# Opinions on how to best sell my homestead



## Texasgirl72 (Feb 6, 2013)

I'm going to attempt a poll. If I mess it up, I apologize in advance and will delete.


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## whiterock (Mar 26, 2003)

From what I have read, it may be best to just sell the land and not worry about the structures. Just price the land accordingly, then buyer can repair or replace the house as they see fit, which will probably be the case anyway.
Ed


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## Texasgirl72 (Feb 6, 2013)

I agree, whiterock however I can not get 1/2 way out of debt even by basing it on land value. And that is half of the goal, the other half being protecting mom. Talked to DH earlier and we agreed that we'd keep improving the place with the materials we already own and see what happens. I can finish a first coat on the exterior, paint the cabinets, etc for zero extra dollars. At least that way I will FEEL like I'm not idling. Being idle stresses me out to no end and the paint won't stay good in those buckets forever! And happily, business picked up this week so maybe I can whittle away the debt while working on making the place look better.


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## quietintheland (Jan 10, 2013)

What is your current selling price as is? How much can you realistically afford to invest in fixing up your homestead? If you made all those fixes and improvements, how much would your selling price increase? 

If you can afford, say, $200 a month, in fixing up the place, I would do it to make the property more marketable. Though I would be extremely choosy in what I fixed/improved/upgraded, focusing on structural and mechanical where you will get dinged on an inspection, and leave the the cosmetic changes for later.

Best wishes,

QuietInTheLand


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## RhiaB (Feb 8, 2013)

Are you the one that is selling the Texas home and land? If so, I would like some info and pics and where it's located. I have been reading these forums for awhile but just joined so I could contact you, I believe. 
I live in wv and we are wanting to move on the outskirts of Dallas, appx an hour away. We are looking for land, about 8-10 acres. 
I saw a post a couple days ago about home and land in Texas and was wondering if this was you. 
Thanks, 
Rhia


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## Texasgirl72 (Feb 6, 2013)

Hi, Quietintheland: I've done most of the 'infrastructure' type things but the house is not marketable because frankly in it's present state it's just plain ugly and incomplete (mortgage cos are picky and will not like to loan on a house w/ plywood floors (see my earlier post for a thorough description just a few posts down). I am going to continue to work with the materials I already have (which will keep us busy for a couple of months and make a great deal of difference.) I've asked the question here on HST b/c homesteaders are pretty darned fearless when it comes to hard work and 'roughing it'. So I seek that perspective, not a city realtor's perspective. Not that you're a city realtor but my best friend is and he is of the mind that it's all or nothing. Heck, I'm from the city and don't mind the plywood (no mopping!!!!) but most ladies would not like an 'unsanitary' living situation. My mom was raised on dirt floors and at 81, she's none the worse for wear but nowadays people are not so easy to please. So, I'm kinda hoping to get a POV from various people before I spend any more money. If business continues to improve (prayers and/or positive thoughts please), then I am happy to purchase more materials when we run out. The house is such that it does not merit the cost of new wood floors or ceramic tiles unless I want to stay here. So, I was thinking vinyl in the kitchens and baths and low end carpet in the rest. But I see whiterock's point. People frequently let the VFD's burn these old houses for training and build what they want. I HATE wasting resources and since my town seems to be dying, I'm not really all that hopeful that I'll sell quickly. A homesteader would be just about the only person who would want to live here. If I actually liked the town, I'd move mom in. As it sits, I envy those who live in Waxahachie and Maypearl. But I may still move mom in and just tough it out, knowing that I'll HAVE to live here as long as she's alive. I don't want to move her from place to place at her age so we will all be stuck here if she comes here. Her company would make living here more palatable since she likes to play board games, etc. but I think she may be too old already to accept such a drastic change (been in her house since 1951). I'm writing a novel here but I am constantly thinking about all of this and it's driving me batty. I want to do what's right by everyone and also what is right by myself and my husband who is perfectly content here. UGH. I wish I hadn't fixed the wiring. I could give myself free electro shock therapy w/ the toaster then. (KIDDING, slightly) Anyway, thank you for your suggestion. It is much appreciated.


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## Texasgirl72 (Feb 6, 2013)

Sent you a PM, Rhia. Our place is just shy of 6 acres so it may not be suitable for you.


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## Joshie (Dec 8, 2008)

You probably cannot borrow against the property if nobody else could get a mortgage. Is the property worth what you want? Is the building worth fixing up? I ask because you say that the wiring is bad and the community is dying. I know you want to use the place to get out of debt but it sounds as if that may not be realistic.


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## Texasgirl72 (Feb 6, 2013)

quietintheland said:


> What is your current selling price as is? How much can you realistically afford to invest in fixing up your homestead? If you made all those fixes and improvements, how much would your selling price increase?
> 
> If you can afford, say, $200 a month, in fixing up the place, I would do it to make the property more marketable. Though I would be extremely choosy in what I fixed/improved/upgraded, focusing on structural and mechanical where you will get dinged on an inspection, and leave the the cosmetic changes for later.
> 
> ...





Joshie said:


> You probably cannot borrow against the property if nobody else could get a mortgage. Is the property worth what you want? Is the building worth fixing up? I ask because you say that the wiring is bad and the community is dying. I know you want to use the place to get out of debt but it sounds as if that may not be realistic.



The wiring is fine now. I've taken care of infrastructure, as it were. The community is either dying or waiting to come back. It all depends on what the city does to invite business here. We've had numerous closings but one place is now expanding and hiring and some businesses are coming this way. We are between Houston and Dallas and I think there's potential but if you want to live here now, count on a commute. I am self employed and don't require a local economy but would like one so that I can eat at diverse restaurants when I want to and not drive an hour to do so. I am kinda 1/2 city girl and 1/2 country girl and therefore, not in love w/ Corsicana. I like the property but crave the variety that the city offers as to food. I will find a happy medium but again, I have other concerns, namely my mother.

Forgot to say, thank you for your input, Joshie. I want everyone's input. I am not closed minded at all. But I think the place is worth my asking price. It was listed at almost 90K when I bought it. I didn't pay anywhere near that but I did put a lot into it and have only made it better, safer and more livable in some respects, less livable in others whilst making it safer.


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## Joshie (Dec 8, 2008)

I ask a real estate agent what (s)he thinks you can get out of the place now. I'd then ask how much various improvements would add to its worth. We got $50K less for our suburban house than it was worth three years ago. Things are not worth what they used to be. <sigh> Things are worth only what people will pay.


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## Texasgirl72 (Feb 6, 2013)

I agree, Joshie. And I'll just stay here if I have to. And move mom down. I think she'd like it but still worry about her adjusting. Luckily, this place is actually more well suited to what she needs than where she's living now if I do the needed improvements. She gets 2 days/month at the Elk's lodge for activity. She needs more. Here, she'd get daily activity if she deemed it necessary and less if she wanted less. I'm seriously on the fence here. We both own our properties. I just need to figure out which one makes more sense to keep long term. Maybe this needs a separate thread. I just have a whole lot on my mind.


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## whiterock (Mar 26, 2003)

Mom may be a lot happier with you there. What is her old neighborhood like now? Is it going down, up or staying the same. I'm goin on 63 and I don't want to live in even a small town, need my space around me.

Corsicana is not a bad place for a small county seat, has the college there, and the cake factory, lol. Sure the values are less but so are the taxes, and you can run up I 45 to take a hit at a restaurant now and then.

What soil do you have? Corsicana is on the edge of the Blacklands so one side or the other can make a difference in soil types.

As to the floors, vinyl and carpet can work, so can a really good paint job with porch and floor paint. I painted my floors, and they are concrete. Like the look it gives with my Texas/Southwestern decor.

Ed


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## Texasgirl72 (Feb 6, 2013)

Thank you, Ed. The soil here is excellent.. sandy loam w/ just enough clay. I brought a shovel when we first looked at the place. I have considered both painting the floors and doing the paper bag flooring which is time consuming but beautiful (IMO). Rhia, who posted above w/ interest and I are becoming pals via email. Now I kinda want her to find another place here so we could be neighbors! I have a driving phobia (I won't use interstates.) so it takes a lot for me to go anywhere. To get to FW, I hook a left on 22 make a right on 308 at Mertens, head up through Venus, Maypearl and Mansfield, then Kennedale on 157. I take that to Seminary Drive and go all the way over I35 to get to mom's house. The driving issue is a problem for sure. Her NH is going Up. She lives in the Fairmount district. So, that's another consideration. She grew up in the country and has agreed to come here or for us to go there. She'd be happier if we came that way but I would miss my farm and feel weird not owning anything. I bought my first house when I was 19 and haven't rented since. (I'm 40 now) So, I won't feel at ease not owning anything, that's for sure. Oh, and you're forgetting that we also have the Lefty Frizell museum and are home to Wolf Brand Chili (or were, until they moved).


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