Long story short,
This farm was listed for sale in 2009 for 1.2 million, it would have never brought that in this area, no matter the economy.
Original owner spent $750K in 2006 for farm and all buildings, he over spent in this area.
2008 he went broke (Insurance salesman and financial planner, go figure!)
After foreclosure and his death (Cancer) I bid $455K at public auction, bank bid $470K (Sept 2010)
In March 2011 I purchased it directly from the bank for $355K, (100K less than I bid 6 months earlier)
The bank never lost a dime, they probably made money! (Fed mortgage insurance, tax payer rip off).
Chance of a lifetime, I'm blessed is an understatement!