Land Report January 2012 Newsletter

Here’s a great way to start your year: the January edition of The Land Report newsletter.

This issue is chock full of stories and links to essential resources, including the Winter 2011 issue of The Land Report and of course January’s Land Report Top Ten.

As you might imagine, December wrapped up with a slew of end-of-the-year closings, and several key ones are detailed in the January newsletter, including the sale of Montana’s Horse Ranch and the sealed-bid auction of the Robert Mondavi Estate in Napa.

For more up to the minute reports on listings, auctions, sales, and breaking news pertaining to land and landowners, be sure to follow The Magazine of the American Landowner on Facebook and Twitter.

P.S. Our award-winning quarterly magazine is available in a print version via subscription.

Land Report Top 10: Rockpile Ranch

Situated along the scenic loop in the Davis Mountains in West Texas lies Rockpile Ranch, which was named for the massive geologic formations located at the entrance of the ranch.

Comprised of 55,374 acres, this historic ranching operation represents some of the best cow/calf range in the West Texas cow-country. This ranch features some of the most spectacular scenery in West Texas, ranging from rugged interior mountain crags and slopes to expansive rolling grasslands between picturesque high peaks within Rockpile’s boundaries. There is also a very large, spring-fed canyon that nurtures some of the most remarkable old-growth wild black cherry and rare Texas madrone groves in Texas on this ranch.

The mature pine, alligator juniper, and large native oak woodlands on this property create an exceptional habitat for wildlife, including a diverse resident bird population and several migratory bird species during the spring and fall seasons. The dense grasslands provide excellent habitat for an extensive wildlife population, from Texas mule deer, pronghorn and white tail deer to hogs, grey fox and javelin.

Available for only the third time in over a century, this historic ranch is listed with King Land and Water. For more information, contact James King at (432) 426-2024 or via email at james@kinglandwater.com.

Click here to see the full list of Land Report’s Top Ten priciest properties.

Land Report Top Ten: November 2011

From Hawaii to the Lone Star State, here are America’s priciest properties, led by $175 million Jackson Land and Cattle Ranch, pictured here, which is listed by Hall and Hall.

1. Jackson Land and Cattle: $175 million

These 1,750 acres are simply the most phenomenal property to come to the market in the Teton Valley in decades. Jackson Land and Cattle is one-of-a-kind in every respect: world-class improvements, including an equestrian center designed by Jonathan Foote, AIA; lack of any development restrictions; and don’t forget the stunning Teton views. Hall and Hall’s John Pierce has the listing.

2. Walton Ranch: $100 million

This 1,848-acre working cattle ranch was pieced together by the Walton family beginning in 1958. The family placed the ranch under conservation easement in 1983. Billy Long and Ron Morris of Ranch Marketing Associates have the listing.

3. Ranch Dos Pueblos: $84 million

This oceanfront parcel is on the market for the first time in three decades. Spanning 2,175 acres just west of Santa Barbara, it’s one of the largest remaining ranches along the breathtaking Gaviota Coast. Kerry Mormann & Associates has the listing.

4. Tranquility Estate: $75 million

These 210 acres on Lake Tahoe are crowned by a 20,000 square-foot mansion. Owned by Tommy Hilfiger co-founder Joel Horowitz, it was originally priced at $100 million in 2006. Listed by Shari Chase and Sue Lowe of Chase International.

5. Aspen Valley Ranch: $59 million

Billed as the largest ranch near Aspen in the Roaring Fork Valley, this ranch boasts senior water rights as well as over 800 acres and is located just 10 minutes from the Aspen airport. Joshua Saslove of Joshua & Co. has the listing.

6. Robert Taylor Ranch: $56 million

112 acres in Los Angeles’s tony Brentwood enclave. The roomy ranch house, which was designed by Robert Byrd, features 17 bedrooms and 17 bathrooms. Joyce Rey of Coldwell Banker Previews International has the listing.

7. Hana Ranch: $55 million
This 4,500-acre working ranch on eastern Maui surrounds the town of Hana. The property boasts two miles of Pacific oceanfront and rises over 2,200 feet up the slopes of Haleakala. Dan Omer of Island Sotheby’s International Realty has the listing.

8. Rockpile Ranch: $54 million

For only the third time in over a century, this 55,374-acre cattle ranch in the Davis Mountains of Far West Texas is on the market. Since 1992, the Rockpile has been owned by McCoy Remme Ranches (No. 41 on the 2011 Land Report 100). James King of King Land and Water is the listing agent.

9. Dana Ranch: $45 million

With only two distinguished owners in nearly 100 years and an unmatched record of profitability, the Dana is considered by many to be the finest operating and recreational ranch in the Rocky Mountain West. Supporting 3,000 animal units on 59,000± acres, it boasts over 13 miles of superb fisheries and an incredible diversity of wildlife resources from elk to waterfowl to upland birds. Listed by Dave Johnson with Hall and Hall.

10. Flying Dog Ranch: $40 million

This 245-acre Aspen landmark features nearly a mile of Collins Creek and Woody Creek and borders the White River National Forest. Morris & Fyrwald Sotheby’s International Realty has the listing.

Click here to download a copy of the November 2011 newsletter.

Energen Moves Into the Permian Basin

Birmingham-based Energen Corp. (EGN) announced the purchase of more than 40,000 acres in West Texas from SandRidge Energy (SD) in Loving, Reeves, Ward, and Winkler counties. Energen says it has identified 62 potential drilling sites in the 3rd Bone Spring play. At a vertical depth of 10,500 to 11,500 feet, the typical Bone Spring well has estimated ultimate recovery of 400,000 to 500,000 barrels of oil equivalent. The company will pay $110 million plus standard closing adjustments. Energen is budgeting $7.5 million per well for drilling and completion costs.

Foreign Investors Own Major Stake in Maine

Foreign investors own an interest in 21.2 million acres of U.S. forest and farmland, an amount that equates to just under 1 percent of all the land in the U.S. Every one of the 50 states as well as Puerto Rico has foreign ownership, but far and away the largest concentration was in Maine with 3,323,846 acres (16 percent of the national total). Forest and timberland accounted for more than 3 million of those acres with Canadian companies the leading landowners.

The figures were compiled by the Farm Service Agency from filings required by the Agricultural Foreign Investment Disclosure Act of 1978 and are available in this handy 178-page report.

Florida: “It’s Almost Like a Fire Sale”

A University of Florida study has put a staggering number on just how badly the economic crisis has impacted rural land values in the Sunshine State. The study concludes that land values plummeted upwards of 55 percent in 2008 from highs just one year previously.

The study focused exclusively on rural land, mostly those outside of urban areas that would have been hot spots for development just prior to the worldwide economic collapse.

“In some cases, it’s almost like a fire sale,” said Rodney Clouser, the UF professor of food and resource economics who led the survey.

The study found the northern part of the state most affected with values dropping the aforementioned 55 percent.

Farmland, that which traditionally would be the main focus of The Land Report readers, saw declines that reached as much as 26 percent.

What’s worse is the predicted continued decline in 2009.

Land prices are expected to continue their drop through 2009 — although not as dramatically as in 2008. Survey responses from individuals involved in the Florida real estate market predict an overall drop between 5 and 17 percent.

The full UF report is available here.

70 – Isaac Ellwood Heirs – 130,000 acres

Joseph Glidden and Isaac Ellwood brought an end to the open range in the American West. The two entrepreneurs co-owned the original patent for barbed wire and profited handsomely. Ellwood’s descendants own and lease five ranches in West Texas totaling 260,000 acres. According to family spokesman John Welch, approximately half is deeded land.

68 – Wilson-Hodge Ranches – 134,000 acres

Headquartered in Del Rio, Texas, this family-owned ranching company has three divisions spread out in three counties in Southwest Texas. In addition to traditional ranching operations, a wildlife management program has been implemented that has bolstered native populations of whitetail and mule deer, turkey, dove, and quail.

96 – Eshleman Family – 96,00 acres

The family’s Eshleman-Vogt Ranch is located in Jim Hogg County. This South Texas property is used primarily for cattle ranching, although hunting leases are proving to be a valuable source of income as well.

13 – Dolph Briscoe Jr. – 560,000 acres

A two-time Texas governor, Briscoe, 85, also served as the president the Texas and Southwestern Cattle Raisers Association where he spearheaded the cattle industry’s effort to eradicate screwworms. He declined to confirm published reports of the size of Briscoe Ranch, which was established by his father.

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