Mike Swan in New York Times on Investing in Land

Mike Swan, broker owner of Swan Land Company in Bozeman, Montana, as quoted in the New York Times, explains some reasons for investing in land.  The August 8th article in the Real Estate section - A Ranch With 1,000 Acres, For Your Inner Buckaroo, written by Julie Satow begins from a New Yorkers perspective:   'Most New Yorkers would barely know what to do with 1,000 square feet of space, let alone 1,000 acres. But what’s to stop us from trying to figure it out.  Buying a ranch is the stuff of childhood cowboy fantasy — riding horseback past herds of bison or standing knee-deep in a rushing stream filled with trout. And while foreign investors and tech billionaires drive the New York market, in places like Colorado and Montana, it is cattle shortages and the price of grain that hold sway."  She gathered her information for the article from several top ranch and land real estate brokers from around the country.  James Taylor of Hall and Hall based in Billings, Montana defines the different options that are available for sale in the realm of ranches – “farmland, where crops are plowed to yield a harvest; working ranches with large cattle herds that convert grass into beef; and recreational ranches, also called executive ranches or retreats.”  Satow explains how "prices for recreational ranches soared during the last real estate cycle, but plummeted when the recession hit" hence the fact that there are many recreational properties available at steep discounts.  Carole King’s ranch, the Robinson Bar Ranch in Idaho, near Sun Valley, once on the market for $19 million is now available for $9.9 million.  “If you want to spend a bit more, $24.25 million can buy you Elk River Ranch, an 800-acre property in Colorado that overlooks the Rocky Mountains and is close to big-game hunting, fly-fishing and skiing at Steamboat Resort a few miles down the road.”    Mike Swan, who specializes in the sale of farm land, cattle ranches as well as executive and luxury ranches throughout the Rocky Mountains, explains how money is being invested in land instead of the stock market.  Purchasing land is a great opportunity to diversify investments.  To read the full article, please click here.