Buyers Seeking Legacy Land in Texas
February 16th, 2016 | by Michelle Eastridge
Just over the horizon, within an hour to two-hour drive of Dallas-Fort Worth, is a vast expanse of rural land that is attracting its own growing number of buyers from around the world.
Briggs Freeman Sotheby’s International Realty currently has listings of more than $1 billion in rural properties. These include some iconic farms and ranches such as the recently sold 520,000-acre W.T. Waggoner Ranch in Vernon, TX, and a vast array of small and medium size farms, ranches, hunting lodges and lake homes.
Old Glory Ranch | Aspermont, TX
Ranch highlights: Excellent game land with whitetail, mule deer, aoudad, quail, turkey, hogs, waterfowl
There has been a steady growth in rural property sales, breaking records two years in a row.
The demand for rural Texas properties is being generated by savvy investors who want a smart place to park their money while they enjoy living on a farm or ranch year-round or on weekends.
Most of the rural properties are being purchased by Texans, but being part of an international network, Ranch and Land agents are finding there is great interest in Texas land among Chinese, Australian and Mexican buyers.
Morley Ranch | Terrerll, TX
Ranch highlights: Cattle grazing and hay production, plus hunting and fishing on stock ponds and two lakes
Rural properties are proving to be good investments because Texas ranks at the top of growth in population and jobs. As a result, prices of rural land in the Lone Star State are rising. Close-in rural properties, such as a corn farm north of Frisco, are in the path of urban growth and are selling to housing developers for top dollar. Others are just outside the growth corridor, which means these horse ranches or family farms can be enjoyed for several years before becoming attractive to a high-bidding developer.
Clear Creek Ranch | Eustace, TX
Ranch highlights: Spring-fed Clear Creek runs through the middle of the property, feeding into a 25-acre lake
For more luxury homes throughout North Texas, see briggsfreeman.com. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The North, The Ballpark and Southlake.