TN vs VA (Rogersville: second mortgage, how much, new home)

[tndreamer]

We have looked for three years in TN. Found "the" perfect place and made an offer but it wasn't even countered. Left us nowhere. We're in sw FL and hate the heat, so want to be there. We love the Rogersville area (20 or so mi around) but can't find what we're looking for at a price we can afford. We just got a listing from a Realtor in Gate City, VA. Anyone know anything about this area? It's still close to TN, although farther than we'd hoped from "our" area but the prices are so much better we may have to settle. Any help in area knowledge?

[mbmouse]

Hello,
I moved your post the the general TN forum instead of having it hiding in a Nashville thread as I think you will get better answerers here. Hope you don't mind.
As for Gate City, I would not recommend it. One you will have state employment tax and two higher property tax. It is also not much of a city, kinda run down. Total curiosity here, how much below asking price did you offer on the property?
Tell us what you are looking for in a new home town and what price range you are in, whether you need jobs and schools and what have you. That way you can get better answers.

[tndreamer]

Thanks, mbmouse. The property was 29 acres, much of which could be used, and a smallish cabin. Asking price $190,000. The house had no central heat/air and needed lots of work but we loved the area. We offered $150,000 as that's the limit we felt we could afford without worry. We'd like a minimum of 10 acres and a year round stream/creek, etc.---ya know what I mean? A house is fine or none is fine. We need power available without taking a second mortgage. We are mid 60s and a grandchild we've raised who is 17. We won't actually move until next year but would like time to "fix" property before we get there. We really need unrestricted because we will camp in our 5th wheel until we have a house/cabin built. We hoped to find land for less than $70,000 but the only things we've found (through our Realtor who is great)in that price range seems to be the side of a mountain. Prices are for the acres although most of the time we couldn't use more than 3-5 of them. Thanks again for the heads up on Gate City.

[mbmouse]

Check your DM. I sent you a link that might be useful. I couldn't post it as it is a link that is not allowed to be posted here. But it might point you in the right direction. I don't mean to sound rude, just offering opinions. Mostly (with some exceptions of course) what properties are listed for is pretty close to what they are really worth and usually don't sell much below asking price, a few thousand sure, but 40K? Things are just not THAT over priced here. I think you can find close to what you are looking for in that price range, you might have to settle for an acer or two less, but I think you can find it. Hope this helps and good luck, keep us informed on how it goes.