Homestead mailing list

[Gene GeRue <genegerue AT ruralize.com>]

Clint:

> We're going to Missouri this next week, spending 3-4 days in South
> Central Missouri attempting to get an idea of what we can buy, for how
> much and what the different areas look like.
> Gene, I contacted Charlie Unkie, but he has not gotten back to me,

I don't understand that. Did you call or e-mail him? Or do you mean you 
talked to him but he has not gotten back to you with potential properties?

> so
> I'll attempt to stop by and get some area information from him.
> Carol and I are pretty excited, but we have yet to get a response from
> anybody I sent queries out to.  This time of year is especially good for
> seeing property without it being obscured by vegetation.  We're not
> exactly ready to buy land yet, but if the perfect piece were to show up
> I'd like to hope we could put a down payment and get a loan.  I plan to
> stop at some of the local banks, possibly decide on one to open an
> account at, but I'm not quite sure how to start a loan approval
> process(pre-approval?).

Local banks are typically the best source of financing in that area. There 
is no need to open an account. Charlie will advise you on what financing is 
available.

>  It's a long drive from Minnesota to Missouri
> but the weather is supposed to be fair and it looks like Missouri is
> usually about 10-15 degrees warmer, just like summer.
> Any hints on how to maximize my few days there would be appreciated.

You should have appointments set with Realtors for specific days in your 
area of interest. Fewer Realtors will mean more efficient use of your time.

>   I plan to stop at some real estate places and hopefully have them send me
> to some properties, drive around some of the towns to get a feel for
> them, otherwise just bumble around on some lesser roads looking at the
> scenery and drinking Mountain Dew, lots of Dew.  We hope to see some
> land situated on a creek or river, but I've only found one advertised at
> this point.  Most of the online MLS land has been there for months, so
> either it's not selling or the site isn't being updated(more likely).

Online listings accessible by the public are only there to snare suspects, 
the same as with newspaper advertising. Agents often purposely leave 
listings online even after they have expired. I think it is outrageous and 
such agents should be punished, but I am not yet the national real estate 
emperor.

Your biggest challenge will be getting an agent to take you seriously, to 
spend lots of time getting you educated about the area, showing you 
properties, while knowing that you are not yet ready to buy. There are two 
ways to deal with this: you can lie to the agent--I'm sure you can figure 
out how I feel about that; it happens to me too often--or you can sign an 
exclusive buyer agreement, which ensures the agent that they will get paid 
someday when you buy something, so they will spend the time needed. Do not 
do the latter until you are convinced the agent and you are compatible and 
the agent is highly knowledgeable. With Charlie you will have no problem. A 
real estate purchase is a very big deal and buyers should use highly 
competent agents or expect problems, which is why I help people find good 
agents. There are a lot of bad ones out there.

Keep in touch.

Gene