Ranch sales take off as Houstonians look for an escape

 

By Jenny Agee-Aldridge

As the city becomes more dense with people, traffic and buildings, some Houstonians are purchasing ranches in the country to escape. It’s a trend that will likely grow. The Wolff Companies is banking on it.

In less than a year, Houston-based The Wolff Cos. has sold eight sites at its Gates Ranch master-planned development in Washington County, about 70 miles northwest of Houston. Eight sites in a year may not seem like a lot, but when you consider they had only sold one other since 2009 to James Dunlap, the former president of Texaco USA, it’s obvious the tide has turned.

The average lot size in the deed-restricted development is 70 acres. The properties range from $14,500 to $18,000 per acre, or roughly $400,000 to $2 million per farm. The total development is 1,500 acres, with property in the first two phases about 70 percent sold. Phase 3 will open in the summer.

Why the sudden rush on ranch property? David Hightower, executive vice president and chief development officer for The Wolff Cos., said several factors are at play.

“The economy in Houston has been good for a while and now people are beginning to feel more secure about it. You combine that with the fact that high-quality properties are becoming hard to find and you have your answer,” Hightower said.

Also, customers are often reluctant to be the first to buy in a new development.

“It’s not like flying on Southwest Airlines, where you want to be the first in line to get the best seat,” he said.

Hightower has had a good seat for a while. He purchased his Washington County ranch in 1972. David Wolff, developer of the property, also owns a ranch north of Brenham.

“So many of my friends in real estate and in the oil and gas industry have done this, and we are going to see more and more baby boomers retiring and moving out of the city into the country,” Hightower said.

He also foresees people with flexible jobs, who don’t have to be in the city every day to work, taking advantage of country living.

“With today’s technology, FedEx and UPS, people don’t have to be in Houston every day to conduct business. They can have an apartment or townhouse that they live in the city for three days a week and be in the country the rest of the week,” he said.

The range of people buying in the Gates Ranch varies. A homebuilder lives there full-time and commutes back and forth to Houston a couple of times a week. A husband and wife who are both practicing medicine in Houston and have small children will use their farm as a weekend getaway. One retired couple wants open space to raise longhorn cattle.

The Grand Parkway also plays its part of the trend.

“It lets people get out of town quicker,” Hightower said.

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