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Equestrian estates: Home is where the hooves are
By Alyssa Abkowitz of The Wall Street Journal
Equestrian brokers, who specialize in properties where homeowners can also house their horses, often must go the extra furlong to close a deal. They not only have to please potential buyers with the property's look and size, but they also must provide suitable quarters for horses.
After years of dismal activity, the market for equestrian properties is seeing an uptick in interest, spawning a niche industry of high-end real-estate brokers who understand horses as well as houses.
One example of these properties is Holmbury Farm, an equestrian estate in southeast England. The wooded property includes stables for at least 10 horses, a tack room, a feed store and a large "period barn," among other buildings.
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Equestrian estates: Home is where the hooves are
Increased demand
At approximately 43 acres, the property includes fenced paddocks, a pasture and wooded areas. The property is listed for about $4.4 million with Hamptons International.
The London firm formed an equestrian department in 2011 and says it has seen more interest in equestrian estates listed for more than $2 million. It says prices for these properties in England have increased 3% in the past year.
"There's strong demand for properties with land and stables," says Nick Hole-Jones, head of the new department.
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Equestrian estates: Home is where the hooves are
10 acres in California
The trend has moved to the U.S., too. Equestrian brokers in Southern California report as much as a 50% increase in sales year to year.
This 10-acre estate in Carpinteria, Calif., is listed for $14.95 million with Suzanne Perkins, a real-estate agent with Sotheby's International Realty.
- Realtor.com: Find more homes for sale in Carpinteria
Equestrian estates: Home is where the hooves are
If you can lead a horse to water
In addition to the 8,725-square-foot home, the property includes fruit orchards, a vineyard and a six-stall barn, Perkins says.
Rising boarding fees in the U.S. and abroad are prompting owners to keep their horses at home. At high-end stables in the Northeast and California, monthly fees for training, housing and feeding can easily reach $3,000 per horse.
Part of that is attributed to rising agriculture prices, with oat prices up 14% from 2011 through July and alfalfa-hay prices up 5% in the same period.
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Equestrian estates: Home is where the hooves are
Villa Sevillano
Also in Carpinteria, Villa Sevillano is listed for $21.5 million. The 22-acre Mediterranean estate has equestrian facilities and a large exercise field for horses.
The main house is just over 10,000 square feet with six bedrooms. Perkins is the listing agent.
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Equestrian estates: Home is where the hooves are
Private ranch
Located in Santa Ynez, Calif., this roughly 3,200-acre property was once envisioned as a ranch community. The ranch includes an approximately 7,000-square-foot residence, several barns and a guest house.
The main home, pictured here, includes six bedrooms and seven bathrooms. There is ample space for equestrian activities, Perkins says.
- Realtor.com: Find more homes for sale in Santa Ynez
Equestrian estates: Home is where the hooves are
High barrier of entry
Perkins is listing the Santa Ynez property for $24.5 million.
One of the biggest challenges, she says, is separating serious buyers from those toying with the fantasy of owning a farm. A family may like the idea of keeping ponies in the pasture but doesn't consider where a caretaker will reside or how to catch a horse that has escaped the paddock.
For another of Perkins' properties, prospective buyers had to pay $7,000 to charter a helicopter for the day to tour the property before viewing it on the ground.
"If you couldn't pay for the helicopter, then you weren't a buyer for this ranch," Perkins says.
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Equestrian estates: Home is where the hooves are
Room to roam
This 12,215-square-foot French Provincial estate north of Ocala, Fla., is on just over 561 acres, which include a 17-stall barn, a 15-stall barn and a 12-stall barn.
There is also detached office space for a professional equestrian operation, as well as an "aqua treadmill," which is akin to water aerobics for horses, listing agent Joan Pletcher says.
Finding a suitable property can seem impossible, specialists say. At best, most equestrian-property owners find 80% of what they need and usually renovate the rest of the property, says John Friend, a real-estate agent with Houlihan Lawrence in Millbrook, N.Y.
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Equestrian estates: Home is where the hooves are
Florida living
The Ocala-area property is listed for $15.995 million.
- Realtor.com: Find more homes for sale in Ocala
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