1. The RoundupSales of farms, ranches and country
estates are on the rise.
By Kimberly Turner Quevedo
T
he creation of a recreational lifestyle —
a place to gaze across rolling hills, past
large oak trees and onward to eques-
trian facilities, a pond or a compound
that offers favorite relaxation activities — is the key
component that attracts buyers to purchase a farm,
ranch or country estate across the nation. Although
the market for these properties can vary depending
on location, buyers are gravitating toward a trophy
property,andasinventorydrops,theyarepullingthe
trigger and purchasing.
The Telluride, Colorado, farm, ranch and country
estatemarkethasseenasignificantleapinsalesin2014,
according to George Harvey of The Harvey Team. “We
hada48-percentincreaseindollarofsales,and28-per-
cent increase in number of sales,” says Harvey. “Prices
are down a little in commodity-type ranches that pro-
ducealfalfa,corn,wheatorgrains;however,thegeneral
demand in the gentleman ranch or trophy ranch has
been very good for the last two to three years.”
Ranches here can range anywhere from 35 acres
to 2,000-plus acres. Having sold a 2,400-acre ranch
about a year ago to an international buyer, Harvey
has observed that there is a small amount of inventory
once you get above 1,000 acres. “This buyer purchased
this home because of the natural beauty of the moun-
tains and because of the stability of owning real estate
in the United States,” says Harvey. Because the global
economy has improved, Harvey predicts seeing more
international buyers in the upcoming year.
Harvey also has noticed a lot of interest from
Texas buyers. “The reason is the energy business in
Texasforthelast10yearshasbeenphenomenallygood
andcreatedalotofwealth,”saysHarvey.“Texasispretty
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Farms, Ranches & Country Estates
toasty in the summer time, so buyers come to Colorado for the cool weather and
beautiful scenery.” Due to the dropping prices in gas, Harvey is waiting to see if there
will be an increase of interest from Texas buyers this year. “We may see some buy-
ers from other industries that are doing well become our new buyers,” says Harvey.
Moving south, buyers looking for ranch properties in Texas are in search of
an escape from day-to-day life close by, and are interested in gentleman’s ranches
that are within a couple of hours from their primary residences, according to Aidan
Flores of Coldwell Banker Residential Brokerage. “These properties offer opportu-
nities for horse or prized livestock aficionados and are the perfect environment
to raise and care for their animals,” says Flores. “I believe we will continue to see
high demand for these properties as more people seek a recreational escape with
convenient proximity.”
Heading east, prices remain steadily low in Ocala, Florida, and there is a great
amountofselling,accordingtoGeorgeDeBenedictyofPegasusRealty&Associates,
Inc. “We have seen a record year,” says De Benedicty. Of those sales, a 30,000-acre
cattle farm sold for $55 million, one of the largest land sales in Florida. However,
De Benedicty saw most sales occur in the $1 million area, sometimes creeping up
into the $2 million to $4 million range.
“We are seeing a gravitation toward large tracts of land because the prices are
so low.” Buyers are interested in working farms with plenty of large oak trees, roll-
ing land and a pond. De Benedicty is optimistic that the market will continue to
be good. “You are no longer going to have foreclosed or bank-owned properties as
much this year as we had in the last three or four years, and prices will start going
up,” says De Benedicty.
Up the East Coast, Bucks County, Pennsylvania, and central New Jersey farms
and country estates have typically taken a year or two to sell, but the market has
just started to pick up this year, according to Lisa James Otto of Lisa James Otto
Country Properties. “We have been very busy this January and February, which are
usuallyourworstmonths,”saysOtto.“Ifeelthatthemarketisgoingtobeverystrong
this spring and summer.” Buyers like the convenience of the commute to New York
City (just about an hour away), and “tend to like historic houses,” says Otto. “They
like the fact that the grounds and lands are so beautiful and they love the privacy.”
Further north, buyers in Massachusetts are drawn to ranches for the lifestyle
they offer and opportunities for expansion, according to Amy Mizner of Benoit
Mizner Simon & Co. “The biggest trend is buyers are looking for a nesting estate,”
says Mizner. “Buyers want to have a gathering place for their family.” In addition,
buyers are looking at properties as investing not just in the home, but in a lifestyle
that includes recreational aspects like a barn, guesthouse or a sports court. “People
are looking for quality acreage,” says Mizner. “They are looking for usable land that
is close to major routes.” With low inventory, Mizner expects a feverish start at the
beginning of spring.
Up in Vermont, the last two years have seen an increase in country estate and
farm sales, as inventory is plentiful, particularly in properties showcasing equine
development or mountain vistas, according to Laura Beckwith of Josiah Allen Real
Estate, Inc. “The number of buyers has been increasing due to several of our local
private field and golf club memberships opening up and attracting strong young
families looking for the perfect four-season resort within three to four hours from
home,” says Beckwith.
Seeing most sales in the $1 to $2 million range, Beckwith has observed devel-
opment of the equine properties increase. “The equine interests always have been
associatedwiththeGreenMountainHorseAssociationintheSouthernWoodstock
Vermont area,” says Beckwith. “It has now stretched to the southwestern part of the
state of Vermont and has been growing slowly, but consistently, over the last few
years.”Withthegrowth,andincreasedopportunityformembershiptoprivateclubs,
Beckwith is optimistic that 2015 will see increased sales.
The Lakehurst Ranch, listed by Aidan Flores of Coldwell Banker Residential Brokerage,
is a 415-acre gentleman’s ranch 65 miles from Downtown Dallas, listed for $7.35 million.
The Roundupcontinued from page 107
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According to Amy Mizner of Benoit Mizner Simon & Co. “The biggest trend
is buyers are looking for a nesting estate. Buyers want to have a gathering
place for their family.”