redzip
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Post by redzip on Apr 6, 2014 23:22:49 GMT
Our housing market is beginning to come back, as well,
altho vacation homes are generally the last to recover.
The farm I'm talking about has 12 acres, and a 2 bedroom house,.., looked at the sign
on my way home from work.
I thought $399 was reasonable for a built in business, altho it did not sell at that price.
Also, I live in an area where you can have your own horses in your own yard fairly easily, with enough acreage (5 acres).
I think it was priced too low, its with a different realtor now, and I can't access their website very easily.
The only downside to it is a shared road, and the fencing is showing its age.
Nor for such a nice facility, to only have tape fence and tposts comes across as cutting the corners.
I think wood fence would look much better, as its limited acreage.
SL, you need to move to the mid Atlantic!
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Post by shadowlark on Apr 7, 2014 0:56:01 GMT
Yeah, I'm pretty sure she has 38 acres, and is only about half an hour from Edmonton so easy access to the city. Housing prices are ridiculous up here!
Sorry, can't leave Canada unless it's for Scotland! The thought of having to pay for healthcare scares me! I'm always sick and god forbid I break another bone - don't wanna have to pay $3000 just for a cast! I know our taxes are higher, but it's worth it to me to not have to worry about being on the hook for $250,000 because I was in an accident or developed some horrible illness!
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redzip
Junior Member
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Post by redzip on Apr 7, 2014 9:30:34 GMT
Well, honestly, acreages only appeal to certain people. If you aren't a farmer, its can be overwhelming, dealing with bigger tracts of land, with several outbuildings, etc. We have 37 acres and we don't do anything with the 25+ acres of trees that are on it, nor do we get any sort of tax relief, etc. (we walk on our trails, and a friend hunts here, but no extra income). Buildings require maintenance. In her case, if she grew her own hay, etc, that's a plus (and it can be a hassle too,.., I've been there/done that  ). Also, for someone that only has 9 stalls, where do you make the mortgage on those 9 horses?? I don't think its enough income on the horses alone, to pay back $1 million dollar loan. I've seen people here, during the height of the market, buy a chicken producing farm for a $1 million, with modern, income producing, chicken houses in place, so she could pursue her riding/horse training career. She/they didn't even last 3 years before they lost it all.
And they were producing chickens, and she was selling and training horses.
A million dollars is A LOT of money as a mortgage, and if you're buying it as a business,
the business is usually part and parcel as to why you want it.
So it pays back the mortgage, and you get to live a certain lifestyle.
I don't think the numbers make sense, as doable as a business,
which IMO, makes it a hard sell unless its to a developer.
Properties generally sell based on the assessments, and what other, neighboring properties have sold for.
They are the comparables that help determine the actual price.
JMO 
But I watched A LOT of people, lose everything during the past market rise and fall,
thinking a million dollars wasn't all that much.
I also know a small handful of people who made money during that time.
So I know both sides pretty intimately.
Not saying you think that SL, but 'just saying' based on my personal experience and for 'discussion' sake. |
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redzip
Junior Member
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Post by redzip on Apr 7, 2014 14:49:08 GMT
Found the ad for the place I'm talking about, I was incorrect,., 8 stalls, 12 acres, olympic sized arena, pastures with run ins, $316k. they've lowered their price by $70k   For Sale! Equestrian facilities in Salisbury Maryland! Indoor FEI Olympic size arena, 8 stalls, lights & video. Includes 2 bedroom home. Near Ocean Downs $316,000 Kate 410-829-0705 Its a nice facility  I think its as nice as EA's, according to her photos, in her sale ad,., IMO www.remax-realestate-central.ca/listing/ardrossan/rural-strathcona-county/e3354091-53269-r-221-rdShe has a bigger building, because of the colder temps, I think,., its all contained,.., but this is a nice place, and its been very well maintained. |
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Post by shadowlark on Apr 7, 2014 22:17:50 GMT
WOW! That IS a nice place! For $316K here in Edmonton, you'd be lucky to get a townhouse. I must rethink this opposition to moving to the States!
Does anyone know how long EA has been at her place? If she's been there for a while, she may have bought for a MUCH lower price but it's now valued close to the $1 million mark. My parents bought their 3 acres in 1992 for $150K and it's valued at about $250K now (yes, $250 for only 3 acres - prices are HIGH up here!) So if she's been there 20+ years, she may have paid maybe $500K. Which is a much more manageable mortgage. Her site says they board 12 horses - so 9 at the indoor rate of $475 and say 3 at the outdoor rate of $380 is $5415. Does her partner work? I would assume so, so his salary plus the $5415 is more than enough for a mortgage.
I think our pricing crashed a few years back (I don't really follow these things) so if she bought when it was low, that would help too.
Her ad says it's set up so one person can run the place, so if her partner works, depending on what he does, even the $1 million mortgage would be doable. Remember, we're in oil country, so if hubby is in that field he could be making a killing! So his salary + board + lessons/training income, it's doable. If we had the down payment, we'd have no problem making the mortgage thanks to hubby's salary. I just wouldn't want to give EA my money! LOL
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redzip
Junior Member
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Post by redzip on Apr 7, 2014 22:52:23 GMT
€€ built her place in 2004, according to her website,.., so 10 years of business. She has claimed she wants out due to health problems. www.hillsidestable.ca/That was the height of the market here in the US,.., When did Canada start to experience its rise in RE prices? Just curious? Problem with a mortgage that size is, over 20-30 years, you pay 3x that much. I can't see ever making any money at sale time, especially when the bubble bursts (and it does). That is the problem anyone in my town saw when buying $1 million properties, they lost 1/2 the value in the down market, and they can't get that same amount out of it, when it sells They HAVE to stay 'in it' for the long haul, bc it won't see that $1 million mark again for 20 years (or more, if ever). Not to mention, that payment comes EVERY month, so as long as everything remains consistent, its fine. If somebody gets hurt or sick, boarders sell their horses, etc, you still have to make up that difference to the bank. I wouldn't want to be on the hook for that kind of mortgage, JMO Yeah, I think that place near me is very nice for a small boarding operation.I honestly think the price is right too. Only thing, the house is kind of small, but not bad looking, I've seen it. |
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Post by shadowlark on Apr 7, 2014 23:07:43 GMT
Hmmm I'm not sure when our prices started to rise. True, didn't consider the interest on a 20-30 year mortgage....I don't think of these things since we rent. I know that the 3 + 1 bedroom, 1.5 bath bungalow we'll be renting as of next month would probably get about $400K if it was on the market cause our prices are high. I'd rather have the place near you! Sometimes I feel like we'll never have our own place we can have horses cause prices are so high! It's kind of depressing! |
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redzip
Junior Member
Posts: 1,701
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Post by redzip on Apr 7, 2014 23:12:19 GMT
Hmmm I'm not sure when our prices started to rise. True, didn't consider the interest on a 20-30 year mortgage....I don't think of these things since we rent. I know that the 3 + 1 bedroom, 1.5 bath bungalow we'll be renting as of next month would probably get about $400K if it was on the market cause our prices are high. I'd rather have the place near you! Sometimes I feel like we'll never have our own place we can have horses cause prices are so high! It's kind of depressing! Plus the insurances, the maintenance, upkeep,.., its A LOT to be attached to for 20+ years. LOL, You better LOVE to cut grass, muck stalls, and run a tractor  |
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Post by shadowlark on Apr 7, 2014 23:56:48 GMT
Hubby will have to cut the grass cause I'm allergic to grass clippings - so either he does it or builds me a plastic bubble to sit in on the tractor!!
I'd like to have enough land for my horses and maybe a couple rescues. Small barn for emergencies/farrier/vet but otherwise outdoor board - OMG Lucy got sooo fuzzy this past winter, it was adorable. Shelters for bad weather. And an indoor. If I ever get my own place, it has to have an indoor!
When we originally moved to Alberta, I briefly considered going to check out her place for boarding, but once I saw more of her posts I knew it would never work out so I didn't even bother to go check her out! Don't think I could put up with her attitude!
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redzip
Junior Member
Posts: 1,701
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Post by redzip on Apr 8, 2014 1:38:50 GMT
Every time I drive by the place I posted, I think, what a great little facility.
Sounds PERFECT for you, just the wrong country!! LOL!
I honestly can't believe its sat on the market all this time.
Altho, I believe it is currently leased out, there are horses there, it obviously hasn't sold.
I'm not sure if an individual is leasing for private, or as a business.
I know a rescue was keeping a few horses there for awhile.
I'd LOVE that indoor!!!!
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Post by shadowlark on Apr 8, 2014 2:51:34 GMT
I love having the indoor where I am, even if it is smallish. There's hardly ever anyone else there when I go out so for one person it's decent. And with the winters here, it's definitely a bonus (not that I rode this winter - gotta get my knee taken care of, but that's another thread!).
I wonder what her ad means when it says it's set up for one person to run everything? What does that entail, I wonder?
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Post by horselover4life on Apr 8, 2014 10:01:33 GMT
One-person set-up I would think would allow 1 person to do all the chores of stalls, feeding, etc...
It is all under one roof right? And not a huge amount of stalls, nor rings needing dragged..so to me = one person doable.
What is there is what some have for personal horses at home minus the indoor...
Small intimate business for someone if they wanted or a nice single person riding facility private. Commercial with boarders and multiple riders at once...indoor to me is kind of tight but I am spoiled by riding those Olympic sized huge things with hardly another few in them at the same time...I also rode "off-hours" so bonus of space for me.
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redzip
Junior Member
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Post by redzip on Apr 8, 2014 12:08:52 GMT
HL4L did you check out my ad above^^ I (wishfully) think to myself, 'what a nice spot', everything's already done. I love our place, BUT I'd really LOVE that, on our property,.., SIGH |
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Post by horselover4life on Apr 8, 2014 14:03:31 GMT
I saw the ad you referenced...
Beautiful facility...private or for a select trainer and specialized clientele.
I look at that with what you wrote and immediately thought this is a upper level competitor who needs to train when they need to train and has various horses at various levels...
I also would love to have a facility such as this...ride when you want regardless of the weather conditions...and to have the ability to ride at that level that demands such a facility...as you said...sigh...
Someday when I win the lottery...
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Post by windlakeeq on Apr 8, 2014 18:24:55 GMT
Some new properties have come up in our area. I keep looking at the market. The one in Moultonborough is higher priced, but what a beautiful and working place it was. The site is www.nhfarmsandbarns. It is always nice to dream and keep buying those lottery tickets. |
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Post by horselady on Apr 8, 2014 18:55:49 GMT
My way of thinking if the farm that ** has for sale is as a business she will have to show books to justify that price and in the horse market she can not come close. she would be better off selling as a gentleman farmette to someone who has horses and money.
as for my place .check out the website in my signature and i have 38 acres and access to another 80 about 45 acres fenced in.(yes i fenced in property that does not belong to me with permission from the owner) and the arena 12,000 sq feet
barn with 11 stalls another building with a 2 bedroom living quarters and capability for about 8 more stalls, there are 3 there now.
plus work shop. run ins and my house
and this is so big and so much to do that one person can not do it all.
also to go with property is contracts for 18 boarders, and who ever buys my place has to guarantee the life residency of several of my horses also.
near albany and kingston plenty of shopping and work opportunities.
Shadow insurance is no big deal in the united states. i know people that come from canada to work and get health care and when they retire they go back to canada.
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nhg
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Post by nhg on Apr 19, 2014 17:28:45 GMT
I just found this thread. Interesting.
The Alberta place is located in an area known for keeping horses. I don't know what the horse per acre ratio is in Strathcona County so I don't know how many she could board. If the place could grow at least some of it's own hay that would help a lot. We get years where there's a drought here in Alberta and when that happens hay is crazy expensive if you can find any. From the pictures it doesn't look like mowing is an issues. We live east of Calgary and it would be impossible to find a place with an indoor arena and automatic waterers for under a million bucks. The cheapest acreages around here are over $500,000 and that's a few acres with a mobile or crappy old house. House prices in Calgary are said to be an average of $450,000 but for less than that you're living in a questionable part of the city. I watch a show that takes place in Vancouver about renovating houses and they have crappy little bungalows built in the fifties or sixties that sell for 3/4 of a million dollars before they're renovated. Unbelievable. I've looked on line at acreages in Kentucky and they're just beautiful and are a fraction of what they are around here and we don't have many trees or homes like they have.
The real estate market in Canada is very different from the states as far as some of the plunges you guys have had. The government in the states had that program that set up people with mortgages for more than their home was worth and that came to a crash. Things have just been done a little differently there than here. We have dips but that's it.
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redzip
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Post by redzip on Apr 21, 2014 7:41:28 GMT
The crash of the real estate market in the states had everything to do with the stock market, which effects everything, around the world. Hubby and I always talk about the US as NOT being an accurate barometer of anything occurring elsewhere in the world. EVERYTHING is cheaper in the states, and currently being in the UK is additional proof of this statement. EVERYTHING is more expensive here, but probably more 'in line' with real world prices. We are paying just about double what we'd pay in the US. As far as €€'s farm, I just personally think I would pay NO WHERE NEAR that price, for that property  Don't like it, its not pretty, its not 'all that' IMO. Thank goodness I live in the states where I can have my 'dream farm' for under that asking price. |
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Lipizzan
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Europe, Croatia
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Post by Lipizzan on Apr 21, 2014 11:13:43 GMT
I know exactly what you mean. In my country, everything when down hill in past two years. We all strugle to have at least normal life.
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Post by horselady on Apr 22, 2014 0:25:44 GMT
The prices around the world are scarey, I check the real estate section using craigs list and i am amazed of the rentals and sales prices from countries that i would think that prices would be so much lower.
perhaps i will ask for more for mine when it is time to sell.
and it is with boarders and a business.
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