Possible APS Compound

[RoadKingLarry]

Now here is a possibility for the APS freehold compound.

http://news.yahoo.com/waggoner-ranch-among-us-largest-223003722.html

[vaskidmark]

Appears to come with serfs and nobles to keep the serfs generally in line.

I'm in for ten bucks!

stay safe.

[Northwoods]

I'm in.  Prob could qualify for $100k loan.

[230RN]

$1400/acre, figuring an offering price.

Ten bucks buys you 311 square foots.

I'd go for that if there was an oil wellhead on it.

[vaskidmark]

$1400/acre, figuring an offering price.

Ten bucks buys you 311 square foots.

I'd go for that if there was an oil wellhead on it.

What do you mean "if"?

I'm in first, so I get first pick of what spot to claim.  This is no Quaker Oats Yukon land distribution scheme - leastways it better not be.  http://articles.mcall.com/2008-04-29/features/4064347_1_yukon-act-quaker-oats-yukon-territory

(My grandmother paid to register the deeds my sister and I pulled out of those round boxes.  Back around 1976 or so I "settled" for $10 to sell mine to clear title to some company that wanted that and the acerage surrounding my mini-homestead.  I'm pretty sure my sister would have also jumped on the $10 offer.  I tried to declare capital gains but because I never paid for anything there was no gain - just added the $10 to my income - which for the only time in my life did not bump me into the next higher tax bracket.)

stay safe.

[charby]

Don't worry Ted Turner will buy it and shut down any resource exploration.

[Tallpine]

$1400/acre, figuring an offering price.

Seems awfully high for ranchland 

That's about the going rate for a 20 acre homesite around here.

[lupinus]

For a small fraction of that we could buy our own private island.....

[Tallpine]

I can't remember the name of it  but there's a big ranch in NE New Mexico that is so remote that it has a small village of native stone buildings.     I think that they even have their own post office.

We drove past it one time.  It sits way off the highway just barely visible from the road.  Later I read an article about it in Western Horseman or someplace ....

[Brad Johnson]

Waggoners neighbor us to the east.  The heirs have been figthing amongst themselves for decades.  More than a few attorneys owe a significant portion of their practice to the squabble. That they finally came to an agreement is an honest-to-goodness miracle.

$1400 is pretty steep for rangeland, even premium grazing acreage.  $875-925 is more with the market.  Throwing in the significant number of structures and facilities justifies the price a little but it's still high by a couple hundred an acre.

Good land, though.  Plenty of hogs, coyotes, and deer in addition the the grazing and crop land.

Brad

[230RN]

Seems awfully high for ranchland  

That's about the going rate for a 20 acre homesite around here.

Not just "ranchland" and not just a "homestead."  There's a lot of goodies on it, and there's an income stream associated with it.  I would guess on something that large, bought when it was bought, it comes with the water and mineral rights.  I would also guess it's all titled, and not just grazing and mineral leases 'n such.

And you get the "privilege" (by virtue of isolation) of shooting whatever(!) you want whenever you want, wherever you want.

A subdivider might drool over the opportunities it would provide.

And it's almost its own State. <grin>

I don't think just "$/ac." is a meaningful reflection of true market value.

But, it's been a long time since I dealt with Farms and Ranches, and never since I dealt with Texas Farms and Ranches.

Terry

[Brad Johnson]

Presume the minerals rights will be retained by the current owners.  It's very unusual in this part of the country for mineral rights to be sold with a property.  Too much oil and gas underpinning this area.   There are several very productive well fields on Waggoners.  If the minerals were included the price per acre would be well into five figures.

Brad

[230RN]

I'm guessing the other way.   Either of us could be wrong or both half right.  But both guessing, from the information available without going into the detailed listing... or their books.  I am sure that at that level of a transaction, they had a very competent market analysis. 

BTW, the asking price was over $1400/ac., I just picked the 1400 as a settlement price for the purpose of figuring how many square foots my $10 would buy.

Terry

[Brad Johnson]

No guessing.  $1400 an acre is a high-end asking price for minerals-retained ranchland in this area.  Very high end, but still not unheard of for premium property if the seller is a little over-ambitious in their pricing.  Sold price in this area is $900-925 for rangeland sans improvements. They have facilities everywhere - barns, housing, pens, feedlots, etc. - so it's feasible they have enough improvements to average a couple hundred an acre. 

When I say they have several producing oil fields I'm talking hundreds of wells, no just a couple.  Their mineral income is well into the double digits of millions.  It would take a lot more than an extra one or two hundred an acre to convince them to sell.  Even if it weren't a piss-poor business decision, several of the heirs are simply too damned greedy to agree to it.

Brad

[230RN]

OK. That information not available to me from this end.  Let's lowball it at $800 per and see if they'll counter.   

[erictank]

$1400/acre, figuring an offering price.

Ten bucks buys you 311 square foots.

I'd go for that if there was an oil wellhead on it.

In that case... (counts on fingers) ... I'm in for $192.93.

[Brad Johnson]

OK. That information not available to me from this end.  Let's lowball it at $800 per and see if they'll counter.   

One could only wish...

Brad

[HankB]

It spreads over six counties . . . hmmm . . .

I would guess a creative owner could pretty much set up his own county-level government(s) . . .

(And six of us could become sheriffs!!)

[Ben]

(And six of us could become sheriffs!!)

Who could then make the rest of us deputies so we can legally carry everywhere in the country. 

Though with that big of a spread, I think I could find plenty of stuff to do without having to travel. Fishing and hunting and four-wheeling every day sounds pretty fun. :)

[41magsnub]

Don't worry Ted Turner will buy it and shut down any resource exploration.

It's funny because it's true...

[Brad Johnson]

Not only does it spread over six counties, it also has a big adz lake (Kemp).  Well, when it fills again it'll be big.

Brad

[Ned Hamford]

Put me down for a 1k share 

[vaskidmark]

Put me down for a 1k share 

Well, if we are starting to get serious here --

I'll see your $1K.

Now, how do we crowd source the balance without letting the donors get a share?

I think I've got it!  We say we are going to turn the place into a nature concervancy!  We're buying it to keep the property natural.  (As in, "just the way it is".)

stay safe.