If you have a small air variable, say 40pF, you can make a simple loop with nice nulls.
1/4 inch soft copper tubing from the hardware store, 18" diameter loop, should have an inductance of about 1.25uH. Doing the math on that, you will need about 27pF of capacitance for 27.2MHz, so a 10-40pF air variable would be perfect. Connect it to the loop ends and mount it on a PVC pipe. Add a coupling loop with a diameter of 1/5 the main loop (3.25 inches) and mount it near the main loop, but not touching it. I use the side of the loop opposite the capacitor for the coupling loop. Nulls are perpendicular to the loop plane. Connect to the HT and tune for the most noise then take 2 or 3 bearings from different locations. X marks the spot. Use the nulls to locate far away.
If you are interested in doing this, I will take a picture of the one I made when I get home from work. For added accuracy, you can transmit a test signal from a sig gen and practice locating that first.
Edit: when you get close, put a H-field probe (made from coax with a 1" loop) on the HT and start checking things for the offending noise. You basically take a piece of coax, strip the end, connect the center to the braid, then connect that shorted coax end to the shield a little further back making a 1" loop. Last step is to carefully split the shield in the middle of the loop without cutting the center conductor. It must have a split to let the magnetic field in. The shield will stop E-field signals and you will have to be right on the offending source to detect it. I trace wires through walls this way (with an oscillator driving the outlet neutral to ground - the connection between them in the panel provides a current path to produce the magnetic field needed to trace the wire), just remember the H-field loop has a null too, so the wire you are checking for noise needs to be along the loop plane, not perpendicular to it.