Overlooking the Shrine of Humility, this is where I ran my sheep farm. Stacked up 50 or 60 sheep in the house and sheared them (fully attended - I follow the rules) three times a day: when I got up, when I got home and before bed.
Keeping a character logged in and visible attracts the heavy guard spawn in the area. This discourages the relatively few wanderers at that end of the island from griefing your sheep: they have to cast earthquake at least twice but the first one upsets the silver serpent.
Plus, there's something good and right about running a sheep farm at the shrine of the shepherd's crook.
My sheep shearing days are done for a good long time. I would pass this treasure along.
SB: deed+20k
BO: 3 deeds
Includes a forge on the stairs (mining is possible but hard due to the spawn) plus a spinning wheel and loom inside.

If you record a macro as you tame your sheep, you can paste it here to generate a shearing macro for the same set of sheep. This minimizes the nuisance from griefers since you don't have to rebuild your macro by hand.
Frenzied Ostard and rider not included.