Montana Ranch Owned by Former Metallica Bassist Goes Viral

Our Sula, Montana ranch listing owned by former Metallica bassist and heavy metal icon, Jason Newsted, has been making headlines across the globe for the past week. Cowboys & Indians, The Wall Street Journal, The LA Times, The Daily Mail, People Magazine, and dozens of other outlets have done stories.

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Two Montana Ranches Profiled by The Wall Street Journal

A technology entrepreneur is putting his two central Montana cattle ranches on the market for $14.5 million and $14.95 million. The sellers are Bill Cruz and his wife, Patricia. Born in Havana, Mr. Cruz, 56, co-founded a software trading firm, later called TradeStation Group, with his younger brother. The company was sold to Monex Group for $411 million in 2011. Mr. Cruz said he bought an RV and searched the country before buying Eagle Creek Ranch in 2005. Read the full story here.

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TIME Magazine Names Bozeman, Montana Best Place to Live

An excerpt from the article reads:

“It doesn’t get much more scenic than Bozeman, Mont., a picturesque college town nestled between four mountain ranges and located just 90 minutes from Yellowstone National Park. A paradise for outdoor enthusiasts, Bozeman boasts easy access to world-class skiing, fishing, hiking, rafting, and more. It also offers a charming downtown area and a surprisingly vibrant cultural scene, thanks to the presence of Montana State University and a number of art and music events like the annual Sweet Pea Festival. The economy is expected to keep expanding; Moody’s Analytics predicts 11.4% job growth over the next five years.” —Ismat Sarah Mangla

Located just 20 minutes west of Bozeman, with easy access to Big Sky Resort and just a few miles from the Madison River, Elk Creek Ranch’s 1,166.70± acres make up a strong agricultural base with excellent recreational opportunities.

elk-creek-097Whispering Pines is a 41± acre tract of conifer-covered foothills located in the southeast corner of the Gallatin Valley, in the highly desirable mountain community of Bozeman, Montana.whispering-pines-054

Ranches for Sale and Upcoming Auction in the Press

Over the past few weeks, two of our Colorado ranch listings, a Washington ranch for sale, and an upcoming Colorado ranch auction have been in the news. Motherwell Ranch was profiled by TopTenRealEstateDeals, Business Denver, Wide Open Spaces, The Steamboat Pilot, and Denver 7 ABC.

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Idlewild Canyon in Washington was profiled by a number of media outlets in the Northwest, including The Portland Business Journal and The News Tribune.

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The Bowen Arrow Ranch, an 8,700-acre property near Denver being auctioned October 19 and Piedra Valley Ranch in Colorado were also profiled by The Denver Channel.

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Impact of Natural Disasters on Texas Farm & Ranch Market

After a natural disaster or catastrophe, such as a hurricane, farm and ranch real estate markets in the impacted area typically pause for a period of time. Tyler Jacobs of Hall and Hall explains on “Texas News and Views” a radio program by Texas Farm Bureau.

Hall and Hall Featured in Mansion Global Ranch Real Estate Story

We were pleased to see two of our Partners, Jeff Buerger and Jim Taylor, prominently featured in a Mansion Global story about the ranch real estate market. The piece highlights Stealey Mountain Ranch, a new Colorado ranch listing. Excerpts from the story entitled, “Home on the Range: Multi-Million Dollar ‘Lifestyle’ Ranches Are a Strong Draw For Wealthy” can be read below.

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“We have a long list of people who will quickly buy something really super [that are] under the radar at a top price but won’t even consider places that aren’t quite super,” said Hall and Hall’s Jim Taylor

Though not the most common method of sale, Mr. Taylor said that this year, his firm sold four premium recreational ranches—ranging from about $10 million to $40 million—without ever formally listing the ranches.

Putting a premium on the beauty and recreation value of a ranch really began in full-force in the late 1980s, Mr. Taylor said. In 1989, he helped broker one of the largest and perhaps most well-known recreational ranch sales of the time: Ted Turner’s purchase of the 107,000-acre Flying D Ranch in Montana for $21 million. “After that, the floodgates opened,” Mr. Taylor said. “People were then really willing to pay for the scenery, for the trout fishing, it was much more than just about a ranch.”

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“What makes a premium recreational ranch can really depend on the buyer, but when it has a lot of those bells and whistles—really beautiful views, privacy, great hunting and fishing, tucked up near a national forest, and not too far from civilization, it’s something people who can afford it will buy,” said Jeff Buerger, a Hall and Hall broker who represents the Stealey Mountain Ranch—a $24,950,00 Colorado property at the foot of the San Juan mountains, a soaring and rugged range of the Rocky Mountains. Along with wildlife and expansive views, the more than 2,100-acre property, bordered by the Uncompahgre National Forest, also features an 8,079-square-foot main residence, perched on a hilltop, with an indoor saltwater pool. The seller of the property, which has been on the market for about three months, declined to comment.

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While the demographic of the top-tier lifestyle ranch buyer is generally someone from the Baby Boomer generation, “someone who maybe grew up watching John Wayne and really put value in that old-fashioned Western way of life,” Mr. Buerger said, he’s also seen a growing number of younger buyers, especially from the tech world, looking to invest in the land and the lifestyle.  

“A beautiful ranch can really be like buying a beautiful piece of art,” Mr. Buerger said. “It can be a be a long term investment, and it’s also very subjective.”