Page 6 – Land & Ranches for Sale in Western & Southeastern United States

There was much discussion and hype about the real estate market and economy in general in 2022. Despite a market that showed signs of changing conditions, 2022 was still a strong and successful year in ranch sales. At Live Water Properties, we saw our second-highest year in sales volume at $377M. This was higher than the pandemic-driven market that began in 2020 and fell only behind 2021’s record-setting year.

As we look forward to 2023, the real estate market appears to be normalizing. However, while the news and media report on the residential market, the ranch market must be looked at separately. Ranches are unique and often tightly held assets that cannot be recreated. Additionally, nearly 90% of ranch transactions are purchased in cash. How did these factors affect 2022, and what do we expect to see in 2023? We spoke with our team of Ranch Real Estate Brokers to take a closer look at the 2022 Ranch Market and get their predictions and advice for Ranch Buyers and Sellers in 2023.

What were the driving factors in the ranch real estate market in 2022?
Both 2020 and 2021 were unprecedented ranch real estate markets. How did 2022 differ?
There is a great deal of news about the residential market, but how do you see the ranch market differing from it, and how does this affect your Buyers and Sellers?
What role did off-market ranch transactions play in 2022?
What economic, political, and lifestyle factors played into Ranch Buyers and Sellers’ motivations?
What advice would you give to Ranch Buyers in 2023?
What advice would you give to Ranch Sellers in 2023?

What were the driving factors in the ranch real estate market for Buyers and Sellers in 2022?

“While the latter half of 2020 and all of 2021 were characterized by record-breaking land sales numbers in Montana, the ranch, farm, and rural land market in 2022 revealed changing conditions,” says Montana Ranch Broker Jeff Shouse. “Buyer interest and demand remained high throughout the year. However, transaction volume was lower than in previous years due, in a large part, to an unprecedented lack of inventory. Much of the availability issue was a result of high-volume sales the previous two years, as well as many landowners seemingly reluctant to sell due to the limited amount of potential replacement properties coming onto the market.

“According to statistics from Montana appraiser Andy Rahn at Montana Land Source, numbers through the third quarter of 2022 showed total statewide market inventory of acreages 200 acres and larger, down over 30% from 2021 and over 80% from 2020,” continues Jeff Shouse. “Additionally, the number of new land listings being brought to market was down 100% from the previous year. On average, Montana ranch and land market inventory for the calendar year 2022 was down approximately 50% from historic levels.”

“2022 saw a diverse set of motivating factors for buyers. Buyers remained urgent to obtain quality recreational ranches while land investors looked to deploy capital, often in the form of 1031 exchanges. Land was once again viewed as a favorable inflationary hedge,” says Matt MacMillan, Live Water Ranch Broker licensed in Wyoming, Montana, Idaho, and Utah. “Many sellers saw 2022 as a last opportunity to capture top-of-market prices, so elected to liquidate while inventory remained in short supply.”

“Sellers’ motivations largely focused on effecting a sale during the advantageous market cycle in an effort to get ahead of looming unknowns in the equity markets while competing inventory was limited in most markets,” adds Brian Hartley, Live Water Ranch Broker licensed in Colorado and Wyoming. “Buyers were eager to find those special places that offered the features that always seem top of mind – location, privacy, public land adjacency, sporting resources on site.”

“Sellers I worked with in 2022 were motivated by Buyer activity, and high land values realized during the previous two years during the Covid boom. Overall, sellers that came to market during the 2022 season could substantiate higher listing prices based on comparable regional sales and a lack of quality inventory,” notes Live Water Ranch Broker Tate Jarry, licensed in Idaho, Wyoming, and Montana. “During the second quarter of the year, with the increase in interest rates, the dip in confidence in the investment markets, and the pressure of inflation, we realized a decrease in buyer activity. There were many price adjustments, less buyer demand, and less urgency for property in the rural areas we serve.”

Live Water Properties Texas Ranch Broker Mark Harman adds, “I would say that recreational ownership continues to be the motivating factor for most buyers even as the market has slowed from the break-neck pace of 2020 and 2021. Many sellers realize that they missed the golden window opportunity to sell into the frenzy as 2022 unfolded. Sellers will continue to experience ‘real estate occasions’ triggering the urge to sell i.e., death, relocation, estate planning, and life changes.”

“For the most part, Wyoming ranch Buyers were seeking destinations that offered less government control, restrictions, and regulations that affected their business and lifestyle. Many plainly said they had made the decision to leave their current residence due to factors that included increased crime, increasing taxes, more regulation, poor education systems,” says Wyoming Ranch Broker Toby Griffith. “In regard to Sellers, all were taking advantage of the market, downsizing or exchanging into other properties.”

Both 2020 and 2021 were unprecedented markets. How did 2022 differ from the past two years?

“The pace of sales we saw in 2021 was a convergence of several factors which we may never see again in our lifetime, namely a global pandemic that made buyers re-think their choices on where they would like to spend their time. Our mountain communities and rural valleys became the focus of this new buyer set, seeking an improved quality of life,” says Matt MacMillan. “This trend continued in 2022; the shortage of inventory may have slowed sales toward the end of the year, but buyer demand remained robust.”

“Colorado generally followed the trend of other western states into 2022; inventory levels continued to wane while buyer activity remained high. Buyer motivations varied from client to client, but the general tone remained a commitment to enjoying time outdoors in areas they love and connecting with family and the land,” notes Hartley. “There was also more commentary from buyer clients about diversification of their portfolios to hedge against the uncertainties of the equity markets while simply enjoying the properties.”

“In 2022, we saw a slight shift from a Seller’s to a Buyer’s market. We are seeing the average Days on Market increase, price adjustments and reductions becoming more common, and more Buyers entering the market with an air of caution and less urgency,” adds Tate Jarry.

Inventory was the main change Toby Griffith saw, noting, “There was no real difference [in the markets] until the latter part of the year when quality inventory became virtually non-existent and buying activity slowed. We continue to have a huge demand but no supply.”

There is a great deal of news about the residential market. How does the ranch market differ, and how does this affect ranch buyers and sellers?

“Though the national news of the softening house markets is well understood by our clients, most of the properties we deal with are much different, and to a degree, removed from the ebbs and flows of the residential markets and the direct impacts of varying interest rates. That’s not to say there is not some correlation, if only mentally. Buyers are leery of purchasing at the perceived top of the market cycle, and Sellers don’t want to be the last ones standing in their markets trying to achieve price points that are no longer realistic,” says Brian Hartley. “These nuances are what keep this industry so fascinating – we as brokers study the trends, compare notes on our respective areas and advise our clients accordingly based on all of the data points we track.”

“The ranch market is not nearly as sensitive to the interest rate environment as is the residential market. Most of our buyers tend to use cash and often become more motivated to add to their land holdings when recessionary headlines are top of mind,” says Matt MacMillan.

Tate Jarry adds, “Historically, the properties we sell are discretionary purchases with nearly 90% cash transactions.”

“Ranch ownership is not a necessity for most. Home ownership is a necessity. Land buyers that I have engaged with over the past several days, weeks and months appear slower to commit to recreational land ownership,” notes Mark Harman.

“Our buyers are typically cash buyers with the exception of some agricultural buyers where some heavily rely on borrowing money,” say Toby Griffith. “With increasing rates, this may create a slowdown in agricultural properties unless those properties are priced aggressively to sell.”

What role did off-market transactions play in your state?

“Off-market transactions continue to play a significant role in Colorado; the largest transaction our company was involved with in 2022 was an off-market transaction in Northwest Colorado. We had been tracking the property in prior years when it had been on the market. When representing a buyer client whose search parameters matched well for it, we were able to affect a sale for the seller and our buyer client quietly and relatively quickly,” says Brian Hartley. “We work hard to build trust with landowners and educate them on market conditions incrementally over the years; in some cases, they prefer not to formally list their ranch asset but are open to an off-market transaction as they know the buyer clients we work with are qualified and can move quickly to perform.”

“Off-market transactions always play an important role in the Western ranch market. When inventory is short, as was the case in 2022, off-market deals became even more prevalent as buyers sought out properties and often made offers on properties that were not actively for sale,” adds MacMillan.

“In the first quarter of 2022, there was still a relatively healthy inventory of quality ranch properties listed and on the market that we were able to capitalize on, matching our buyer clientele needs. As the year progressed, quality inventory steadily decreased, forcing brokers to direct their efforts to find off-market inventory to meet Buyer demand,” says Tate Jarry. “There remains seller apprehension to market their properties despite the higher-than-average market values due to tax implications, difficulty finding replacement properties, and investment market uncertainties. I believe off-market transactions will play a large role in 2023 as our niche market begins to ‘normalize.’”

“In light of recent limited inventory, I believe there were considerably more off-market transactions done in the last six months than what we realize; however, this is something that has always been going on and will continue to be part of the real estate game,” notes Toby Griffith. “I think when inventory begins to get back to a stable amount, off-market deals will decrease, or at least the opportunities for off-market deals will decrease. It’s a great time right now to sniff out all leads and possibilities.”

What economic, political, and lifestyle factors played into Ranch Buyers and Sellers’ motivations?

“Lifestyle and quality of life were at the forefront of buyers’ minds in 2022, and I anticipate this trend will continue for years to come. As technology continues to advance, allowing even more flexibility to work remotely, our western mountain communities will see more and more demand based the healthy active lifestyle that many now seek,” says Matt MacMillan.

“A solid majority of the Buyers and Sellers I work with in the ranch real estate market are motivated primarily by the ‘lifestyle factor’ associated with rural mountain living. We all see ourselves as conservationists and stewards of the lands that surround the beautiful areas we call home,” adds Tate Jarry.

Media has also played a role in creating this lure. As Craig Janssen notes, many Buyers are quick to mention the hit television series Yellowstone, when beginning a ranch search.

“The motivation for Buyers to be in Colorado remains almost universally lifestyle-driven,” says Brian Hartley. “Ease of access from nearly all urban centers around the country makes it a desirable place to be in all seasons, be that escaping heat and humidity elsewhere in the summer, enjoying seemingly endless acres of aspens glowing in all shades of yellow and gold in the autumn as big game hunting season takes center stage, or, of course, enjoying the myriad of skiing options around the state.”

“It is my opinion that the biggest impact on the Wyoming ranch and recreational ranch market was politically driven. Perhaps COVID started consideration and conversations but the realization of increased government involvement in people’s lives started the mass migration,” adds Toby Griffith.

Oregon Ranch Broker Sam Houser notes that conversely, “Oregon Buyers looked to take advantage of the short-term gain of catching a steelhead or hunting a trophy elk for a lower price per acre versus a long-term tax shelter state with higher upfront purchase costs.”

“A good portion of the Buyer activity in 2022 was focused on higher-quality, amenity-rich properties, which generally went under contract quickly. However, these properties were typically priced at a premium. Buyers as a whole were more measured and selective in 2022 than had been the case in the previous two years, illustrated by good property showing activity but fewer offers tendered. This tendency contributed to an increasing amount of price reductions as the year progressed – something that was rarely seen during the 18 months prior,” says Jeff Shouse. “Another trend that continued from 2021 was a notable number of off-market transactions on properties that were never publicly offered.”

What advice would you give to buyers in 2023?

“Buyers in 2023 should have more opportunities than they have seen the past two years. That said, the quality inventory, which is priced appropriately, will still sell, and potentially very quickly. So, if you find something you like, buy it and begin to enjoy it!” says Matt MacMillan.

Both Texas Ranch Broker Mark Harman and Montana Ranch Broker Craig Janssen offer the same piece of advice: patience. “There will be good-to-great buying opportunities in the next year or two, be patient but be ready to move quickly if the right thing comes along,” adds Janssen. Toby Griffith echoes this as well, “Be patient but be prepared to immediately jump on any property that meets your requirements.”

“The recent real estate boom has also seen an increase of new real estate sales agents entering the market. With the persistent lack of quality inventory, a Buyer needs to be ready to move quickly when they find the property that fits their needs,” says Tate Jarry. “To maximize your time and efforts searching for your western investment property, consider working with a veteran in the niche market you are interested in.”

“If they have not already done so, any active Buyers should begin the process of vetting and selecting an experienced and trustworthy broker to represent their interests. That broker will be your eyes and ears in the area, or areas, that match well for your search,” notes Brian Hartley. “Be prepared to move quickly when something that fits for your search parameters and budget hits the market or is identified by your broker off-market. With inventory as tight as it is, options remain limited both for you and the field of competing Buyers who are actively looking – likely with similar criteria.”

“Look out for properties that were purchased by Buyers caught up in the momentum of the market over the last couple of years. They may have a property that no longer suits their wants or needs,” adds Sam Houser.

What advice would you give to Ranch Sellers in 2023?

“Don’t chase the market. Spend time during the planning process to form a solid marketing strategy based on realistic price points backed by recent sales that local appraisers and broker analysis can substantiate. This will allow you to capture those Buyers still lingering in the marketplace who are willing to move fast if pricing is in line with market trends,” says Tate Jarry.

“Pricing will be more important for Sellers in 2023 than in the past two years. If it is the right time in your life to sell your ranch, don’t hold off waiting for potentially ‘better prices,’” adds Matt MacMillan. “All markets are tough to time, and the ranch market is no different. Currently, there are still ample buyers in our valleys looking to purchase quality land assets.”

Mark Harman and Craig Janssen also echoed each other’s sentiments, “Manage your real estate value expectations! When in doubt, hire a certified appraiser,” says Harman. “Price property correctly from the start of the listing,” added Janssen.

“If pricing is higher than justification based on comparable sales, a Seller should plan on and expect little to no activity for a couple of years. Unless the property is desirably unique, average properties no longer demand top prices like they did the previous two years,” says Toby Griffith. “However, if the seller understands the market has softened, but there remains a good pool of buyers, they still have the opportunity to sell their property if it’s reasonably priced.”

“Despite what the perception of the current market may be, there remains plenty of capable Buyers looking for that next special place who may have missed out on other opportunities in recent years and will also be prepared to move expeditiously to jump on a new opportunity,” says Brian Hartley.

“Despite increasing interest rates, current inflation levels, and recession discussions, I believe the Montana ranch market in 2023 will be robust. Potential sellers should recognize that many interested cash buyers are watching the market, waiting for the right offering to present itself. Good quality properties that are priced right are in high demand at present and will sell this year. The probability of low inventory again this year is high, in my opinion. Accordingly, active buyers need to be diligent in staying on top of current and new market offerings. They will need to be prepared to move quickly when the right opportunity presents itself. Along these lines, one option that a prospective buyer may wish to explore is enlisting the assistance of a qualified and skilled ranch broker via a buyer brokerage arrangement, which may lead to exposure of properties that are not advertised on the open market but may be available for purchase,” concludes Jeff Shouse.

If you would like to learn more about Buying or Selling Ranches with Live Water Properties, please reach out to one of our trusted Ranch Brokers in your state here, or you can email info@livewaterproperties.com. We will connect you to a Broker who can discuss Buyer needs or offer a comparative market analysis for your ranch.

Ranches and farms are some of the most worthwhile and secure investments you can make. Not only do you get to live in a luxurious and spacious property incomparable to what many investors have ever had before, but you get to live a more natural rhythm of life, reconnect to the land and fully pursue interests such as fishing and hunting or raising livestock and producing goods. Add to this the possible returns in investment that can be gained by ranches and farms and it’s easy to see why so many are turning to these types of property for their next investment.

However, how do you get started with ranch investments? What are the benefits that come with investing in ranches and farms? And what are the risks involved in this enterprise?

Continue reading as we lay down everything you need to know and consider regarding ranch investments, especially in places like Wyoming, Montana, Colorado, and Texas.

What are the main types of ranch investments?

Cattle Ranches – One of the most common forms of ranch investments, ranching typically involves raising livestock such as cattle, horses, and sheep on expansive tracts of farmland. Aside from common livestock, animals like American bison, alpaca, and elk — as well as exotic birds like ostriches and emu — may also be raised.

At present, most of the working ranches in the United States are typically used in the production of meat, milk, wool, and other animal products. Some ranches in the country, however, have branched out to agrotourism and also offer attractions such as cattle drives, horseback rides, and guided hunting.

Ranching is especially popular in Texas, which is home to about 248,000 farms and ranches, all of which have a combined area of 127 million acres.

Farms – According to the Department of Agriculture, there are about 2.1 million farms spread throughout the U.S., the majority of which are family-operated. Farms in the U.S. typically have an area of about 435 acres, although there are some whose total area exceeds 2,000 acres.

Most farms in the U.S. grow grains such as corn, wheat, barley, and oats, while some grow crops like soybeans, as well as vegetables, fruits, and various other types of produce. Because of the demand for their products, farms are incredibly lucrative ventures, with crop cash receipts from US farms totaling $198.8 billion in 2020.

Fly Fishing and Hunting Properties – Ranch investments also cover properties and attractions that offer fly fishing, hunting, and similar activities to visitors. Fishing and hunting properties are particularly appealing to those who love the great outdoors and the sporting lifestyle, and— much like farms and ranches — come in a wide range of sizes, amenities, and features. For instance, some properties span thousands of acres and include exclusive, luxury lodgings, while some offer a more rugged and rustic experience for buyers.

Roughly 18% of the entire U.S. population, that’s 54.7 million Americans, went on fishing trips in 2020. Hunting is also very popular with 15 million Americans participating in hunting trips in 2020. This can be turned to your advantage. Not only will you enjoy your own hunting and fishing ranch, you can open your property to visitors and generate income. Having recreational activities on your ranch enhances the lifestyle you lead and adds value to your agricultural property.

If you are planning to invest in these types of properties, Montana, Colorado, and Wyoming have some of the best land for fly fishing and hunting in the U.S.

Conservation Ranches – For the most part, conservation quality ranches function just like standard working ranches and farms. These properties, however, employ conservation strategies and sustainable farming practices, both of which help preserve and enhance the land and its resources, promote healthy biodiversity, and help carry on their legacy for future generations.

Entering into a voluntary legal agreement such as conservation easements and land trusts safeguard the ranch’s character and natural resources. However, a much more immediate benefit for the owner is that they can realize tax and or cash benefits, sometimes both. Furthermore, partnership with a local trust gives a new landowner access to expert knowledge and the tools needed to manage the property in a wildlife-friendly and resource efficient manner.

Other types of ranch investments include the following:

What makes ranches and farmland great investments?

Ranches and farmland are great investments, not only because of the positive combined returns that they deliver to investors but because of how effective they are at hedging inflation compared to other forms of investments like gold and stocks.

Ranches and farms have the ability to provide extra income, which means that investors remain well-protected — even in times when the prices of goods rise and the purchasing power of the dollar decreases. Not only that, but the world’s supply of arable land is decreasing at a steady rate, driving up both the demand for ranch investments and their value.

They are less volatile investments when compared to other major assets, making them especially valuable to those who wish to diversify their portfolios.

Another major plus is that ranches and farmland – depending on which state they’re located in – come with tax breaks and benefits that investors can take advantage of to maximize their earnings.

For instance, Montana allows deductions of up to $50,000 on capital gains – provided that the property covers more than 80 acres, and the sale is done via a long-term, state-approved contract. Colorado, on the other hand, exempts several agriculture-related items from taxes, including farm and livestock equipment, electricity and fuel costs, and proceeds from farm close-out sales.

Wyoming does not tax properties such as farms and ranches based on their market value, but rather, on the agricultural products that they produce. The value of these products are then calculated at a fractional rate of 9.5% — resulting in massive savings for qualified investors. Texas employs a similar tax scheme for agricultural properties, with ranches and farms taxed based on what they can produce rather than their land’s market value. Not only that, but Texas also exempts farm owners and investors from paying state and local sales taxes on most of the items they buy and use for their properties.

What are the past trends and future prospects of ranch investments?

The demand for ranch investments exceeded expectations in 2021, with sales of multi-million dollar ranching properties reaching record-setting numbers.

Real estate professionals place the increase in the sales of ranch investments and other agricultural properties in places like Montana, Colorado, Wyoming, and Texas in 2021 on several important factors. These include the migration of buyers from cities to rural areas, a shift in the U.S. political environment, and stronger overall economic conditions.

As noted by several real estate agents, a significant chunk of the sales made in 2021 were off-market transactions — a scenario largely driven by a combination of limited inventories and buyers wanting to find properties that match their specific wants, needs, and investment goals.

This uptick in the demand for ranch investments and similar agricultural properties is likely to continue in 2022. Interested buyers, however, might find it difficult to get ahold of agricultural properties, especially since land inventory in several states is currently at an all-time low, resulting in a highly competitive real estate market.

Buyers may also see stiff competition from foreign investors, whose interest can often drive up property values to unprecedented heights.

The good news, however, is that current ranch investors are still likely to see healthy returns from their properties this year, with the net farm income for 2022 projected to be at $113.7 billion – only a slight dip from the $119.1 billion recorded in 2021.

What are the nuts and bolts of acquiring ranches?

Acquiring ranches and large land properties can be a complicated affair. Because of this, it is important that you follow certain guidelines, including the following:

Find a realtor who specializes in ranch investments – One of the smartest things to do is find a real estate professional who specializes in farmland and ranches. Getting the right support at the beginning can save you time and effort, open your options and guide you to the ideal property for you.They must be experts regarding the type of property you want to develop, or at least have a working knowledge of the activities you want to pursue, such as angling, hunting, or farming.
Ideally, you want to work with agricultural real estate professionals who are not only about buying and selling residential real estate. Live Water Properties is made up of people who know the land and live the agricultural, outdoor and hunting life, we live what we sell. Being able to provide the support and know how on how to set and run your ranch or farm has earned us glowing testimonials from clients. We want them to enjoy their new properties and we’re more than happy to help in any way we can.
Decide on the kind of ranch investment you desire – One of the first things you need to do before investing in a ranch or similar property is to zone in on what it will be used for, as well as how it fits with your current lifestyle and investment goals. For instance, if you’re just looking for a place that can function as a private retreat for your family, a small to mid-sized ranch might be more in line with your needs, rather than an expansive estate that may be more suited to investors looking who are interested in activities such as hunting or agriculture.
Experts in the field – Once you have decided on the type of property you want, the next step is to find the right realtor for your particular type of ranch or farm.For example, if you want to get a fishing property, you’ll need a ranch broker who at the very least knows where there are great fishing waterways and what type of fish are predominant in those waterways. It should then also follow that they’ll know the rules and regulations in these particular areas. Likewise, if you are looking to invest in a hunting property, you’ll want a ranch broker that can get you up to speed with hunting regulations that may be in place in that area.
Aside from that, ranch brokers can provide you with nuanced information on factors that affect how you utilize your property, such as its location and accessibility, privacy, fencing, and improvements, as well as leases and conservation easements.
Find a lender that specializes in ranch investments – If you will be financing your purchase, the next step is to look for reputable lenders who specialize in ranches and similar investments. This option is particularly helpful for those who may be planning to start dude or guest ranches, or luxury fishing and hunting establishments.If you are looking to start a standard cattle ranch or farm, another option is to approach the USDA’s Farm Service Agency, which offers Farm Ownership Loans to qualified individuals.

Ranch investment properties

When searching for ranch investments and similar real estate properties, it is important to choose the ones that best match your needs and overall investment goals.

To give a taste of what could be yours here are some properties to consider:

Ross Plateau

Available for purchase for the first time in four generations, this Bridger-Teton inholding sits 15 minutes from the Jackson Hole town square at the end of a private road. With its elevated location, the property enjoys stunning views of the Teton, Gros Ventre and Wyoming Ranges. Consisting of timber-framed lush mountain meadows, the 159 acres are divided into four parcels that capture the stunning views and have backdoor access to Munger Mountain and the southern Teton Range.

Priced at $25 million and composed mostly of timber-lined mountain meadows, Ross Plateau is not under any deed restrictions or conservation easements. As such, the property lends itself to a variety of uses and can be converted into family hunting ranches.

Ross Plateau is surrounded by the Bridger-Teton National Forest, home to an impressive variety of local fauna, including elk, deer, moose, and bald eagles.

Golden Eagle Ranch

Situated on the banks of the South Platte River in Colorado, Golden Eagle Ranch covers 2,074 acres and has extensive water resources, making it the perfect property for those who want to hunt waterfowl.

In operation for the last thirty years, Golden Eagle Ranch is noted for its healthy populations of waterfowl such as ducks and geese, as well as strong populations of birds such as turkeys, pheasant, and quail. There’s also prime deer hunting, with the owners having chosen not to extensively harvest but keep numbers of deer high by practicing archery hunting exclusively.

Now selling for $17.6 million, this property includes features, such as a six-bedroom and five-bathroom hunting lodge, and an additional storage garage complete with top-quality commercial-grade game processing facilities and kennels.

The Ranch at Aspen Ridge – A luxurious retreat in every sense, The Ranch at Aspen Ridge is located in Oregon’s South Central area and is nestled between the towns of Klamath Falls and Lakeview.

Spanning a total of 3,598 deeded acres, The Ranch at Aspen Ridge has a multitude of luxurious features, including a 7,000 square foot log lodge with a commercial kitchen, as well as five, 1,250 square foot cabins. The property is currently being sold for $10 million.

An off-grid property, The Ranch at Aspen Ridge primarily depends on hydropower for its electricity and has a propane generator as a backup for emergencies.

Aside from its scenic views, The Ranch at Aspen Ridge is also home to healthy populations of elk, deer, trout, and other fauna, making it the perfect investment for hunters and sport fishers alike.

Aspen Ridge offers complete privacy for investors.

Invest in your own ranch or sporting property

If you are planning to invest in ranches, farmlands, and other similar properties, don’t hesitate to give Live Water Properties a call.

A real estate brokerage company, Live Water Properties specializes in investment-quality ranch properties in locations such as Wyoming, Montana, Colorado, Idaho, Nebraska, New Mexico, Utah, and Texas, as well as large land properties in Georgia, South Carolina, and Florida.

Founded in 2001 our brokerage primarily focuses on agricultural and cattle ranches, farms, plantations, fly fishing ranches, bird and big game hunting ranches, and timber farms, as well as other properties like guest ranches.

Live Water Properties has over two decades of experience in the industry, and The Land Report has recognized the company as being one of the top ranch brokerage firms in the world ten years in a row. Live Water Properties is widely known for providing expert-level advice and seamless service to our valued clients, in order to help them make sound decisions when it comes to land and ranch ownership.

Aside from helping buyers find ranches and properties that match their goals and lifestyles, we also assist landowners with their daily operation, as well as their capital improvement projects. Our firm provides consulting services regarding land and ranch market valuation, fisheries and wildlife habitat enhancement and management, and conservation easements.

If you want expert guidance regarding ranch investments and other recreational properties, call Live Water Properties at [ai_phone href=”+1.833.982.1964″]833.982.1964[/ai_phone]. You can also send us a message here to set an appointment with our expert team of real estate professionals.

For the second consecutive year, Jackson Hole real estate broker Latham Jenkins has been named Live Water Properties’ 2022 Top Producing Broker. Jenkins represented $98M in real estate sales volume to earn this title among the national brokerage’s 24-person firm. Jenkins leads Live Water Properties’ luxury Jackson Hole residential real estate division, Live Water Jackson Hole.

Having been named Real Trend’s “Number one individual realtor in residential sales in Wyoming,” Jenkins continued his sales success in 2022, despite a slowing market. “While Teton County transactional volumes declined in 2022, we were able to post another $100M year specifically in Jackson Hole sales,” says Alex Maher, President/Founding Partner at Live Water Properties. “Latham Jenkins executed well in all facets of the business, completing two of the largest dollar estate deals in the same year. Hat’s off for superior results again!”

“I have never seen Latham turn down an opportunity to spend time with his clients, showing them Jackson Hole or our surrounding wild destinations,” adds M acye Maher, Founding Partner/CFO at Live Water Properties. “He’s a pro at lifestyle insights. Clients tend to befriend him right back! Never mind, Latham already has two listings under contract for his sellers this first quarter of ’23.”

Drawing from his background as a local entrepreneur and marketer, Latham has distinguished himself as a leading Jackson Hole luxury real estate broker due to his tireless dedication to the ultimate client experience. His knowledge of the Jackson Hole real estate market, current sales data, and trends, as well as his negotiation skills, serves each of his clients in reaching successful deals. “Latham’s second Top Producer award in successive years is again a testimony to his consistent effort to meet and exceed client expectations,” says John Merritt, Vice President at Live Water Properties. “Latham is a master at delivering the experience of owning the property on every tour, which produces a certainty when it comes to buyer and seller decision-making.”

Jenkins’s year was highlighted by notable sales, including the Jackson Hole Ranch. With a last asking price of $35M, the Jackson Hole Ranch was the most expensive real estate transaction on the MLS in Teton County in 2023. “I feel most grateful for the clients who have chosen to work with me. It is a privilege to represent them, and I work towards their goals with great fidelity,” says Latham Jenkins.

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Live Water Properties is a ranch brokerage company specializing in premier fly fishing, hunting, ranching, recreational and conservation land. With $3 Billion in closed deals, they are uniquely qualified to assist in all aspects of ranch ownership. Since their inception in 2001, Live Water Properties has grown into a 24 person, 12-state land brokerage firm. They are represented throughout the United States with Brokers in Wyoming, Idaho, Colorado, Nebraska, Montana, Nevada, Utah, New Mexico, Oregon, Georgia, South Carolina, and Texas. The team at Live Water Properties is distinctly qualified to connect clients with their dream properties.

Live Water Jackson Hole: There are many reasons to consider a home in Jackson Hole – from the stunning location to the laid-back lifestyle to the financial benefits of living in an income-tax-free state. Live Water Jackson Hole offers expertise in all three areas – real estate services, financial guidance, and local lifestyle insight – knowing you’re searching for more than a home. www.livewaterjacksonhole.com

First-Hand Account

For 22 years, I have been purchasing lands along the North Platte River in Western Nebraska and developing them for hunting. I’ve also consulted with others to improve their lands in four additional states. My wife Cheri and I own and operate hunting clubs, both proprietary and annual membership, of which we have designed and created habitat, lodges, blinds, and every tiny detail that produces exceptional hunting experiences.

When I joined Live Water Properties in November of 2021, I teamed up with Brian Hartley for an in-depth analysis and presentation of Colorado’s spectacular Golden Eagle Ranch. Since that time, I have immersed myself in the study of the ranch.

When I look at a property, it’s most often about determining its potential. Where is it located? What does it offer currently? What ingredients does it possess, whether realized or not? What would be its ultimate identity due to inherent strengths? What are its drawbacks? And what can be changed, what can’t? In the end, can improvements be made? And/or do they need to be?

The Big Four

In addition to its incredible size, the Golden Eagle Ranch has all the right building blocks. The Golden Eagle Ranch probably has more than one would usually hope for and certainly more than one usually gets. Portions of it consist of a working farm, yes… but the real beauty is that most of its acreage has the designated purpose of attracting and holding wildlife… particularly desirable game species! In fact, ‘sanctuary to food,’ it will annually host a variety of seven hunting pursuits, four of which are on a world-class level! And to the young or energetic, or simply those crazy enough to tackle hunting snow geese, it can change from seven to eight by adding them too. This outstanding “mixed-bag phenomenon” is a product of several ingredients combined:

Ideal location within a historic wintering area of the Central Flyway,
Exceptional control by way of extraordinary size,
Water rights that are insanely difficult to acquire in the West, which are furthermore permitted to be used for both agricultural crop production as well as flooded wildlife habitat… providing invaluable food components,
And the dedication of owners, who’ve loved and nurtured the land, as well as haven’t inadvertently done it harm through poor decision-making. The river bottom could be termed “pristine.”

The results are the consistent enjoyment gained through the unparalleled hunting of the “Big Four” – mallard ducks, Canada geese, whitetail deer, and Merriam’s turkey. Plus, almost as a bonus, the Golden Eagle provides excellent hunting for ringneck pheasants, bobwhite quail (20 wild coveys estimated), and mule deer large enough to get your attention from a long distance. No, it might not be South Dakota for pheasants, or Georgia for quail, or Sonora, Mexico for mule deer, but having huntable representations of all of them on one property, in addition to four species that are as “crazy good,” it’s unbelievable. And make no mistake, the “bonus” species are not just seen occasionally; they are all strong enough to take seriously!

Numbers (of Birds)

Those hunters who are seasoned in duck and goose hunting know that waterfowling is a volume sport. Not in the way shooting doves in Argentina is. It’s not about how many are allowed to be shot. Rather it’s that it takes numbers to supply consistency in hunting ducks or geese. And I don’t mean 25, not 50, and not 100. Not even 1,000 birds really tip the scale. In any one vicinity, the need is thousands… meaning plural, and tens of thousands if one can get it!

duck and goose huntin

And though impressive numbers weren’t evidenced on the first visit the listing brokers took to the ranch in the early season, they certainly were upon their returns. I wasn’t hunting it, but I did sneak up to one of the Moist-Soil Food Fields for a look. These units of tremendous habitat are a result of a Ducks Unlimited project, built with the Golden Eagle as partners -three in all completed, one underway. They are basically nothing more than flooded food for the unbridled gluttony of dabbling ducks. And this was freshly flooded only days before. Consequently, when I came up over the perimeter berm and peered through the tall grass, it absolutely erupted! I estimated 3,000 ducks, mostly mallards with some pintail scattered throughout, and even a group of tiny Richardson’s Canada geese, too… “squeakers” as they are.

Proof- the Five Hunts!

I couldn’t wait to start compiling material to present what was more and more evidenced to be a fantastic property! But I found it wasn’t going to be easy to convey, learning that after hunting it for nearly 35 years, the owners have not done much to document their successes… nearly zero photographs. They suggested that I set up hunts and see what I could get done… pictures hopeful. Reluctantly, and with an arm severely twisted, I gave in.

Hunters in Pit Blind

The next time I was on the Golden Eagle, it was 5:00 in the morning, pitch black, zero degrees, with a group of young soldiers on the hunt. All of us worked at putting out a spread of decoys in the unbelievably unfrozen water. Amazing! The gorgeous hoarfrost on the vegetation would make it look like a Christmas card as the light drew near. But before it did, we got curled up in the pit blind that’s located in the West Moist-Soil Flood Field. Upon our arrival, we did not kick up any massive number of ducks like the previous visit. However, by shooting time, the mallards started showing up to this flooded “duck magnet” in singles, pairs, and small groups… wings set, and with a little coaxing from the call, ultimately to our decoys and eventually to our duck straps. In an act of self-preservation, we took turns defending ourselves from the onslaught, one hunter at a time, drake after drake, to complete a five-man, 25-mallard limit… and all green! It was one of those, man, it’s SO cold, but so WARM due to what you get from great duck hunting! Love it! Live for it! And it was also New Year’s Day…. a good start!

The following hunts were also fantastic. We hunted one of their cornfields in a snowstorm – three limits equaling 15 Canadas! Then four of us hunted the East Moist-Soil Flood Field. This was ducks on top of ducks on top of ducks! We kicked up about 4,000 upon arrival, all of which seemed determined to come back in flurries every 20 minutes or so, sometimes hundreds at a time! Impressive! We easily limited with 20 greenheads and then stayed for an hour to photograph… (they never did stop)! For the 4th hunt, we set up on the river, right out in front of the lodge – three of us… and shot 15!

Like the previous Flood Field hunt, we had regular flurries of ducks, though not quite as many birds at once and not quite as early, but at the same intervals once they started… group after group! This was followed up with the one hunt where they were, in fact, smarter than us. Yep, the birds won. Our fault. We were on the river but too exposed, and the duck flurries, though visible, were a half mile upstream and paid us no attention.

The Coupe De Grace

But we certainly made up for it on the next and final hunt of my research adventures. The very next day, I pulled six guys together to hunt a spot that I had scouted the previous day after losing that match to the birds. And all adjustments thankfully worked… perfectly in fact! Six guys, 30 mallards, all drakes, big, fat, and beautiful, and all right in the X! I had one of my club guides, his son, and their friend, plus two guys from Ducks Unlimited all to share the experience and add their dutiful part to help prove the quality of duck hunting at the Golden Eagle Ranch. I’m told they all went out to buy lottery tickets after!

Conclusion

That’s six hunts, five of them completely limiting! And duck-wise, they were all mallards and all but one, drakes at that. Therefore, we might not have 35 years of pictures, but these hunts were all done recently and within a short window of time… extremely high percentage of success! I’ve hunted ducks for 56 years, even made a living at it, and I’d say the Golden Eagle Ranch is good… really good!

#1 agent in the state of Wyoming for individual sales volume had it under contract in only six days.

Jackson Hole, WY, (August 16, 2022)- Latham Jenkins, leading luxury real estate broker with Live Water Properties Jackson Hole, recently sold the Jackson Hole Ranch at a non-disclosed record price; it was last listed at $35 million

Neighboring Grand Teton National Park and close to downtown Jackson, the Jackson Hole Ranch is a refuge for people and wildlife. The 233 acres features two homes, a diversity of waterscapes—including the Snake River—and Teton views.

Jenkins’s methodology of storytelling, where he plays the role of the creative director, story editor, producer, and agent for all his listings. This contributed to extensive media coverage received on behalf of how well he marketed the property, such as Wall Street Journal, Business Insider, RobbReport, Realtor.com, and more.

“The property was shown and had the first offer by the buyer in only three days, then went under contract three days later, closing in 39 calendar days. It was truly an honor to have an opportunity to work on this estate property. You have to dig deep into the backstory and understand the heritage and legacy to tell the story from an informed standpoint,” said Jenkins.

Jenkins was the top-selling individual agent in Wyoming in 2021, as awarded by Real Trends. With $54 million in sales already closed so far in 2022. Jenkins’ distinctive approach to buyers and sellers continues to drive value in a slowing market.

“Latham is the best real estate agent I’ve ever worked with. His willingness to go above and beyond in research helped us to position our property perfectly in terms of price, which led to a fast offer and closing. He misses no detail and does everything he can to make the property look good, the process be smooth, and all parties end up happy,” said the seller, Julie Givens.

To learn more about what created this successful transaction, click here to read the case study.

About Latham Jenkins, Realtor:
Latham’s personal mantra – connecting people with experiences – informs all that he does. It’s how he guides each buyer through this life-changing transaction, driven by his three areas of “hyper-local” expertise: real estate services, lifestyle insights and valued relationships with premier financial planners. With Latham, buyers find more than a home; they find a way of life. In 2021, Jenkins was named Live Water Properties’ Top Producing National Broker and runner-up in 2018 & 2020.

About Live Water Jackson Hole
Live Water Jackson Hole is the residential arm of Live Water Properties, specializing in estate, resort, ranch and luxury properties in the greater Jackson Hole region. LiveWaterJacksonHole.com

About Live Water Properties
Live Water Properties is a land and ranch brokerage specializing in premier fly fishing, hunting, ranching, recreational and conservation land. With $2.625 Billion in closed deals, they are uniquely qualified to assist in all aspects of ranch ownership. Since its inception in 2001, Live Water Properties has grown into a 24-person, 12-state land brokerage firm. They are represented throughout the United States with Brokers in Wyoming, Idaho, Colorado, Nebraska, Montana, Nevada, Utah, New Mexico, Oregon, Georgia, Florida, South Carolina, and Texas. The team at Live Water Properties is distinctly qualified to connect clients with their dream properties.

As a broker working on some of the finest fishing and hunting ranches in six states for the past 16+ years one of the things I most enjoy learning is how our clients searched and found their ranches and hearing about their enjoyment during their time of ownership. When discussing these topics with the owners of the Dancing Pine Ranch, located outside of Durango, CO, they reflected on what brought them to the area and the special moments they have shared on the property during their time of ownership. For anyone considering a ranch purchase this summary details the owners’ collective interests and search parameters that ultimately led them to purchase this ranch for sale in Colorado.

We thought we’d share with you the many reasons that brought us to the Dancing Pine Ranch and the Durango area in the first place and how we have come to love it.

After deciding to sell our large ranch in Montana, my husband and I spent three years crisscrossing the Rocky Mountain West looking for the “perfect” place to live. We were both mostly retired. I had lived and worked in Monaco for over twenty years enjoying its culture, ballet, opera, and concerts while he was the retired CEO of a large mutual fund company in New York City and has a passion for the outdoors. We both love travel, culture, great food, fine wine, and the outdoors whether it was hiking, fishing, skiing, hunting, or photography.

We knew it would not be easy to find a place that would meet all our diverse criteria. The criteria included:

Privacy. The property needed to be large enough to be private, but small enough that it wouldn’t be too much work, leaving us free to travel more.
Great trout fishing. The property needed onsite fishing, with easy access from the house, as my husband is a fanatical fly fisherman.
Good horse property. We wanted a barn, open meadows, and riding trails, as I love to ride.
Less than a half hour to a commercial airport since we both love to travel.
A variety of gourmet restaurants since we are serious foodies.
High-quality hospital nearby. This becomes more important as we get older.
Cultural opportunities such as museums, concerts, galleries, etc.
Wide variety of shopping opportunities from box stores to boutiques.
A myriad of outdoor activities such as hiking, rafting, skiing, snowmobiling, and wildlife viewing.
Good weather. Not too hot or too cold and not too rainy.
A house with a guest house having wonderful views and big enough for family and friends’ visits, home for a caretaker, or as an income-producing rental.

We knew it would be a tough search, but we just were not willing to compromise! It took us a while but after looking at over twenty properties we did finally find that very private “perfect” property.

Dancing Pine Ranch is a 182-acre end-of-the-road property that overlooks the Pine River, a totally private gold-medal trout stream with great fishing and some truly “big” fish. We are surrounded by a large ranch (the owners are here full time and are the nicest neighbors one could hope to have) on the north, south, and west and by the Pine River on the East.

The main house is a magnificent 8,000 sq. ft. home with four bedrooms, four full baths, and two half baths. The kitchen is a 120 sq. ft. gourmet kitchen (I love to cook) with an attached “breakfast” room and walk-in pantry. It is an “open landscape” design home with the kitchen, dining room, living room, and library all open to each other. This open space is great for parties yet intimate enough that it works well for just the two of us. There is a large entertainment deck with a hot tub connecting the kitchen, den, and breakfast room with the master bedroom. I love the views and the sounds of the river.

The sumptuous master bedroom suite has a log propane adobe fireplace opening onto the hot tub deck. The master bath has two quite large walk-in closets, two sinks, two toilet stalls, a glorious two-person shower, and a large soaking tub (luxury personified). They both have great views of the river and its peaceful sounds. In addition, there is a connected TV room/den enabling one of us to sleep (usually my husband) while I watch TV and cuddle with our dogs.

Just beyond the living room, there is a large entertainment room and a game room (pool and ping pong). Additionally, we have nearly finished a large in-law’s apartment.

Downstairs there are two bedrooms, two baths, a comfortable living room, and a small kitchen. A great place for children and grandchildren to stay when they visit! There is also a large (1,000 bottle humidified wine cellar).

The “piece de resistance” downstairs is a large recreation center highlighted by a heated 15-foot resistance pool with an underwater treadmill and adjustable water flow which is a great low-impact exercise. The ranch has a three-bedroom guest house at the entrance to the property plus a large barn and two loafing sheds for horses.

The variety of wildlife is stunning! Herds of elk, many mule deer, flocks of wild turkeys, and the occasional black bear and bobcat. We see deer and elk nearly every day from the house in the meadows to the west, in the same place we have gorgeous sunsets. It doesn’t get any better than seeing the fawns and calf elk frolicking or the bear cubs in our horse watering trough. The birdlife is tremendously varied and a joy to watch. From the Rufus Hummingbirds chasing each other around the feeders to the rare, brilliantly colored Lewis’s Woodpecker, to the magnificent Great Blue Heron nesting in an 80-foot Ponderosa Pine along the river.

We especially enjoy our gardens. Jon grows a large vegetable garden where he grows sweet corn, potatoes, watermelons, lettuce, and more. We fence them to keep the deer and elk from eating the fresh vegetables we enjoy eating. In addition, we have several highly productive apple and apricot trees.

Our spectacular flower gardens are a kaleidoscope of ever-changing colors from spring through fall. They start blooming in the early spring with daffodils, then out come the pink and white peonies, purple iris, Colorado columbines with their delicate flowers, and many more. They continue through the summer and into the fall. Since I lived in the south of France, I have a passion for lavender, so we have three different varieties. To attract the hummingbirds and butterflies we have a blanket, cone, and rudbeckia flowers. They are joined by salvia, hyssop, blue geranium, mock orange, Apache tears, and yucca later in July. In the fall the shrubs begin to take over with their burgundy foliage and candy pink coral berries. Since I grew up in the Midwest and love the brilliant red of maple trees, we have two that contrast with the big golden aspen trees in our front yard.

The Pine River is a trout fisherman’s dream! It is a wholly private tail-water fishery big enough to have a good population of trophy (over 20”) browns and rainbows, yet small enough and private enough that there is never a drift boat or another fisherman. Since it is a tail-water fishery it fishes well pretty much all year long. Jon loves fly-fishing and gets truly excited to watch a big brown or rainbow rise to his hopper imitation. While the average fish he catches is in the 16” to 18” range he frequently catches ones much larger. His biggest is a 27” brown and most days he will catch at least one that is 20” plus. Usually, a half day of fishing produces six to ten fish, mostly browns with a good number of hefty rainbows. Having the river down the hill from our house is tremendously convenient – no loading the car, attaching a trailer, and driving an hour or more to start fishing.

The nearest town of Bayfield is about a ten-minute drive from the Dancing Pine Ranch. Bayfield has all the essential small-town services plus a couple of quite good restaurants. If you want to join the locals for a hearty meal the western atmosphere of Brenda’s is the place to go. There are a couple of good restaurants serving Mexican, pizzas, and burgers with craft beers. Our favorite for dinner is the Mill Street Bistro, which serves three gourmet entrees, great starters, and the choice of some awesome cocktails. They are open Wednesday to Saturday evenings and will do catering to your home.

In Durango, only a half-hour drive from Dancing Pine Ranch, there are at least a dozen truly gourmet restaurants. Eating in the historic Strater Hotel is a must. You have the choice of the Diamond Belle, a western saloon, where the staff dresses in period dance hall costumes and has great food and drinks. The more romantic choice in the Strater is the gourmet Mahogany Grill. We are frequent diners at Seasons who have won the Best Award of Excellence from Wine Spectator, Eolus with their rooftop dining and incredible “Two Ways’ prime rib that Jon usually eats and the lobster burger that is my favorite. Other restaurants that we regularly dine at including Ore House (steak and seafood), Primus (wild game and seafood), and 636 Main (Fine dining and martinis). The wide range of choices includes American, French, Mexican, Italian, and even Himalayan. It is so close to such outstanding food choices that we are regular patrons.

Durango and its airport are each about a 30-minute drive from the ranch. The Durango/La Plata County Airport has frequent daily service by American and United to Denver, Dallas, and Phoenix.

Durango is a marvelous town. The weather in Durango and Bayfield is nearly perfect. With early springs, late falls, and comfortable summers. It was recently ranked by the Tourism Sentiment Index as the most loved tourist destination in Colorado and number seven in the United States. No wonder we love it so much! Its number of gourmet restaurants, a wide array of cultural opportunities and outdoor activities, and great shopping are what brought us here in the first place. The incredible cliff dwellings at Mesa Verde National Park, the narrow-gauge steam-driven train up the near vertical Animas Canyon, the world-class hot springs at Pagosa Springs, the skiing at Wolf Creek and Purgatory, the 1.8-million-acre San Juan National Forest with its many hiking trails to high mountain lakes, wildflower meadows, and bugling elk, are all within an hour’s drive. Additionally, historic high mountain towns like Telluride, Ouray, and Crested Butte are only a day’s trip away. Sante Fe with its myriad of art galleries and fine restaurants is only about a three-hour drive away. You could live here for a lifetime and not have seen all the fascinating activities the area has to offer.

Friends ask us, “Why are you planning to leave the place you love so much?” Well, we are not leaving Durango we love it too much! We’re just downsizing a bit and buying a boat that will enable us to cruise the Bahamas, Nantucket, and other places for six months of the year.

Explore the Dancing Pine Ranch and the lifestyle that awaits a new owner here.

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