Pine Mountain Cattle Company

Property Map

Pine Mountain Cattle Company - Recently Sold

$7,900,000
Bly, Oregon

Located in south central Oregon one hour east of the commercial airport in Klamath Falls, Pine Mountain Cattle Company (PMCC) is an impressive operating and recreation ranch that features 7,810± deeded acres and over 10 miles of the North Fork of the Sprague River and Merrill Creek.  Extensive surface and ground water rights along with miles of stream frontage with fishing for rainbow and brown trout make this among the best-watered ranches available in the West today.  In addition, PMCC offers superlative mountain scenery, extensive national forest boundary, private Forest Service grazing permits, a full set of quality residential and agricultural improvements, and a balance of irrigated and sub-irrigated meadows, timbered uplands, and native rangeland. The owner runs approximately 450 breeding cows plus replacements and bulls on the ranch year-round and up to 450 pairs from May through September depending on moisture and market conditions.

Location: 

PMCC is located in southern Oregon’s upper Sprague River Valley five miles northwest of the small ranching community of Bly (population 500). The ranch is reached via the Ivory Pine Road, a paved, all-season county road, from State Highway 140. The city of Klamath Falls, Oregon (population 42,000) is 50 miles southwest of the ranch and the principal trade center for the region. The city is home to Klamath Falls Airport, which offers commercial air service on United Airlines as well as a fixed-based operator, Klamath Aircraft Services. Medford, Oregon is located two hours west of the property and provides alternate commercial air service from the Rogue Valley International-Medford Airport on Horizon, United, Delta/Skywest, and Allegiant Airlines. Bly provides basic amenities, including groceries, fuel, a post office, and the district Forest Service office. Lakeview, Oregon (population 2,500) is 45 miles east of the ranch and offers additional services, including a 5,306’ x 100’ paved airstrip with 100LL and Jet-A fuel. The ranch also offers its own 2,000-foot strip that can accommodate light aircraft.

Locale: 

Klamath County is located in south central Oregon east of the Cascade Range along the border with California. The county features a diverse landscape, from snow-capped mountains and rugged, heavily timbered mountain slopes to rolling sagebrush benchlands and broad, flat valleys. Klamath County covers approximately four million acres with the Fremont-Winema National Forests comprising 2.3 million acres of the county’s landmass. The lucrative beaver pelt market lured trappers to the area in the early nineteenth century, while the fertile bottomlands drew settlers from the eastern United States for over 100 years beginning in the 1840s.

Located just north of Klamath Falls, Upper Klamath Lake is the largest freshwater lake in the state and one of the largest in the country. Water from the lake is used toward the irrigation of 240,000 acres in southern Oregon and northeast California as part of the federal Klamath Project initiated in 1905. The lake is one of the best bird-watching areas in the state with multitudes of waterfowl and shorebirds taking advantage of the lake’s marshy habitat during their spring and fall migrations. The Williamson River is Upper Klamath Lake’s principal tributary stream and famous for its trophy-sized redband trout (the region’s native rainbow), which migrate up the Williamson during the summer months. Majestic Crater Lake National Park, Oregon’s only national park, is also located in Klamath County just 60 miles north of Klamath Falls. Famous for its amazing water clarity and deep blue color, Crater Lake is the deepest lake in the Western Hemisphere with an average depth of 1,148 feet.

General Description: 

PMCC is a highly productive, operating cattle ranch with outstanding recreational attributes. The majority of the ranch lies in a single, contiguous block, with a separate unit of approximately 600 acres referred to as the Griffin Ranch, located just a quarter-mile east of the northern portion of the property. The ranch is bordered by a combination of national forest lands and large private holdings. Gearhart Mountain (elevation 8,364 feet) is the dominant feature looking east from the ranch and is at the heart of the 24,000-acre Gearhart Mountain Wilderness Area. Views from the top of Gearhart Mountain are spectacular and extend from Steens Mountain to the east, the Cascade peaks to the west, Mount Lassen in California to the south, and the Three Sisters in Oregon to the north.

The defining characteristic of the ranch is its superior water resources. The North Fork of the Sprague River originates on national forest lands east of the ranch and meanders through the property for approximately nine miles providing irrigation water for the ranch’s hay fields and pastures as well as opportunities to cast for redband and brown trout. Approximately 6.5 miles of the North Fork are fully encompassed by the ranch, while the lower 2.5 miles of the river form the property’s southwest boundary. Numerous sloughs and flooded oxbows dot the large meadows on the south side of the North Fork and support extensive sub-irrigated meadows as well as excellent waterfowl habitat. Meryl Creek, a year-round tributary to the North Fork, flows through the ranch for approximately 3.5 miles and is also a source of irrigation water and trout habitat. Native rangeland and forested hills of ponderosa pine and juniper ring the ranch’s extensive meadows and irrigated hay fields adding to the insulation and aesthetics of the ranch.

Acreage: 

7,810± deeded

Improvements: 

PMCC features a full-set of functional, well-maintained residential and agricultural improvements. The owner has spent significant capital to remodel and upgrade the existing homes on the ranch as well as install or improve miles of fence, irrigation infrastructure, and operating improvements.

Ranch improvements include the following: Insulated shop (approx. 7,200 sq. ft.) with office, parts room and storage loft Three sets of working corrals with scales Calving barn (5,920± sq. ft.) Metal show barn (6,000± sq. ft.) 1,000-ton steel hay barn 320-ton pole hay barn 1,000-head feedlot Three wooden barns Employee House #1 (1,457± sq. ft./ built circa 1980) Employee House #2 (1,948± sq. ft./ built in the early 1900s and remodeled in 2003)

The main residence on the ranch consists of approximately 2,050± square feet with two bedrooms and two baths and features a contemporary design. This residence was originally constructed in the late 1960s, and the current owner finished a complete remodel featuring high-end appointments in 2005. It sits in a very private location within the interior of the ranch overlooking the North Fork. The adjoining deck and screened porch offer outstanding views of the surrounding mountains and lush meadows that flank the river. The main residence is comfortable and understated and fits appropriately into the surrounding landscape.

An additional residence is located on a hilltop south of the North Fork, southwest of the main residence. This comfortable home was constructed in 1997 and features 1,948± square feet and four bedrooms and two baths. Adjacent to the home is a 66’ x 45’ insulated, metal garage/shop. The homesite offers commanding views of the meadows below and Gearhart Mountain to the northeast.

Climate: 

The elevation of the ranch is approximately 4,400 feet. The climate in the upper Sprague Valley is best described as semi-arid with about 230 sunny days a year and annual precipitation of approximately 14 inches. Summers are warm with daytime temperatures in the mid-80s and evenings cooling into the 40s. During the winter average daytime highs are in the low 40s. The valley floor receives approximately 14 inches of annual snowfall.

General Operations: 

Simply stated, PMCC is an outstanding production ranch that offers tremendous grazing and water resources as well as significant operating and management flexibility. The current owner runs approximately 450 mother cows plus bulls and replacements on the ranch year-round and another 450 cow/calf pairs on the ranch from May through September depending on winter precipitation and other related factors. The owner’s summer grazing operation includes utilizing deeded lands on the ranch as well as five US Forest Service grazing permits exclusive to the ranch and a State of Oregon grazing lease. Four of the Forest Service permits are considered “on/off” permits and used in conjunction with the owner’s contiguous deeded lands. The fifth Forest Service permit is a term permit for the Horse Glade Allotment and accommodates 250 pairs from the middle of June through September. Located five miles north of the ranch, Horse Glade is an excellent grazing allotment that is well-watered and encompasses productive meadows and timbered rangelands. The state grazing lease is used in conjunction with the owner’s Forest Service permits. Taking advantage of an abundance of forage on the ranch’s deeded lands and grazing allotments, the owner’s steers typically wean in the fall at over 650 pounds.

The quality and quantity of irrigation water associated with the ranch is perhaps its most significant asset. Utilizing surface irrigation water out of the North Fork and Meryl Creek and groundwater from three irrigation wells on the ranch, the owner irrigates a total of 2,100 acres, more or less, including approximately 450 acres of grass hay. The property features approximately 1,530 acres of “certificated” primary water rights dating back to 1878 along with two “permitted” rights not yet in certificate stage for approximately 600 acres of primary irrigation and 430 acres of supplemental irrigation. In addition to the three well pumps, there are two pumping stations in the North Fork. All pumps on the ranch are low pressure/high volume. With the exception of one wheel line, the ranch is flood-irrigated. Hay fields on the ranch are cut one time and yield approximately four tons per acre. In addition to the irrigated lands on the ranch, there are approximately 1,050 acres of dry or sub-irrigated meadows, 2,910 acres of rangeland, and 1,840 acres of timberland.

Wildlife Resources: 

The ranch and surrounding Forest Service lands are home to abundant mule deer along with a growing population of elk, and the ranch receives an allotment of landowner preference permits each year to hunt these animals. California quail, Hungarian partridge, and an assortment of waterfowl are found on the ranch throughout the year. With its abundant water resources and diverse upland habitat, the ranch is also home to a host of other wildlife species including black bears, mountain lions, sandhill cranes, raptors, and migratory songbirds.

Fishery Resources: 

The North Fork of the Sprague River originates northeast of the ranch near Gearhart Mountain and joins the South Fork of the Sprague River about a mile south of the property. The upper 15 miles of the North Fork flows through stands of ponderosa pine on the Fremont National Forest and is designated as a federal Wild and Scenic River.

The combination of the North and South Forks results in the Sprague River, which flows west through a broad valley past the small communities of Beatty and Sprague River. The Sprague joins the Williamson River at Chiloquin, Oregon about 10 miles north of the Williamson’s confluence with Upper Klamath Lake. The upper Sprague, including the North Fork and North Fork tributaries such as Meryl Creek and Five Mile Creek, are home to brown trout in the 20-inch class and redband up to 15 inches. Except for the upper end of the ranch, where the North Fork still flows swiftly over a cobbled bottom, the stretch of river meandering through the property is primarily a lower gradient meadow stream featuring deep holes and undercut banks. July and August are considered the best times to fish the ranch when water clarity and temperatures are optimal and fish are most active and looking to feed on the surface.

Taxes: 

Property taxes are approximately $20,000 annually. There is no state sales tax in Oregon.

Broker Comments: 

Among the finest operating and recreational properties on the market, PMCC is highlighted by a profitable cattle operation, unrivaled water resources, and a superb trout fishery. The ranch lies in a very private setting yet is easily accessible via paved roads.

The Facts: 

-- highly productive operating ranch with outstanding recreational values -- Superior water resources, including excellent water rights to irrigate over 2000 acres and 12 miles of live streams supporting a quality wild trout fishery -- Significant operating and management flexibility utilizing the ranch's deeded lands and 5 private Forest Service grazing permits -- Full set of functional, well-maintained residential and agricultural improvements -- Easy driving distance to Klamath Falls and a commercial airport

Additional Services: 

MANAGEMENT SERVICES – Hall and Hall’s Management Division has a very clear mission–to represent the owner and to ensure that his or her experience is a positive one. Services are customized to suit the owner’s needs. They often begin with the recruiting and hiring of a suitable ranch manager or caretaker and are followed by the development of a management or operating plan along with appropriate budgets. Ongoing services include bill paying, ranch oversight, and consulting services as needed. Even the most sophisticated and experienced ranch owners appreciate the value of a management firm representing them and providing advice on local area practices and costs. Wes Oja and Jerome Chvilicek at (406) 656-7500 or Justin Bryan at (325) 260-5883 are available to describe and discuss these services in detail and welcome your call.

RESOURCE ENHANCEMENT SERVICES – Increasingly the value of a ranch is measured by the quality of each and every one of its resources. Coincidentally, the enhancement of a ranch’s resources also increases the pleasure that one derives from the ownership of a ranch. Our management services have included the assessment of everything from wildlife habitat to bird habitat to water resources and fisheries and the subsequent oversight of the process involved with the enhancement of these resources.Wes Oja, Jerome Chvilicek or Dan Bergstrom at (406) 656-7500 or Justin Bryan in our Abilene office at (325) 260-5883 are available to describe and discuss these services in detail and welcome your call.

AUCTIONS - Hall and Hall Auctions offer “Another Solution” to create liquidity for the owners of Investment-Quality Rural Real Estate.  Our auction team has experience in marketing farmland, ranchland, timberland and recreational properties throughout the nation.  Extreme attention to detail and complete transparency coupled with Hall and Hall’s “Rolodex” of more than 40,000 targeted owners and buyers of rural real estate help assure that there are multiple bidders at each auction. In addition, the unique Hall and Hall partnership model creates a teamwork approach that helps to assure that we realize true market value on auction day.  For more information on our auction services contact Scott Shuman at (800) 829-8747.

APPRAISALS - Staying abreast of ancillary market influences in ever-changing economic conditions requires a broad professional network to tap into. Finding an appraiser who not only understands the numbers but also the differences in value from one area to another is a critical part of making an informed decision. The appraisal team at Hall and Hall, formed entirely of Accredited Members of the American Society of Farm Managers and Rural Appraisers (ASFMRA), has that critical network of brokers and lending professionals. This professional network coupled with diverse experience across multiple regions and market segments allows our appraisal team to deliver a quality product in a reasonable timeframe.  For more information contact our appraisal team at (406) 656-7500.

SPECIALIZED LENDING - Since 1946 Hall and Hall has created a legacy by efficiently providing capital to landowners.  In addition to traditional farm and ranch loans, we specialize in understanding the unique aspects of placing loans on ranches where value may be influenced by recreational features, location and improvements and repayment may come from outside sources. Our extensive experience and efficient processing allows us to quickly tell you whether we can provide the required financing.

Competitive Pricing  |  Flexible Terms  |  Efficient Processing
Dave Roddy • (406) 656-7500 
Mike Hall or Judy Chirila • (303) 861-8282
Monte Lyons • (806) 698-6882
J.T. Holt • (806) 698-6884

Disclaimer: 

REPRESENTATION OF BOTH BUYER AND SELLER

INITIAL AGENCY DISCLOSURE PAMPHLET

ORS 696.815 (1) authorizes a real estate licensee to represent both the seller and the buyer in a real estate transaction under a disclosed limited agency agreement, provided there is full disclosure of the relationship under the agreement. Oregon Administrative Rules (OARs) adopted by the Agency provide the form and content of the disclosures and the related pamphlet. OAR 863-015-0215 is set forth below for the convenience of licensees. The material after the broken line can be copied and used as the required Initial Agency Disclosure Pamphlet. 

863-015-0215 

Initial Agency Disclosure Pamphlet 

  1. An agent shall provide a copy of the Initial Agency Disclosure Pamphlet provided for in section (4) of this rule at first contact with each represented party to a real property transaction, including but not limited to contacts in-person, by telephone, over the Internet or World Wide Web, or by electronic mail, electronic bulletin board or a similar electronic method. 
  2. An agent need not provide a copy of the Initial Agency Disclosure Pamphlet to a party who has, or may be reasonably assumed to have, already received a copy of the pamphlet from another agent. 
  3. "First contact with a represented party" means contact with a person who is represented by a real estate licensee or can reasonably be assumed from the circumstances to be represented or seeking representation. 
  4. The Initial Agency Disclosure Pamphlet shall be printed in substantially the following form: 

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INITIAL AGENCY DISCLOSURE PAMPHLET (OAR 863-015-215(4)) 

This pamphlet describes agency relationships and the duties and responsibilities of real estate licensees in Oregon. This pamphlet is informational only and neither the pamphlet nor its delivery to you may be construed to be evidence of intent to create an agency relationship. 

Real Estate Agency Relationships 

An "agency" relationship is a voluntary legal relationship in which a real estate licensee (the "agent") agrees to act on behalf of a buyer or a seller (the "client") in a real estate transaction. Oregon law provides for three types of agency relationships between real estate agents and their clients: 

Seller's Agent -- Represents the seller only; 

Buyer's Agent -- Represents the buyer only; 

Disclosed Limited Agent -- Represents both the buyer and seller, or multiple buyers who want to purchase the same property. This can be done only with the written permission of both clients. 

The actual agency relationships between the seller, buyer and their agents in a real estate transaction must be acknowledged at the time an offer to purchase is made. Please read this pamphlet carefully before entering into an agency relationship with a real estate agent. 

Duties and Responsibilities of an Agent Who Represents Only the Seller or Only the Buyer 

Under a written listing agreement to sell property, an agent represents only the seller unless the seller agrees in writing to allow the agent to also represent the buyer. An agent who agrees to represent a buyer acts only as the buyer's agent unless the buyer agrees in writing to allow the agent to also represent the seller. An agent who represents only the seller or only the buyer owes the following affirmative duties to their client, other parties and their agents involved in a real estate transaction: 

  1. To exercise reasonable care and diligence; 
  2. To deal honestly and in good faith; 
  3. To present all written offers, notices and other communications in a timely manner whether or not the seller's property is subject to a contract for sale or the buyer is already a party to a contract to purchase; 
  4. To disclose material facts known by the agent and not apparent or readily ascertainable to a party; 
  5. To account in a timely manner for money and property received from or on behalf of the client; 
  6. To be loyal to their client by not taking action that is adverse or detrimental to the client's interest in a transaction; 
  7. To disclose in a timely manner to the client any conflict of interest, existing or contemplated; 
  8. To advise the client to seek expert advice on matters related to the transactions that are beyond the agent's expertise; 
  9. To maintain confidential information from or about the client except under subpoena or court order, even after termination of the agency relationship; and 
  10. When representing a seller, to make a continuous, good faith effort to find a buyer for the property, except that a seller's agent is not required to seek additional offers to purchase the property while the property is subject to a contract for sale. When representing a buyer, to make a continuous, good faith effort to find property for the buyer, except that a buyer's agent is not required to seek additional properties for the buyer while the buyer is subject to a contract for purchase or to show properties for which there is no written agreement to pay compensation to the buyer's agent. 

None of these affirmative duties of an agent may be waived, except #10, which can only be waived by written agreement between client and agent. 

Under Oregon law, a seller's agent may show properties owned by another seller to a prospective buyer and may list competing properties for sale without breaching any affirmative duty to the seller. Similarly, a buyer's agent may show properties in which the buyer is interested to other prospective buyers without breaching any affirmative duty to the buyer. 

Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent's expertise. 

Duties and Responsibilities of an Agent Who Represents More than One Client in a Transaction 

One agent may represent both the seller and the buyer in the same transaction, or multiple buyers who want to purchase the same property only under a written "Disclosed Limited Agency" agreement, signed by the seller, buyer(s) and their agent. 

When different agents associated with the same real estate firm establish agency relationships with different parties to the same transaction, only the principal broker (the broker who supervises the other agents) will act as a Disclosed Limited Agent for both the buyer and seller. The other agents continue to represent only the party with whom the agent already has an established agency relationship unless all parties agree otherwise in writing. The supervising principal broker and the agents representing either the seller or the buyer have the following duties to their clients: 

  1. To disclose a conflict of interest in writing to all parties; 
  2. To take no action that is adverse or detrimental to either party's interest in the transaction; and 
  3. To obey the lawful instruction of both parties. 

An agent acting under a Disclosed Limited Agency agreement has the same duties to the client as when representing only a seller or only a buyer, except that the agent may not, without written permission, disclose any of the following: 

  1. That the seller will accept a lower price or less favorable terms than the listing price or terms; 
  2. That the buyer will pay a greater price or more favorable terms than the offering price or terms; or 
  3. In transactions involving one-to-four residential units only, information regarding the real property transaction including, but not limited to, price, terms, financial qualifications or motivation to buy or sell. 

No matter whom they represent, an agent must disclose information the agent knows or should know that failure to disclose would constitute fraudulent misrepresentation. Unless agreed to in writing, an agent acting under a Disclosed Limited Agency agreement has no duty to investigate matters that are outside the scope of the agent's expertise. 

You are encouraged to discuss the above information with the agent delivering this pamphlet to you. If you intend for that agent, or any other Oregon real estate agent, to represent you as a Seller's Agent, Buyer's Agent, or Disclosed Limited Agent, you should have a specific discussion with him/her about the nature and scope of the agency relationship. Whether you are a buyer or seller, you cannot make a licensee your agent without their knowledge and consent, and an agent cannot make you their client without your knowledge and consent.

NOTICE: Offering is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classifications, acreages, carrying capacities, potential profits, etc., are intended only as general guidelines and have been provided by sources deemed reliable, but whose accuracy we cannot guarantee. Prospective buyers should verify all information to their satisfaction. Prospective buyers should also be aware that the photographs in this brochure may have been digitally enhanced.