www.fsa.usda.gov/FSA/webapp?a...fmlp&topic=bfl

I think that I would qualify. I don't have a lot of recent farm experience, but I am working on my BS in Agriculture right now.

So questions:
1. Where is land not outrageously priced within 20 or so minutes of Belleville or Rockford?
2. Should I contact the USDA/mortgage people in the county we plan on moving to (once we hear) and get prequalified? I have never bought a house before!
3. What's this: http://health.co.st-clair.il.us/NR/r...lHomestead.pdf
4. Any tips? I am so lost right now. I have been reading up and planning, but now that it's getting down to the wire, I am all befuddled.

Zowie, you're not kidding. It looks like to me, from checking out the listings on http://midlandrealty.helpusell.com/C...ntentID=432728 that you are looking at about $85,000 and UP for 5 unimproved acres. That's a LOT of moolah!

It looks like a lot of the area is very heavily into the "upscale country home" mentality (5 acre lawns). Bummer.

donsgal
wishing you luck and happiness

[MullersLaneFarm]

Forget about finding something that is not outrageously priced within 20 minutes of Rockford - It won't happen. The Chicago influence has reached clear cross the state.

I work in Freeport and we live south of Rock Falls (about an hour drive). Prices are still reasonable here but don't know for how long.

Where abouts in NC?? My family lived a few years down in Kinston and I had a place between Washington & Williamston for 5 years in the early 90's.

If you get up this way, be sure to try to make it to our Homesteading Weekend June 23-24!! http://homesteadingtoday.com/showthread.php?t=171425

[dnw826]

I am in Greenville! Real close to where you used to be!

I know, the prices are outrageous! I am getting very bummed. Unfortunately, these are the only ones we have heard back from and the closest to family. So we need to find something. I refuse to rent again. It is killing me. I need to be back on the farm and have some country quiet. I can't do with this duplex and fireants and no nature.

The prices I have seen around Belleville were ~3-11k an acre.

Here is where I have been looking (realtor.com seems pretty useless to me right now):
http://www.buyafarm.com/
http://www.landandfarm.com/lf/
http://www.raar.com/rsweb/search.asp?cat=1

Off to sulk....

[MullersLaneFarm]

I've flown in and out of Greenville.

I moved up here in '94. My little 5 acres with 3 BR brickhome sold for $70K and I made a profit. I ended up finding a deal on 1/2 acre with about the same size house for $90K - this was 13 years ago! Prices haven't gone down any.

You may have to expand your search to more than 20 miles outside Rockford. The farther south west you go, the more reasonable the prices

[Selena]

Rockford is not expensive folks, housing is actually quite reasonably priced in the grand scheme of things. You will find that small tracts of land can cost a lot per acre. Don't know what your budget is but if you want to PM me with more detail, I'm willing to give you a hand. The 20 minutes from Rockford is that from the N/S/E/W? How many acres and what type of animals, if any, do you wish to keep? Some areas are tricky as your property can be zoned AG but if you are in the city/village limits, you cannot have livestock or horses. And how big of a house do you want, how many bedrooms. Well and septic ok (some folks refuse to deal with septic). What mixture of land to trees - we have 5 acres, mostly wooded (like 4 1/2 acres of it). Wooded acres cost more. But beware as some unscrupulous real estate folks consider 5 trees "wooded".

[Maura]

Just a heads up: when we bought our little parcel of land we discovered that we could not have a MH on the property while the house was being built. The zoning required that only one home be on a single piece of property, regardless of the size of the property. Check into that before you make plans, as well as road setbacks and how easy it is to get water.

Good luck in shopping!

[dnw826]

Originally Posted by Selena

Rockford is not expensive folks, housing is actually quite reasonably priced in the grand scheme of things. You will find that small tracts of land can cost a lot per acre. Don't know what your budget is but if you want to PM me with more detail, I'm willing to give you a hand. The 20 minutes from Rockford is that from the N/S/E/W? How many acres and what type of animals, if any, do you wish to keep? Some areas are tricky as your property can be zoned AG but if you are in the city/village limits, you cannot have livestock or horses. And how big of a house do you want, how many bedrooms. Well and septic ok (some folks refuse to deal with septic). What mixture of land to trees - we have 5 acres, mostly wooded (like 4 1/2 acres of it). Wooded acres cost more. But beware as some unscrupulous real estate folks consider 5 trees "wooded".

Well, we need to be within 20-30 minutes of the community college.

I need lots of trees, I will have chickens, maybe a horse, sheep, a pig, and some cats. But, really, trees are very important for me. I would like to eventually have a small orchard, and I love climbing trees and getting lost in the woods.

The less money, the better, IMO. But up to $160k is what I think that we can do.

[dnw826]

I forgot. Well/septic are just fine. I have my own plans for rainwater harvesting, composting toilets, etc. 3 bedrooms are my minimum.

[Rockin'B]

I am writing this while I sit in my office in Rockford.

We live in Leaf River, which is about 35 minutes drive time to the West and a little south.

Go to Realtor.com and start plugging in the names of towns and use the advanced search to refine it. Choose "surrounding areas" and start looking at what's available. That's how we found our place.
"On average" a decent 3 br home with an outbuilding or two on 5 or ten acres will start at 275k and go up. Some deals to be had on older farm homes that need various amounts of upgrading. There is on 5 acre piece by us with a decent home and nice outbuildings for around 200k. That's a pretty good price and I doubt it will last for long. Good location in very quiet farm country.
Raw land for building on is very hard to find and is priced very high. It's rare to find it anywhere commutable to Rockford. I've seen two new listings for land. One is 25 acres and the other is 105. The 105 acre piece is asking over 7 grand an acre. It won't fetch that anytime soon.

Good luck on your search. If I can help, give a holler.

[dnw826]

Holy smokes. $275k? Wow. And the salary he is being offered is not very high. Looks like Rockford is going to have to pass. That's outrageous.

[Rockin'B]

Originally Posted by dnw826

Holy smokes. $275k? Wow. And the salary he is being offered is not very high. Looks like Rockford is going to have to pass. That's outrageous.

It depends on what you want in a house. I've seen plenty of older farm houses on 5 acres for around 175 to 225 that would take plenty of upgrading but have a lot of potential. I'll try and dig up the listing for that one property that I mentioned above.

[luvrulz]

Another place to check out is www.acreage.com - I am not familiar with IL so you can look for yourself! Good luck!

[Rockin'B]

Here is a good example of what is fairly typical in an older farm house type of property.

Real estate

[dnw826]

Originally Posted by Rockin'B

Here is a good example of what is fairly typical in an older farm house type of property.

Real estate

That is just what I am looking for...except cheaper. If he takes this job, it will be a big salary cut and I think that our mortgage will have to be lower...

[dnw826]

Around Rockford:
http://www.raar.com/rsweb/Listings.asp?LSN=85574&gate=
http://www.raar.com/rsweb/Listings.asp?LSN=86957&gate=
http://www.raar.com/rsweb/Listings.asp?LSN=85779&gate=

These look good. Obviously need some work. I would have to get an estimate. I am becoming more hopeful.

[Selena]

Originally Posted by dnw826

Around Rockford:
http://www.raar.com/rsweb/Listings.asp?LSN=85574&gate=
http://www.raar.com/rsweb/Listings.asp?LSN=86957&gate=
http://www.raar.com/rsweb/Listings.asp?LSN=85779&gate=

These look good. Obviously need some work. I would have to get an estimate. I am becoming more hopeful.

Forreston is not commutable to Rockford (unless you want to drive 1+ hours each way). Can't tell much about the Byron property except it looks near the river. Winnebago property has taxes of $2600 and is assessed (fair market value) of not quite $108K. WINGIS has a decent aerial shot of the property.

[Rockin'B]

My kids go to school in Forreston. It's a good hour away from Rockford. I live just north of Leaf River and it takes me 35 to 40 minutes to get to work in Rockford.

[donsgal]

Originally Posted by dnw826

That is just what I am looking for...except cheaper. If he takes this job, it will be a big salary cut and I think that our mortgage will have to be lower...

Dang. In SW MO you could get 20 acres with a *much* nicer house for that price.

You can't convince me that part of Illinois isn't expensive. Shoot.

donsgal

[Selena]

Originally Posted by donsgal

Dang. In SW MO you could get 20 acres with a *much* nicer house for that price.

You can't convince me that part of Illinois isn't expensive. Shoot.

donsgal

Rockford always rates well on affordable housing. They can't make more land and in areas where things are growing, supply and demand make theirselves known. Add to this that some of the best farmland in the country is in this area and this can tend to drive up prices. There are a number of good schools which drives demand even more. If you know the area, there are good bargains to be found. Depends on what you need in an area - there are 3 hospitals, one a major trauma center, libraries, colleges, grocery stores (locally owned and national chains), pharmacies, clinics, dentists, gas stations all just minutes away. And services for senior citizens, including some transportation services so the elderly aren't isolated if they can't drive.
If you want to live in So IL, you can probably own 1/2 a county for not a lot of money. Few jobs and not much of anything else down there but some dying cities. A somewhat stagnated area. IL is almost like 2 separate states. Would I live in So IL, probably not. It is an area I don't see changing all that much and while out of control growth is not good, no growth/slow death isn't either.