It is a niche market, one that I have not studied enough to make a reliable prediction. I can say that it has lagged the tract home market in town as far as price reductions go. Everytime I meet a wie country person I find they don’t always fit the typical fb, they tend to be transplants in their 40’s to 60’s, with money taken out of the O.C. and S.D. markets, while others have been there 10-20 years. They tend to be more financially stable than the fb’s from town. These are generalizations and I do know there are plenty of stable owners with few places to go (these are not the kind of folk that can move to a rental easily). I have to think there are very few buyers out there and fewer coming. I think it is wise to wait longer, even though it is only a few miles away, it is a different demographic, for the most part these are not 9-5 working stiffs, like the townies. It may take longer for economic stress to set in.
Horses and land for the recreational gentleman rancher/crazy horse lady are an incredible money drain. Logic says that in these times, people will reduce expenses, making these non income producing ranches less appealing. The problem is that horse people are different, it isn’t a hobby, it’s like a cult. I understand them no more than I understand suicide bombers, the Raiders owner Al Davis or breast reductions. Some things are just too much for my little mind to grasp.
