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UPDATED: Price Slashed on Val Kilmer’s Pecos River Ranch

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Actor’s ranch, listed in 2009 for $33 million, now going for $23 million on Craigslist.

By Susan Montoya Bryan

The Associated Press

Actor Val Kilmer has dropped the asking price of his Pecos River Ranch by $10 million.

The 5,328-acre ranch includes several miles of the Pecos River, more than 10 natural springs, miles of hiking and riding trails through forests of towering ponderosa and pinon trees, wildlife and a seven-bedroom, 11-bathroom, 11,573-square-foot house along with guest quarters.

“It is very special and there is really nothing like it, just to have that much river frontage and that much acreage,” said Darlene Streit of Santa Fe Realty Partners, the listing agent for the property. “Mr. Kilmer worked very hard to pull all of this together. It was really a labor of love and there’s just nothing like it.”

The new asking price: $23 million.

The property first went on the market in early 2009 for $33 million, but a Craigslist ad last week and the listing on Streit’s website features the lower price.

Streit would not comment on why Kilmer lowered the price, but she said she believes the property is priced well and there has been out-of-state interest in the listing.

Aside from the sprawling adobe ranch house and the picturesque cliffs along the river, the property is bordered by the Santa Fe National Forest. It’s about 22 miles from Santa Fe and eight miles from the town of Pecos in San Miguel County.

Part of the property once belonged to the late actress Greer Garson and her husband, Texas oilman Buddy Fogelson.

Kilmer, who has lived in New Mexico more than two decades, has had the ranch for more than a dozen years.

He tried previously to sell large chunks of it but without success.

Despite trouble in the real estate market in other areas of the country, Streit said Santa Fe has a good volume of sales, and low-interest rates have helped encourage prospective buyers.

“What we’re finding is prices are sort of holding their own, but people are able to bargain. I think it’s a great time to buy,” she said.

Asked whether Kilmer would be willing to bargain, Streit declined to comment.

Earlier this year, Kilmer won approval from the San Miguel County Commission for a plan for the Pecos River Ranch to open three guest houses to paying customers.

Commissioners gave Kilmer the go-ahead, but not before he went before the commission to make amends with some of his neighbors who were angry over disparaging comments attributed to the actor over the years. He explained that his words had been twisted and that he hoped residents recognized he regretted the impact the comments had.

Kilmer has starred in movies including “Tombstone,” “Top Gun,” “Batman Forever,” “The Doors,” and most recently the comedy “MacGruber.”

Will the star power help draw more attention to the ranch?

“I’m sure it will,” Streit said, “but it’s just very special all on its own.”

 

 


 

Tuesday, 26 October 2010 07:16

 

Actor Val Kilmer has dropped the asking price of his Pecos River Ranch by $10 million, the Santa Fe New Mexican reported.

The 5,328-acre ranch with a 10-bedroom, 10-bathroom, 11,573-square-foot house, was put on the market in early 2009 for $33 million was selling for $10 million less on a Craigslist ad last week, The New Mexican said.

Neither Darlene Strait of Santa Fe Realty Partners, who posted the new ad, nor ranch manager Pam Sawyer responded to The New Mexican’s messages seeking comment.

But real estate agents said the market for high-end ranches, like other housing, remains soft, the paper reported.

Kilmer recently won permission to open three guest houses at the ranch, which is located about 22 miles from Santa Fe, after the San Miguel County Commission heard the actor explain controversial remarks he’d made about the area to two national magazines, The New Mexican said.

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