Houstonians cowboy up: Ranch sales soar

 

By Jenny Agee-Aldridge

Forget the beach. Why not buy a ranch? This is Texas after all.

A master-planned development in Washington County is marketing its ranch properties to Houston executives with great success. Washington County, which includes quaint towns such as Brenham, is roughly an hour and fifteen minutes north of Houston — just close enough to serve as a weekend escape for Houstonians.

Houston-based Wolff Cos. has sold 627 of its 847 acres in the first two phases of its Gates Ranch Community, and recently opened phase three, which includes an additional 627 acres, to accommodate growing demand.

The average lot size in the deed-restricted development is approximately 70 acres. Properties range in price from $14,250 to $17,750 per acre.

“We believe the long-term trend of Houstonians looking for a weekend getaway or a second home that eventually will become a primary residence will continue as more Baby Boomers approach retirement age,” said David Hightower, executive vice president and chief development officer at The Wolff Cos.

Until recently, the company had only sold one ranch in 2009 to James Dunlap, the former president of Texaco USA, but the tide, along with the local economy has turned.

“We are obviously very pleased with the sales we had last year and the activity that has continued into this year,” said Hightower. “The recent economic downturn created a level of uncertainty that dampened the demand for second-home purchases, creating a lot of pent-up demand. However, as we have seen, that pent-up demand has been released.”

Hightower purchased a Washington County ranch in 1972. David Wolff, developer of the property, also owns a ranch north of Brenham.

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