Diamond Springs Ranch Selling with all existing ground and surface water rights.
Approximately 1000 Acres Deeded Land
Turn key cattle ranch operation, two irrigation pivots in alfalfa, 33,479 acre BLM allotment with 2120 AUMs good for 250 head summer range. Surface and ground water rights owned multiple ponds and stock tanks, hay barn, calving barn, heated shop, equipment storage, three homes. Includes all the existing farming equipment and tools. Quality Nevada agricultural land.
Artesian springs and recently drilled wells provide abundant water supply for irrigation and animals.
If you have dreamed of the western lifestyle and your cattle ranch, this may be it. "Use quality materials and build it to last" was this rancher's motto and it shows all over. This ranch is in excellent condition and very clean. Bring your cows and start your new lifestyle. Deer, Elk, Antelope all can be seen from time to time on the ranch.
Much more specific information on water rights, current leases, BLM allotments, gallons per minute, etc is available for the serious future owner of Diamond Springs Ranch. Nevada farm and ranch land with water rights available around the state.
As the baby boomers consider their future and their options, some are going back to the basics. The idea that they can be independent is very appealing to many. They recall the days when their grandparents lived closer to the land.
A slower time when sipping tea on the porch in a rocking chair was an afternoon ritual. Raising a garden for the fresh vegetables, having a small orchard that produces bushels of fresh fruits, and chickens that lay farm fresh eggs daily.
Nevada land is available to build the dream and lifestyle. Nevada offers an excellent moderate climate, and no state income taxes.
For many future retirees, a monthly trip to town for supplies will be all the traffic they will face. Some will raise a few cows, for fun and food. Some may raise a hog or have a flock of peacocks, guinea hens, or geese.
Riding their four wheelers or horses, they will spend their days exploring the thousands of acres of public lands in Nevada. Traveling the old roads from one old west ghost town to the next old mining ghost town.
Some will take up new hobbies, adding work shops and studios to their farms for the creative side they left back in the 60's. Some will build green solar homes and have wind turbines, adding power back to the grid for a change.
Many will spend their winters relaxing in the warmth of a pellet stove.
For many of the baby boomers this new lifestyle will be a healthier, slower, more fulfilling time of their life. A time when they can relax and let the world go by. The idea of self sufficiency is not only appealing it is attainable. Nevada farm irrigated farm land with water rights.
New trends give a clear view of where the market is going. Mesquite Nevada MLS recorded a total of 65 residential closings during the first quarter, 22 of these were bank owned or short sales 33.8%. 207 residential listings were submitted and 247 went out of the system as failed listings.
We closed a total of 41 single family homes and 13 of those were bank owned or short, the 13 distressed home sales averaged $111 per square foot. Of the 41 closed single family homes was 24 existing or resales at $122 per foot, 17 new homes at $162 per foot.
There are already 20 resale home listings available at Sun City Mesquite. The Mesquite MLS only recorded a total of 7 closings during the first quarter at the new Pulte Del Webb project, that includes new and resale homes, those 7 sales averaged $159 per foot.
8 condominiums closed at an average of $99 per foot, 15 town homes closed at an average price of $118 per square foot, and 2 vacant residential building lots sold. 3 homes sold and closed in Bunkerville and they averaged $93 per square foot.
On March 31, 2009, at the end of this past quarter 44% of the pending transactions in the Mesquite MLS were listed as distressed properties, either REO or short. Failed listings which are still out and most must be sold sooner or later exceeded pendings on a 5 to 1 basis this past quarter; many will turn to distressed properties.
Based on the past quarter sales and the current active listed properties there are 22 months of single family homes, 46 months of condos, 19 months of town homes, and years worth of building lots. It looks like there is on average about a two year supply sitting on the market, plus another year's worth of inactive and vacant.
At this time around 255 of the 430 active listings are listed as vacant, about 60% are sitting empty, no cash flow.
There are still many people living in homes they can not afford and they are under water. A wave of distressed properties, yet to come to the market.
While many agents, the government, and the media spread the rumor that the market is improving! Buyer Beware has never rang louder.
There are 13 commercial buildings and 16 commercial land parcels actively listed for sale and many more available but not listed. No commercial buildings or land closed. While it is hard to measure, it looks like there is well over 300,000 square feet of vacant commercial office/retail/industrial space sitting vacant.
The City of Mesquite building department issued 6 permits for new commercial buildings and 19 permits for residential buildings during the first quarter 2009.
The typical buyer profile coming to Mesquite today is a far more cautious and conservative retiree. They have been slapped hard with the reality that neither the stock market nor the real estate markets always go in one direction. Many have seen a huge chunk of their nest egg disappear in both markets.
The current environment has them in fear of their financial future, out living their savings. Uncertainty about government spending, bail outs, health care costs, rising cost of living (inflation), income stability and net worth are all potentially paralyzing for buyers.
There seems to be an uneasy sense with the retirees that the government is reaching too deeply into the pocket of our capitalist free enterprise system. There is little security anywhere. It is affecting consumer sentiment and confidence.
The market correction is far from over and for Mesquite it is a reality check. If we are to attract the greener more conservative baby boomers we will need to adapt.
Affordability, efficiency, and value will have to lead us out. What worked over the past ten years, business as usual will not cut it. This is not unique to Mesquite, most every business model out there is changing the way they do business or like our auto industries they will be reorganized.
After the high flying years of loose money and bad decisions, deleveraging is taking place. Asset values are falling and this will continue until the market gets back to fundamentals that work. Vacancy rates will not go down until business can afford the rents. Buyers will not buy homes they can not afford.
Debt to income ratios must get back to closer to 28% and 35%, or prices in the range of 2.5 to 3.5 times annual income. As we have seen, 5 times annual income as a purchase price generally does not work. Debt is strangling the entire economy.
This melt down of the financial system is all about excessive unmanageable debt, over leveraged, and wildly over valued assets. Consumer sentiment or confidence is not the cause; it is the artificially inflated values. Lower prices and market stagnation are the results we are seeing.
Affordability is not a concept, it is reality. Mesquite Nevada has a bright future and the current market is beginning to create opportunities for knowledgeable buyers.
For square footage numbers in specific neighborhoods, questions, or comments
In real estate when you hear the term "value" people generally assume that means the price. Price and value often are synonymous.
When it comes to luring the baby boomers to make the commitment to settle down in a new home town and
change the direction of the rest of thier life, value becomes far more complicated than just price.
Value has a number of definitions.
Fair price is one. Value is also defined as; an estimation of the worth, merit or character of something, having admirable or
esteemed qualities or characteristics, highly regarded, worth in usefulness or importance to the possessor.
Some of these have nothing to do with price. Value takes on another dimension when it encompasses how people feel about personal security,
and feeling secure about their future. It is easy to make the case that value is tied to price when you consider retirement income and future financial security.
"Maybe it is time to consider living dangerously. Maybe it's time to reject the commands of power, the dictates of society and public opinion, and to stop worrying about what other people think about what you do. You have the power and ability to create your own reality — to change what isn't working and to manifest what you desire." — Dick Sutphen
Some people value this approach to life while others will dismiss it.
Perceived value depends on what really motivates the individual.
Greed drove the speculative booms, fear is motivating more people today. Fear subsides with security. For many of the currently retiring generation
a sense of security is trumping the "keeping up with the jones" syndrome. Some will cling to the snobby, false impression that dollars equal value,
but for most, the BMW's and McMansions are less valuable for the sole purpose of impression, given the real cost. It is a great illusion of value.
When the real price may actually be peace of mind and security.
Less stuff and a more conservative approach has more value if it equals peace of mind. Savings equal security.
The term deleveraging is about less debt. Less debt works. Less debt offers a sense of accomplishment, peace of mind and security.
Living on less than we have verses beyond our means, offers a high level of satisfaction and security. Remember security equals less fear.
And what other people think becomes nearly meaningless in comparison.
So what does all this have to do with the price of real estate? Perceived value includes lifestyle, location, security, and affordability.
Real security comes to those who don't have a mortgage. Will this generation embrace this?
So what is the price when Real Value may be about how well you sleep at night.
Irrigated Nevada ranch land with water rights. Roughly 1600 acres of flat irrigated farm land with ten wells, all tied together in a quality system of wheel lines and pivots. Good dirt, no rocks, potatoes have been raised here before, currently in mostly hay and some grain for seed.
Located at 4550 elevation in the Red House Flat area of Humboldt County, Nevada below Adams Peak in the Osgood Mountains. Rural farm life set in a beautiful valley surrounded by snow capped peaks.
Irrigated Nevada Ranch Land
This farm operation is as clean as any you will find. Improvements include 3200 square foot shop and four residential buildings, currently occupied by the ranch hands.
Today in the Mesquite Nevada real estate foreclosure and short sale market, one in every eight active residential listings is either a foreclosure or a short sale. There are 387 active residential listings and 52 are listed as short sale or bank owned foreclosure.
On the pending side we are seeing a trend developing in Mesquite Nevada foreclosures, out of the 31 currently in pending or "under contract" status, 10 are shown as bank owned foreclosure or short sales, one out of three.
Month to date 8 out of 19 pending residential units in the Mesquite Nevada MLS are listed as short sale or bank owned foreclosure, nearly half.
Mesquite Nevada is primarily a retirement golf community. There are seven golf courses and number eight is under construction, a number of casinos, no state income taxes, and excellent weather. Mesquite Nevada is located 90 miles northeast of Las Vegas, right on the Arizona state line. The Arizona strip as it is called is the north rim of the Grand Canyon.
The proximity to Vegas and all the factors that make Mesquite Nevada so appealing to the retiring baby boomer generation, also lead to a great deal of speculative investing in Mesquite real estate.
192 of the 377 active residential listings today are listed as sitting vacant, that is over half!
Not candidates for the bail out money, those investor properties. Which leads me to believe that we will see more Mesquite Nevada bank owned foreclosures and short sale properties before we work our way through this mess.
This trend is creating a very unusual opportunity. You have high vacancy, high inventory, falling prices, great supply choices, in an area that is well positioned for extreme future demand because of the retiring boomer generation.
This very unusual combination that we have today in Mesquite Nevada real estate will not last forever.
It seems everyday someone asks me are we at the bottom?
Since I do own a crystal ball, I offer this; we will not know where the bottom was until we are past it and prices begin to rise. If you find a property today that meets your needs and is within your budget, waiting is a risk.
At some point in the not too distant future, I believe that risk will out weigh the potential benefits. Some of these sale prices today are near the bottom.
The upside potential future for Mesquite Nevada real estate is real, based on the projected retirees and what they want. Mesquite Nevada is well positioned for the future demand and growth.
We will turn a corner and for many they will have waited too long and missed this opportunity.
For those who like to point to the Las Vegas market with "We hear sales are up", the median resale single family home in Las Vegas sold for $162,999 or $96 per foot in December, according to Home Builders Research, Inc.
This number makes the 15 resale homes closed during the entire fourth quarter in Mesquite look pretty good at an average price of $248,027 or $143 per square foot. Unfortunately, this price is over 25 time's fair market rent and over five times Mesquite median annual income, not good signs.
Realistically, the Vegas number is most likely a glimpse into the 2009 Mesquite Market numbers. The storm of foreclosures is on Mesquite's horizon and moving in fast.
Mesquite MLS shows 25 new homes closed during this past quarter with an average price of $293,151 or $158 per square foot.
Sun City Mesquite had only 10 closings reported through the Mesquite MLS for the entire fourth quarter, and without adjusting for incentives the price averaged $145 per square foot or $240,827.
We closed 14 town home units averaging $129 per square foot and none above $300,000.
With nearly 100 active condo units for sale, only 5 sold and closed in the last 90 days of 2008.
The term "sticky prices" is clearly in play, but the buyers are not buying it. In other words sellers have yet to really drop prices and buyers are waiting.
No commercial sites or commercial buildings closed during the fourth quarter 2008. By my estimate there may be as much as 300,000 square feet of vacant commercial/industrial space, yet 19 new commercial building permits were taken out during 2008. Many will require new permanent financing this year and it will be a real challenge for some given the current credit markets and vacancy rates.
The residential vacant land super pad or subdivision market has gone from bank foreclosures to FDIC owned through bank failure and seizure in some cases. Based on 378 new home building permits issued for the year of 2008, including Sun City there is over a 20 year supply of building lots. These values in some cases look like they may have fallen as much as 80% from 2005 prices.
All total including every residential category we closed 311 units during 2008 compared to 706 during 2005, that is 56% less sales. At the same time inventory of listed property for sale reached an all time high with over 400.
Another telling sign in the market is the failed listings during 2008, they reached 764. They went out of active inventory as expired, canceled, or withdrawn. The problem is that they are still out there and many are vacant or due to negative cash flow, must be sold.
2009 should be a year of opportunity and challenge.
Please remember if you are planning a visit and would like to discuss the Mesquite Market call ahead to let me know you are coming so we can schedule a few minutes. 702-346-7200
The foundation set in place in the Mesquite Nevada real estate market is clear and solid for the growth and future demand. The features of the Mesquite lifestyle including the quality of living, weather, golf, gaming, taxes, the great outdoors and access to it, all rank high on the list of "must haves" for the retiring baby boomer generation.
This segment of the population is looking hard right now for balance and perspective between future lifestyle and budget, debt, future income and health care. They are re-evaluating each part of their lives and budgets to determine what is really important and what is not. For many it is a real soul-searching process. The perception changes taking place will drive the product development of the future.
Mesquite's challenge will be to offer a product to the market that includes lifestyles at a price that is affordable. At the same time Mesquite, Nevada will likely continue to become more exclusive. The excess and particularly the waste of resources of the past will be less fashionable in the future, possibly even shunned.
The turn over in the real estate market taking place today is searching for that same balance. A new awareness seems to be developing among buyers, and lenders, that living beyond your means is not the road to happiness. This will continue to put greater emphasis on conservation and afford ability.
It also leads to a new demand for more efficient, self reliant, and self sustaining housing. Solar will play a huge part in new home design and construction one day soon, as will water conservation techniques. The lack of use of solar applications by the local builders of the past has put Mesquite behind. It is an opportunity today. Utilizing available renewable, free resources is not a fad, it is the future.
While the look of a neighborhood may take a little getting use to, proper home orientation to the sun, clear story windows and over hangs are simple, cheap, and effective. This has been completely ignored by the City of Mesquite and the builders of the past, that fact won't be lost on the consumers of tomorrow.
Why pay to keep a large tank full of water, hot 24 hours a day, when the sun will heat it for free? That same warm water can be circulated through pipes in the slab that will warm the floors during the winter.
Why pay to cool a home that has blazing hot sun streaming in during the summer months or heat a freezing house without the benefit of the warm winter sunshine?
Our sun shine opportunity can be maximized to create a whole new image, adding value, creating positive attention, demand and industry. Imagine how much money we could save if we turned off 8000 hot water heaters.
For those who scoff at the idea, consider this, mankind drilled the first oil well about 100 years ago and we are already talking about peak oil! You just happened to have lived your life while it was plentiful and seemed endless, which affected your perspective. What we have taken for granted will one day be viewed as wasteful and ignorant.
Builders and developers will follow the market. The common sense of the consumers and those new perceptions about what is really important to them will drive the market. Other markets are way ahead of Mesquite in green building technology, the slow down in the building market is an opportunity for Mesquite to change direction and catch up.
Mesquite's bright future surely includes lots of that wonderful sunshine!
Mesquite NV real estate experiencedthespeculative frenzy and price run ups at close to its worst. High rates of false appreciation and flippers cashing big checks even before new homes were complete, causing market havoc. That market is gone.
Today reality has set in and prices are falling, supply is at all time highs along with vacancy rates. Builders have walked away from whole neighborhoods and some look like gold rush ghost towns.
Land values, based on the supply of build-able residential and commercial sites available are headed south at unprecedented rates. The current supply will last for years.
Mesquite NV real estate fundamentals have not changed as far as desirability, weather, location, recreational amenities, taxes, etc. Retirees will continue to migrate to Mesquite, NV.
Mesquite NV real estate market does not hinge on the employment picture like many markets because most moving to Mesquite are not arriving looking for work. They arrive looking for the golf course and a nice place to go to dinner.
As 2009 unfolds Mesquite NV will continue the current trend to find balance between the extremes of the recent past and the budgets of tomorrows retirees. Land now owned by banks will come back into the market at a new more affordable cost basis.
Competition will continue to grow, Mesquite's new home builders will continue to build and in some areas at even more affordable prices.
Smart buyers will find even better values as the market moves forward. The aging baby boomers are going to retire, guaranteeing Mesquite Nevada'sbright future.
For more information about the Mesquite Nevada real estate market or to receive a quarterly market report contact:
Upgraded Falcon Crest golf front home, located across form Falcon Ridge Golf Clubhouse. Ten foot ceilings, tile floors, upgraded kitchen, square footage, bedrooms and baths includes casita. Priced to sell in the current market market environment, please allow time for bank response. Buyers agents due diligence required regarding unfinished slope behind this home, sellers make no warranties. Offering subject to bank approval.
View from rear includes Falcon Ridge Golf Club Course House and Virgin Mountains.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Irrigated Nevada Ranch Land
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