Improved economy spurs more interest in buying Alice Walton ranches

With an estimated net worth of $33.8 billion, former cutting horse queen Alice Walton sits atop the list of wealthy Texans, according to the latest annual ranking of the world’s billionaires by Forbes.

Well, real estate agents representing the Wal-Mart heiress hope to add to those riches by roping in a buyer for one of her drop-dead gorgeous ranches west of Fort Worth.

Interest in the ranches has picked up following last fall’s election and the subsequent gains on Wall Street, said real estate brokers Mac Coalson and Allen Crumley.

Coalson said he’s even gotten inquiries from someone who’d like to buy both ranches, which would mean that they would have to dig deep and come up with about $38.6 million.

“After the election, the stock market took off and oil and gas took off and people got positive in their brain and it causes a good economy,” Coalson said. “They take risks and they spend money.”

One of the ranches is the 1,436-acre Rocking W, where Walton ran her cutting horse operation. Located near Millsap, it includes barns, stock tanks and a 4,100-square-foot home. Oh, and there’s that view of the Brazos River valley from a covered deck. Ticket price: $16.5 million.

The other luxury getaway is called Fortune Bend near Possum Kingdom Lake. At 4,416 acres, it is much bigger and has native rolling land and scenic limestone hills along with 8.5 miles of Brazos River frontage. All that, and a 4,346-square-foot lodge, is going for $22.1 million.

Walton, who now lives in Fort Worth, rolled back the prices on the properties last year when people were unsure about the future, the brokers say. Now things are different.

The stock market accelerated and put money in prospective buyers’ pockets.

Crumley, at Williams Trew, said anybody looking to buy one of these ranches “is a savvy buyer.” But he agreed with Coalson that the new economy has improved the ranch land business.

“They are still on the market and we’re showing them. We got some good lookers, just not been able to get a contract,” said Coalson, who works at Coalson Real Estate in Weatherford.

This story was originally published March 24, 2017 at 2:36 PM with the headline "Improved economy spurs more interest in buying Alice Walton ranches."