A True Family Farm Legacy In Chatham County

A TRUE FAMILY LEGACY FARM IN CHATHAM COUNTY! LARGE ACREAGE PROPERTY WITH MANY OPPORTUNITIES! A CONSERVATION DREAM in its natural state and owned by the same family for decades! Truly One of the Most Gorgeous Farms in North Carolina! 681+/- Acres of Beautiful Rolling Farm Land in the Silk Hope Area in Chatham County. Open Fields, Timber, Ponds, Creeks, Natural Areas, Wildlife, Road Frontage and More make up this One-Of-A-Kind Trophy Property. Parcel 73618 is Sold with this Listing for a total of 681.45 Acres. CALL FOR DETAILS AND A SHOWING!

Parcel Numbers Include 11797, 73618, 11689, 14819, 11798, 11785 & 11801. The Old Home, Barns & Property are Sold “AS IS”. Seller to Make No Repairs. Old Home is Sold at No Value. Local Farmer Currently Grazes Cattle on Property. Farm and Hunt Lease will be discontinued at Closing. $3,925,000

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Legacy Farm in Orange County NC

The Rockbrook Farm in Orange County

SPECTACULAR LEGACY FARM IN ORANGE COUNTY FOR SALE ON OVER 90 ACRES! CALL FOR DETAILS AND A SHOWING!

THE ROCKBROOK FARM IS A GORGEOUS HORSE FARM on over 90 Acres, minutes to I40, Shopping + Tanger Outlets and more. Own your dream Country Estate or Equestrian Property! Open fields and pastures, Mature trees, World-Class Bass fishing lake, Rolling topography with plenty of wildlife habitat. Family Compound + Plenty of Space for other Home Sites! Refreshed Homestead is 3 BR, 2 full BA, Garage, true laundry room, and more. 4-Stall Horse Barn + Tack Room surrounded by FENCED PASTURES READY FOR HORSES!

The Lake is stocked with Bass and other Fish Species and has Canvasback, Widgeon, and many other Species of waterfowl that visit each winter! Deer, turkey, and other wildlife are plentiful as well! This is one of the Prettiest Farms in Orange County with Development Potential! Don’t miss out! $1,750,000

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S&H Farm for Sale in Granville County NC

40+ acres bordered by the Tar River with hardwood timber at the back and open fields anchoring the front of the property, the majority of S&H Farm is open, rolling pastures.

House main floor: master, two closets, door less shower, laundry room, and exercise room leading to a private deck. Great room, dining room, remodeled kitchen, over sized screen porch, pantry, 2 offices and large open cat walk foyer to the second floor master and 2 bedrooms and bath. Two-car garage and a detached shop/studio. The front porch adds to this well designed comfortable and inviting living space next to a spring-fed pond.

The main barn is a commercial-grade metal building divided into three areas; (1) Shop/stable; 3 overhead doors, vehicle lift, door leading into ( 2) Office; currently decorated as a step free 2 bedroom, handicap friendly apt with wide doors, full kitchen/great room, washer / dryer, separate HVAC and private deck. (3) Studio, shop / tack room; stainless steel sinks, sealed climate controlled storage area and attached covered green house. Barn has geo thermal heating and cooling, bath, on a fiberglass reinforced polished concrete pad.

The base of the organic farming operation remains; one commercial greenhouse, two open growing pads, storage/ pump house in a deer fenced enclosure.

Two additional support buildings: 40 x 50 metal pole barn and Four Season green house / growing tunnel.

Bullet spec page summary upon request.

All designed for an easy conversion to your personal family or business compound.

(Three of the four tunnels in the VIDEO are sold and being removed).

This is a family compound, a family business or both, and a very unique as well as exciting property.! For those looking for a winery or horse operation… this farm has a very strong platform that would require minor adjustments for either.  Access the floor plans here!

 

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Wake Forest Land for Sale

PRICE DROP TO $299,000! This is the perfect Mini Farm opportunity in Wake Forest on 5820 Zebulon Road! Just minutes from Rolesville and Raleigh, this 10 acres has large open fields, a nice sized pond, and 3 bedroom started home. The home could be updated or moved and soils work has been done so call us for maps and details. $299,000

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Labor Market Continues to Strengthen In July 2018

Overview: The labor market reports were the only major economic data released over the past week, and they came in right on target. As a result, mortgage rates ended the week with little change.  There were no surprises to be found in Friday’s important Employment Report. The economy gained 157,000 jobs in July, below the consensus forecast of 190,000. However, upward revisions added 59,000 jobs to the results for prior months, offsetting the shortfall. The economy has gained an average of 215,000 jobs per month so far this year, even higher than the strong pace of 184,000 seen over the same period last year. The unemployment rate decreased from 4.0% to 3.9%, as expected. Average hourly earnings, which is viewed as an indicator of wage growth, also matched expectations. They were 2.7% higher than a year ago, the same annual rate of increase as last month.

The Job Openings and Labor Turnover Survey (JOLTS), which helps the Fed and investors round out their views of the strength of the labor market, revealed that there were 6.66 million job openings in June. This was close to the record high figure seen in April and exceeds the 6.56 million people who reported that they were looking for work that month. A high level of workers also willingly left their jobs. This is viewed as a sign of labor market strength, since people usually quit only if they believe they can find better jobs.

Week Ahead
Looking ahead, the Consumer Price Index (CPI) will come out on Friday. CPI is a widely followed monthly inflation report that looks at the price change for goods and services. The Retail Sales report will be released on August 15. Consumer spending accounts for about 70% of all economic activity in the U.S., and the retail sales data is a key indicator of growth. The Industrial Production and Capacity Utilization report, another important indicator of economic growth, will also come out on August 15.

Stephen J. Fitzpatrick
NMLSR ID # 92185
FM Lending Services
7980 Arco Corporate Drive, Ste 105
Raleigh, NC 27617
919-785-4250


Don’t Let Mortgage Misconceptions Hold You Back From Home-ownership or Real Estate Investing

The mortgage process can sometimes feel like one of the most intimidating aspects of buying a property. When we talk to clients, we find many times they are letting misconceptions about borrowing keep them out of the real estate market. We would like to share with you some recent developments you might want to consider if you’re thinking of purchasing a farm or diversifying your investment portfolio into real estate.

Mortgage interest rates are trending higher. The average 30 year fixed mortgage rate on home loans is currently around 4.5%, but is projected to reach close to 5% by the end of the year. Although 5% is higher than what we’ve seen the past few years, it is still historically low. Mortgage interest rates are influenced by yields on the 10-year Treasury, the benchmark that helps determine other interest rates. As investors move more money in the 10-year Treasury, the yield decreases and 30 year fixed rates go lower. Conversely, as money is pulled out of the bond market and put into other investments, the yield increases and 30 year fixed rates track higher. The 10-year Treasury yield is expected to gradually move higher (it briefly exceeded 3% in May which is the highest seen since 2014) so our current low rate environment is not expected to be around forever.

Higher interest rates make that home you want to buy more expensive. As mortgage rates trudge higher, the monthly payment goes up and homes become less affordable for home buyers. However, some lenders, such as Prosperity Home Mortgage, a Long & Foster subsidiary, offer programs to expedite the loan process and allow buyers to lock in lower rates for up to 90 days while they shop.

Lenders continue to innovate. Prosperity and other lenders are creating new loan products to address common challenges among buyers. For example, there’s a loan just for doctors, who may have large amounts of student loan debt, but generous incomes and a strong ability to repay. Another loan was created for borrowers who might not qualify for a traditional mortgage because of their credit score, but can demonstrate an ability to repay.

Loan approvals are getting faster and easier. Technology enables loan officers and banks to obtain fast access to records necessary to evaluate your credit worthiness. It’s possible to get approved for a loan in minutes rather than days. If it’s been a while since you applied for a mortgage, you might be surprised at how much easier it is to provide the necessary documentation.

If you are thinking about buying a home or farm, consider talking with a professional mortgage consultant about any programs available that might help you. As your trusted real estate advisors, we are connected to many industry professionals who can get you on the road to home-ownership. If you already own a home, we can also help you with the strategies and resources to diversify your investment portfolio into real estate. Please contact us any time to talk about your real estate needs. We would love to help.


UNIQUE-ONE OF A KIND TROPHY PROPERTY IN VANCE COUNTY!

Looking for the right farm with plenty of open space and water? This beautiful 56 acre property is a recreational paradise ready for your Custom Home(s) and A PERFECT FARM For a Family Compound! This Property has been groomed for years w/Outstanding Open Pasture Areas, Multiple Ponds, Rolling Terrain, and Scenic Views at Every step! Metal Structures in Place for Kennels or Workshops! Ponds now used for small Crawfish Operation but can be Easily Converted for Catfish production or Trophy Bass Ponds. There is a perfect area for 14 acre large lake!  1800 Gillburg Road in Henderson. $459,000

There is a Temporary Mobile Home in Place while you build your DREAM HOME!

Additional 23.78 acres available for $110,000, call listing agents for details!

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Your Family Farm Legacy: What to Know When The Time Comes to Make Those Hard Decisions

Farms, ranches, and rural homesteads are different from those cookie-cutter houses that line the streets of the average subdivision. Instead, these rural properties often become the home base, or the legacy, for the family through several generations. It’s where the kids grow up and where the grand-kids and nieces and nephews come to catch a catfish from the pond or take their first pony ride. As each generation grows up and moves out into the world, they enjoy coming back to the family farm to recenter and recharge their lives and to gather together with extended family and friends to celebrate holidays, family reunions, and weddings or to console each other when a family member passes on. 

Understand That Every Family Goes Through Seasons of Change

But as much as these long-loved rural properties mean to each family, there can come a time when the circumstances of life requires a major change and the owners find themselves considering selling. At Legacy Farms and Ranches of North Carolina, much of our business is based on referrals from previous clients who we have helped with this difficult decision. Many of these transactions involved a farm, ranch, or homestead that had provided shelter and comfort for generations of the owner’s family. While these transactions are never easy, we know that they are necessary for the selling family, and over the years we have learned how to help these clients move through this difficult time in a positive, proactive fashion. 

Take Time to Ask Questions and Get Answers 

Selling A Family Farm

Selling A Family Farm

The first thing we recommend for area residents who think they may want or need to sell a legacy farm is to take some time to discuss the possibility objectively with a trusted real estate professional and ask questions. A farm, ranch, or rural property that has been in the same family for generations may have challenges that must be considered, including capital gains issues, possible boundary line disputes, and title issues. By taking time to discuss the situation, property owners will be better equipped to decide how to proceed. 

Find Out What Your Property is Really Worth Before You Decide How to Proceed

Another common experience we find when talking with legacy farm owners is that they may not have any recent knowledge of local property values and any trends that may be expected for this type of real estate. While they may have heard about a nearby property sale through the grapevine, they may not have had access to actual numbers or information that can help them better determine what their property might actually be worth in the current real estate market. 

One of the many things we like to do for these farm, ranch, and homestead owners is to provide them with a professional comparative market analysis, commonly called a CMA. Essentially, a CMA is a detailed, but easy-to-read report that compares the property in question with several similar ones that are currently for sale and recently sold ones in the area. While a CMA is not an actual appraisal, we use much of the same data that an appraiser would use for our research, which allows us a great degree of accuracy.

We often find this information is eye-opening to long-time property owners, because they may have had no idea of how much their property has gained in value over the many decades they have owned it. Of course, there is absolutely no charge to property owners who request us to perform this this type of analysis. It is our pleasure.  

Learn What Your Property Needs to Make It Even More Marketable

Another valuable service we offer to these property owners is designed to help them see the true potential of their property. We know that keeping up a farm or ranch property can become more difficult at we get older, so we strive to help owners see what changes or improvements may be needed to make it even more marketable. We do this by taking time to visit with property owners who invite us to do so and walk or drive the property with them. This allows us to look at the property objectively so that we can make suggestions that could have a positive effect, should the owners decide to sell. 

Our Legacy is Helping Rural Families With One of Life’s Difficult Decisions

At Legacy Farms and Ranches of North Carolina, we don’t do high pressure tactics to try to get people to sell or buy. We know that these decisions are intensely personal and can be quite difficult to make. 

Instead, we strive to be a valuable resource for our rural landowners – a place they can come to have an honest discussion about their options, so they can make the decision that is right for them and their entire family. We are blessed to have a long (and growing!) list of happy referral clients which we are happy to share so that prospective new clients can learn more about the services we offer and how we went about the business of selling rural properties from those who know best, our satisfied clients. 

If the thought of selling your farm, ranch, or homestead is on your mind, but you are undecided or unsure of how to proceed, call Gardner at (919) 749-3177 or Frank at (919) 696-4249 and make an appointment to have a confidential conversation about your concerns. We promise to give you factual information about the current real estate market and advice specific to your situation with absolutely no pressure.

At Legacy Farms and Ranches of North Carolina, & Fonville Morisey we are here for our community and our clients, just like family. 


Inflation and Consumer Spending Strengthen; Housing Starts Fall

Inflation and Consumer Spending Strengthen; Housing Starts Fall

Overview: While there was some significant economic data released over the past week, the market impact was minor, and mortgage rates ended the week with little change.

The Fed keeps a close eye on the level of inflation, and the most recent data indicates that it has been rising in recent months. The Consumer Price Index (CPI), the most closely watched monthly inflation report, looks at the price change for finished goods and services. Core CPI, which excludes the volatile food and energy components, was 2.3% higher in June, up from an annual rate of increase of 2.2% last month. This was the highest level since January 2017.

Another recent major economic release contained good news for the economy. Consumer spending accounts for about 70% of economic activity in the U.S., and the retail sales data is a key indicator of growth. Monday’s report showed that retail sales remained strong, with a very solid increase in June of 0.5% from May. In addition, the May results were revised much higher from an increase of 0.8% to 1.3%, which makes it the largest monthly increase since September 2017.

The housing sector data released over the past week was far less encouraging. In June, housing starts declined 12% from May to the lowest level since September 2017. Single-family housing starts reached a 10-year peak in November 2017, but have lost momentum since then. Home builders cite rising labor and material costs as obstacles to faster growth.

Week Ahead
Looking ahead, the Existing Home Sales report will be released on July 23, followed by the New Home Sales report on July 25. The Durable Goods report, an important indicator of economic activity, will come out on July 26. The first reading for second-quarter gross domestic product (GDP), the broadest measure of economic growth, will be released on July 27. In addition, there will be a European Central Bank meeting on July 26, which could influence U.S. mortgage rates.


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If you are looking for a lender, give Steve a call!

Stephen J. Fitzpatrick
NMLSR ID # 92185
FM Lending Services
7980 Arco Corporate Drive, Ste 105
Raleigh, NC 27617
919-785-4250


Real Reasons to Grow Your Life and Your Future on a NC Hobby Farm

Here in NC, hobby farms are a perennial favorite among buyers.  According to the North Carolina Department of Agriculture and Consumer Services, any tract of land used for agricultural purposes that produces $1,000 or more of product is actually considered a farm.

To put this into perspective, just about any home with a few acres of land could easily produce enough garden veggies, fruit, eggs, meat animals, or other farm products to be an official farm, whether the products produced are for personal consumption or for sale. The main reason this type of farming continues to be called hobby farming is that most of those who reside on these smaller farms do so as a part-time, hobby, or sideline venture, with the main household income continuing to be earned from a more traditional, off-the-farm, type of employment.

Why are prospective real estate buyers considering hobby farms over homes in more populated areas? 

In our area of NC, hobby farms can offer families, couples, and individuals opportunities that would be difficult to find in urban or suburban areas. For example, having a few acres of pasture can make keeping a horse or two for riding much more affordable than having to pay boarding fees or rent a pasture. In addition, hobby farms offer ways to explore hobbies and pursuits that can eventually lead to a full- or part-time income stream. Some choose hobby farms in an attempt to help their families eat a more healthy, locally produced diet or to ensure a level of sustainability. Other benefits for choosing a hobby farm over an urban home include potentially lower crime rates, better air quality, less crowded school systems, and lower tax rates. 

What type of property works best for the beginning hobby farmer? 

Many Hobby Farms grow Tomatoes and other Veggies in North Carolina

When searching for NC hobby farms for sale, the soil type and quality, as well as available water sources, and the actual location of the land should always be top priority.  In addition, hobby farms that already have existing improvements can greatly reduce the amount of time – and money – required to begin producing animals or crops. Prospective buyers who want to begin their hobby farm as economically as possible will want to find one that offers some or all of the following features: 

  • a good mix of open and wooded land to ensure plentiful agricultural spaces and managed woodlands for hunting and conservation purposes
  • year-round water availability, including drilled wells, live springs, creeks, rivers, ponds, or lakes
  • barns and outbuildings, such as livestock shelters, produce processing or storage spaces, and storage for hay, feed, and equipment
  • perimeter fencing sufficient to keep livestock safely confined and away from traffic 
  • a home that is either in move-in condition or able to be easily renovated

While it is entirely possible to create a working hobby farm from the ground up, buyers who purchase one with at least some of the improvements listed above will be able to save a significant amount of money on their start-up costs, even though their initial purchase price will be higher than it would be if buying vacant land. 

Can living on a hobby farm be a positive financial move overall? 

This is a Hobby Farm Kitchen in Granville County NC

At first glance, it can appear that living on a hobby farm might be more expensive, especially when the cost for crops, livestock, and maintenance is considered. But it is important to look at the entire picture before answering this question. For instance, hobby farmers may be able to significantly reduce the amount they spend on groceries, enjoy lower real estate taxes due to land use tax breaks, and see income possibilities from produce, livestock, the lease of hunting rights, periodic timber harvesting and more. 

If you are considering becoming a NC hobby farmer, Legacy Farms and Ranches of North Carolina may already have the perfect property listing for you. Take a peek at our current NC hobby farms listings here and then call Gardner at (919) 749-3177 or Frank (919) 696-4249 for more information and a private viewing appointment. And remember, new listings are coming in each week, so we are confident we can help you explore and satisfy your NC hobby farm dreams. 

With a busy summer once again in progress, Gardner, Frank, and the entire staff would like to take a moment to remind everyone to drive safely as you get out and about to enjoy our beautiful Central North Carolina area.

Source

https://www.southernstates.com/articles/starting-a-hobby-farm.aspx

https://growingsmallfarms.ces.ncsu.edu/

http://www.ncagr.gov/SmallFarms/FAQs.htm#tax