S2 Ep24 - Hugh Lively - a podcast by Brian Cook And Kindra Cox

On Season 2 Episode 24 of The Brian and Kindra Show, they discussed land with Hugh Lively, a realtor at Keller Williams Realty Elite in Woodward.  

One of the beautiful traits found in Northwest Oklahoma is how quickly the terrain changes in this region also affecting the price of land.  A lot of land in NWOK has been a part of the CRP program. CRP is a conservation program that limits the acres allotted to farming to lessen the usage of infertile soils. This program paid farmers to let their cropland grow grass instead of farming it, thus recuperating some of the nutrients. CRP was established that nothing could be on land for a 10 year period. However, when we get into situations where the farming population needs more hay or needs to run cattle, the government has come in and approved time frames in which the land can be used differently. 

With land, fencing is very important. Property values can be negatively affected without proper fencing. There are some ‘old cowboy rules’ when it comes to who fences belong to, but ultimately, fencing can be tricky and it’s wise to work well with one’s neighbor.  As far as crop fencing, a ranch may be divided by fences so that one can concentrate cattle or crops into different sections at different times. With the rotation of cattle and crops, land is better conserved.

Water rights, land rights, mineral rights, wind rights and surface rights are another part of land sales. In 2010 when the wind industry picked-up sellers tried to sever wind rights when the first contracts were signed. People wanted to sell land and keep wind rights, or sell the rights and keep the land which would cause a large problem. The State of Oklahoma came in and stopped wind rights from being severed from land rights. However, water rights can be severed, which can hurt the price/value of the land. There are several drawbacks to severing water rights, most commonly it happens in a rural water development if the county needs the water for their own use. Surface rights are down through the water table, including mining. 

A lot of people in NWOK want to buy land and build a house. However, it can be challenging to find land to sustain that development. Water can vary from area to area. You would first want to make sure that there is water available, then after that get it tested to ensure it’s potable. The amount of water also varies. You can get some places that are 100-150 gallon a minute wells, or some that are 2-3 gallon a minute wells. 

Brian and Kindra hope this information has been helpful to you. As always, if you have any questions or need help, please feel free to reach out to your local real estate professional.

Further episodes of The Brian and Kindra Show

Further podcasts by Brian Cook And Kindra Cox

Website of Brian Cook And Kindra Cox