Fay Ranches Sees Rising Action With Wyoming Properties

BUFFALO, Wyo., Jan. 17, 2012 /PRNewswire/ -- People are taking a serious look at quality Wyoming Ranches these days. Mike Fraley, broker associate with Fay Ranches closed just over $17M in sales on seven ranches the last eight months of 2011.

(Photo: http://photos.prnewswire.com/prnh/20120117/SF36335)

The momentum continues. "Despite this being the dead of winter, I am working with three 1031 exchange buyers, and it looks like we'll close some deals before spring," observed Fraley.

Fraley notes that a number of other ranch brokers in the area also had a record year in sales. "Many of the Wyoming properties are listed at a fair price, giving the landowner negotiating strength. Furthermore, the agricultural markets are strong, the tax structure is favorable, and people are looking for a smart place to park some cash." Most of the ranches in Fraley's transactions are located in the eastern half of Wyoming and produce income from hay or cattle production and often hunting revenue. "Buyers want to invest in quality real estate that they can enjoy recreationally, that will appreciate in value, and that produces cash flow to pay the day-to-day bills."  He believes the Wyoming ranch market reached its low point and property values are on a slow but steady rise.

Buyers in 2011 came from many directions. Fraley sold a couple of ranch properties to a ranching couple from California who have been looking exclusively in Wyoming due to the friendly tax structure and quality grazing. The story is similar for the ranch sold to a couple from Nebraska. A young man from Colorado wanted an income-producing investment that could also serve as a recreational retreat and getaway. Some of the purchases are being connected with a 1031 tax exchange. Two of the ranches were acquired by neighboring ranchers who saw a timely opportunity to expand agricultural operations.

Greg Fay, founding owner/broker of Bozeman-based Fay Ranches, observes that selling this many ranches in half a year required something else. "Mike knows farms and ranches. His knowledge of the Wyoming area and expertise in connecting the right ranch with the right owner makes a key difference."

For over 20 years, Fay Ranches has been the premiere brokerage of ranch and sporting properties in the West.

SOURCE Fay Ranches