Ron Morris, Ranch Marketing Associates broker and founding partner, was recently quoted in a story on the sale of the Stagecoach Ranch in the Colorado Real Estate Journal. Ranch Marketing Associates handled the sale. Check out the full story below.
by Jill Jamieson-Nichols
A 596-acre ranch that was the setting for a 1960s Western film sold to a Texas buyer for $2 million.
Randy Phillips purchased the Stagecoach Ranch 1 1/2 miles from Texas Creek primarily for recreational use and also will run some cattle on the property, according to Ron Morris of Ranch Marketing Associates, who handled the transaction. The ranch, which features lush meadows, rock outcropping and foothills, was used in the movie “Cat Ballou.”
The property includes a 4,100-square-foot main house, 2,000-sf caretaker/guest house, detached recreation/conference room, storage buildings and a horse barn. It also comes with an adjoining 25,000-acre U.S. Bureau of Land Management winter grazing lease.
Golden Arrow LLC and Eagle Mountain Investment Group LLC were the sellers.
Capital Farm Credit in El Campo, Texas, provided financing for the acquisition.
The ranch is the third sale that Ranch Marketing Associates has done in the last month. Other sales include an 8,000-acre property in Oregon and the Republic River Ranch, a 5,600-acre ranch in Wray.
Morris said ranch sales volume was down this year as a result of the same poor economic conditions that have impacted other real estate, but sales still are occurring. The company just put one ranch under contract and received two offers on another.
“It’s been a buyer’s market, and so I would say negotiations have been difficult,” he said. Yet sellers who are willing to negotiate can make deals, he said, citing the Pine Ridge Ranch in Durango, which was listed at $6.9 million and sold in August for $6.8 million.