Ranch Land, Herd Size, Drought and Water Rights


Ranch Land, Herd Size, Drought, Ground Water, and Water Rights 

Irrigated Farm Land, Cattle Ranches with Water Rights listed and sold here.Much of Nevada land is public owned lands. Nevada has the most public lands in the continental United States, much of it is managed by the BLM or Bureau of Land Management. Water Rights on Ranch land in Nevada is our most precious resource.

Many Nevada Ranches have BLM range land leases for grazing livestock. For instance, you can own 1000 acres and have grazing access to 40,000 acres through these lease arrangements. There are a few important considerations when shopping the ranch land market and leases. Are the water rights owned, is the land contiguous to the leases?

Range land condition and shared occupancy matter also. Are there wild horses on the ranges? While wild horses are beautiful and an American heritage, they can be very hard on the range land and compete with livestock for the food and water resources on the range land.

Water and drought are coming to the forefront in terms of farm and ranch land purchase considerations. Cattle herds are being sold off today due to lack of water and feed in much of the United States. This will lead to a shrinking supply of beef at your grocery store and of course higher prices.

Alfalfa hay supply is in very tight demand with rising prices. Relative to world population arable farm land continues to shrink.

Today it is not just drought that worries farmers and ranchers, ground water aquifers have begun to come into question. Falling ground water tables and regulations coming out of Washington DC’s EPA  are making some farm land useless. Investing in farm and ranch land continues to be a focus of some of Wall Street’s brightest investors.

Just as mineral rights are important to mining and oil companies, water rights are paramount to farmers and ranchers. However, if there are no minerals or water in the ground, rights matter not.

This area of real estate is specialized; it requires a special set of skills and market market knowledge. Issues like critical water shortages, range land quality, AUM regulation, basin allocation, water table stability, etc.

If you are interested in investing in farm or ranch land or you are considering a career in agriculture, you must be prepared. I will be happy to help you understand the important questions you need to be asking.

Chris W. Miller

Independence Realty
435-862-5951
702-733-9337

Nevada Water Rights

Land in Nevada

Nevada Ranch Properties

Lincoln County Land Market

Mesquite NV Real Estate Market

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Water Shortages, Water Rights and Nevada’s Great Basin Water


The Great Basin is unique when it comes to water because the rivers have no outlet to the sea. 

  

It is made up of many smaller drainage basins.   

There is a complicated system of hydrology below the very interesting geology and topography of fractured, tilted plates of the Earth’s crust, that make up the Great Basin. Often referred to as Basin and Range because those tilted plates create mountain ranges that run from north to south. As the Earths crust stretched, cracked and tilted, it created large dry valleys or basins between the ranges. These basins can be compared to bowls that collect the snowmelt off the mountains. The alluvial fans are like great sponges, absorbing the meltwater into the ground. The snowpack is the primary recharge for the aquifers.   

Nevada and the Great Basin is divided by the Nevada State Engineers Office into 256 ground water basins, some are “designated basins“. Designated basins, when it comes to water, may only be open to additional allocations for preferred uses, like municipalities for additional pumping.   

Scientists are and have been measuring water table levels, spring flow rates, and precipitation for many years. We know pumping affects water table levels. We know the average precipitation, but then that is history. Today drought is in the news and many scientists believe more drought is likely in our future, due to climate pattern changes taking place. Future recharge rates are speculative.   

They know the maximum consumption allowed by the existing recorded water rights. Not all basins are decreed and some additional rights could be out there and are not recorded but valid. Domestic wells are generally not considered, no permit is required to drill a domestic well, and they are limited to two acre feet per year in consumption.   

The terminology of Hydrology seems very complicated, at least for this layperson. The science, like most science attempting to make future projections is speculative, especially the flows between the many basins and the aquifer recharge rates. New discoveries in all science fields rewrite what we thought we knew as fact, everyday.   

Unfortunately, we may not have the answers to some of the most important questions until the water tables have dropped and the Seeps and Springs are gone. The scientists can not tell us when the flow rates of Seeps and the Springs may slow, or even dry up. The truth is they can only speculate. They do not know how drought will affect recharge rates of the aquifers, and they certainly do not know how long or severe the drought may be. There is far more that science is unsure of, than there is that can be actually guaranteed.   

July 27, 2010 at the Aspen Institute’s Environment Forum, Former U.S. Secretary of the Interior Bruce Babbitt at the “Hot and Dry: Water in the West and the World,” told the audience,   

given all the hyping in the national and local and regional press.”  hard to believe“Water scarcity is an issue, not everywhere, but in some regions. The American Southwest is not one of those regions where there is water scarcity. It’s

  

This is right in line with Pat Mulroy’s statement when she said, “The hyperbole (hyper exaggerations) coming from rural Nevadan’s about their water table concerns was childish.” You have to wonder what motivates Mr. Babbitt to say such a stupid thing, but then Pat Mulroy was also on the three person panel with him, and they were in Aspen Colorado. A poster child for conspicuous consumption and environmental lunatics. These are people who would like to tell you how many children you are allowed to have, and how large your carbon footprint can be, as they fly off in their private jet. They are asking for more of your dollars in the form of Obama’s Green stimulus money. Watch the forum videos!   

They have already spent $ 80 Billion Dollars on Green stimulus bailout, and by the way, Harry Reid is claiming credit for the few short term jobs in Nevada this money created in his political race against Sharron Angle.   

Southern Nevada Water Authority has proposed a pipeline from Las Vegas through Lincoln County and continuing into White Pine County on to the North. The Las Vegas Valley water district, now SNWA, filed 146 ground water applications in 1989 for undeveloped, unproven ground water in Eastern Nevada. This spark has lit the fuse for the battles to come. They do not at this time have approval for the water needed to supply this pipeline.   

The Colorado River Compact allows Las Vegas 400,000 acre feet of water from Lake Mead. On average, one acre foot will supply two homes per year. A study by the Scripps Institution of Oceanography in San Diego said there’s a 50 percent chance that Lake Mead, could run dry by 2021. In the last ten years Lake Mead has dropped from around 1200 ft. to below 1100 ft. today. At 1050 ft. Hoover Dam will stop generating electricity, and at 1000 ft. Las Vegas will lose the lower intake for the city‘s water supply.   

Currently Lake Mead (The Colorado River) supplies 90% of the water to the Las Vegas Metro area. The Colorado River serves Arizona, California, Colorado, Nevada, New Mexico, Wyoming, Utah, and Mexico, over 30 million people live in this region. We now know that based on the twenty year river flow study leading up to the Colorado River Compact in 1922, the river was over allocated by one million acre feet when the compact was signed and the shortage has only become worse.   

The NASA/German Aerospace Center Gravity Recovery and Climate Experiment (Grace) study has found since 2003 the aquifers for California’s primary agricultural region the Central Valley and its major mountain water source the Sierra Nevada have lost nearly enough water combined to fill Lake Mead, America’s largest reservoir. This area represents nearly one sixth of all the United States irrigated land and the dropping water tables have the potential to have huge implications to the US economy.   

None of this news is new , in fact the warnings have been ignored for over one hundred years. Panelists Bruce Babbit, Pat Mulroy, Sandra Postel and The Aspen Institute’s Environment Forum are apparently more interested in advancing their agenda than dealing with facts and truth.   

John Wesley Powell told the International Irrigation Congress in Los Angeles in 1893,  

water to supply the land.”  sufficient“You are piling up a heritage of conflict and litigation over the water rights, there is no

  

Many, many scientific studies today are clearly confirming his thoughts.  

I wonder what John Wesley Powell would think today?   

How limited are your water resources?  

Southern Nevada Water Authority, Las Vegas Water Shortage


Is Las Vegas Running out of Water? Southern Nevada Water Authority’s Water Problem    

May 26, 2010 I attended the Southern Nevada Certified Commercial Investment Managers (CCIM) Chapter monthly meeting at the Rio in Las Vegas. I went for one reason, the title and speaker,     

“How You May Be Impacted by Nevada’s Water Supply” presented by Pat Mulroy.    

Mrs. Mulroy is the general manager of Southern Nevada Water Authority.     

As a long time real estate professional who specializes in agricultural land with water rights in Nevada, I talk with Nevada’s farmers and ranchers’ everyday; I was shocked by the introduction.     

The lady introducing Mrs. Mulroy said about her, among other things,  how wonderful she is, how hard she works, how powerful she is, and then she said, “and something I’ll bet none of you know about her, She HATES COWS”.     

Nevada Water Rights
Dangerous Beasts

 

Mrs. Mulroy took the stage and went on to say “anything that dumb and big has to be dangerous” referring to cattle. The friendly crowd of men and women dressed in suits and ties laughed.     

I on the other hand, immediately took umbrage, and thought to myself, I wonder if this lady realizes where the food in the grocery store comes from.     

I took notes the whole time she talked.     

Her presentation seemed to me to be based on the fear factor.     

She talked about snow pack in Colorado this past winter being at 67% of normal. She talked about continuing drought conditions. She explained that Lake Mead is running an annual deficit of approximately 2.7 million acre feet this year. There are 8.2 million acre feet coming in and 10.9 million acre feet going out.     

Mrs. Mulroy explained the Lake Mead Water  level measurements with future projections.     

But first let me give you a little history, from 1939 to 2003 Lake Mead averaged 1173 foot elevation, the high water or maximum point for Lake Mead is 1229.     

Today Lake Mead stands at about 1094. Since the canyon narrows as it descends, the water level drops faster and faster as it is over drafted, so expect the drop to accelerate.     

Mrs. Mulroy explained that at the 1088 foot elevation level they could lose the upper intake for the water supply to Boulder City and 40% of Las Vegas’s supply.     

She said, “At 1050 Hoover Dam stops generating power and that the dam supplies all of the electricity to Overton Power and Lincoln County Power.”     

“At 1000 Vegas loses the lower intake that would literally cut off 90% of the water supply to Las Vegas and all of the water supply to Boulder City.”     

She stated that, Southern Nevada Water Association  uses approximately 9.5 million acre feet per year, (that sounds like ten times too much to me) and once Lake Mead goes below 1025 there are only 4 to 5 million acre feet of water left in the reservoir.     

She said the Lincoln and White Pine Counties pipeline will start construction in 2012 if the lake goes below 1075, period!     

What makes you think they will stop in White Pine and Lincoln Counties?     

Her facts can be verified at:  http://www.snwa.com/html/wr_resource_plan.html     

Pat Mulroy said “SNWA will be utilizing all the water rights it owns or controls in the Virgin River, which runs through Mesquite/Bunkerville and the Muddy River in Moapa/Overton”.     

Work has begun on a so called third straw.   It has been referred to as a bath tub drain.     

Michael Johnson, Virgin Valley Water District hydrologist, told me years ago the aquifer that runs under our Mesquite Valley travels under Lake Mead, could they tap into it?     

She said “the hyperbole (hyper exaggerations) coming from rural Nevadan’s about their water table concerns was childish.” She went on to say “the rural Nevada farmers and ranchers are being Pig Headed.”     

She referenced a recent USGS Basin and Range study that she claims shows plenty of extra water. I have not yet located any completed study; http://ut.water.usgs.gov/projects/greatbasin/     

When I asked, she said the reason for the huge draw down or overdraft, according to a recent NASA study in California’s Central Valley was the result of farmers irrigating and lack of government regulation. New space observations reveal that since October 2003, the aquifers for California’s primary agricultural region — the Central Valley — and its major mountain water source — the Sierra Nevada — have lost nearly enough water combined to fill Lake Mead, America’s largest reservoir.     

Finally for the record, she said “there are plenty of un-appropriated water rights in Nevada and the Snake Basin is next in her sights.”     

When I questioned her on that, she lashed out at me, “Do you have a better idea?”     

She appears to me to be dead set on tapping into and draining rural East Central and North Eastern Nevada, Western Utah and Southern Idaho’s aquifers to supply Las Vegas.     

They did it to Pahrump, Nevada     

She said” If I have to set up a cot in Harry Reid’s office, I will stay until I get a permanent chair”.  I did not know Harry passed out water rights.  That job belongs to the Nevada State Engineer.     

She said to watch for a favorable Moody’s Rating Agency report coming out that should help support project financing in Las Vegas. I wonder if Moody’s knows any thing about water. Remember the rating agencies said the Mortgage Backed Securities were safe and secure too.    

She mentioned desalination, but seemed to dismiss this as a nonviable option either in Mexico or California. Eventually this will be  the only answer, once the Nevada aquifers have been depleted. It is only a matter of time.      

She may be powerful, but based on her comments, attitude and general demeanor; clearly she is not as sharp as you would expect!     

That does not mean you should under estimate her ability or determination to get this done.     

You can learn more about me by searching “Irrigated Nevada farm and ranch land with water rights for sale” on any search engine.    Written By Chris W. Miller 435-862-5951    

  • Chris W. Miller
  • Independence Realty
  • 435-862-5951
  • Land in Nevada    

    Nevada Ranch Properties    

    Lincoln County Land Market    

    Nevada Water Rights    

    Mesquite Nevada Real Estate Market

    Nevada Ranch and Farm Land with Water Rights Issues


    Are you unsure if all the hype about water and food shortages in the future is real or just?

    The science is mounting and it is not any one single cause or source. You may not buy into global warming or maybe you do and just do not believe it is man caused. Either way drought is real.

    As mentioned the science is mounting in favor of serious problems in coming decades for mankind’s ability to provide adequate fresh drinking water and food to the increasing billions of us on the planet.

    In previous blogs I have referenced National Geographic’s April 2010 Special Issue, “Water Our Thirsty World”. They clearly believe we have a problem already in many parts of the world including parts of the United States.

    A new study called, the gravity recovery and climate experiment, or GRACE shows the following.

    “Combined, California’s Sacramento and San Joaquin drainage basins have shed more than 30 cubic kilometers of water since late 2003, said Jay Famiglietti, UCI Earth system science professor and director of the UC Center for Hydrologic Modeling. A cubic kilometer is about 264.2 billion gallons, enough to fill 400,000 Olympic-size pools. The bulk of the loss occurred in the state’s agricultural Central Valley. The Central Valley depends on irrigation from both groundwater wells and diverted surface water.

    “GRACE data reveal groundwater in these basins is being pumped for irrigation at rates that are not sustainable if current trends continue,” Famiglietti said. “This is leading to declining water tables, water shortages, decreasing crop sizes and continued land subsidence. The findings have major implications for the U.S. economy, as California’s Central Valley is home to one-sixth of all U.S. irrigated land and the state leads the nation in agricultural production and exports.”

    The loss is nearly enough to fill Lake Mead, America’s largest reservoir and Las Vegas Nevada’s primary water source. The Central Valley’s major source of water comes from the Sierra Nevada Mountain Range.

    Source: University of California – Irvine (2009, December 15). California’s troubled waters: Satellite-based findings reveal significant groundwater loss in Central Valley. ScienceDaily. Retrieved May 23, 2010, from http://www.sciencedaily.com /releases/2009/12/091214152022.htm

    Next week I will be attending a luncheon in Las Vegas;
    How You May be Impacted by Nevada’s Water Supply
    Presentation by: Pat Mulroy
    General Manager, Southern Nevada Water Authority

    I will report what she has to say about our water in Nevada.

    Chris W. Miller
    Independence Realty
    435-862-5951
    Land in Nevada
    Nevada Ranch Properties
    Lincoln County Land Market
    Nevada Water Rights
    Mesquite Nevada Real Estate Market

    Irrigated Navada Farm and Ranch Land Exposure


    In an effort to improve exposure and reach a broader market Chris W. Miller is proud to announce his new association with

    Independence Realty

    Reno and Las Vegas Real Estate and Western Nevada Properties
    Leo Dupre, Broker-Owner, Independence Realty 775-691-8888
    1005 Terminal Way, Suite 155 Reno, NV 89502
    460 W. Main St #101, Fernley, NV 89408
    8275 S. Eastern Ave. #200 Las Vegas, NV 89123
    Serving Las Vegas, Reno-Sparks, Virginia City and Fernley

    My new association with these offices will give all the Nevada farm and ranch land listed with me greater exposure to the entire state of Nevada market. Properties listings will soon be available on the Las Vegas and Northern Nevada MLS systems.

    To discuss buying or selling Irrigated Nevada farm and ranch land with water rights call Chris today.

    Chris W. Miller

    Independence Realty

    Las Vegas, NV 89123

    435-862-5951

    702-733-9337

    Mesquite Market

    chris@mesquitemarket.com

    Lincoln County Land Market

    Nevada Ranch Properties

    Mesquite Nevada Real Estate 2010 Style


    A lender recently told me, 80% of the buyers he is pre-qualifying can not get a loan.

    I have a nagging fear that our real estate markets as we have known them throughout the last 70 years will not be restored until the Federation gets back to its foundation. The nation was built on principles of individual liberty, individual responsibility, and free enterprise. As a democracy we elect officials to represent us, uphold the Constitution, and follow the laws, today they appear to be doing few of these things. 

    The majority of the money currently being loaned as mortgages is government backed, through FHA, HUD, USDA, VA and in the secondary markets of Fannie Mae, Freddie Mac, Ginnie Mae. Yes a conventional bank or mortgage broker may take your loan application but virtually all the loans are being sold into these government agencies. The private secondary mortgage market has become nearly non existent at current rates. Fannie and Freddie were not designed to be slush funds for bad decisions or funded long term by tax dollars. In order for the Mortgage companies to continue to lend at current rates the US government may have to EXPLICITLY guarantee these agency (MBS) Mortgage backed securities cash flow investments. 

    The government regulations have gone from “making homes affordable” think: Bush administration, ACORN, and the repeal of Glass-Steagall, although it goes back much further in history. To today’s consumer protection laws, making it much more difficult to get a loan. When the government exits the mortgage business, rates will go up. 

    The federal reserve has spent 1.122 trillion of the 1.25 trillion given it to buy (MBS), the program is scheduled to end March 2010, along with the “Home Buyers Tax Credits”. The federal reserve can keep rates low for the banks to make huge profits on short rates but it really has limited control of the ten year and longer end of the bond markets which effect mortgage rates more directly. 

    2.8 million Foreclosures hit the market in 2009. Fitch ratings have warned that in the next twenty four months another one half trillion dollars in prime, Alt-A, interest only, option arms, and sub prime mortgages will adjust or recast and many of these are middle and upper middle class families. Creating unsustainable payment shock for millions more Americans and millions more foreclosures. Distress in real estate tends to lead to more distress, and finding a bottom may involve unemployment numbers. 

    RealtyTrac says “No End in Sight”. 

    This is ALL about unsustainable debt, consumer debt, state level debt, federal level debt, and out of control spending. 

    Back to the start, the Federation is governed by laws; states are required to balance budgets, consumers are required to make mortgage payments or suffer the consequences. Our elected officials can not save home values, they can not keep people living in more home than they can afford, they can not put people in more home than they can afford and expect them to make it, and they can not modify people into a home they could never afford in the first place. They are throwing our good money after trillions in bad money. They, the elected officials, must be held accountable for bringing our children’s nation to the brink of bankruptcy. 

    When the dust finally settles and the unrealized losses are all on the books, the wealth effect in dollars lost will be staggering beyond any numbers currently being discussed, the effects will last generations. These losses will show up in places like pension funds of all kinds, 401k plans, other retirement accounts, sovereign wealth funds, and many of the world’s governments. States with budget deficits and falling tax revenues will be asked to cover more and more of the federal debt burden. 

    None of this is good for the current home price market today or tomorrow. The median price home sold in Mesquite during the forth quarter 2009 dropped to $192,063 or $118 per square foot.  The median priced condo sold for $75,000 or $70 per square foot, and the median priced town home sold for $108,000 or $78 per square foot. 

    Ego, greed and monetary policy have taken us down the wrong path. Government intervention and efforts to manipulate the market created the environment for the crisis to occur; now it threatens to prolong and deepen the damage. We as a country must quit spending money we do not have, buying homes we can not afford, and curb government spending programs. And until we as a nation get back to a free and open market, principles of individual liberty, individual responsibility, and free enterprise,   I believe recovery is unlikely. 

    Real recovery can only begin with honesty at every level, at home, in business, and most importantly at the government level. In my humble opinion we have little chance of any real sustainable financial recovery until we accept these facts and principles and then, act on them. 

    Expect real estate values to continue to drop more in 2010 due to the massive amount of distressed inventory of properties sitting out there and coming to the market. 

    Chris W. Miller  has 33 years in the real estate industry, was trained and worked as a financial advisor for Morgan Stanley Dean Witter and currently specializes in Irrigated Nevada land  with water rights with ERA Brokers Consolidated in Mesquite Nevada. He can be reached at 702-346-7200 or chris@mesquitemarket.com

    Food, Water and Real World Issues, Copenhagen’s Missing Ingredient


    When the well runs dry

    Las Vegas depends on Lake Mead, the Colorado River for its water supply. So do the other six states that are parties to the  Colorado River Pact of 1922.   California grows much of the produce you eat.


    The Ogallala

    has been over drafted for the last 60 years and it will not last forever. From the North Plains District,
    The Ogallala Aquifer within the boundaries of the North Plains Groundwater Conservation District is declining at an average of 1.74 feet per year (1,082,631 acre ft).
       Could the well run dry and if so what next?

     
    Can they conserve and save it?
    The Memphis Alluvial  along the Mississippi River is being over drafted to the extreme in places, who would have thought this part of the country would have water issues.

    Washington State certainly gets plenty of rain how could they have water problems? Yet
    Washington State has an aquifer in trouble.

    While they argue about global warming at the Copenhagen Global Warming conference and the politicians figure out cap and tax, our ground water,
    our aquifers,
    are in trouble all over the country.

    Water rights in Nevada are owned as an appurtenance to the land.

    If you would like to learn more about Nevada Ranch land and Nevada’s Irrigated Farm land market,

    Chris W. Miller specializes in this area of the real estate business, this is a specialized Business.

    Dedicated Land Professionals with the Answers You Need.

    Nevada Land opportunities in Irrigated Farm and Ranch Land with Water Rights.

    Water Rights For Sale on Irrigated Nevada Farms and Ranch Land

    1200 Acre Ranch with Live springs and Water Rights

    4.5 sections, 17 Wells, 18 Pivots Irrigated Farm

    2000 Acres Irrigated, 10 Wells, Nice Nevada Farm Land

    1000 Deeded, 33,479 Acre Grazing Lease Cattle Ranch With Water Rights

    266 Acres, 821 Acre Feet of Ground Water Rights, BLM Grazing Leases

    These are a sampling of the types of Nevada Ranch properties available. For more information on Nevada Farm and Ranch Land Call Chris

     

    Chris W. Miller

    ERA Brokers Consolidated

    Mesquite NV 89027

    702- 346-7200

    435-862-5951

    Mesquite Market

    chris@mesquitemarket.com

    Lincoln County Land Market

    Nevada Ranch Properties

    Southern Nevada Water Authority Pipeline Links


    For those of you interested in understanding some of the supply and demand issues around Water Rights in Nevada and the Colorado River Basin, as well as geo political wrangling, here are some links. If you would like own some Nevada Ground Water Rights, you need to call me, I have some very nice farm and ranch land listed with water rights.

    California Recruits Water-Saving ‘Heroes’ as Drought Drags On

    Experts offer grim water outlook for NV, CA

    Climate change to strain Colorado River

    Lake Mead, Key Water Source For Southwestern US, Could Be Dry By 2021

    Historic Colorado River Streamflows Reconstructed Back To 1490

    Welcome to “The New Normal”

    The Water Information Program

    Colorado River Interim Guidelines for
    Lower Basin Shortages and Coordinated Operations
    for Lakes Powell and Mead

    Current Colo. River Basin dry spell could be worst in 500 years

    Basin

    STUDY SHOWS CURRENT DROUGHT BAD BUT NOT THE WORST UNLV 2004

    Future Of Western U.S. Water Supply Threatened By Climate Change

    Climate Change Means Shortfalls In Colorado River Water Deliveries

    American West Heating Nearly Twice As Fast As Rest Of World, New Analysis Shows

    Colo. River pact updated

    PIPELINE PLANS: Judge kills water ruling

    ‘Owens Valley is the model of what to expect’

    Great Basin Water Network

     

    Nevada ruling could burst Las Vegas pumping plan

    As you can tell there is plenty of science and opinion involved in these discussions. One thing seems clear to me, we are using or soon will be using more water than we have available. The opportunity to purchase irrigated farm and ranch land is today. The chances this land with water rights is going to get any less expense in the seems very slim.

    Today’s Investors are buying water rights. Who is buying these Water Rights?

    Water Rights  laws and use are complicated, yet many parcels with water rights are available today, some at very reasonable prices.

     Chris W. Miller is a Nevada Farm and Ranch with Water Rights Specialist
    at ERA Brokers Consolidated Mesquite, Nevada

    702-346-7200 or 435-862-5951
    ERA Brokers Consolidated
    Mesquite NV 89027

    Mesquite Market

    chris@mesquitemarket.com

    Lincoln County Land Market

    Nevada Ranch Properties

    City of Mesquite Spends $1,717,000 on Land With No Appraisal


    City of Mesquite Recently Purchased Land for New Library Mesquite Nevada Commercial Real Estate Market, information every investor should know. The City of Mesquite just closed on a prime parcel of land on Mesquite Blvd to build a new library.

    The City of Mesquite could use a nice new shiny library with all the bells and whistles. They paid $1,717,000 for 3.22 acres, that is 140,263 square feet or $12.24 per square foot. So much for the $20 a foot the market has been asking for years for Mesquite Blvd frontage.

    Reports are no appraisal was required by the buyer, the City of Mesquite.

    Who spends nearly two million tax dollars without the benefit of a professional opinion of value? I am surprised The City of Mesquite can even do that legally.

    There is one more commercial land sale to report in the past twelve months through MLS. It was a quarter acre sold for $92,500 or $8.85 a square foot, located on Hafen just south of the Maverik the gas station. This sale was nice street frontage and would have been used as a comparable in my opinion.

    Not only are the City of Mesquite elected officials out of control, so is the city manager, who played down any need for a professional second opinion of value.

     What the heck, it is just our tax dollars they are spending anyway, RIGHT?

    Chris W. Miller

    ERA Brokers Consolidated

    Mesquite NV  89027

    702- 346-7200

    435-862-5951

    Mesquite Market

    chris@mesquitemarket.com

    Lincoln County Land Market

    Nevada Ranch Properties

    Water Rights Sale Inked


    Recent water rights sale transactions in Nevada includes 35 shares of Virgin River surface water. There are about 10 acre feet per share under the Virgin River Share arrangement in the Mesquite and Bunkerville irrigation system. 

    “In 1961 water shares in the valley were worth $14 per share and you were a damn fool to buy them” stated Cecil Leavitt, a Virgin Valley board director. He went on to say “Today they are worth more than the land”. 

    The final sale price for the 35 shares was $2,801,968 or about $80,056 per share. That translates to over $8000 per acre foot  for surface water rights. 

    The surface water is not currently used by the buyer of the rights, Virgin Valley Water District as drinking water. Construction of a water treatment plant to purify the water will be required for the local rate payers to see any beneficial use from the purchase. 

    There are few reasons the district would go ahead with the purchase now, except the fact that if they did not buy the shares now, Southern Nevada Water Authority might. Once they are owned and headed to Las Vegas they would never be available in the Virgin River Valley again. 

    This story will play out across Nevada over and over in the next few years. Basins are being closed to additional allocations, additional permits are being denied. What currently exists will only increase in value. Demand continues to grow from domestic growth to agricultural needs and uses. 

    Funny to hear “you would have to have been a damn fool to pay $14 a share in 1961, and it just sold for over $80,000 “. 

    While few had the foresight then, the future of water rights in Nevada seems very clear today. What do you think they will be saying in another twenty years? 

    Chris W. Miller is a Nevada Irrigated farm and ranch land specialist; most of his currently listed properties have water rights. Call Chris today for more information. Ref:Mesquite Local News Oct. 22, 2009

    Chris W. Miller

    ERA Brokers Consolidated

    Mesquite NV  89027

    702- 346-7200

    435-862-5951

    Mesquite Market

    chris@mesquitemarket.com

    Lincoln County Land Market

    Nevada Ranch Properties