SALES | AUCTIONS | FINANCE | APPRAISALS | MANAGEMENT
FROM OUR CORNER | FALL 2015
CORRAL CREEK RANCH | EVERGREEN, CO
PHOTOS LEFT TO RIGHT: OWEN-SKILES SUNNYSIDE RANCH, BURNS, CO
|
CANYON RANCH, GENESEE, ID
|
IX RANCH, BIG SANDY, MT
MULTI-GENERATIONAL RANCHING
by Debbie Price
In our continuing series on multigenerational ranches, we asked five families
to tell us about the greatest challenges they've faced as ranchers. They talked candidly
about the joys and stresses of modern ranching and shared wisdom gleaned from decades
of experience. The challenges they describe range from universal to deeply personal.
What's the greatest challenge
you've faced as a rancher?
SURVIVING THE WORST DROUGHTS ON RECORD
For Watt Casey Jr., and his family, the recent prolonged Texas
drought, now officially the worst on record, posed the most serious
challenge to their cattle operation since the legendary Texas
drought of the 1950s.
"Droughts are part of ranching in Texas, but when you're out of
water, you're out of business," says Casey, whose ancestors, the
Matthews and Reynolds, began ranching in Shackelford and
Throckmorton Counties in North Central Texas in the mid 1800s.
Casey Beefmasters is headquartered today in Shackelford County
on the Phin Reynolds Ranch, which the Casey family has operated
since the 1950s. Casey's father, Watt Casey, a veterinarian, first
started using Lasater Beefmaster bulls in Laredo in 1948—just two
years before the mid-century drought set in. "It was probably the
worst time to be a cattleman in South Texas since the state was
beginning an extended drought,” the older Casey, now 95, told Big
Country Ag in 2014.
The elder Casey survived the 1950s drought in part by burning
prickly pear cactus every day to use as feed for his cattle. (The
younger Casey did the same during a dry spell in the early 2000s
and again during the 2010-2015 drought, which officially ended
with torrential rains in May and June).
Droughts are always hard on the animals and the range, but in
Shackelford County, a lack of rainfall is doubly difficult because
much of the groundwater is too salty to use. The Phin Reynolds
Ranch relies exclusively on rainwater to fill more than 70 stock
tanks.
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MULTI-GENERATIONAL RANCHING
continued from page one
The Casey operation breeds and sells Beefmaster cattle for genetics.
The breed is a three-way cross between Brahman, Hereford and
Shorthorn cattle that the elder Casey's brother-in-law Tom Lasater
developed and bred for six essential traits—fertility, hardiness,
weight, conformation, milk production and disposition. It took
decades to develop their Beefmaster genetic line—so selling off part
of the herd was a difficult decision. Casey trucked in water and fed
the cattle, but ultimately sold 15 percent of the herd last year and
another 10 percent this year despite the recent rains.
"As Dad said last year, it would be better if we could get everything
off the ranch," says Casey, "but our cattle are hard to duplicate."
After the early summer rains, the range on the Phin Reynolds pasture
is green and the stock tanks are full. For the second time in a
century, the Casey family has survived a legendary Texas drought.
"We're very fortunate the cattle market is very good," says Casey. "We
hope the drought is over—for now."
The fact that the drought has broken for parts of the Southwest is
of little comfort to Joe Clavel, whose family has owned ranch land
in northern New Mexico since the Great Depression. After abundant
rains in May, the briefly green range withered during bone-dry June
and July.
"The greatest challenge we face right now is drought," Clavel says.
"It's raining all over New Mexico, but we're not getting a drop on our
place. And this is pretty normal."
The Clavel family's Twin Creek Ranch sits on a mesa between two
large canyons about 25 miles northeast of Roy, N.M. All summer
while weathermen talked about the end of the drought, Clavel
watched promising rain clouds split and go down both sides of the
mesa, leaving his land dry in the middle.
"Nobody can do anything about bad weather, but it gets a little
disheartening," Clavel says.
Clavel's grandfather, a French immigrant who went to work for the
railroad in the 1920s, began buying New Mexico land during the
Great Depression when distressed ranchers were selling out for
pennies on the dollar. Clavel's grandfather chose well. The Twin
Creek Ranch has diverse terrain—rough country and flat country with
two large creeks and good ground water.
"My grandfather was never a cow man, but he
was an astute businessman and he bought land
whenever and wherever he could," Clavel says.
Clavel's father and uncle, both of whom are still living, continued
operating as Clavel Brothers, adding land when it became available.
During the great drought of the 1950’s, they expanded into South
Dakota, buying a ranch there. On the advice of his father and uncle,
Clavel, then just out of college also bought a nearby ranch which he
still owns and operates. Clavel and his wife live on the Twin Creek
Ranch with their son, his young family, and Clavel’s 92 year old
father. Two grown daughters live close enough they are able to come
back to the ranch with their families to help with branding, weaning,
and other cattle work.
To cope with the extreme drought of recent years, Clavel reduced
the commercial herd and increased production of purebred Hereford
bulls to meet a growing demand. And so far, that's working for the
family.
"Droughts are part of it," says Clavel. "We're used to it, and we accept
it, but we don't have to like it. We always think next year is going to
be better."
KEEPING THE FAMILY RANCH IN THE FAMILY
For many multigenerational ranch families, the greatest challenge
they face is simply – or not so simply – passing the ranch on to the
next generation.
After the early summer rains, the range on the Phin
Reynolds pasture is green and the stock tanks are
full. For the second time in a century, the Casey
family has survived a legendary Texas drought.
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FROM OUR CORNER
"My parents and grandparents were very
generous. They had a love of the land. If they had
been all about themselves and getting what they
could for themselves, this ranch would never
have made it to the next generation," says Davis.
Chris Abbott is the fifth generation to ranch
in the Sand Hills of Nebraska. He and his
family own the Abbott Cattle Co., north
of Hyannis, NE. With three sisters and a
brother and children and grandchildren, he's
considering the possibilities for the sixth and
seventh generations.
"The generations come and go and the
ranches get diluted with more and more
family," says Abbott. "There is going to be a
time that we'll have to split the ranch up."
Abbott's grandfather put together a lot of
land, some of which had to be sold. Abbott's
father warned him: Don't get married to
a ranch because sooner or later it may be
passed on or split up within the family.
Abbott didn't follow that advice.
"I'm pretty much married to the ranch," says
Abbott. "All the trees I've planted on it. All
the blood, sweat and tears that's gone into
it."
His father's advice – which Abbott
acknowledges is some of the best he ever
got –spurred him to look for ways to stay in
ranching when the day comes to sell or divide
up the land. His answer has been to husband
resources, work efficiently and buy more land
as it has become available, so that if some
family members do want to sell, those who
want to continue to ranch will have enough
land to do so.
"We've added to the ranch that my father
had and my thoughts are that when the time
comes, we can lease with an option to buy
another ranch to make the transition from
the fifth to the sixth generation," says Abbott.
"That would be a win-win for everybody, but
we have to be financially sound to do it."
Kirk Davis's family has owned the CS Ranch
near Cimarron, New Mexico, since 1873.
His great-grandfather, an Iowa attorney,
came west to help a friend and ultimately
acquired land from two Spanish land grants
to found the ranch. Davis's father bought out
his three brothers and cousins to consolidate
ownership of the ranch for his immediate
family, which now includes Davis, his three
brothers and two sisters and their young
families.
FALL 2015
"The challenge I see facing family ranches
is that land values have gone up and up and
up," says Davis. "If people want money – and
a whole lot of it – it's tough to keep the ranch
together."
"I suppose the biggest challenge was the
mental challenge to keep myself from going
into depression and to focus on being able
to continue the operation," Voldseth says. "I
guess I'm just too hard-headed not to do it."
Davis and his siblings had the example of
their parents and grandparents who schooled
them to be generous with each other.
Plus, as he well knew, the accident didn't
just happen to him but to his whole family.
He had a wife and three young children, ages
8, 10 and 12 at the time.
"You have to get along," Davis said. "That's
probably the second biggest challenge. If
you're fighting over everything, it's not worth
keeping it together. We've been lucky. We do
get along."
Davis and his siblings restructured the
operation into a landholding company,
of which Kirk Davis is president, and an
operating company, which deals with the dayto-day cattle and agricultural business.
"There are only so many people the
operations will support," says Davis. "And
the next generation will have four distinct
families. What happens next will be up to
them."
He's mindful of families who weren't able to
get along – and in their fights over land, lost
everything.
"My parents and grandparents were very
generous. They had a love of the land. If
they had been all about themselves and
getting what they could for themselves, this
ranch would never have made it to the next
generation," says Davis. "They taught us that
it's not about what I want. You try to balance
everything to keep it as a family operation."
OVERCOMING A DEVASTATING LOSS
For David Voldseth, a fourth-generation
rancher from Martinsdale, Montana, the
greatest challenge was deeply personal.
Thirty years ago, while he was loading a
semi-trailer truck, a hay bale suddenly rolled
and fell directly on top of him, crushing
his spine at the T-9 vertebra. The truck
driver working with him radioed ranch
headquarters for help, and his wife, who had
just been certified as an emergency medical
technician, rushed him to the hospital where
he spent a few months learning, as he puts
it, "to live again."
"It was a question of how do
you keep the family going, how
do you keep the ranch going
and I was really focused on
that," says Voldseth. "A lot of
people told me that it was crazy,
that there was no way, and that
just made me try even harder."
With a lot of help from his family, including
an uncle who was a mainstay after his
parents died, Voldseth continued to do most
of what he had done before, using hand
controls to operate ATVs and side-by-sides,
digging post holes with a back hoe and
transitioning from the labor side of ranching
to the management side. He still gets out
almost every day to move cattle or check on
water lines. He and his wife also own and
operate the Bonanza Creek Country Guest
Ranch, which they opened 21 years ago.
His son has joined him in ranching and lives
on the place with his wife and three children.
"It didn't turn out so badly," says Voldseth.
"I'm still doing what I love to do."
DEBBIE PRICE
OFFICE: 937.331.8123
CELL: 937.430.7779
[email protected]
INSIDE THIS ISSUE
Multi-Generational Ranching
1 - 3
Market Overview 4 - 11
He was 37 years old and very lucky to be
alive. But he would never walk again.
Hall and Hall News
Voldseth came home and against all odds
continued to ranch.
Finance | Appraisals | Management
11 - 12
Auction News
Market Report
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MARKET OVERVIEW
EXCLUSIVE INVENTORY
ALABAMA
MUDD CREEK RANCH — FACKLER
290± acre farm in northeast Alabama near Scottsboro. 14± acre trophy
bass lake. One mile of Mud Creek. Great waterfowl hunting potential.
Excellent hunting and terrain diversity. Small cabin. Great location.
$1,000,000
ARIZONA
MISSION OAKS RANCH — SONOITA
Private 2,154± deeded acre ranch in Arizona’s San Rafael Valley virtually
surrounded by high mountains and the Coronado National Forest. Only 32
miles southeast of Sonoita, it offers a full complement of well-maintained
classic adobe-style personal and ranch improvements. $5,500,000
CHILE
ESTANCIA VALLE DORADO — COYHAIQUE, PATAGONIA
One of the world’s exceptional fishing ranches 20 miles from Coyhaique
featuring comfortable accommodations on 11,125± acres with 13 miles
of 3 diverse streams including a spring creek with 30” class trout.
$17,000,000
FUNDO PETROHUÉ — PUERTO VARAS, PATAGONIA
An hour from the Puerto Montt airport, Fundo Petrohué adjoins a national
park and encompasses 3,575± stunning acres with nearly nine miles of
frontage on the trout-rich Petrohué River. $5,000,000
COLORADO
BIG MOUNTAIN RANCH — MEEKER
SOUTH MILL RANCH — TUBAC
18 paved miles east of Tubac, 1,224± deeded acres - private end-of-the
road ranch retreat nestled into its own valley between mountain ranges
with 10,000± ft2 of beautiful adobe style improvements. $8,000,000
AZ Broker: Shenkarow Realty Advisors, Inc.
An exceptional sporting paradise, this 3,549± deeded acre ranch features
trophy big game hunting, extensive trails, trout fishing, rifle range, sporting
clays and a full suite of modern custom built improvements. Reduced to
$12,500,000
CORRAL CREEK RANCH — EVERGREEN
CALIFORNIA
CALIENTE RANCH — TWIN OAKS
The sprawling Caliente Ranch comprises 7,300± acres along the eastern
edge of Walker Basin in Kern County. This is a beautiful hunting and
recreational ranch with endless potential to enhance wildlife habitat.
Reduced to $2,736,000
CALIFORNIA FLY FISHING CLUB — MAMMOTH LAKES
This privately owned fishing ranch is located in the Eastern Sierras with 8
miles of trout stream on 2,000± acres and only 25 members. Membership
includes the right to build one cabin. $700,000
LOS ROBLES RANCH — SAN DIEGO
With a main home styled after the estancias of Argentina, this 720± acre ranch’s
amenities include a 19-stall barn, dressage riding arena, multiple homes, skeet
range, Go-kart track, fishing ponds, and a “pool pond.” $17,500,000
CANADA
YORK LODGE AT DELTA MARSH — PORTAGE LA PRAIRIE, MB
Legacy waterfowl property encompassing 3,600± acres of the famous
Delta Marsh 70 miles northwest of Winnipeg. Huge variety of waterfowl.
Renowned canvasback hunting. Excellent deer hunting. Rich history
including the vintage York Lodge. $7,500,000 USD
Located 10.5 miles west of Evergreen, this ranch offers 290± deeded
acres and features an historic 9,940± sq. ft. lodge. A mixture of open
meadows and heavily timbered areas with stunning views of Mount Evans.
$4,250,000
COTTONWOOD SPRINGS RANCH — DURANGO
525± acre equestrian estate, featuring a 5,700± sq. ft. home, 20,000 sq.
ft. horse barn. Property is a mixture of heavily treed areas interspersed
with irrigated and sub-irrigated land. Minutes from Durango. Reduced to
$7,750,000
ELK RIVER RANCH — STEAMBOAT SPRINGS
In the heart of the pastoral Elk River Valley, this 801± acre ranch features
panoramic views of the surrounding mountains, superb accommodations,
irrigated meadows and trophy trout fishing. Co-listed with Pam Vanatta.
Reduced to $22,000,000
ELK RIVER RANCH HOMESTEAD — STEAMBOAT SPRINGS
Encompassing the original headquarters of the renowned Elk River Ranch,
this 245± acre property features an excellent stretch of the river, irrigated
meadows and the beautiful improvements of the historic ranch compound.
$ 9,800,000
HUSTON RANCH — WALDEN
Comprised of 5,600± total acres (1,471± deeded), the irrigated meadows
and expansive pasture of this operating ranch are complimented by hunting
and fishing resources along Owl Creek and the Michigan River. $2,480,000
JACKSON CREEK RANCH — PAGOSA SPRINGS
133± acres featuring Echo Lake State Park frontage and spectacular views.
Irrigated hay meadows and pasture within 5 miles of Pagosa Springs. Colisted w/ Roger Horton, Dutton Creek Realty. Reduced to $1,295,000
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FALL 2015
KESSLER CANYON — GARFIELD COUNTY
SKY RIVER RANCH — STEAMBOAT SPRINGS
LOST ELK RANCH - 4F UNIT — STEAMBOAT SPRINGS
SLATE CREEK RANCH — STEAMBOAT SPRINGS
An exquisite blend of nature and luxury, this 15,000± acre ranch features
big game and upland bird hunting with impeccable accommodations in a
very scenic setting. Reduced to $32,500,000
Situated at the confluence of Beaver Creek and Morrison Creek, this 665±
acre ranch features a beautiful mountain setting, excellent wildlife habitat,
aspens, meadows and a lake teeming with trout. Reduced to $6,950,000
LOST ELK RANCH - J BAR UNIT
—
STEAMBOAT SPRINGS
This picturesque Colorado high country ranch is nearly surrounded by
national forest and features 1,378± acres (738± acres deeded) with
excellent wildlife habitat, gentle topography, creek, ponds and recently
constructed luxury home. Reduced to $9,950,000
MOSCA PASS RANCH — GARDNER
5,056± acre holding located 15 miles west of Gardner, Colorado. Adjacent
to national forest lands, this ranch combines big peak views and quality
rangeland with good water resources and excellent hunting. $7,500,000
OAK MEADOWS WILDLIFE RANCH — MEEKER
Located in the pastoral Morapos Creek Valley between Meeker and Craig,
this 1,690± acre ranch features excellent mule deer and elk habitat with a
mix of grassy meadows and oak hillsides. $ 2,500,000
OLSEN PINEY RANCH — WOLCOTT
Tucked away in the secluded Piney River valley just north of Vail and Beaver
Creek, this historic 2,715± acre ranch is very private yet easily accessible
and features outstanding fishing, wildlife and scenery. $18,000,000
OWEN-SKILES SUNNYSIDE RANCH — BURNS
Highlighted by a scenic setting beneath the highest peaks of the Flat
Tops Mountains, this 800± acre retreat is adjacent to national forest and
located between Steamboat and the Vail Valley. Reduced to $2,000,000
RED ROCK ELK RANCH — LYONS
Encompassing a secluded valley 22 miles north of Boulder, Colorado, this
scenic 636± acre mountain property is complemented by a beautiful log
residence, excellent hunting and proximity to Denver. $5,400,000
ROCKING R RANCH — LYONS
20 minutes from Boulder, the Rocking R Ranch is a preeminent equestrian
property. Offering 235± acres, irrigated meadows, water rights and
extensive improvements including a 36,400± sq. ft. indoor arena. Reduced
to $12,900,000
ROLLING T RANCH — FORT MORGAN
Productive ranch and dryland farm eight miles north of Ft. Morgan. Rolling
T is 9,842± acres with over 7,500± acres of native range, 1,424± acres dry
cropland, and 999± acres of CRP. $6,840,190
SAND MOUNTAIN RETREAT — STEAMBOAT SPRINGS
Encompassing a secluded mountain valley at the base of Sand Mountain,
this picturesque 160± acre retreat is nearly surrounded by national forest
yet located less than 30 miles from Steamboat. $1,400,000
Crowned by an exceptional custom home perched on a bluff overlooking the
valley, this beautiful 797± acre ranch features both sides of the Elk River,
Deep Creek, irrigated hay meadows and rolling hills. $10,950,000
This private and pristine 1,145± acre landmark ranch boasts an
unparalleled combination of stunning scenery, water rights, abundant
wildlife, public land adjacency, ponds and attractive improvements.
Reduced to $19,900,000
SNOWY MOUNTAIN RANCH — STEAMBOAT SPRINGS
Ideally positioned to capture the majestic setting overlooking Steamboat
Lake and the surrounding peaks, this beautiful 210± acre ranch features
masterfully crafted custom improvements, creek, aspens forests and
mountain meadows. $9,800,000
TABLE ROCK RANCH — MCCOY
The extraordinary water, scenery and privacy of this 785± acre fishing
property are complemented by exceptional accommodations and a
convenient location within easy reach of Vail Valley amenities and airport.
$18,500,000
TARRYALL MEADOWS RANCH — FAIRPLAY
Just 45 minutes from Breckenridge, this 240± acre mountain ranch
features 1.75 miles of trout fishing on Tarryall Creek in a stunning setting
at the base of the Continental Divide. Reduced to $995,000
TARRYALL NOTCH RANCH — FAIRPLAY
Located just 45 minutes from Breckenridge Ski Resort, this scenic 830±
acre high mountain ranch features 1.3± miles of trout-filled Tarryall Creek
set against the peaks of the Continental Divide. Reduced to $1,300,000
THUNDER RIDGE RANCH — DURANGO
Thunder Ridge features a beautiful private valley with a meticulously
crafted modern log home consisting of eight guest rooms, owner’s suite
and numerous amenities. North of Durango, CO. $3,950,000
WEBEL RANCH — HOT SULPHUR SPRINGS
Located minutes from Hot Sulphur Springs, CO, the Webel ranch offers
569± deeded acres adjacent to national forest. Open meadows, heavily
treed areas, functional improvements, and water rights. $2,555,987
WYATT RANCHES - MORAPOS CREEK DIVISION — MEEKER
Sharing 5 miles of boundary with the national forest along the Flat Tops,
this diverse 2,784± acre ranch is known for its big game hunting but also
features trout streams, privacy, scenery and a lodge. $6,950,000
WYATT RANCHES - WHITE RIVER DIVSION — MEEKER
Spanning over 18 miles of the White River, this established working ranch
supports a 1,000 head cattle operation with productive hay meadows
and expansive pasture on 11,870± deeded and 137,000± total acres.
$9,500,000
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MARKET OVERVIEW
EXCLUSIVE INVENTORY
GEORGIA
CEDAR SPRINGS FARM — CHICKAMAUGA
575± acres in Georgia’s most scenic area, McLemore Cove. Abuts 20,000±
acre Pigeon Mountain WMA. 35 minutes south of Chattanooga. Gorgeous
vistas. Endless recreational opportunities. First time on market in 43 years.
$2,050,000
WILLOW OAK RANCH — MADISON
Only an hour east of Atlanta, this 1,216± acre legacy property features two
charming southern houses, four lakes, and virtually an unlimited amount
of outdoor recreation. Impeccably cared for, this is a premier family and
corporate retreat. $11,500,000
IDAHO
ALDER CREEK RANCH — MACKAY
Spectacular 817± acre ranch occupying its own mountain valley and
featuring first-class improvements, a trout stream, irrigated cropland,
big mountain views, and national forest boundary. 60 miles to Sun Valley.
$2,900,000
BIG SPRINGS CREEK RANCH — MAY
With 6± miles of streams, these 1,395± acres represent one of the most
important wildlife properties in central Idaho. Home to salmon, steelhead,
resident trout, waterfowl, pheasants, and diverse big game. Two hours from
Sun Valley. Reduced to $2,250,000
Located between Lewiston and Moscow, this diverse 720± acre property
features timbered hillsides, cropland, meadows, springs, ponds, and Little
Potlatch Creek. In the same family for over 60 years. $995,000
EE DA HO RANCH — SUN VALLEY
Just ten minutes from Sun Valley’s airport, this stunning 1,550± acre ranch
encompasses its own valley and boasts an attractive owner’s residence,
horse facilities, and a spring creek system feeding several trout-filled
lakes. Reduced to $11,950,000
GWIN SPRINGS RANCH — GOODING
Encompassing its own red rock canyon one hour from Sun Valley’s airport,
this 560± acre ranch is surrounded by federal lands and features impeccable
improvements, spring-fed ponds, a hay operation, diverse wildlife, and
complete privacy. $2,500,000
LITTLE WOOD HEADWATERS RANCH — SUN VALLEY
Less than 20 miles to the airport, these 3,060± acres are easily accessible
to the amenities of Sun Valley. The ranch adjoins national forest and
features nearly four miles of a trout stream and private access to the Little
Wood River. Reduced to $1,680,000
This 731± acre “inholding” ranch is completely private and surrounded by
public lands 35 miles northeast of Sun Valley with direct access to some of
the state’s best big game hunting. Includes irrigated pasture and a BLM
permit. $2,300,000
page 6
503± acre ranch with 140± acres of irrigated cropland and 2 attractively
furnished fishing cabins on one of the best reaches of the Big Lost River 60
miles from Sun Valley. $2,500,000
ROBINSON BAR RANCH — STANLEY
Defined by an amazing hot springs complex, this 128± acre national forest
inholding perched above the Salmon River is the 32-year residence of singer
Carole King. Extremely private with excellent improvements. $9,900,000
ROCKING M RANCH — WEISER
Lakefront ranch on the south end of Hells Canyon totalling 35,000±
acres with 17,900± acres of deeded land. Features a 6,000± sq. ft.
lodge with boat dock along Brownlee Reservoir. 1.5 hours from Boise.
$4,000,000
SUMMIT SPRINGS RANCH — CLYDE
3,785± acres bordering national forest and featuring a custom-built fishing
cabin and two miles of a trout-filled spring creek. Located approximately
two hours from Sun Valley and Idaho Falls. Reduced to $1,900,000
SUSIE Q RANCH — SUN VALLEY
The 537± acre Susie Q Ranch, 40 minutes from Ketchum, is one of Sun Valley’s
premier fishing properties. The ranch features tasteful improvements, lush
pastures, and nearly two miles of world-renowned Silver Creek. $12,500,000
ILLINOIS
RIVER BEND FARM — RAMSEY
CANYON RANCH — GENESEE
LOST PEAKS RANCH — CHILLY
MOOSE CREEK RANCH — MACKAY
World-class waterfowl property located in the Kaskaskia River bottoms of
south-central Illinois 75 miles from St. Louis. 1,002± acres of phenomenal
wildlife habitat. Trophy deer and wild pheasant. 816± acres in WRP. Great
log cabin. $4,700,000
KANSAS
WILSON RANCH — EL DORADO
Located 30 miles northeast of Wichita, this 6,459± acre Flint Hills ranch
is in excellent condition. All contiguous, 4 large watershed lakes, good
fences, gently rolling open hills. Ready for the upcoming grazing season.
$13,563,480
MEXICO
RANCHOS SIERRA DEL NIDO — CHIHUAHUA
Ranchos Sierra del Nido is comprised of 53,293± acres of unique high
mountain ranchland in central Chihuahua, Mexico, climbing to peaks over
10,000’ and overlooking high rangeland mesas and steep timbered valleys
below. $14,000,000
MONTANA
3 HANGING 3 RANCH — TWIN BRIDGES
North of Dillon, this 775± acre ranch has 293± irrigated acres and 1 mile
of Beaverhead River frontage. Custom built log ranch compound, top-shelf
equestrian facility and outstanding waterfowl, pheasants and whitetail
habitat. Reduced to $4,950,000
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3K RANCH — GREAT FALLS
Located along two miles of the Smith River 30 miles from Great Falls, this
6,500± acre unimproved ranch rises from the river to encompass rock walls,
timbered slopes and lush grassy basins. $6,200,000
61 BAR RANCH — STEVENSVILLE
A 260 cow operation on 408± acres in the heart of the Bitterroot. 1,860
priority water rights, remodeled 100-year old farm house, historic barn and
a full set of ranch improvements. $4,000,000
ALICE BASIN — LINCOLN
Alice Basin includes 640± acres with stunning views adjacent to a
massive block of public land. Consisting of rolling hills, timber, meadows
and wetlands, the ranch attracts large populations of wildlife. $1,350,000
ANTELOPE BUTTE RANCH — BIG TIMBER
1,260± acres west of Big Timber. Spectacular views from two customdesigned homes including a main residence and guest house. A small
Fall grazing operation, deer, antelope and the occasional elk. Reduced to
$1,825,000
ASPEN MEADOWS RANCH — FISHTAIL
Aspen Meadows Ranch is a 245± acre unimproved ranch on the East
Rosebud River. Only 60 minutes from Billings and minutes south of
Absarokee the ranch has wildlife, views and privacy. Reduced to $1,950,000
BIG BLACKFOOT RIVER RANCH — OVANDO
612± acre retreat, 1.5 mi. riverfront, trophy architecture, outstanding
privacy and extraordinary wildlife. Home, club house, river pavilion and
restored historic barn make this the most significant offering available on
the river. Reduced to $11,500,000
BIG CREEK CANYON — VICTOR
End-of-the-road privacy in the heart of the Bitterroot. New, 5,800+ sq. ft.
luxury timber frame home, guest house and shop/barn. USFS borders and
live water views from every room. $2,750,000
BLUE PINES HAY RANCH — EDGAR
Located on the east bank of the Clarks Fork River, the Blue Pines Hay Ranch
is approximately 278 acres. Near the town of Edgar, the fertile bottom is
great habitat for whitetail deer, waterfowl and pheasant. $1,000,000
BOULDER RIVER CONFLUENCE — BIG TIMBER
113± acres fronting the Main Boulder River offering premium trout
fishing. Great mountain views with nearby access into the wilderness and
Yellowstone Park. Appointed with a 2,800± SF custom home and horse
barn. $2,800,000
BRIDGER PEAKS RANCH — SEDAN
Pristine mountain valley 161± acres with perennial streams, expansive
views and private building sites just 25 miles from Bozeman, 11 miles to
Bridger Bowl Ski Resort and 2 miles to National Forest. $1,285,000
BUFFALO TRAIL RANCH — OVANDO
550± acre premium recreational retreat in the heart of the Blackfoot River
Valley. Nearly two miles of riverfront with rare riverfront home, excellent
privacy and extraordinary wildlife amidst Western Montana’s best fishing.
Reduced to $5,750,000
BYRAM BITTERROOT RANCH — VICTOR
A prime 196± acre Bitterroot Valley retreat with elevated eastside location
and stunning views. Good water rights, abundant hay production and a
historic apple orchard. Includes a 2 bedroom, 1 bath home guest house.
Reduced to $1,550,000
CLARK FORK RANCH — BEARMOUTH
1,559± acres with Clark Fork frontage, oxbow lakes harboring large trout,
USFS/State land borders, only 30 minutes east of Missoula. The property
has a manager's residence, a barn and newer working corrals. $3,200,000
CROWN CREEK RANCH — RED LODGE
The 260± acre ranch is a private creek front ranch offering solid
improvements, outstanding wildlife habitat, trout fishing and productive
farm ground along with an extremely convenient location near Red Lodge,
Montana. Reduced to $2,490,000
DAISY DEAN RANCH — MARTINSDALE
1,652± acres bordering national forest in the Little Belt Mountains. 14
miles from Martinsdale and 90 minutes from Bozeman. Three miles of
creeks and a 3,600± sq. ft. four bedroom home. Reduced to $2,900,000
EAST FORK ROCK CREEK RANCH — PHILIPSBURG
This 2,460± acre ranch shares a 4-mile boundary with public lands. Two
creeks flow through. Includes a caretaker home, shop, and garage. A large
elk herd roams the open range and timber. $5,500,000
EAST GALLATIN SPRING CREEK RANCH — BELGRADE
Sportsman’s paradise on the East Gallatin River, just 10 minutes from
Bozeman, MT. Architecturally designed residence, barn and trout pond
on 373± acres with 4 spring creeks, wetland complex and habitat
enhancements. $10,500,000
EAST GALLATIN SPRING CREEK ACREAGE — BELGRADE
Spring creek and wildlife enhancements on these 285± acres along the
East Gallatin River offer unparalleled sporting opportunities for pheasant,
waterfowl, whitetail deer and trout fishing. Superb home sites, just minutes
from Bozeman, MT. $5,263,000
ELK CREEK RANCH — BOZEMAN
This very scenic 1,167± acre ranch along Elk Creek offers a highly
productive agricultural base in the mountain foothills just a 20± minute
drive west of downtown Bozeman, Montana. $4,600,000
ELK PEAK RANCH — WHITE SULPHUR SPRINGS
Mountain ranch near White Sulphur Springs, contiguous to USFS and
comprised of 2,764± deeded acres with a small creek. Offering excellent
vistas, newly constructed cabin, elk and other abundant wildlife.
$4,875,500
FALLS CREEK RANCH — LIVINGSTON
4,500± acres under 11,000 ft. mountain peaks. 40 minutes northeast of
Livingston. An opportunity to own a private partially timbered valley with
live creek and two rustic cabins. Great elk hunting. $11,500,000
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MARKET OVERVIEW
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FOSTER RANCH — LIVINGSTON
A 4,409± acre ranch five miles north of Livingston in rolling foothills
overlooking the Yellowstone River with outstanding views of three mountain
ranges. Elevated range lands, excellent seasonal grazing and complete
privacy. $6,750,000
G BAR T RANCH — TOWNSEND
Located 15 miles north of Townsend overlooking Canyon Ferry Reservoir,
9,000± total acres (5000+ deeded) of meadows and timbered foothills
adjacent to national forest - nicely improved major elk hunting ranch.
$11,000,000
HAMMOND RANCH — FISHTAIL
Located minutes from Fishtail on Fishtail Creek, this modestly improved and
highly productive 672± acre homestead ranch tucked under the towering
Beartooth Front will run over 100 cows under intensive management.
$2,250,000
HOLLAND PEAK RETREAT — CONDON
Featured in Log Home Living, this 4,750± sq. ft. rustic but elegant log
home is nestled among the trees on 90± acres of Montana’s Swan Valley.
Includes guest cabin and more. Reduced to $1,825,000
HORSE CREEK RANCH — WILSALL
Located 7 miles west of Wilsall on two mountain streams, a custom
2672± sq. ft. home of reclaimed materials anchors a mix of meadows and
mountain country with big views of craggy peaks. $4,700,000
HORSE PRAIRIE RANCH — DILLON
30,000± acre (7,707± Deeded) 750 AU mountain ranch SW of Dillon at the
end of the road dominating a private valley adjacent to USFS with guest
facilities and excellent working improvements. $11,950,000
IX RANCH — BIG SANDY
REPUTATION RANCH IN REPUTATION COUNTRY - 126,000± acres (59,809±
deeded) - 9,000± are tillable. From Big Sandy eastward 30 miles; carries
3,600± cows plus elk, deer, antelope, upland birds. Turnkey $64.5M. This
is not an offer to sell or a solicitation of any offer to buy any securities.
Offers are made only by the authorized offering materials. To obtain further
information, you must complete an investor questionnaire and meet the
suitability standards required by law. For more information, please contact
David Johnson, broker, at (406) 587-3090 or [email protected].
KNOB & KETTLE RANCH — OVANDO
1,185± acres at the “end of the road” with 9/10 mile of Blackfoot River
frontage. The home and other improvements are tastefully designed
to blend with the landscape amidst lush, irrigated meadows. Wildlife
abounds. Borders public lands. $10,500,000
LAMBRECHT CREEK RANCH — WISE RIVER
This 159± acre deeded in-holding surrounded by national forest offers
a uniquely pristine setting and meandering trout stream with reclaimed,
historic cabins and newly constructed log lodge near Wise River, Montana.
Reduced to $3,500,000
LAZY E BAR Z RANCH — CONDON
The snowcapped peaks of the Mission and Swan mountain ranges flank the
Swan River as it flows through this 165± acre property with two log homes
situated next to a trout pond. $3,100,000
MADISON RIVER RANCH — ENNIS
A 2,460± acre ranch (1,500± deeded) lies along 2.5± miles of the Madison
River with extensive riparian area featuring good water rights, springs,
sloughs and ponds. Improvements are modest. $5,650,000
MEADE CREEK RANCH — DEER LODGE
4,500± acres with astounding views of the Flint Creek Mountains and
impressive elk populations. The five bedroom, custom Log Home overlooks
the range one hour from Missoula. $5,900,000
MEDICINE LODGE MOUNTAIN CABIN — DELL
Nestled along a mountain stream below the Continental Divide and
Montana and Idaho’s Bitterroot Range, this tasteful log cabin on 680±
acres is surrounded on three sides by public lands. $1,250,000
MILL CREEK SANCTUARY — LIVINGSTON
Lovely wooded 54.52± acre retreat with luxurious 7,228± sq ft
architecturally designed residence along trout-rich Mill Creek in the heart
of the Paradise Valley, with an artfully designed pond and commanding
mountain views. $4,950,000
MONTANA FISHING RETREAT — CLINTON
Premium fishing creek with two ponds, 3,200+ sq. ft. home, National
Forest boundaries, 3/4 mile of Ranch Creek, tributary to Rock Creek. Private
meadow, timber, mountain views, extreme privacy. Outstanding hunting.
Reduced to $1,400,000
MONTANA MOUNTAIN VIEW RANCH — OVANDO
This 669± acre property was used as an outfitting base for the Bob Marshall
and Scapegoat Wilderness areas. Spectacular scenery, three residences
and complete outfitting and horse management facilities. $1,700,000
PEREGRINE RANCH — LAKEVIEW
Located 30 miles west of West Yellowstone, this easily accessible ranch is
virtually surrounded by Federal lands and boasts a totally remodeled Jonathan
Foote house and guest house plus classic log outbuildings. $4,200,000
PN RANCH — WINIFRED
48,602± acres (17,012± deeded) along 14 miles of the Missouri, and nine
miles of the Judith River. Balanced operation plus deer, elk, antelope,
big horn sheep, upland birds. Offered “turnkey” including cattle and
equipment. $18,000,000
PRAIRIE CREEK RANCH — GLASGOW
20,057± total acre (11,649± deeded) cattle ranch, 20 miles north of
Glasgow. 4,000± acres cropland convertible to improved pasture and hay
to carry 945 AU. Home, shop, corrals. $9,500,000
RAMSHEAD RANCH — ST. IGNATIUS
These 203± acres in Western Montana's Mission Valley are the pedestal for
this 4,000± sq. ft. log home featuring dramatic views of the snow-capped
peaks of the Mission Mountains. Reduced to $2,650,000
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FROM OUR CORNER
FALL 2015
RAMSHORN RANCH — MCALLISTER
Located just north of Ennis, this 152± acre ranch combines a comfortable
log-sided home and outbuildings with 50± acres of meadows adjoining
timbered foothills in an awe-inspiring setting. $1,900,000
RANCH OF RAINBOWS — GARRISON
3,107± acres off Interstate 90 near Garrison. Includes Clark Fork and Warm
Springs Creek water rights on 234± irrigable acres. Additional state lease on
800± acres. Two sets of corrals and storage shed. Reduced to $2,275,000
ROCK CREEK FISHING RANCH — PHILIPSBURG
This 99± acre property fronts on Montana’s famous Rock Creek. Forest
service borders the property and a tastefully remodeled (2005) antique
log home with year-round access sits at the edge of a large streamside
meadow. Private bridge access. $1,100,000
ROCKING FOUR A — STEVENSVILLE
SWEET GRASS CREEK RANCH — BIG TIMBER
Productive 326± acre sporting ranch with strong agricultural attributes
along Sweet Grass Creek. Excellent water rights, stream fishery, trout
pond with two homes and reclaimed homestead cabin near Big Timber.
$1,390,000
THE FARM AT MCCAULEY BUTTE — MISSOULA
Best of both worlds with architecturally significant home by CutlerAnderson and unique exurban location. Fifteen minutes to downtown
Missoula, 1.25 miles Bitterroot River frontage, protected viewshed and
outstanding wildlife. $6,500,000
THOFT RANCH — STEVENSVILLE
These 2,411± deeded acres located in the Sapphire Range overlook the
Bitterroots and are 95% timbered. South Burnt Fork Creek flows through.
USFS Boundaries and a State Lease section. $5,500,000
National forest borders on 1,027± acres in Bitterroot. Water rights, creeks,
wetlands and trout pond create a wildlife haven filled with elk, whitetail
and turkey. New barn/shop complex and 2,200 sq. ft. owner’s quarters are
ready to go. $8,800,000
TIMBER CREEK RANCH — ALDER
ROCKING JY RANCH — BRIDGER
TROLLHAUGEN – STEIN ERIKSEN’S MONTANA RETREAT —
CAMERON
Located just minutes south of Bridger, MT, this well-blocked ranch has
300± irrigated acres and over 700 acres of native range. The improvements,
which include a main residence and guest house, are all in excellent
condition. $2,800,000
SHANE RIDGE PRESERVE — JOLIET
This 1,334± acre unimproved ranch is less than 45 min. from Billings, MT
and has views of four major mountain ranges. Good grass and timbered
ridges are home to deer and elk. Reduced to $1,490,000
SHIELDS RIVER FARMSTEAD — WILSALL
A scenic 144± acre retreat along the upper Shields River with excellent
trout fishing, 120± acres of irrigated hay meadows, barn and pond in a
majestic setting near the Crazy Mountains. $1,350,000
South of Alder within the national forest, featuring comfortable and
attractive improvements. Two+ miles of both sides of the Ruby River and
immediate access to user-friendly mountain country. $9,500,000
Stein Eriksen’s Montana retreat for 35 years north of Yellowstone Park
features a 4,800 ft2 log home, guest house, exceptional flyfishing and
staggering views of the craggy peaks of two mountain ranges. $2,450,000
VALLEY OF THE MOON — MISSOULA
This end of the road privately owned valley surrounded by public
lands includes 1,396± acres with extensive frontage on two fisheries.
Improvements designed by Emilio Ambasz. Total seclusion 40 minutes to
airport. Reduced to $9,500,000
WELCOME CREEK RANCH — MISSOULA
Welcome Creek Ranch includes almost 130 acres with approximately 3,000
feet of Rock Creek frontage and a timber frame home with guest house.
Missoula is only 35 minutes away. $1,950,000
SILVER KING RANCH — LINCOLN
This 2,079± acre holding has a private 20-acre lake and historic
buildings. The Landers Fork of the Blackfoot River flows through for
three miles. This end-of-the-road property borders a vast expanse of
national forest. $3,500,000
SKALKAHO CREEK RANCH — HAMILTON
8,670± sq. ft. log home perched above a trout-filled creek on 1,134± acres.
Irrigated meadows and open range filled with native grass/wildflowers
plus manager's home, barn and outdoor riding arena. Equestrian's dream!
Reduced to $5,650,000
SULA PEAK RANCH LLC — DARBY
This iconic 2,848± acre working ranch with extraordinary recreational
amenities includes a 17,000± acre grazing permit. A flourishing elk
population and a river flowing through make this a very special holding.
$13,500,000
NEW MEXICO
LOBO RANCH — LAGUNA
Just over an hour’s drive west of Albuquerque, NM, the Lobo Ranch spans
over 70± square miles offering 46,485± deeded acres and is contiguous to
the Marquez Wildlife Area. $25,575,000
NEVADA
7H RANCH — RUBY VALLEY
Located at the foot of the Ruby Mountains 55 miles southeast of Elko, this
balanced ranch supports 600 animal units and operates across 3,417± deeded
acres plus adjoining federal and state lands. $4,900,000
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MARKET OVERVIEW
EXCLUSIVE INVENTORY
OKLAHOMA
STAR LAKE RANCH — TULSA
This well-known purebred cattle ranch is only 16 miles north of
Tulsa. 3,290± acres of bluestem grass covered rolling hills provide
scenic vistas in all directions. Excellent working facilities including
the show/sale barn compliment the 16 main pastures. $14,750,000
OREGON
CHAPMAN RANCH — DAIRY
4,240± acres encompassing its own secluded valley with stands of pine
and fir and supporting a seasonal grazing operation as well as 400± acres
of sprinkler-irrigated cropland. 25 miles from Klamath Falls. $4,475,000
LUCKY P RANCH — WINNSBORO
Lucky P Ranch sits on the shores of Lake Cypress Springs, offering nearly
300 acres, a large hacienda-style home on the lake, equestrian facilities,
abundant game, and the rolling timbered hills of East Texas. $3,950,000
LUCKY STAR RANCH — BRIDGEPORT
Unique 2,476± contiguous acres located one hour from downtown Fort
Worth. Working ranch with multifaceted recreational appeal. Tremendous
wildlife. Spectacular residence in a private setting with frontage to Lake
Bridgeport. Reduced to $9,900,000
POINT PEAK RANCH — LLANO
Point Peak Ranch near Lake Buchanan offers the rare opportunity to
establish your Hill Country ranch from the highest vantage point in the
regional market offering 360° views from the top of Point Peak. $1,699,000
CIRCLE W RANCH — SPRAY
Premier central Oregon cattle and sporting ranch with 4 miles of the John
Day River 85 miles east of Prineville. The ranch encompasses 11,615±
deeded acres and offers total privacy. $12,500,000
DAVIS LAND & LIVESTOCK — IRONSIDE
This reputation ranch spreads across 32,700± contiguous, deeded acres
and is highly regarded for its extensive grazing resources and big game
and upland bird hunting. Excellent access and located 1.5 hours from
Boise, Idaho. $14,250,000
ILLAHEE RANCH — IDLEYLD PARK
Perched above the North Umpqua River 50 miles west of Roseburg, OR, this
77± acre Forest Service inholding represents the ultimate private escape
with comfortable improvements, an airstrip and hangar, herds of elk, and
year-round accessibility. $2,995,000
URUGUAY
ESTANCIA LA LOMA — BAYGORRIA
Livestock and crop ranch 44 miles from Durazno. 7,769± acres with 1,874
cattle and 3,392 sheep (included), 805± acres cultivated forest. Miles of
rivers. Quality improvements. USD $11,000,000
VIRGINIA
YORK RIVER PRESERVE — WILLIAMSBURG
This unique 2,685± acre property 15 minutes from downtown Williamsburg
consists of cropland, hardwood and pine forests, varied hunting
opportunities, salt and fresh water marshes, and extensive frontage on the
York River and two tidal creeks. $10,700,000
SOUTH RUNNING Y RANCH — KLAMATH FALLS
528± acres of pine-covered hills with multiple private building sites and
great views south to Mt. Shasta. Located five miles east of Klamath Falls
with frontage on Highway 140. $475,000
TENNESSEE
WILDFLOWER WOODS — FRANKLIN
1,715± acres; outskirts of Nashville. Incredible location for a property this size.
Gorgeous landscape. Endless recreational opportunities. 12± acre lake. First
time on the market in 33 years. Can be divided. $23,000,000
TEXAS
CRIPPLE CREEK RANCH — GROVETON
186± acres in Trinity County, near Groveton. Exceptionally diverse ranch offers
improved pastures, horse facilities, great hunting, and some managed pine
timber. 4,280 sq ft home and 2 large barns. $1,405,000
LA BAHIA TRAIL RANCH — BRENHAM
La Bahia Trail Ranch is approximately 113 acres along Scenic Loop 390
north of Brenham, TX; offers pastoral and exclusive views over 20 miles,
historical prominence, and a place to build a legacy. $1,250,000
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WYOMING
BAR TL RANCH — MEETEETSE
Six miles northeast of Meeteetse, this productive ranch holds two miles
of the Greybull River loaded with Yellowstone cutthroats. 390± acres of
irrigated/sub-irrigated riverbottom with practical improvements. Reduced
to $2,650,000
BOBCAT RANCH — BIG HORN
The ranch is located approximately five miles southeast of Big Horn,
Wyoming. The 150± acre ranch is a mix of native range, hay meadow and
creek bottom. The 3,760± sq. ft. home enjoys dramatic views of the Big
Horn Mountains. $1,950,000
BULL CREEK RANCH — BUFFALO
Five miles SW of Buffalo; blocked, mostly deeded 8,713± acre ranch
adjacent to USFS includes small valleys, aspen draws, live streams
and timber offering outstanding elk hunting and excellent Fall range.
$14,000,000
DOUBLE D RANCH — GLENROCK
Sporting property five miles south of Glenrock. 740± acres surrounded by public
lands. Top quality deer, elk, antelope and trout in Box Elder Creek. Beautiful sixbedroom home plus guest accommodations. $1,550,000
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FROM OUR CORNER
FALL 2015
DOUBLE RAINBOW RANCH — SHELL
This hanging (hidden) valley ranch north of Shell is spectacular and private.
Lush green meadows, huge views, a large lake and beautiful improvements
surrounded by public lands are just some of many attributes of this ideal
retreat. (Fully Furnished) Reduced to $2,950,000
HEART LAZY J RANCH — SHERIDAN
Very private 327± acre equestrian retreat only eight miles from Sheridan
includes lake, 1/2 mile of creek, beautiful house and guesthouse, 60’ X
120’ heated indoor arena, barns, shop. Lies in private valley with amazing
views. Reduced to $4,400,000
KIRVEN RANCH — SHERIDAN
Productive 2,237± acres (1,557± deeded) near Big Horn. 500± irrigated
acres complimented by lush grazing and equipped with modest ranch
improvements in the heart of Wyoming’s most sought-after communities.
$5,500,000
LOWER DIAMOND BAR RANCH — CODY
Located a short drive from Cody, the 768± acre ranch has approximately
520 irrigated acres. In addition there are two nice homes, beautiful barn,
trout pond and dramatic views of the Absaroka Mountains. Reduced to
$4,250,000
MC LAND AND CATTLE RANCH — MEETEETSE
Five miles of a good trout stream, this 10,596± acre, 500 AU ranch (7,722±
deeded) has it all. Over 1,000 acres under irrigation; productive native range,
big game, upland birds, waterfowl, immaculate operating facilities and two
attractive homes. $8,700,000
NORTH RIDGE EQUESTRIAN RANCH — BUFFALO
Located six miles west of Buffalo with dramatic mountain views on 565±
acres with 60± irrigated. Impressive 4,800 sq. ft. log home, guest house
and exceptional indoor arena and stalls. Reduced to $2,750,000
REIMLER RANCH — CASPER
30 miles west of Casper lies 8,560± acres of quality grazing (4,160±
deeded). Well-watered, hard grass country known for excellent livestock
gains. Good antelope and deer hunting. $1,600,000
RIMFIRE RANCH — DANIEL
This 3,599± deeded acre (2,400± irrigated) working ranch with adjacent
BLM and state grazing permits is located along 5 miles of Cottonwood
Creek. Features quality improvements, a great fishery, extensive wildlife
resources, views and a viable Fall yearling operation. $6,250,000
SEVEN DIAMOND SEVEN RANCH — BUFFALO
The Seven Diamond Seven is located 3 miles from Buffalo, Wyoming. All
but 450± acres are deeded on this 5,586± ranch. Great elk hunting and
fishing make this a one-of-a-kind opportunity. $7,900,000
THUNDERHEAD RANCH — WHEATLAND
Located 27 miles west of Wheatland consisting of 4,425± total acres
which includes 947± acres of Wyoming State Lease. Adjoining the Medicine
Bow National Forest, this ranch offers a blend of ranching and wildlife
recreation. Wonderful improvements. $4,300,000
HALL AND HALL WELCOMES SHAWN KEMP
TO THE LENDING TEAM!
B
ased in Hall and Hall's Eaton, Colorado office, Shawn is the newest member of our agricultural lending
team serving Colorado, Wyoming, Nebraska, and Kansas. With over 12 years in the lending industry,
Shawn has a broad knowledge of agricultural operations, including agribusinesses, production ranches,
feedlots, and dairy operations, and a keen understanding of capital markets. Prior to joining Hall and Hall,
he was regional vice president for Rabo AgriFinance, overseeingthe Colorado and Nebraska markets. Shawn
holds a BS in agribusiness with an emphasis in finance from Arizona State University. He and his wife have
one daughter and a house full of four legged children that include a French bulldog, a Newfoundland, and
Siamese cat. Shawn enjoys spending time with his family and is an avid outdoorsman who loves to hunt,
fish, and 4-wheel in his Land Cruiser.
Shawn can be reached at: 970.716.2120 - [email protected]
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OUR NEWS
HALL AND HALL TEAMS UP WITH K·COE ISOM
HELPING FARMERS AND RANCHERS IMPROVE EFFICIENCY AND PROFITABILITY
H
all and Hall has entered into a strategic
agreement with K·Coe Isom, LLP, the nation’s
leading agricultural accounting and consulting
firm (www.kcoe.com).
With offices across the country, K·Coe Isom assists
landowners with a full suite of services including
accounting, estate and succession planning, farm and
ranch financial oversight, and sustainability as well as
environmental market services.
. . . higher quality habitat can improve the natural beauty and outdoor recreation
opportunities of your property — further increasing the value of your land.”
OPERATE MORE EFFICIENTLY AND PROFITABLY
“Teaming with K·Coe Isom is a great way for Hall and Hall to help our
clients successfully operate significant farm and ranch operations,“
said Mike Hall, Managing Director of Hall and Hall. “With over
80-years’ of experience working with agriculture, K·Coe Isom is a great
resource for our clients.”
and protect the estate from potential creditors. No matter how simple
or complex, each plan is designed to meet your unique needs. Hall
and Hall will work with K-Coe Isom clients in the areas of long-term
mortgage loans, appraisals, acquisition or disposition of real-estate
assets and advising on best practices gleaned from managing over 1.2
million acres of farm and ranch land.
For its part, K·Coe Isom is able to access the appraisal, auction,
brokerage, farm and ranch management and financing services
provided by Hall and Hall.
GENERATE NEW REVENUE FROM YOUR LAND
One exciting new initiative that the two firms are working on is K·Coe
Conservation Services, LLC (KiCS). KiCS helps landowners evaluate
whether they can generate additional revenue from conservation
projects that have little or no impact on farm and ranch operations and
often increase one’s property value.
“In the coming years, we expect to see continued consolidation
in agriculture. Many farms and ranches will pass on to the next
generation or will transfer ownership,” said Jeff Wald, CEO of K·Coe
Isom. “Working with farmers and ranchers throughout the United
States, we really appreciate being able to refer clients to Hall and Hall
– a firm with a sterling reputation and significant experience in land
transactions, long-term financing and management.”
SUCCESSION PLANNING
An important area where the firms will collaborate relates to succession
planning. According to the USDA Agricultural Census, the fastest
growing group of farm and ranch operators are those 65 years of age.
Succession planning must be an integral part of an overall strategic
plan to position a business for long-term growth under the next
generation of leadership.
“A strong succession plan must achieve multiple objectives—meeting
your financial needs, maintaining family harmony, providing for
children or grandchildren, and ensuring your business’ future success,”
said Kevin Bearley, JD, MBA, of K·Coe Isom. “We help farmers and
ranchers navigate the maze of tax legislation with strategies that
maximize working capital. We also prepare employees and family
members for new leadership roles, allowing current employees to step
up when needed.
Most of us don’t want to envision a day we won’t be around to care for
our families. But the reality is that the Baby Boomers are aging and
without proper estate planning, the ones you love can be inadvertently
hurt —emotionally and financially. Successful estate planning allows
for the transfer of one’s assets to one’s beneficiaries quickly and
usually with minimal tax consequences.
K·Coe Isom develops estate plans with five primary goals: transfer
assets according to your wishes, protect net worth, provide orderly
management transition, provide financial security for family members,
page 12
State and federal regulators are increasingly requiring developers
of oil and gas wells, wind and solar energy projects, pipelines, and
transmission lines to mitigate the impacts that their activities have on
certain species. In these cases, the project developer can often meet
their obligations by paying you to enhance or simply preserve wildlife
habitat on your farm or ranch. The project developer then receives
credit for preserving wildlife habitat and can move their project
forward.
An analysis published in the 2010 State of Biodiversity Markets Report
found that conservation bank credit prices nationwide ranged from
$2,500 per acre to $300,000 per acre with an average credit price of
$31,683 per acre. Working with Hall and Hall, KiCS helps you screen
your property for conservation market opportunities. We then develop
and broker conservation projects where a suitable market exists.
“All significant landowners should be exploring how to generate
revenue from conservation projects,” said Brian Kuehl, Director of
KiCS. “If you can access environmental markets, it can increase
the profitability of your farm or ranch. As an added benefit, higher
quality habitat can improve the natural beauty and outdoor recreation
opportunities of your property — further increasing the value of your
land.”
For more information, please contact Wes Oja, Dan Bergstrom or
Jerome Chvilicek at Hall and Hall’s management group. To learn
more about succession planning, contact Kevin Bearley with K·Coe
Isom at 970-685-3450 and [email protected] To learn more
about environmental markets, contact Brian Kuehl with KiCS at
307-673-4535 and [email protected] You can also enroll your
property for an environmental market screening with absolutely no
obligation at www.kcoe.com/services/conservation-services/.
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FROM OUR CORNER
FALL 2015
Skyward Ranch
12,765± Acres Sold in Smaller Tracts, Combinations or Whole
NOV 3
Skyward Ranch is located in the famed Antelope Valley in south central California, a
reasonable commute from Los Angeles and Bakersfield. Buyers will find a land with
endless possibilities. The Auction will take place on November 3rd.
Visit HallandHall.com for additional details.
Prairie Creek Ranch
20,057± Acres Sold in Five Tracts and Combinations
NOV 20
The Prairie Creek Ranch is a 20,057± total acre cattle ranch in northeastern Montana.
It is comprised of 11,649± deeded acres with 8,408± acres of leased land. A majority
of the ranch lies along thirteen miles of the Porcupine Creek river basin. Improvements
include a home, shop, sheds, corrals, grain bins and gravel deposits. The ranch is well
watered with live creeks and springs. CRP income is available through 2017.
The auction will take place on November 20th.
Visit HallandHall.com for additional details.
FINANCE | APPRAISALS | MANAGEMENT
I
n the constantly changing real estate environment, you want to
work with qualified experts to help navigate through often complex
business decisions. With deep roots in rural real estate, Hall and
Hall is a multifaceted company with a depth of knowledge and
expertise that is unparalleled in the real estate industry.
Hall and Hall offers a wide range of services including competitive
loan products, appraisal and valuation services, farm and ranch
management, and consulting. Whether purchasing, selling, or looking
to optimize your current operation, our multidimensional approach
can help identify opportunities and tailor a plan to meet your current
and long-term goals.
Most people recognize Hall and Hall’s presence in real estate
brokerage, but often do not realize that one of our founders
started making farm real estate loans in 1935, representing
then, as we do now, major insurance companies. With predictions
for rising rates, now is the time to consider capitalizing on this
opportunity with loans available for acquisitions, refinance,
property improvement, or cash-out purposes. Current interest
rates range from as low as 2.25% for short term rates to 4.00%
for 10 year fixed rate loans. Call for quotes on longer term loans.
We have a 68 year history of common sense underwriting and we
are always available to discuss financing options.
Our accredited appraisers specialize in rural appraisals from
traditional assignments to those that entail a high level of creativity
and expertise. Our far-reaching knowledge of land values enables us
to deliver accurate and definitive information early on in the process.
We offer appraisals and valuation services nationwide for purposes
including, but not limited to financing, business planning, estate
planning, accounting purposes, establishing a purchase or sales
price, and succession planning.
Hall and Hall is one of the largest farm and ranch management
companies in the United States. Our management team
provides a wide range of services for private and institutional
owners including recruitment of management-level personnel,
comprehensive master planning, budgeting and accounting, and
resource development. Our ability to integrate traditional and
innovative farming and ranching practices with wildlife and
fishery enhancements allows us to meet your unique interests
and priorities.
The combination of these resources helps us to evaluate and meet
your goals. Our professional staff stays abreast the constantly
evolving markets and maintains an extensive network of industry
professionals. Hall and Hall can provide a unique prospective and
innovative solutions for consulting on special projects or for analysis
of a farm or ranch purchase.
Call any of our offices for more information on loans, appraisal and
valuation, management, and consulting services.
OFFICES
BILLINGS, MONTANA
406.656.7500
BOZEMAN, MONTANA
406.587.3090
DENVER, COLORADO
303.861.8282
LUBBOCK, TEXAS
806.698.6882
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NORTH PLATTE, NEBRASKA
308.534.9000
page 13
REGIONAL REPORT
Here are field reports from our different market regions, delivered by our specialists who are on
the ground actually doing business in those areas, and who can share not only statistics, but
the real story behind them. We are pleased to pass on their insights to give you a sense of the
current mood of the markets and where they are heading.
NORTHERN ROCKIES - B ELFLAND
The rise in market activity in the
northern Rockies that began this
spring has continued through the
summer season. The Northern
Rockies have outpaced other
regions in terms of sales volume
and recreational ranch sales have
dominated the hot market run in
Montana. Ranches with strong
sporting amenities for trout fishing,
upland bird and waterfowl hunting
have commanded values rivaling the historic highs of a
decade ago. Other buyers in the market, however, remain
reluctant to meet seller’s current price expectations,
reminding us that it really isn’t 2006 again. It is noteworthy
that many of the recent sales are properties that have been
on the market for 2-3 years and many of those sales have
been in the $5-10M price range, which has been a weaker
segment of the market. Working cattle and grass ranches
remain in demand and in limited supply. Speculative
investors have not re-entered the market, with today’s
buyers having long term, personal goals for owning a ranch.
While current stock market instability and interest rate
uncertainty concerns investors, the demand for rural real
estate in the northern Rockies remains strong heading into
fall.
NORTHWEST - ROGER DRYDEN
The region is experiencing some
downside due to the lingering
drought and the many wildfires
that have burned this summer. This
being said, some buyers are looking
at the Northwest as an opportunity
to make a deal. Prices have been
stable, and it appears this will stay
the norm due to the dry conditions
we are facing. Grazing land and
high quality irrigated cropland remain in demand, with
inventory of these properties remaining low. The buyer with
a long term vision will be rewarded when precipitation levels
return to normal. Recreation ranches emphasizing lifestyle
as well as hunting and fishing opportunities are more
plentiful and will stay priced right for the foreseeable future.
The Northwest will continue to offer reasonably priced
properties for those interested in the long term ownership of
sustainable agricultural and timber lands that can produce
income over the next decade.
SOUTHERN ROCKIES - BRIAN
SMITH
Our showing season started
slowly this summer. Plenty of
rain in May and June was great
for grass, but sure made ranch
tours challenging. Activity
began picking up in July and has
increased steadily since then.
We have had some significant
transactions come together and
expect more as a result of the recent activity. Larger cattle
ranches continue to be in short supply and high demand.
More recreationally oriented properties are a mixed bag,
with some ranches receiving a lot of interest while others
have been pretty quiet. As one would expect, the highest
quality and best priced properties are experiencing the
highest level of activity. It is now very evident that the
falling price of oil has removed the majority of buyers with
minerals-related wealth from the marketplace. Fortunately,
the other segments of the market have continued to improve
so the net effect may not reflect much of a dip.
THE GREAT PLAINS - JOHN WILDIN
So far in 2015, we have met or
exceeded our normal precipitation
amounts and the temperatures have
been slightly below normal. We
are looking at a near-record spring
crop harvest and the native grass
production is off the charts. Seeing
the end to the onerous five year
drought this past spring has been a
welcome relief. Commodity prices
are still under downward pressure
from the surge in the value of the U.S. dollar. Cattle prices
continue strong as opposed to a substantial drop in pork
prices. The Fed continues to maintain their zero percent
interest rate policy that in turn puts upward pressure on
production ag land prices. While lower grain prices will be
a concern for producers and lenders, the overall production
agriculture complex came into this period with very strong
balance sheets. Couple that with the investor-led drive for
secure assets with an income stream, and it appears that
land values will remain fairly stable in the near future.
CONTINUED ON NEXT PAGE
page 14
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FROM OUR CORNER
FALL 2015
SOUTHEAST - ELLIOTT DAVENPORT
As I sit down to write this market
update, I’m reflecting on the
comments I wrote a few months
ago and the general patterns
then are still largely holding true
today. In general, the market
continues to experience a modest
level of increased activity and it
is moderately more vibrant today
than a few months ago. With this
said, the level of increased activity
varies widely among more defined markets and property
types. Buyers have a very good handle on what they want
and properties with unique attributes and lifestyles are
garnering the lion’s share of buyer’s interests - and there is
a very respectable amount of demand for these high quality
properties. With this said, buyers are still price sensitive and
are being thorough in researching market comps and holding
close to these price points. Income producing agricultural
land has cooled off to a degree. Buyers still exist for these
properties, but at valuations that are more reflective of
today’s lower commodity prices.
AUCTIONS - SCOTT SHUMAN
We have recently seen many
news articles about the influx
of funds being ear marked for
agricultural properties. While that
is encouraging, the tight investment
parameters required by fund
managers make it difficult for them
to compete in the marketplace.
From an auction perspective
however, it is comforting to know
that the market for quality properties
will continue to be pursued by both institutional money and
other buyers such as neighbors and private individuals.
TEXAS - TYLER JACOBS
As we reach the dog days of summer
and early fall in Texas, it seems
there have been easier times to
provide a land market update. The
only constant that a broker can
observe is the continued demand for
quality property that is appropriately
priced and as such, inventory of
such property remains tight. When
higher quality land hits the market,
it can often set a new market high in the immediate area.
However, 2015 appears to be a year where certain segments
of the land market take a breather as the reality of lower
commodity prices and low oil prices takes hold in the
minds of buyers. Long term futures for corn, cotton and
oil offer little encouragement. Localized factors continue
to challenge the market in various ways, but relief from
long term drought has been a blessing to farm and ranch
producers and landowners statewide.
CALIFORNIA - BILL MCDAVID
“More of the same” is the report from
California. The drought in the Golden
State continues to make headline
news and many wonder whether
this is the new norm. Properties
with reliable water resources are
undoubtedly going to fare better
than those without. Forest fires have
certainly not helped the situation.
Recent negotiations on a number of
would-be transactions still indicate a divide between Sellers
and Buyers for California recreational properties in rural
locations while productive agricultural holdings are still in
high demand with a short supply.
The inventory for working ranch properties continues to be
tightly held given the strong beef prices. We currently have
9,072 acres of Kansas grassland that will be sold at auction
on October 21st and 22nd. Additionally, We will be selling
the 12,765 acre Skyward Ranch in California on November
3rd. This property will test the investor/developer market as
they compete for one of the largest deeded properties within
driving distance to Los Angeles.
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REAL ESTATE GROUP
BILLINGS, MONTANA
James Taylor *
Randy Shelton
BOZEMAN, MONTANA
Joel Leadbetter (Managing Director)
David Johnson
Tim Murphy
B Elfland
Ryan Flair
BUFFALO, WYOMING
Mike Fraley
MANAGEMENT GROUP
BILLINGS, MONTANA
Douglas Hall
Jerome Chvilicek *
Scott Griswold
Dave Roddy *
Wes Oja *
Dan Bergstom
Tina Clark Hamm *
BOZEMAN, MONTANA
Mike McDonnell
BILLINGS, MONTANA
2290 Grant Road
Billings, MT 59102
tel: 406.656.7500
OFFICE LOCATIONS
DENVER, COLORADO
1559 Logan Street
Denver, CO 80203
tel: 303.861.8282
BOZEMAN, MONTANA
1227 N 14th Ave., Ste. 1
Bozeman, MT 59715
tel: 406.587.3090
SUN VALLEY, IDAHO
560 2nd Ave. N
Ketchum, ID 83340
tel: 208.622.4133
NORTH PLATTE, NEBRASKA
Randy Clavel
HUTCHINSON, KANSAS
John Wildin
LUBBOCK, TEXAS
Monte Lyons *
DENVER, COLORADO
Tom Metzger
Jeff Buerger
MISSOULA, MONTANA
319 W Pine Street
Missoula, MT 59802
tel: 406.542.3762
DENVER, COLORADO
Mike Hall (Managing Director)
JC Chirila
Shawn Kemp
COLLEGE STATION, TEXAS
Tyler Jacobs
MISSOULA, MONTANA
Bill McDavid *
Keith Lenard
STEAMBOAT SPRINGS, COLORADO
Brian Smith *
Cody Lujan
SUN VALLEY, IDAHO
Stoney Burke
Trent Jones *
AUCTION GROUP
EATON, COLORADO
Scott Shuman
Rob Hart
* Director
AFFILIATES
STEAMBOAT SPRINGS, COLORADO
3001 S Lincoln Ave., Ste. E
Steamboat Springs, CO 80487
tel: 970.879.5544
EATON, COLORADO
100 S Cherry Ave., Ste. 6D
Eaton, CO 80615
tel: 970.716.2120
HUTCHINSON, KANSAS
1 N Main St., Ste. 517
Hutchinson, KS 67501
tel: 620.662.0411
LUBBOCK, TEXAS
7103 87th St.
Lubbock, TX 79424
tel: 806.698.6882
NORTH PLATTE, NEBRASKA
Mail only: 410 E Leota, Ste. 5 #110
North Platte, NE 69101
tel: 308.534.9000
COLLEGE STATION, TEXAS
543 William D. Fitch, Ste. 104
College Station, Texas 77845
tel: 979.690.9933
SOUTHEASTERN U.S.
1829 Auburndale Ave.
Chattanooga, TN 37405
tel: 423.364.2092
BEND/REDMOND, OREGON
Roger Dryden
SOUTHEAST
Elliott Davenport
BUFFALO, WYOMING
150 South Main
Buffalo, WY 82834
tel: 307.217.0545
CENTRAL OREGON
1305 SW Lake Road
Redmond, OR 97756
tel: 541.480.4818
WESTERN WYOMING/EASTERN IDAHO
189 N Main St. Ste, 100
Driggs, Idaho 83422
tel: 208.221.3866
WESTERN WYOMING/EASTERN IDAHO
H. Kenneth Dunn
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