Here's a true story. In 1985, I worked with a landowner to design a fantastic 50 acre lake. Sitting in the middle of his 1,600 acre ranch, this lake soon produced double-digit bass. The ranch is 60 miles southwest of Fort Worth, Texas, between Cleburne and Glen Rose. The owner died in 1992, and his widow kept the ranch for six years. Then, she decided to sell it. It was just too much for her to care for. She contacted three local realtors to appraise it. They looked at comparables and concluded the land would sell for $650-850.00 per acre, for that size parcel. She believed the lake would increase the value, and decided not to list it. Rather, she ran an ad in the largest papers in Texas, as well as the Wall Street Journal and New York Times. Her ad gave good details and said she would sell it to the highest bidder. Three guys ran up the bid, and she sold the 1,600 acre for $1,665 per acre. Those three wanted the lake, bad. That 50 acre lake brought at least an extra 1.3 million dollars. By the way, when the lake was built, it cost $250,000 for the dirt work.
