# Question about worth of farm



## MisFitFarm (Dec 31, 2007)

We have 10 acres in Kentucky, near Owensboro. The house is almost 1400 square feet, with three bedrooms and one bath. Master bedroom is downstairs, with his and hers closets. Two smaller bedrooms upstairs, each with a closet, and seperated by a small landing area. Living room is 15x15, and large Kitchen has dining area at one end. It is heated by propane, and has a septic tank. No one lives across the road, and the view is of hundreds of acres of fields and trees.

Acreage is approximately half and half pasture and woods. The barn is very old, and needs work, but is usuable. There is a well, but we don't use it. The only fencing is electric wire.

There is an older, open front garage, a storm/root cellar by the driveway, and a workshop that has been turned into a goat house. Once cleaned out, it has electricity and an older wood stove(never used, know nothing about it).

The farm is located two tenths of a mile from the main Hwy, and is the first house on a dead end road. 

Now, I know land values vary from area to area, but just a simple opinion please, do you think $90,000 is a fair asking price?


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## mnn2501 (Apr 2, 2008)

ANy Real estate agent will give you an estimated Fair Market value anaylsis in an attempt to have you list with them. Call a couple in your area and tell them your planning on listing your home and would like to find out more about teh process of listing with them and what your home could reasonably expect to sell for. When I sell a house I usually have 3 realtors from different companies in the area give me their sales pitch and then pick the one I like best - theres no law saying you must use them, but for a fee (usually 6% of sales price) they can make the sales process smooth.


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## Giant (Apr 30, 2008)

When was the house built. What are your yearly taxes?


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## MisFitFarm (Dec 31, 2007)

The original two story portion of the house is not listed on anything, as far as a date for when it was built. The back portion of the home was built in the '60s. The taxes and insurance are built into our house payment, I think the taxes are around $600 to $700 per year.


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## pookiethebear (Apr 29, 2008)

MisFitFarm said:


> The original two story portion of the house is not listed on anything, as far as a date for when it was built. The back portion of the home was built in the '60s. The taxes and insurance are built into our house payment, I think the taxes are around $600 to $700 per year.


wow only $600-$700 a year for taxes??!! I am definately in the wrong state.... I have a smidge under 6 acres, and am paying 2000 a year..... *sigh*


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## mnn2501 (Apr 2, 2008)

pookiethebear said:


> wow only $600-$700 a year for taxes??!! I am definately in the wrong state.... I have a smidge under 6 acres, and am paying 2000 a year..... *sigh*


I have a house on a city lot and am paying $3800 a year for taxes -- and you think _you're_ in the wrong state! lol


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## marvella (Oct 12, 2003)

geez loiuse! i thought mine were bad- new house, nice DW on 16 acres and they went up to $841.


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## stranger (Feb 24, 2008)

is there a stream going thru the property or any wet spots,springs ect?


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## MisFitFarm (Dec 31, 2007)

There is a small creek at the end of the back pasture, and around the edge.The lower end of the back pasture stays wet. I had thought about putting a pond there.


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## onthespot (Oct 7, 2007)

do post pics


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## MisFitFarm (Dec 31, 2007)

Let me see what I have saved in the computer, the camera is on the fritz!


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## MisFitFarm (Dec 31, 2007)

:stars: Ok, can't figure out the pictures!:stars: If someone wants to PM me, I'll give you my email address, and then email as many pictures as I can find to you. Sorry!


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## Spinner (Jul 19, 2003)

You people are making me feel bad. My taxes on 10 acres w 3/2 house, huge barn, and several outbuildings is zero. That's right, the taxes is $0.00. I must be in the right state! whoohooo!!!


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## MisFitFarm (Dec 31, 2007)

Spinner said:


> You people are making me feel bad. My taxes on 10 acres w 3/2 house, huge barn, and several outbuildings is zero. That's right, the taxes is $0.00. I must be in the right state! whoohooo!!!


Ok, I'll bite: How come your taxes are zero?


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## Spinner (Jul 19, 2003)

MisFitFarm said:


> Ok, I'll bite: How come your taxes are zero?


Cause I live in the right state. LOL 

Seriously... We get homestead exemption on our taxes. Here in Oklahoma you get a single exemption for living on the homestead, then we get a double exemption when we turn 65, and we get a triple exemption when your spouse turns 65. You get another exemption if you are disabled. I only have a single exemption for living on the homestead but I'll apply for the double this year when DH turns 65, and I'll apply for the triple when I turn 65. That should keep our tax either nill or at least low for the rest of our lives.


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## stranger (Feb 24, 2008)

Spinner said:


> Cause I live in the right state. LOL
> 
> Seriously... We get homestead exemption on our taxes. Here in Oklahoma you get a single exemption for living on the homestead, then we get a double exemption when we turn 65, and we get a triple exemption when your spouse turns 65. You get another exemption if you are disabled. I only have a single exemption for living on the homestead but I'll apply for the double this year when DH turns 65, and I'll apply for the triple when I turn 65. That should keep our tax either nill or at least low for the rest of our lives.


 lucky you, i get some off my school taxes for being a senior citizen and pennies off my land tax for being a veteran


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