The lure of the West, wide open spaces, and breathtaking mountain vistas have drawn settlers and modern-day folks to the Rocky Mountains -- and Eagle County -- for hundreds of years. The appeal of owning an expansive piece of property that can be used for ranching, recreation, tourism, and/or personal use continues to attract people from all over the world.

If owning your own home or purchasing land for development or ranching purposes in Eagle County is on your radar, following are insights and tips on how to best navigate the process.

While on the surface, buying a piece of land or ranch may seem simple, there are underlying issues that make it more complex.

Negotiating Factors

COVID-19 created an historic demand for land and more privacy. Price values skyrocketed and some ranches that did not sell, thinking the sky was the limit, have now been sitting for several years. With annual price increases now hovering more in the 2-5% range, some properties that showed inflated prices as a result of  Covid are now being re-valued at more realistic values. This poses an opportunity to make an offer based on key criteria – and market value. Condition, location, accessibility, upkeep, and age all come into play and can be useful tools in the negotiation process.  

Key Considerations

When looking at a piece of property or land, and anticipated costs outside of the actual land purchase, key considerations include:

• Water access
• Soil condition
• Property maintenance
• Accessibility
• Contamination
• Wetlands considerations
• Noise level
• Hunting access and permits
• ATV traffic
• Nearby developments or future developments that may affect property value and potential impacts, i.e., highway overpasses, water rights, and fishing access
• Native wildlife and seasonal impacts
• Zoning, variances, and allowable density

Home vs. Ranch

A recent client was looking for a home on a large parcel of land with views, privacy, and access to town amenities. They also needed a home that could accommodate a larger family, including space to home school four children and have a music room. In addition, the family is very active with 4H and own livestock and horses. Given their criteria, we shifted to looking for a ranch. 

We came across a 10-acre ranch on Gypsum Creek Road. While the home needed some renovation, the land and infrastructure were ideal for their needs and lifestyle, including existing water rights, amazing views, proximity to hiking and biking trails, a nearby golf course, enough space for their four kids, and land for raising and caring for livestock and horses.

This is a classic case of a family wanting to create a legacy property where the land is the priority, and the home and renovations are secondary, making a ranch purchase their ideal choice.

Selling a Ranch

Another client, on the seller’s side, has a ranch that was an inheritance from a parent.  Adjacent to Eagle Ranch and bordering BLM and Land Trust property, this Ranch property offers an ideal mix of land, views (Sawatch Range and Castle Peak) along with a modest home two cabins so there is some existing infrastructure.

The 35 acres are deeded into six separate lots, which can be parceled out and sold individually.The family wants to sell the Ranch as one property and allow a developer/investor to parcel out the lots as they wish.

This presents a potential investment and development opportunity for the right buyer. It will require some back-end work in terms of water rights, additional well access and development, and potentially working with a real estate attorney and wetlands specialist to make sure all the various legal, county and town policies are addressed. This is where a qualified broker can assist in making recommendations with vetted professionals as well as options for the best use for the property. That may mean keeping the density low to work with current zoning and neighborhood interests as well as looking at ways to create shared property amenities for homeowners such as horses and barns, fishing, and cabins, etc.

Finding a Broker

From farming and raising horses and livestock, to purchasing and subdividing land into homesites, to preserving history with a land trust, one should seek out a local and experienced land/ranch local broker who understands the nuances of purchasing, negotiating, and advising on a variety of considerations and criteria in Eagle County. There are brokers outside the market who specialize in large land acquisitions, but this can also come with added costs and delays due to lack of knowledge of the local market and approval processes. If you do go with a large land acquisition broker, ask about their local broker relationships and partnerships to help streamline offers, negotiations, appraisals, and closings.

Existing Land/Ranch Opportunities

If owning your own ranch and home on the range is on your wish list, the majority of the ranches are in mid- to lower Eagle County, including Edwards East, Cordillera, Eagle, and Gypsum. Prices vary depending on location, existing infrastructure, and amount of land. Keep in mind, that due to the more complex nature of these properties, they often don’t get listed in the MLS. This is where a local expert who has relevant contacts and knowledge is key. 

Amy Pates is a leading real estate and luxury home broker with Coldwell Banker Distinctive Properties and consecutive four-year winner of the brand’s prestigious Top Performer award since 2020.  She brings 30+ years’ experience in residential, ranch, land, and commercial acquisition, development, staging, marketing, and sales and property management. Amy can be reached at 970-977-0483 or amy@rockymountainred.com.