It is vital for all known forms of life, even though it provides no calories or organic nutrients. Water covers 71% of the Earth’s surface, mostly in seas and oceans. Small portions of water occur as groundwater, in the glaciers and the ice caps of Antarctica and Greenland, and in the air as vapor, clouds, and precipitation. Approximately 70% of the freshwater used by humans goes to Agriculture. Why am I telling you this and people are always asking me why I am obsessed with water. It is because it is rare, taken granted for, polluted and thought by many as a unlimited commodity. It is not an unlimited resource and that is why whenever I get a farm/ranch listing with water I make a big deal out of and it is priced higher than non water ground. Boone Pickens has said that the last major fight on this earth will be over water. This last Tuesday’s (12-10-2018) WSJ had a fabulous article on water and how Harvard’s endowment fund has purchased thousands of acres in California at above prices. They then drilled deep-water drills and began planting vineyards. They were willing to pay a premium for land that had good access to groundwater. With the earth’s warming it is making the resource that much more valuable. Harvard likes the natural-resources asset class “because we believe its physical products are going to be in increasing demand in the global economy over the coming decades.” In a warming planet, few resources will be more affected than water, as more-frequent droughts, storms and change in evaporation alter a flow critical for drinking, farming and industry. When grapes are harvested, about 75% of their weight is water. Owning vineyards effectively turns water into revenue.
In summary I am constantly telling my clients and investors to look for water on property and be willing to pay the extra cost and to be happy for you and your children and your children’s children that they will have access to water. It is worth the extra cost and clean water also offers so many recreational activities. Look at my web site for some of these properties. One just listed is the River Dream property which has about 1/3 mile on the crystal clear Meramec River near Steelville. This is the type of property to look at as is the Eagle Pines Equestrian Ranch near Lonedell that has a beautiful 20+/- acre lake on it. Call or write with questions or to visit. My next blog will be on the government and water rights. All very interesting.