Pause

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The sunshine made its debut for Mother’s Day just as the day began to draw to a close. It immediately beckoned me outdoors where I paused to remember how lovely the light is at the end of the day. Hedges were trimmed in our neighborhood this weekend, grass was mowed, and dare I say, the mooring field is looking slightly more occupied. I am anxiously awaiting the summer to arrive. Upon my outdoor exploration, I was reminded of how much I adore this darling historic home (captured above) down the street from us. She also happens to be on the market and would make an excellent summer escape. See the listing, here.

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Cowboy Moguls

photoI caught up on Friday’s WSJ accompanied by an epsom salt bath and tea. I was especially drawn to the article discussing the strong demand for mega ranches in the U.S. – those with typically over 100,000 total acres (with often a substantial portion of deeded acreage) listed from roughly $10 million to $175 million. (Find your mental map of the U.S. and think about New Mexico – this is where the ‘cowboy moguls’ are mostly flocking to). In the fiscal year of 2014, the value of U.S. pasture land normally grazed by livestock rose 11%, making property with revenue streams highly desirable. With drought conditions slowly on the upswing, higher cattle prices, a boom in the oil & gas industry and attractive interest rates on mortgages, ranches that have been sitting on the market are starting to sell.

In 2012 for instance, Billionaire Stan Kroenke, (owner of St. Louis Rams and soccer’s Arsenal F.C), scooped up the 124,000-acre Broken O Ranch in Montana for a cool $132.5 million. Head due south, and D.R. Horton (founder of America’s largest home building company) purchased Great Western Ranch in New Mexico for over $59.5 million, where he hopes to use the 293,000 acres as a landscape to entertain clients and made available for use by his ‘key employees’. Despite the alluring qualities of entertaining and sporting on the majestically vast land, there is certainly keen interest in investing in an asset that can aid in profitability, whether it may be fracking and mineral rights, livestock operations or fees from wildlife hunting. Those billionaires might be on to something…

Read on, here. 

 

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Hard Hats with LKRE

CareyschoolLast Friday, I joined the Libby Kirwin Real Estate (LKRE) team for a tour of their latest collaboration with builder Behan Bros, Inc., and developer, Arch Street Development LLC. In the midst of construction, (hence the hard hats), The Carey School Residences will transform any notion one has had of Newport living. If you have been privy to Libby Kirwin’s Renovation and Design Consulting business (LKRDC), you’ll know that her team’s eye is fresh, edgy, functional and always one step ahead. They have single-handily taken the stale air out of real estate. That approach is alive and well with this project.

With a team comprised of a renowned builder, developer AND listing agency-meets-design consultancy, you’ll want to keep tabs on this project. The structure was once an elementary school, and while some original architectural elements will be preserved, it is gracefully morphing into what will be 13 units of condominiums in prime Newport locale. Floor plans will range from a one bedroom unit to penthouse units with views of Newport Harbor and beyond. Finishes will be classic Newport but with an industrial sophistication. Get LKRE on speed dial for the latest on the listing.

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