Photos and video / Briggs Freeman Sotheby’s International Realty
With falling oil prices, investors are betting it will be an opportune time to buy Texas ranchland, according to a report by the New York Times.
Jay Ellis of Dallas-based Sporting Ranch Capital is raising $100 million from investors to buy “trophy ranches” that owners want to sell “quickly and quietly” – as their personal portfolios fluctuate with the price of oil.
Chrystal Fall Ranch, 0 FM 283 in Eliasville, TX, has about 4,000 acres, including more than a mile of river frontage along the Clear Fork of the Brazos River. Photos / Briggs Freeman Sotheby’s International Realty
Investing in land is one of the greatest investment strategies available to build wealth. One reason is because of scarcity – we can’t make any more land. As the supply shrinks and the demand increases, the value goes up.
Hartlee Field Ranch, on 652 acres at 4105 Hartlee Field Road in Denton, offers an opportunity to own a piece of history as well an excellent investment for future development. Listed for $14,850,000. Photos / Briggs Freeman Sotheby’s International Realty
Combine a great Texas economy with low interest rates and numerous corporate relocations, and the DFW real estate market is teeming with ready buyers. Home sales are up across the board – from condos to single-family homes to ranch and land.
We asked some of our expert agents to offer some insight on how the real estate market with perform this year, and here’s what they had to say.
Q: How will the Texas real estate market perform in 2015?
A: The 2015 forecast for rural land in Texas is very strong, and demand is up from previous years. Ranches are changing hands at higher levels as sellers have come off of some very high expectations to meet buyers who seem to be prepared to pay marginally more than the last sale. I had a strong 2014, and this year is going to be even better. Unlike in previous cycles, we are seeing sustained growth.
A: After experiencing an exceptionally good 2014, we expect 2015 to be another year for positive growth. The luxury real estate market is improving in North Texas. We’re seeing more high-end homes coming on the market and more sales of luxury homes. Our clients are looking for everything from new construction to older homes with a lot of character to high-rise homes Downtown. We don’t see things slowing down, especially as we approach the Spring Market.
A: The past two years have been exceptional, and the trend toward steady growth is expected to continue through 2015, according to the predictions I have read. Interest rates should remain low, which typically fuels growth. However, low inventory will remain an issue in some Dallas neighborhoods. The leasing market will be equally competitive. The analysts say this real estate upswing can last up to six years, so it’s a good time to invest.
A: Recently announced corporate relocations are sending ready buyers our way. The $300,000-$700-000 price range is red hot for this group. As we approach Spring Market, we don’t have the rush of upper-tier buyers that we had last year. Sellers in that range really need to listen to their agents regarding pricing. Lot prices have especially increased in the high end, yet buyers aren’t quite ready to absorb the resulting 10-15 percent premium over 2014.
President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.