I've been looking to buy a new house for over two years.  It's ridiculous - almost everything was priced 20-30% above fair value.  It's gotten better this season, but most are still 15-20% above market.  I haven't even bothered to make an offer because there's no way I'm getting the sellers down 15-20%.

The laws of interest rates and economics are not driving this market.  "A new mortgage is going to cost me a lot more money because of the higher interest rate....therefore, I need to raise the price of my house".  Ummm, no, that's not at all how it works.

But I get it.  Just no way I'm taking a guaranteed 20%+ hit when the market inevitably does reset.  If I was downsizing, then the math works.  Unfortunately I'm looking for a much bigger place.

This was pretty good timing for us to sell. I thought we missed the top of the market and was worried prices were going to start dropping but that was definitely not the case. It does suck going from a sub-3% 15 year loan to a 7% farm loan, but this was a once in a lifetime shot to buy (part of) the family farm so I'll gladly take the hit for now. Definitely would not have done this just to move to another part of Cincinnati.

Officially closed this morning. Definitely weird to know new people are living in my house of 9 years as of tonight. Kinda wild/surreal to not be a Cincinnati resident anymore after 20 years.

justincredible wrote:

Officially closed this morning. Definitely weird to know new people are living in my house of 9 years as of tonight. Kinda wild/surreal to not be a Cincinnati resident anymore after 20 years.

Is it a farmhouse on land that still farms? 

Ironman92 wrote:

Is it a farmhouse on land that still farms? 

Current living arrangement is my grandma's old farmhouse. There are 11 head of cattle on the property for now (a cousins) and about 10 acres of corn planted (by a farmer on adjacent fields).

I plan to start slowly farming myself. A few chickens and a small (late) garden this summer. Will probably add sheep and hopefully a few hogs next year. If I can bargain shop some cows I would like to start my own small herd asap but at market prices they are way too expensive right now.

justincredible wrote:

I plan to start slowly farming myself. A few chickens and a small (late) garden this summer. Will probably add sheep and hopefully a few hogs next year. If I can bargain shop some cows I would like to start my own small herd asap but at market prices they are way too expensive right now.

City folks don’t understand 

justincredible wrote:

I plan to start slowly farming myself. A few chickens and a small (late) garden this summer. Will probably add sheep and hopefully a few hogs next year. If I can bargain shop some cows I would like to start my own small herd asap but at market prices they are way too expensive right now.

As an ex-farmer myself (when I was a kid this was still a working farm in the process of dismantling operations) I think that's a solid plan. 

I would only recommend maybe getting a donkey or two, or maybe a couple livestock dogs, if occasional braying is not for you lol

We will definitely get a farm dog at some point. I've heard donkeys are good protectors, too. I could see myself getting one.

justincredible wrote:

We will definitely get a farm dog at some point. I've heard donkeys are good protectors, too. I could see myself getting one.

Donkeys are almost a must