# Another high priced farm



## CowboyRam (Dec 13, 2015)

Here is another high priced farm. Although it does have two houses and several other building on it. It also very close to town. It does appear that all the equipment and the livestock go with it.

http://www.haydenoutdoors.com/land-for-sale/riverton-hay-farm


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## Teslan (Aug 20, 2011)

Where you are do the ditch companies have to do a lot of legal work to protect the water rights? Our ditch company spends about $200k a yeah in legal fees for engineering expenses, legal fees to keep cities from stealing water rights.


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## Vol (Jul 5, 2009)

CowboyRam said:


> Here is another high priced farm. Although it does have two houses and several other building on it. It also very close to town. It does appear that all the equipment and the livestock go with it.
> 
> http://www.haydenoutdoors.com/land-for-sale/riverton-hay-farm


Is other comparables in the area also bringing $10K per acre? That seems very high.

Regards, Mike


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## NewBerlinBaler (May 30, 2011)

Couple of comments come immediately to mind:

1) This is Wyoming so most of your neighbors probably have 10,000 acres that they only paid a few hundred thousand dollars for a few years ago.

2) Those houses seem pretty "Plain Jane" to me - especially for that price. Looks like housing the hired help would stay in.

3) Funny that the first photo that comes up in the ad is an irrigation ditch. You'd think the lead photo would be one of the houses or perhaps some of the outbuildings. I guess the realtor felt those structures wouldn't impress a potential buyer.


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## Vol (Jul 5, 2009)

NewBerlinBaler said:


> 3) Funny that the first photo that comes up in the ad is an irrigation ditch. You'd think the lead photo would be one of the houses or perhaps some of the outbuildings. I guess the realtor felt those structures wouldn't impress a potential buyer.


Actually, that is the most valuable photo.....water is "life" in Wyoming. You grow very little without it.....many places in the Cowboy state have annual rainfall of about 12 inches or less.

Regards, Mike

https://wrcc.dri.edu/cgi-bin/cliMAIN.pl?wyrive


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## Teslan (Aug 20, 2011)

These days the lead picture should be a drone shot of the farmland since the houses and buildings aren't a huge selling point. Remember also they are including a whole line of equipment and a cattle herd of which isn't detailed. Here when I try and find a price to list a farm at with homes I try and find comparable homes with maybe 2-5 acres and get those values. Then find sold comparables for just farmland in the case with irrigation. Then add the two together. Then in this case add the value of cattle and equipment. There you would get a possible listing value to present to the seller. So for this area that property would be worth maybe $600k for the two houses. And at about $6500 an acre for 210 acres would be $1,360,000. Add the $600k for a total of $1,960,000. Then add the equipment and cattle to get to your $2,200,000. Not so unbelievable for here. But then I don't know the condition of the houses, equipment or cattle. Another huge factor is the water rights also.


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## Vol (Jul 5, 2009)

Teslan said:


> So for this area that property would be worth maybe $600k for the two houses.


That is unreal to think that those two homes are worth 600K. I could build both here for about 1/3 of that.....they appear very small.

Regards, Mike


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## Teslan (Aug 20, 2011)

Vol said:


> That is unreal to think that those two homes are worth 600K. I could build both here for about 1/3 of that.....they appear very small.
> 
> Regards, Mike


I'm talking about here where I live. Which makes that farm seem not to be crazy priced to me. My wife is showing a property about 4 miles from us right now with a 1972 modular and 7 acres priced at $375,000. I suspect in Wyoming its significantly less. Heck 100 miles from here near Sterling Colorado it is a lot less. I don't know if those homes are right next to each other or across the farm on this farm in WY either. Here if they were close to each other on the same lot they would be worth much less. This farm if it was located here would also be worth much less then if it had pivots on it. If it doesn't have any ready infrastructure for pivots it would cost a lot to put pivots on it I suspect putting pivots on a farm costs no less there then here.


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## CowboyRam (Dec 13, 2015)

Teslan said:


> Where you are do the ditch companies have to do a lot of legal work to protect the water rights? Our ditch company spends about $200k a yeah in legal fees for engineering expenses, legal fees to keep cities from stealing water rights.


I really don't know, but I would think they would have to. The canal we are on just had a settlement with the tribes because someone on behalf of the ditch company changed the river years ago; way before we come here, and of course we are paying for that.



Vol said:


> Is other comparables in the area also bringing $10K per acre? That seems very high.
> 
> Regards, Mike


Well in the past they have had some five acre building sites that they were trying to get $50,000 per building site, so that would make them $10 grand per acre. As far as farms I have not seen any that high. Maybe if something near Lander, or Dubois.



Vol said:


> That is unreal to think that those two homes are worth 600K. I could build both here for about 1/3 of that.....they appear very small.
> 
> Regards, Mike


No, I would say those homes are no where near worth 600K, and yes they are small. I would guess that they are not much more than 1000 square feet each. They are also fairly close to each other, maybe within 300 yards or so.

I think that the land would be much more valuable if it was broke up into a bunch of five acre building sites.


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## Teslan (Aug 20, 2011)

Real estate prices are local. To me or someone from say CA would think that was downright affordable. A neighbor just sold his 80 acres, fairly nice house, 2nd small farm house, small milking parlor, fences for $2.5 Million. House by itself and 5 acres is worth about $500,000 though. The buyer was from CA and then did some major renovations to the milking barn and pens as well as built a new lagoon. I thought that $2.5 million was a lot. But to this guy it probably was cheap.


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## Vol (Jul 5, 2009)

Teslan said:


> Real estate prices are local. To me or someone from say CA would think that was downright affordable. A neighbor just sold his 80 acres, fairly nice house, 2nd small farm house, small milking parlor, fences for $2.5 Million. House by itself and 5 acres is worth about $500,000 though. The buyer was from CA and then did some major renovations to the milking barn and pens as well as built a new lagoon. I thought that $2.5 million was a lot. But to this guy it probably was cheap.


Definitely local.....here, acreage on the river I live on brings about 25K per acre for raw land.....but I live in the crowded east....I did not expect to see land in Wyoming for that price unless it was in Jackson....where it would bring even much more.

Regards, Mike


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## haystax (Jul 24, 2010)

CowboyRam said:


> Here is another high priced farm. Although it does have two houses and several other building on it. It also very close to town. It does appear that all the equipment and the livestock go with it.
> 
> http://www.haydenoutdoors.com/land-for-sale/riverton-hay-farm


Lol! If that guy gets his price I might list my farm with him!

What does legitimate farm ground bring in your area?


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## CowboyRam (Dec 13, 2015)

To be honest I am not really sure, have not really been keeping tract of it.


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## Bgriffin856 (Nov 13, 2013)

That's not really to bad compared to some I've seen listed around certain parts of the country. Cattle and equipment details would be nice

Simple math with they give you that's a little over six tons of hay per acre

Cheap taxes too


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