The Land Report

SPR 2012

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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S P R I N G 2 0 1 2 | The LandReport 49 LANDREPORT.COM Highlight: "In May 2011, we closed over $24 million in sales," says Mike Callan. "It turned out to be a trend-setting m onth for a banner year rather than an anomaly." Insights: "This market has shown us a real turnaround. We've not only seen an increase in sales on income-producing property but all across the board." Joshua & Co. www.joshuaco.com (303) 304-9556 2011 Sales: > $100 Million Who: The firm's Ranch Group enjoys the distinction of being the only ranch specialist firm with global affiliations with Christie's Great Estates and Luxury Portfolio. Handles luxu- ry properties around Aspen and the western slope of Colorado, with a concentration on recre- ational ranches and properties with high conservation values. Standout Brokers: Tommy Latousek is the firm's ranch spe- cialist. Founder Joshua Saslove has completed many of the largest non-commercial transac- tions in Colorado. Highlight: Sold the Roaring Fork Ranch. Knipe Land Company www.knipeland.com (208) 345-3163 2011 Sales: > $100 Million Who: Family-owned firm is one of the oldest in the West. Targets agricultural and recre- ational land, including farms, ranches, and natural-resource based properties. Also offers farm management services. Standout Broker: Founder John Knipe, ALC, is a past offi- cer of the NAR, president of Idaho Realtors Land Institute, and cofounder of World Organization Land Federation. Insights: "Inventory of mar- ketable agricultural property has decreased; however, out of the ones being marketed, we are seeing one in five farms and r anches selling in the last year in Idaho and Eastern Oregon," Knipe says. Legacy Lands www.montanalegacylands.com (406) 222-7963 2011 Sales: < $50 Million Who: Led by Gwen Wagner, the firm specializes in ranches and recreational properties. Wagner has deep roots in the region as well as hands-on experience in the ranching business. Insights: "Sellers are realizing that a return to the heyday of ranch sales is unlikely in the immediate future. This has opened the door to some great opportunities for acquisition at fair prices," says Wagner. Legacy Properties West www.legacypropertieswest.com (970) 769-8989 2011 Sales: < $50 Million Who: Ranches, recreational properties, and large-acreage parcels and estates are the spe- cialties of this Durango firm. Founded by Tom Morse; his wife, Linda Morse, is the envi- ronmental consultant, and son Zach is a broker. Highlight: Sold the Lazy H Ranch, listed at $3 million. Live Water Properties www.livewaterproperties.com (866) 734-6100 2011 Sales: > $100 Million Who: Ranch brokerage firm spe- cializing in premium cattle and agricultural operations, fly-fishing and hunting properties, and conservation-quality properties. Highlight: Closed $47+ million in listing value in the last 6 weeks of 2011 and an additional $33 million in January 2012, including Yampa Tailwaters Preserve. Listed at $21+ million, the Preserve ranked as one of the top five fish- ing properties in the Rockies and w as the largest sale in Steamboat Springs in three years. Live Water Properties' expertise in conserva- tion, fisheries, and wildlife habitat management played an important role in the Yampa Tailwaters transaction. The marketing and sale was a collaborative effort of Brian Hartley in Denver, Ben Pierce in Bozeman, and Alex Maher in Jackson Hole. Mirr Ranch Group www.mirrranchgroup.com (877) 623-4545 2011 Sales: $50-$100 Million Who: Specializes in income- producing ranches and farms, sporting properties, rural real estate with conservation values, and land adjoining parks and public lands. Services include wildlife and fishery consulta- tion, ranch management, con- servation consultation, and pub- lic lands consultation. Highlight: Represented buyer of Luera Ranch, over 40,000 acres near the Gila Wilderness in southwestern New Mexico. Noteworthy: Former public lands attorney Ken Mirr is board president of the Colorado Coalition of Land Trusts. Peaks Real Estate Sotheby's International Realty tellurideluxuryproperties.com (970) 369-7700 2011 Sales: < $50 Million Who: When Forbes, The Wall Street Journal, The Los Angeles Times and The New York Times need expert commentary on luxury real estate, Managing Broker Bill Fandel is the one who gets the call. Market Observation: "What you're seeing in the Telluride market is well-heeled landowners eyeing properties that are favorably priced with the ultimate goal of putting in place some sort of conservation p lan. I love working with this type of buyer." Raich Montana Properties www.rmpmontana.com (406) 223-8418 2011 Sales: < $50 Million Who: Tracy Raich deals in ranches and recreational land in Montana's Paradise Valley. Philosophy: As a one-person firm, the focus is on personal attention for each client instead of volume. Raich has extensive expertise on the area. Insights: Raich enjoyed steady business during a down year. "There will be continued investment in this market, which may result in a depletion of inventory and make truly amazing ranch and recreational properties a scarcity," she says. Ranch Marketing Associates www.rmabrokers.com (970) 535-0881 2011 Sales: < $50 Million Who: Focuses on marketing agricultural, recreational, and working ranches and sporting properties throughout the West. Highlight: Two listings on Land Report Top Ten. See page 22. Standout Broker: Ron Morris received a special achievement award from the Colorado Realtors Land Institute. Slifer Smith & Frampton Real Estate www.vailrealestate.com (888) 773-8273 2011 Sales: < $50 Million Who: Vail's first brokerage remains its largest. The Ranch Division handles trophy ranches and luxury properties. Highlight: Offering The Ranch on Sweetwater for $8.7 million.

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