We use the same traditional markets. Properties can be financed and there are ways to do it, but the thing is, you may have to come up with a higher down payment or go into higher interest rate or some kind of subprime loan. Rural lending has gotten more progressive over time, but it still involves unfamiliar twists and turns that consumers accustomed to buying in cities and suburbs might not expect. In a subdivision, for instance, appraisers value homes by comparing their sales prices to the prices other units within several blocks have fetched recently. But rural homes can be miles apart and come with vastly different amounts of land.
Many rural families live in the same homes for generations, too.
So, there may not be recent sales figures to use. We doubt it. When hobbies go fowl Lenders can get nervous about land use, too. Many borrowers enjoy country living because they have enough space to try their hands at raising a few chickens or growing vegetables for sale at a neighborhood market. Mortgage companies sometimes have to treat such properties as mixed-use rather than purely residential.