Page 9 – Land & Ranches for Sale in Western & Southeastern United States

Cody Creek Sanctuary, a 65-acre private refuge minutes from downtown Jackson, WY, was announced as the Wall Street Journal’s “House of the Year” third-place winner. Each year, Wall Street Journal readers select from 52 featured “House of the Week” properties, to award the titles of the nation’s top three homes on the market. Cody Creek Sanctuary was recognized for its classic and elegant log home, remarkable open spaces, invaluable wildlife habitat and expansive waterscapes. The property is listed with Live Water Properties’ residential branch Live Water Jackson Hole and broker Latham Jenkins.

“With six wetland areas, over a half-mile of spring creek with native Snake River cutthroat trout, a local elk herd numbering well in the hundreds, and over 130 species of birds that call it home, this rare property is quite deserving of the designation ‘Sanctuary,’” says Alex Maher, president/founding partner Live Water Properties. “The fact the Wall Street Journal recognized it as a House of the Year is further testimony to the quality of life with nature that this home affords its owners. Live Water Properties is honored to tell the story through Latham Jenkins’ marketing talent.”

The appeal of Cody Creek to WSJ readers follows a year of exponential growth in real estate sales in both the Western ranch market and the Jackson Hole luxury market. As the global pandemic swept the country, the romantic lure of the West and the promise of returning to a simpler life has led to a new type of westward expansion.

Cody Creek embodies what buyers are seeking in both of these markets – the open spaces and quiet peaceful seclusion of ranch life, and a location minutes from downtown Jackson Hole. “Cody Creek blends Teton views and resort amenity convenience,” says Macye Maher, CFO/founding partner at Live Water Properties. “It is an exceptional property that looks like a colorful canvas lit up in alpenglow. It’s home to wild animals. One word summation: stunning.”

Cody Creek is the first home in Jackson Hole and the first Wyoming home to take the top three honors in the annual online poll. Macye Maher adds, “The success of listing Cody Creek lies with the trust the Seller has with our Broker Latham Jenkins and the Live Water Team and in our marketing efforts with unparalleled national market reach.”

Read the entire WSJ article online here or pickup a copy today January 29,2021

Learn more about Live Water’s national marketing platform here.

Orange skies

Jackson Hole is blessed with many terrific attributes, which is why we are thankful to call this valley home. The ones that come to mind quickly are snowshoeing, alpine skiing, cross-country skiing, fat biking, horseback riding, and fishing, to name a few.

One activity that Jacksonities and Wyominities take very seriously is preparing delicious meals. Thankfully, Sweet Cheeks Meats calls Jackson Hole home too.

Nora and Nick, the owners of Sweet Cheeks Meats, started the business back in June 2015, at the Saturday Jackson Hole Farmers Market selling breakfast sandwiches for their loyal customers. “The lifeblood of the company is to sell locally produced meat to our customers,” says Nick. We source our meat from a half dozen to a dozen farms and ranches depending on the time of year.”

Sustainability is at the forefront of Sweet Cheeks Meat’s mission. They are adamant that every inch of the animal is used in the store one way or another. Whether that be how they prepare the dog treats for sale on the checkout counter or the fryers that run on beef fat, which gives the flavor to their world-famous tater tots. The meat that does not sell in the front of the shop in a timely manner becomes their mouthwatering smash burgers.

The Robinson Family Farm and Ranch in the Star Valley, Wyoming, was the first connection for Nora and Nick. This connection was made before the butcher shop, when they strictly sold at Jackson Hole’s Farmers Market. From the Robinson Farm and Ranch, connections with local ranchers were made one by one. In 2020, the meat can be sourced from Teton or Star Valley and at the foothill of the Big Horn Mountains in Ten Sleep, Wyoming.

According to Nick, “the reason that the meat has so much flavor is the longer life of the cattle, free-range and the humane efforts to naturally raise the animals.” Sweet Cheeks Meats purchases their meat at hanging price, therefore they have the ability to adjust the prices of all the meat in the shop. This process allows the consumer to pay for their meat from one animal instead of multiple, which often happens when purchasing ground beef found in grocery stores.

By the time that Thanksgiving rolls around each year, the Sweet Cheeks Team ends up cooking roughly 250 turkeys for the Jackson Hole community. It is safe to say, after cooking that many turkeys, Nora and Nick, enjoy a non-traditional thanksgiving meal before meeting up with their incredible staff for their big turkey day meal, which includes all the sides and lots of gravy. Dumplings are usually what they fill their belly’s with, “because we can always find an appetite for endless amounts of dumplings,” says Nick.

The Sweet Cheeks Meats Team has many items to be thankful for, with the first being the community they serve. Whether that be the farmer and rancher or the loyal patrons that walk in the shop. Nora adds that, “I’m thankful for the crew around us. Especially for their willingness for the long hours they are happy to clock in, and they always do it with smiles on their faces.”

In their fifth year of business, Sweet Cheeks Meats had to change their operations protocol to adapt to the ever-changing safety precautions around Covid-19. Nick is extremely grateful for the cooperativeness from customers adapting to the changes so that they can stay open during the pandemic.

In their butcher shop, sausage is a top seller as they sell by the link versus buying a five or six-pack at the grocery store. At 185 Scott Lane in the heart of beef country, known as Wyoming, ground beef is another top seller that “walks out the door.”

We at Live Water Properties are incredibly thankful to have a butcher shop so close to our headquarters that supports local farmers and ranchers with similar sustainability efforts.

Changes to the deductibility of conservation easements have been discussed by the new presidential administration, however, it is the consensus of the conservation community that the value of conservation easements to environmental stewardship, which many in both parties support, would be hard to overlook when future changes are considered. Regardless, this may add urgency to the minds of many landowners and should be considered when evaluating future plans for your property.

Increase in sales of land with Conservation Easements

The general market trend for recreational and sporting properties has been very strong and seems to coincide with an interest in stewardship and conservation as a win-win. State and Federal investment in conservation purchases has declined recently due to budget restrictions. The traditional use of conservation easements as a donation of rights remains vibrant. As conservation easements have become more commonplace, landowners’ and buyers’ comfort with their use and implications has increased. As these conserved lands change hands more often, the familiarity with them has helped to establish a market for these properties, yielding increased interest, shorter sales timeframes and higher prices, where previously conserved properties were harder to sell and required steeper discounts. This market trend in desirability of conservation properties has coincided with a broader market trend of increased interest for recreational and sporting properties as a retreat and place of quiet enjoyment for a family during the pandemic.

Historically, the primary motivation for placing a conservation easement on land was legacy and land stewardship. The additional benefit of offsetting tax on ordinary income attracts landowners and Buyers that might not have previously been interested. Now the market is recognizing that the landowner maintains most, if not all, of current or desired uses of the land even though the conservation easement is in place.

Increased interest in recreational and sporting properties for ownership and stewardship

“Depending on the facts and circumstances, a conservation easement can be a very useful tool for owners who are not only looking to protect their land in perpetuity but are also looking for a potential tax benefit,” says Morgan Williams, a Family Office CPA in Charleston, South Carolina. “Some of the families that we have worked with have used the charitable deduction from a qualified conservation contribution to offset or reduce the capital gains from their timber operations as well as diversifying out of concentrated equity positions. States have also made conservation easements attractive with various incentives from reduced or exempted real estate taxes to state tax credits.”

For an individual or business owner with reasonable assurance of high taxable income over the next ten to fifteen years, and even a passing interest in owning and enjoying recreational land, the easement is a tremendous tool to acquire, own and enjoy the property while assuring great stewardship for the future and taking advantage of the tax benefits from the donation value of the easement. In the case where personal enjoyment represents a large motivator in the decision to buy, this tool takes on even greater value. For the Buyer, the opportunity exists to purchase a property that fits their needs and desired uses at a discount to market value.

The biggest challenge facing owners of high-quality land today is the increasing cost of owning and maintaining what has traditionally been a non-income producing asset. As families search for alternative revenue sources to offset these costs, oftentimes they place too much pressure on natural resources such as timber. This pressure makes their cash flow unsustainable and decreases the value of the property in the long run. This strategy can lead to the property being broken up or sold outright when the cash flow runs out. The opportunity to divert cash away from income tax payments and toward improvements or maintenance is a win for the landowner. This is one way to generate cash in the form of tax savings without putting additional strain on the natural resources of the property. There is also very little property tax due on conserved land, which further reduces annual expenses albeit small in comparison to operating cost.

According to Justin Park, Ducks Unlimited’s Southern Region Lands Manager “We’re still seeing easements used as an income tax offset strategy. The deductibility rules have never been better at a federal level. There’s also funding for certain types of easements that can help cover transactional hurdles and provide a cash infusion for a land-rich sort of owner who wants to keep their land the same but could use some operational funding to keep that up. A bargain-sale easement is a way to get some cash to set up a management fund or fund capital investments. Not to mention the partnership potential with Ducks Unlimited as an easement holder and all of the technical assistance we can provide to our partner landowners.”

An Example of Conservation Benefits

Disclaimer: The following example is a summary of the conservation benefit equation based on discussions with professionals in this industry, but any client should consult with a lawyer or CPA to review this strategy and how it would affect their own tax situation. The final deductions available to a client will be based on appraisals and therefore cannot be guaranteed.

Suwannee Valley Plantation is a Florida property for sale, currently listed with Live Water Southern. This property contains 1,500 acres of conserved land, is bordered by an existing conservation easement and borders a state forest with frontage on the historic Suwannee River. This makes it an ideal candidate for an easement and legitimizes the conservation use. On the other hand, the owner re-zoned the property several years back to mixed-use zoning, which increases its development potential and the resulting highest and best use value.

The donation value of the easement is the difference between the highest and best use appraisal and the conserved value appraisal. The difference between these appraisals is the donation value to the owner after owning it for a one-year minimum. Multiplying this value by your tax bracket percentage gives your total potential tax savings. The value of that donation can be used up to 50% in any one year to offset tax on ordinary income and it can be carried forward for 15 years. The potential total tax benefit to the owner in this example could be in the millions over 15 years, depending on how the property is owned and the limits on that individual or entity’s annual charitable deductions. This property also lies in an Opportunity Zone, prominently mentioned in President Trump’s State of the Union address, which could further increase the tax benefit if certain conditions are met.

If one could obtain a high-quality recreational property, pay less in income tax, pay lower property tax, use the property and maintain the value of your asset that would be an attractive deal. Even more attractive still is establishing a record of excellent stewardship of the land for perpetuity and preserving it for future generations to enjoy.

The Land Trust Alliance offers a helpful summary of the benefits and intricacies involved in conservation easements for land and we recommend it as a resource to our clients.

We hope this discussion of the changes in the market for conserved land gives landowners and buyers a better understanding of investing in land and leads to more land being protected for future generations. To learn more about the conservation and investment opportunity for Suwannee Valley Plantation contact Live Water Southern Managing Broker Hunter Brant.

Summer has arrived out West, and with that, it is time to escape to the river and for Live Water’s Mountain West Hatch Report. As murky waters of runoff clear and turn to hues of crystalline blue, we find ourselves eagerly anticipating the start of a new season of fly fishing. If you have never read the Hatch Report, this is the time of year our Ranch Brokers, many of whom are avid anglers detail their best tips for how to fish our prime fishing ranches on the market and the area waters.

Colorado Hatch Report

Sherrod Ranch
Steamboat Springs, CO | 1,400 Acres
151 Ranch
Steamboat Springs, CO | 151 Acres
As flows on the Elk River have peaked and are dropping quickly, the bug activity has come to life, and the fish are happily eating both subsurface and on the surface. The stonefly nymphs and caddis nymphs have been producing consistent rainbows in the softer water in the morning hours. As mid-day temperatures warm up the water, adult caddis, pale morning duns and blue winged olives seem to get the fish eagerly to the surface. Expect the hopper fishing to turn on in the next few weeks as there are many already pushing around in the tall grasses of the hay meadows.
Explore the Sherrod Ranch
Explore 151 Ranch

Black Bear Ranch
Glenwood Springs, CO | 902 Acres
For the stillwater fishing enthusiast, this ranch offers splendid lake fishing surrounded by lush aspen groves and sweeping views. A slow stripped leech will typically produce when there is not obvious activity on the surface. Blue damsel flies are a great attractor to illicit sipping fish to eat on the surface and can be very effective when paired with a scud pattern. As breezes pick up in the afternoon, anglers should be mindful of small hoppers and ants on the surface and match those accordingly.
Explore Black Bear Ranch

Los Piños Retreat
Bayfield, CO | 200 Acres | Listed at $4.295M
With runoff tapering and water temperatures rising to the optimum range, the fish are starting to look up and become more active. During a lull in hatch activity, listing agent Brian Hartley found success with a thin mint streamer dead-drifted through deep pools while onsite for a showing. As flows continue to settle out, we’ll be ready with an assortment of small terrestrial patterns, mayflies and large caddis dries. Given the lack of pressure on this stretch of picturesque water, the resident wild fish aren’t overly leery of anglers, so any number of attractor patterns fished in the obvious feeding lies typically receive the desired reaction.
Explore Los Piños Retreat

Idaho Hatch Report

Lufkin South Fork River Ranch
Ririe, ID | 151 Acres
The flows on the South Fork of the Snake River have been consistent around 20,000 cfs. Expect to find fish on the slower inside seams and away from the faster moving water on the banks. Commit to this strategy, and one will do well this time of year. Hatches consist of midges, caddis and B_W_O’s on the surface, while larger stone patterns and classic pheasant tails are most productive. With warmer temperatures and stream flows decreasing, expect to see the salmonfly hatch soon.
Local Tip: If you intend to spend the day fishing the South Fork, make sure to check stream flows with local fly shops. When water levels are adjusted at the dam site for irrigation demand downstream, experience shows that fishing tends to be “off.”
Explore Lufkin South Fork River Ranch

Montana Hatch Report

Craighead Bench on the Bitterroot River
Florence, MT | 253 Acres
The Bitterroot is dropping into its prime, with the first dry fly opportunities coinciding with hatches of salmonflies and golden stones on the upper reaches near Darby. Closer to Missoula remains a subsurface game for now, but as the river continues its annual drop, more options will soon materialize, and the “‘Root” will break out river-wide into a dry fly fishing paradise. As the larger stoneflies wane in the coming week or two, expect hatches of Bitterroot stones, sallies and pale morning duns to fill the void. Drifting remains the best way to cover water these days. However, the many braided channels throughout the middle and lower river will open up as water levels recede and more gravel is exposed, allowing wade anglers an opportunity to explore the river’s dynamic system of springs and side channels. It’s hard to beat a day fishing the “‘Root” this time of year.
Explore Craighead Bench

Complete Fly Fisher Lodge
Wise River, MT | 13.6 Acres
The Big Hole is in great shape with hatches coinciding with river-wide clarity. As the famous salmonfly hatch works its way throughout the river system and begins to fade, expect golden stones, caddis and pale morning duns to keep the fish occupied both above and below the surface. Some of the largest brown trout in the West can be found here, and the Big Hole is one of the few places where an angler can catch a wild grayling, brook, rainbow and brown trout. Spend a day on the Big Hole this time of year and one will realize why the river’s tea-colored water, unmatched scenery and robust populations of trout, draw anglers from all over the world.
Explore Complete Fly Fisher Lodge

Oregon Hatch Report

Black Drake Ranch
Bly, OR | 420 Acres | Listed at $1.695M
The hatch is on! The black drakes started to hatch in June, and the larger trout are coming into the North Fork of the Sprague River and then into the flow of Five Mile Creek. With a total of nearly three miles of private water, the opportunities for catching browns, rainbows and red side trout are excellent. The ranch is green, and the weather perfect for a new season of fishing.

Explore Black Drake Ranch

Wyoming Hatch Report

Green River Getaway
Daniel, WY | 42 Acres
The current stream flows at Warren Bridge near Daniel are fluctuating between 1,000 to 3,000 cfs. This time of year can be very productive with a large streamer and a 6-weight rod. Expect the Green River to stabilize in the next few weeks, and the fish to move into their more traditional feeding lanes along the undercut banks as the mountain runoff and water demand for irrigation dissipates. One should see caddis and yellow sallies in the next few weeks and prepare for an exceptional grey drake hatch around the Fourth of July. If you haven’t fished this hatch, it is a must for any angler!

Explore Green River Getaway

When I was growing up in a farming community in north-central Montana, the conversations in the fall were always focused on sporting and hunting. Today, recreation and Montana go hand in hand. However, that was not always the case. Initially, the region’s irrigation brought farmers to homestead the area in the late 1920s and 1930s, many of whom had unsuccessfully farmed on dryland farmland throughout the West in the dust bowl era. The water sources these farmers sought allowed farms to thrive and also created the habitat that allows for bird and game populations to flock to these ranches. While Montana homesteads began as production-based agricultural properties, many have evolved into recreational ranches. They are centered around not only farming but sporting opportunities too.

Fairfield, Montana, is an excellent example of how the land use changes impact wildlife over time. Prior to the start of the Greenfield Irrigation District in the 1920s, the area was 80,000 acres of arid short grass prairie. Farmers were concerned with their livelihood. With the delivery of water and cultivation of ground for hay and grains, these duck and pheasant populations began to grow. With the birth of the irrigation project, Freezeout Lake, which was a saline seep area to the northwest of Fairfield, began to fill with excess water and became a State Wildlife Management Area. It is also a prime spot to view and listen to the spring and fall snow goose migrations.

Fairfield, Montana’s water delivery and groundwater drainage systems are a network of open water sources. In addition to agricultural production, they are a key component of waterfowl and gamebird populations. Being the “Malting Barley Capital of the World”, the residual grain after harvest is a key component to the wildlife numbers. Modern farming practices have allowed farmers to convert from traditional flood irrigation to sprinklers and increase field sizes. While pheasant populations have declined with the change in practices, waterfowl numbers have increased significantly.

Buying or Building a Recreational Property

Similar to Fairfield, which began with a production focus and developed into a major waterfowl and game bird area, there are working farms and ranches that have the key components of water, feed and cover needed for a recreational property. Many buyers are looking at these properties, which are currently operated with the primary emphasis on production, to purchase and add an emphasis of a blended farm or ranch with both production and recreation.

There are two main approaches a buyer of a recreational property might take when buying a ranch. One might consider a property that has good “bones” with water, feed and habitat present, but one on which wildlife has not been the focus of the current operation. The second is purchasing a “finished” property. Some buyers have an interest in developing a plan for improvements, and then they want to take on some of the tasks themselves or possibly under the eye of a consultant.

Those of us involved in ranch marketing, have seen an increasing number of consultants and firms that specialize in fish and wildlife habitat enhancement and development. A work partner’s clients have an extensive combination of wildlife and fishing projects on their ranch, which include stream restoration, wildlife cover and food source establishment, as well as erosion rehabilitation and control. They are many years into this program, with years still left to see their full buildout. Involving these resources prior to purchase can help a buyer understand the options and potential of increasing wildlife numbers and farm or ranch aesthetics, as well as the time and costs to make these improvements happen.

What to Look for in a Recreational Ranch

Good wildlife properties have wildlife present, whether it is an emphasis or not. As a Buyer, it is critical to find the right Ranch Broker to help you in your search, one who understands current resource conditions, can connect you to the right resources and businesses that are able to help, and assess time and money needed to get it to the developed level you envision.

The Ranch and Land Brokers at Live Water Properties are experienced and enthusiastic in enabling Buyers to use their passion for wildlife pursuits to find their ideal recreational property. Having relationships with other specialized professionals allow for a better understanding of each properties’ current condition and what is involved to enhance it further.

Learn more about buying ranches and land with a Live Water Broker or contact one of our Brokers to begin your search for a recreational property.

As the peak of Covid-19 begins to slow down across the United States, certain governors have begun to open their states. This will be the beginning for the return to “normal.” At least, what the new “normal” will be.

States beginning to open restaurants, bars, theatres and salons will have people feeling differently about attending these destinations. The word “open” may take on a new meaning as restaurants will spread people out, bars may not allow anyone to sit on a stool and salons may have people wait outside until it is their turn for a haircut.

The new “normal” should be exciting to Americans as it will allow us to change industry norms. They do not have to be dramatic changes but when one enters the grocery store, it may be a good idea to always wipe down the shopping cart before using and wear a mask.

In the darkest of days there is always a light the shines through, the reopening of states. People will not take work, live concerts or even a simple haircut for granted. The simple interactions that were had every day before Covid-19 will hopefully bring joy to people after the lockdowns.

Across the west in America, springtime means calving and tilling season, which is a large job on the working ranches. This time brings new hope to the ranchers and farmers as they know they have new responsibilities with the calves and their mothers and crops to stay as healthy as possible.

Once all the calves are born, the branding process is planned, which can be a multiple day event to ensure their cattle are marked. For the farmers, once the land is tilled their work truly begins. They then plant the seeds, keep in mind how much water mother nature drops upon their crops and eventually harvest a few yields a year.

When we asked one rancher if she had noticed any differences in her operations with Covid-19, she replied, “not yet, but we don’t sell until the fall.”

What does spring mean for ranchers? Our same friend answered, “It’s like turning a faucet on full power.” They calve and brand, drag fields, irrigate, get cattle off to summer pastures, and don’t forget haying until late August.

The ranchers do everything in their power to keep their calves and mothers healthy. Parents around the globe are doing the same for their young children. Business leaders are implementing systems so that their employees can work from home so that commerce does not come to a standstill. Farmers do the same as all of these people, as their crops are their means to an end in their financial world.

Parents have taken on new roles with the school shutdowns across the country. If work and raising a family was not enough, they now have the responsibility of assisting their children with schoolwork when the Zoom call ends with the teacher.

These new lessons have been stressful for families in every community and they will hopefully be more thankful for the teachings that the teachers provide to their children when school returns.

Farmers have always known that they are an integral part of making the American day-to-day life accessible for people across the country. Covid-19 has highlighted how important these people are, because when shelves went bare in the grocery store – people panicked. The everyday Joe will hopefully drive through Kansas, Iowa, Minnesota, Wyoming, Idaho, Montana and the Dakota’s with a new appreciation for the land that they see.

For many of the cattle ranches that Live Water Properties proudly represents, life has been similar since this pandemic began. Live Water Properties is knowledgeable of the ranching community. In the coming months as the world begins to reopen it will be insightful to see the impacts and how old norms change in the “everyday life of American ranchers.”

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