The first two quarters of 2012 have been the strongest in the history of Fay Ranches, Inc. We surpassed $100m gross sales from 25 transactions on July 12th, the earliest we’ve ever passed this milestone.
What does this mean? We’re not entirely sure, but I am going to attempt to answer that question.
The past four years have been tough, but things seem to be improving. We’ve been hesitant to speak openly about how well we are doing because of how fragile the domestic and international landscape is. We’re having a hard time trusting what appears to be the beginning of a recovery. But the signs are there. Barring any cataclysmic events, such as the European Union imploding , we believe we’re in the initial stage of a recovery in the ranch real estate market. The highest quality ranches, priced competitively, are selling. We have also seen a few multiple offer situations for the first time in years.