The Land Report

Summer 2017

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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104 The LandReport | S U M M E R 2 0 1 7 LANDREPORT.COM I nsight: A strong start to 2017 thanks to increased consumer confidence. Mossy Oak Properties Cupper Creek Land Company (541) 934-2946 2016 Sales: < $50 Million Who: Oregon's niche market authority for two-plus decades. Wow: Consistent owner financ- ing and ample inventory with a steady influx of customers. Insight: Higher demand for grazing land and recreational investment properties. Smith-Kandal Real Estate (760) 344-2212 2016 Sales: $50–$100 Million Who: Specializes in Desert Southwest irrigated farmland. W E S T Arnold Realty (307) 746-2083 2016 Sales: < $50 Million Who: Family-owned leader in marketing ranches, hunting land, and recreational holdings in the Black Hills. Wow: Sale of several properties that had lingered on the market. Insight: Step-up in ranches and recreational properties under contract via 1031 Exchange. Aspen Associates Realty (970) 544-5800 2016 Sales: $100–$250 Million Who: Expert in residential/com- m ercial sales and luxury rentals. Wow: 2016's top real estate firm in the Roaring Fork Valley for sales per broker. Insight: Noted only a small d ecline after a record-setting year in 2015. Aspen Snowmass Sotheby's International Realty (970) 925-6060 2016 Sales: $50–$100 Million Who: Powerhouse firm boasting 10 offices with more than 160 associates throughout Colorado's Roaring Fork Valley. Wow: Represented seller in the $18.5 million purchase of Red Mountain subdivision of Aspen. Bates Land Consortium (801) 560-4259 2016 Sales: < $50 Million Who: Founded in 1970, this time-tested firm continues to thrive as it approaches the half-century mark by offering counsel in larger ranches, big- game tracts, farms, and strategic recreational properties across the Rocky Mountain West. Wow: Sold the 3L Cattle Ranch — 26,580 acres in Saskatchewan offered at $19.95 million — after six years on the market. Current inventory includes the 948,380- acre Winecup Gamble Ranch, which dates back to 1868. Insight: "The 2016 market was slow for overpriced recreational offerings and solid for low inven- tory of productive ranches," says C. Patrick Bates. "Straight farmland was off by 10 percent." Berkshire Hathaway HomeServices Brokerage West, Inc. Real Estate (877) 443-6234 2016 Sales: < $50 Million Who: Northwest Wyoming's l eaders in vacant land and recreational real estate in the vicinity of Yellowstone National Park. Wow: Participated in several $ 1 million-plus sales. Insight: Strong economic indicators for the year ahead. Berkshire Hathaway HomeServices Montana Properties (844) 234-8111 2016 Sales: < $50 Million Who: Full-service statewide real estate company focused on land, luxury, ranch, and recreational real estate transactions. Wow: August sale of a Madison Valley ranch — representing the first time the property changed hands outside the original family homestead in more than a cen- tury — for $2,255/acre. Insight: Flat sales relative to 2015 but with high demand for quality and fairly priced agricul- tural production properties. Chase Brothers Properties (307) 752-2876 2016 Sales: < $50 Million Who: Wyoming-based land and ranch specialists. Wow: Sold Ivy Creek Ranch, setting a new record for dry ranchland in Eastern Sheridan County, Wyoming. Insight: The current supply of good investment-grade ranches remains tight. Clark & Associates Land Brokers (307) 334-2025 2016 Sales: $100–$250 Million Who: Utah-based experts in farm, ranch, recreational, and auction properties. Wow: Represented the buyers on the purchase of the 19,725- acre Lazy K Bar Ranch. I nsight: " We feel very positive about the real estate market in 2017 for buyers and sellers alike," says Cory Clark. Clearwater Montana Properties (800) 577-3013 2016 Sales: $100–$250 Million Who: Full-service brokerage with 32 offices in Montana, Wyoming, Washington, and Idaho specializing in farm, ranch, and recreational properties. Wow: Completed 35 transac- tions at $750,000-plus including the 3,540-acre Montana's Whitetail Ridge Elk Ranch. Insight: "The 2016 market saw a decreasing inventory of quality farms, ranches, and recreational properties, and a correlated high demand," says Kevin Wetherell. Compass Aspen (970) 925-6063 2016 Sales: < $50 Million Who: Aspen-based experts in Western Colorado working and recreational ranches. Wow: Brought $119 million in new ranch listings to the market in 2016 including Greg Norman's $55 million Seven Lakes Ranch. METHODOLOGY The Land Report's annual survey of US land brokerages is based on the total value of self-reported 2016 domestic land sales through traditional brokerage. Totals exclude commercial, industrial, and residential assets, unless they were a component of a more valuable land asset. All figures were provided by respective firms from March 1 through May 15, 2017.

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