Saturday, February 13, 2010
Hello Old Friends
I can feel the sunshine flowing through my veins, waking up my sleepy brain. I uderestimate the effects of the long dark winter on my psyche. My focus turns inward, to the bare necessities, and just placing one foot in front of the other. I am sitting in the east bay window letting the morning sun pour over my face, ahh, warmth and awakening.
Things are becoming REAL on the future farm front, we had a successful soil test performed last fall-for a mound septic system, the land was surveyed and the stacks of old ginseng rafters disposed of. The purchase contract is in the mail to us as I type.
We are buying 4 acres plus a 800' x 33' driveway easement for $3,000 an acre. This is a little higher than the $2,000 to 2,500 which seems to be average for farm land in this area-but it is adjacent to dad's 40 acres and that was important to us. We will also have a land contract for the remaining 15 acres of farmfield at the same price at 3% interest for 10 years, with the option to pay off early.
This is a little convoluted but the bank assessed the property at $2,000 an acre which meant to get a bank loan we would have needed to place %15 percent down PLUS the $19,000 dollar difference between assessed value and purchase price. We decided to buy the building site and driveway outright to make the bank happy when we do the construction loan and final mortgage, and Mr. Nice Farmer will finance the remaining 15 acres at a very NICE interest rate while allowing us full use of the acerage. Now all we have to do is live in our camper while the house is built, sell our current house and start the girls in a new school!
(Picture from last fall-view towards the south-the house will go about 100 feet down this south facing slope with a view of Dad's woods-to the left of this shot- and slough.)
More tomorrow about my ideas for the farm!