Neighborhood of the week: Equestrian centers and sporting ranches

Americans have had an infatuation with and passion for horses since the founding of our country. The equestrian culture and lifestyle has a significant impact on our national, state, and local economies, including the real estate market.

According to a study commissioned by the American Horse Council Foundation, there were 9.2 million horses in the United States in 2005. 4.6 million Americans were involved in the industry as horse owners, service providers, employees, and volunteers. 2 million people owned horses, and the horse industry had a direct economic effect on the U.S. of $39 billion annually.

There are horses in every state; 45 states have at least 20,000 horses. More than 70 percent of horse owners live in communities of 50,000 or less - like Coeur d'Alene.

Sotheby's International Realty, one of the world's most prestigious names in real estate with more than 800 offices in 61 countries, realizes the importance of marketing and presenting lifestyle properties. Their lifestyle categories include country living, equestrian, farm and ranch, golf, historic, lakefront, and mountain.

According to Steven Kopke, a Realtor with Sotheby's International Realty, Sotheby's lists approximately 1,800 equestrian properties around the world, ranging in price from $500,000 to $125 million. Currently, approximately 60 of those are located in the state of Idaho.

Contrary to popular opinion, you don't have to live in the middle of nowhere to own your own piece of equine paradise. Just 10 minutes from downtown Coeur d'Alene is a 600-acre equestrian center that has only changed hands twice since being homesteaded by the Kelly family in the late 1800s.

"You look at all this history and it's amazing," said Lyssa Kopke, also a Realtor with Sotheby's International Realty.

This unique property once housed a dude ranch, and was later developed as an equestrian retreat for the Van Camp family, said Steven. Mrs. Van Camp built a 12-stall barn for her horses; a tack room, paddocks, and indoor and outdoor riding arenas have since been added.

"When she built the indoor arena back in the day, she was way ahead of her time," Steven said.

Equestrian properties vary greatly in size. Prices will also vary, depending on the acreage, location, and facilities. This 600-acre property, for example, includes a 4,500-square-foot main home, 1,800-square-foot caretaker's home, eight-bay shop, and several barns, and is listed for $7 million. It borders thousands of acres of National Forest land as well as the Canfield Mountain trail system, offering endless riding and four-season recreation opportunities.

According to Lyssa, approximately 27 horse properties, 8 equestrian style, have closed in the Coeur d'Alene MLS system since January 2013. There are approximately 190 horse properties, 10 equestrian style, in all shapes and sizes currently active in the Coeur d'Alene MLS system, waiting for you to explore them.

A new trend is emerging, where existing farms and ranches are being repurposed into "sporting ranches." Private firms are buying overgrazed land and renovating it, restoring riparian habitat, and building lakes and stocking them with trout, and then making it available to investors to hunt, fish and play on. It's a new concept for an investment fund; investors consider these properties viable alternatives to the financial market, investing in tangible assets that are in limited supply and offer ideal recreational opportunities.

Sotheby's tracks sporting ranches in their farm and ranch category. A prime example of one such property is a 2,900-acre former cattle spread 30 minutes from Lewiston, with five miles of Snake River frontage.

Located at the entrance to Hells Canyon, this property offers incredible recreational opportunities such as biking, canoeing, fishing, hiking, hunting, rafting, riding, and swimming. Residents see Bighorn sheep, mule deer, upland game birds, salmon, and steelhead.

In addition to the 4,948-square-foot lodge, there is a 2,000-square-foot caretaker's quarters, boat ramp, and natural lagoon. The river delta and growing conditions are perfect if you're interested in starting your own vineyard. From the natural lagoon, you can explore the nearby Clearwater, Grand Ronde, and Salmon rivers by jetboat. And you can't beat the sunsets.

The Kopkes love people, places and the history that draws them together. "We look at all this history and it's amazing," Steven said. "Selling real estate is telling a story."

So, if you've been dreaming of owning an equestrian property in the mountains of Idaho, or are interested in a new type of investment opportunity, contact Steven and Lyssa Kopke at (208) 819-2375 for more information on available properties.

If there's a neighborhood that you'd like to see featured in this series, please contact Beth Hanggeli at (208) 659-8367 or bhanggeli@cdapress.com.