Citrus Growers Forum

dauben · Posted: Sun 07 Sep, 2008 4:35 am

I'm looking at a foreclosed home for sale in the town I work in that I thought I'd share. It has 4 acres of citrus planted on it so obviously it's a selling point for me along with lowering my commute time from 1.5 hours per day to 10 minutes. The downside is that I'm waiting for the price to come down and I doubt the groves are getting watered while I wait. Anyway, the picture below shows the house I'm looking at in the center. The house to the lower left is identical an was foreclosed also. It just sold at auction for $90K less than what the asking price was for the one I'm looking at.

Anyway, I thought I'd throw this out there and get a topic off of politics. We can start a thread on the foreclosure mess. . . .

Phillip

bencelest · Posted: Mon 08 Sep, 2008 12:07 pm

I just bought a foreclosed house for $275k at 5.865% interest which was priced for $540k before .
But don't wait too long. The interest rate is inching upward now.
I have it rented right away with positive income.
I am lucky I might say.

dauben · Posted: Mon 08 Sep, 2008 5:15 pm

bencelest wrote:

I just bought a foreclosed house for $275k at 5.865% interest which was priced for $540k before .
But don't wait too long. The interest rate is inching upward now.
I have it rented right away with positive income.
I am lucky I might say.

With the US Government taking over Fredie Mac and Fanny Mae, interest rates actually declined today (but you're right that they have been climbing). If I wait too long, it's more likely that the house will go to auction or be sold. Ohh well, if it happens it happens. We're comfortable in our 0.11 acre townhome, but the walls are closing in as our family expands.

Phillip

Millet · Posted: Mon 08 Sep, 2008 6:24 pm

Dauben you are invited to come to Colorado, where you can buy the same house and property for 1/2 the price as in California. In Kansas, for 1/3 the price. I recently purchase some additional acreage that bordered the south side of one of our fields, from a United Air Lines pilot that was moving in retirement. It comprised of 40 acres of land with a 3 br.air conditioned home, large metal barn (was an air plane hanger for a private air plane he had ), a farm office building, and new horse stables for 250K. In southern California, who knows what the price would be. Dauben, Colorado is still looking for a few good men. - Millet

dauben · Posted: Mon 08 Sep, 2008 10:54 pm

Millet wrote:

Dauben you are invited to come to Colorado, where you can buy the same house and property for 1/2 the price as in California. In Kansas, for 1/3 the price. I recently purchase some additional acreage that bordered the south side of one of our fields, from a United Air Lines pilot that was moving in retirement. It comprised of 40 acres of land with a 3 br.air conditioned home, large metal barn (was an air plane hanger for a private air plane he had ), a farm office building, and new horse stables for 250K. In southern California, who knows what the price would be. Dauben, Colorado is still looking for a few good men. - Millet

I lived in Kansas when we first got married. Housing was much cheaper, but I was also making 40% of what I am making now. What's funny is that we were going to move to Colorado because it was halfway between my home (San Diego) and my wife's home (Lee's Summit, Missouri). I felt that my career and ability to support my family was here in San Diego. Now that I'm here, our financial needs are met, but now I wonder what impacts living here will have on my kids. I worry about their ability to find spouses that aren't absolute bums and the impact of a society where "moral relativism" is the preferred gospel. My wife's entire family (parents and brother) moved from Lee's Summit to San Diego within this last year. My head would be on a platter if I decided to move back now. Smile

Thanks for the invitation though. Maybe I can come for an extended visit. Smile

Phillip

Millet · Posted: Tue 09 Sep, 2008 12:43 am

Dauben said......."I lived in Kansas when we first got married. Housing was much cheaper, but I was also making 40% of what I am making now........

Kansas still sounds good to me -- considering your alternative. Could be worse though - you could be in Los Angeles.

Take care and the very best to you and your lovely family. - Millet

BabyBlue11371 · Posted: Tue 09 Sep, 2008 2:04 am

Lee's Summit.... FAR FAR Eastern Kansas.. Wink

My family on mom's side just had a family shindig there.. ok.. so 30 miles southwestish of LS there @ Cleveland.. I had to miss out this yr.. Crying or Very sad

They have family party/ reunion there every yr.. So there is always next yr..

As for the property... I say if you can do it... go for it!! That is a very nice place!! Farm life is great for kids!!! get ya a few chickens and a couple of goats and you'll be set!! Wink

Chickens for the bugs and goats for lawn mowers..
Don't forget to get ya an OLD beat up Ford to sell Citrus out of the back of on weekends!!! Laughing

Gina *BabyBlue*

_________________
Click for Neodesha, Kansas Forecast

dauben · Posted: Tue 09 Sep, 2008 2:40 am

BabyBlue11371 wrote:

Lee's Summit.... FAR FAR Eastern Kansas.. Wink

Knowing the rivalry between Missourians and Kansans, I suspect Kansas woldn't want to lay claim to any part of Lee's Summit, Missouri (or Misery as Kansas's like to say). I actually lived in Overland Park, KS and worked on the Missouri side of State Line Road. I recall bitter words being spoken of each State depending on the where the person lived. My ancestry came from Hume, MO and Baldwin, KS, but I do have to say I prefer the Kansas side.

BabyBlue11371 wrote:

As for the property... I say if you can do it... go for it!! That is a very nice place!! Farm life is great for kids!!! get ya a few chickens and a couple of goats and you'll be set!! Wink

Chickens for the bugs and goats for lawn mowers..
Don't forget to get ya an OLD beat up Ford to sell Citrus out of the back of on weekends!!! Laughing

I can't afford their asking price, but I was going to possibly make an offer of 25% of what theire asking. If it works out great, if not, I have time for the market to keep sliding. As far as the beat up Ford, I guess it's finally an application a Ford could be used for since they don't drive. I'll have to tow the Ford to the edge of the road with my Chevy. Smile

Phillip

Sylvain · Posted: Tue 09 Sep, 2008 4:58 pm

dauben wrote:

With the US Government taking over Fredie Mac and Fanny Mae, ...

Arf!

I thought Private management was better than public management?!!
Laughing

Sylvain.

Millet · Posted: Tue 09 Sep, 2008 8:05 pm

Private is better--and by a far far measure. Being French, I don't think you really understand Fredie and Fanny. Fredie and Fanny never has been a private corporation. It has always been part government, and therein lies the problem. - Millet

"That government is best which governs least" = Henry David Thoreau

BabyBlue11371 · Posted: Wed 10 Sep, 2008 2:35 am

Yes Phillip.. Lee's Summit has to be far far east Ks.. I can't have relatives from Misery.. Wink

I have nothing against Mo.. and I don't get into the KU KSU rival thing.. But it is good fun to joke now and then.. So long as it is all in good fun.. Very Happy

I love my little pee spot in the road town.. but I can poke fun at it too.. I am firm belief.. if you can't poke fun at yourself then you can't poke fun @ others..

Good luck on the offer!!! I hope they say yes!! If not.. then there must be something better in store for you!!

Gina *BabyBlue*

_________________
Click for Neodesha, Kansas Forecast

dauben · Posted: Wed 10 Sep, 2008 2:46 am

BabyBlue11371 wrote:

Yes Phillip.. Lee's Summit has to be far far east Ks.. I can't have relatives from Misery.. Wink

I have nothing against Mo.. and I don't get into the KU KSU rival thing.. But it is good fun to joke now and then.. So long as it is all in good fun.. Very Happy

I love my little pee spot in the road town.. but I can poke fun at it too.. I am firm belief.. if you can't poke fun at yourself then you can't poke fun @ others..

Yes, the thing I like most about the midwest is that you can go into a complete stranger's home and instantly feel like part of the family. You don't see the "down to earth" nature of people like that on the left coast. I'll never forget driving my father-in-law's Honda to go pick blueberries south of Kansas City when the car overheated. We parked in a rural cemetary to let it cool off when someone stopped by to see what we were doing. I explained the situation and he went on his way. Next thing I know, he's back with a bottle of water that he purchased at convienance store. I offered to pay him the whopping $5 he spent on water for a stranger, but he refused. His car didn't look in any better shape than my father-in-law's, but he managed to do this good deed for someone having a very bad day and a long trip back to Misery.

BabyBlue11371 wrote:

Good luck on the offer!!! I hope they say yes!! If not.. then there must be something better in store for you!!

I went to look at the inside of the house today. It looks like it was nice at one time, but the previous owners trashed the place. They obviously had animals in every room because it smelt like a barn. The citrus groves are also half dead. I'm going to lower my offer even further and see what they say. If they laugh, it only hurts my pride.

Phillip

harveyc · Posted: Thu 11 Sep, 2008 4:18 pm

Phillip,

Are you able to get enough water to fully plant and maintain this place? It looks like it was previously a farm. Do you get lower farm rates or have to pay residential rates for water there?

I suggest you keep your plantings to a size that you can easily maintain without too much work. It can greatly cut into family time if you're having to spray for pests, harvest, market, etc. Even if you don't do it for commercial profits, picking up wasted fruit or trying to give it all away can be a fair amount of work. When I first bought this farm, returning to my childhood area, I thought about taking an old pear orchard around the house out and just planting landscape trees, creating a park on 5 acres or so. I decided to farm the pears for a while for the tax benefits (depreciating the supposed value of the pear trees), but it was a bad choice. I invested quite a bit in equipment and would get up at 5am in the winter and spring to spray my trees before heading off to my job that actually made money. I finally took them out five years later, partly because of the concern over pesticides near our house after my wife finally gave birth to our son after we had tried for 13 years, but also because of the economics. I planted chestnuts and those are much better altnernative, but it also keeps me very busy during harvest and shipping season from mid-September until around Thanksgiving with no time for family trips, etc. It's better now that I've retired from my off-farm job. Still, sometimes it's fun but sometimes it's not. Just make sure you don't make too much work for yourself!

_________________
Harvey

dauben · Posted: Fri 12 Sep, 2008 12:39 am

harveyc wrote:

Phillip,

Are you able to get enough water to fully plant and maintain this place? It looks like it was previously a farm. Do you get lower farm rates or have to pay residential rates for water there?

The water at this place is free (from a well) except for the cost of pumping. One of the things I'll be looking into is the groundwater table. The surrounding area is mostly livestock and not much ag so I don't know how much water is being used on them.

harveyc wrote:

I suggest you keep your plantings to a size that you can easily maintain without too much work. It can greatly cut into family time if you're having to spray for pests, harvest, market, etc. Even if you don't do it for commercial profits, picking up wasted fruit or trying to give it all away can be a fair amount of work. When I first bought this farm, returning to my childhood area, I thought about taking an old pear orchard around the house out and just planting landscape trees, creating a park on 5 acres or so. I decided to farm the pears for a while for the tax benefits (depreciating the supposed value of the pear trees), but it was a bad choice. I invested quite a bit in equipment and would get up at 5am in the winter and spring to spray my trees before heading off to my job that actually made money. I finally took them out five years later, partly because of the concern over pesticides near our house after my wife finally gave birth to our son after we had tried for 13 years, but also because of the economics. I planted chestnuts and those are much better altnernative, but it also keeps me very busy during harvest and shipping season from mid-September until around Thanksgiving with no time for family trips, etc. It's better now that I've retired from my off-farm job. Still, sometimes it's fun but sometimes it's not. Just make sure you don't make too much work for yourself!

Thanks for the advice. As of yesterday though, the trees were half dead due to not being watered for months. I suspect many of the trees in the picture won't make it. As for the trees that do make it, I'll have an extra 1.5 hours each day that I don't spend on the road. I'm hoping that this will be sufficient for both extra family time and work around the "farm". Anyway, right now, I have no idea if I'll get the property or not. They're asking $475k and I'm offering 60% of that (if my wife likes the house enough once she sees the inside). The house is only 8 years old, but the prior occupants I think used the house as a barn. Urine smells permeate the house and the walls have rub marks from unknown animals. After the carpet is replaced and walls scrubbed and painted, I can envision a very nice house (my wife may not get past the odor, but fortunately she's over the morning sickness Smile

). Internet access is the only issue. The previous people had satellite internet, but I'm thinking about an AT&T Wireless data plan. Either way, it's much more expensive that my current internet plan through the cable company.

Phillip

JoeReal · Posted: Fri 12 Sep, 2008 12:52 pm

Wow, that would be a steal deal!

Commercial sized greenhouses can be had for less than $8K if you assemble them yourself and would ideal on that property.