House of the Day: Ranch Has Both Style and Location for $5.5M

There's been a hefty price drop on Colorado's North Star Ranch, which came on the market in 2009 at $6,250,000 and is now $5.5 million.

When it comes to the luxury ranch market, buyers frequently must pick between a fabulous house with acreage that is less-than-fabulous or land to-die-for and a call to their favorite architect. What's so appealing about the North Star Ranch is that it's got both a terrific house and 265 acres that straddle more than 1.5 miles of river in one of southern Colorado's better locations.

First the house: The 4,048-square-foot Mediterranean-style house, completed in 2008, has master-craftsman-level Old World charm. A magnificent entryway leads to an expansive great room with a vaulted ceiling and old hand-hewn beams. French doors lead to the central outdoor patio that features a fire pit and Viking grill. Large picture windows, in the words of the listing agent, "frame still-life compositions of nature" in every direction. No argument here.

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The master suite has views of the Spanish Peaks. The master bath comes with Moroccan tile, a step-down double shower and a hand-carved vanity. There is a private outdoor shower, as well, and the master closet, a walk-in, is made from reclaimed materials.

There are floor-to-ceiling bookshelves and a corner fireplace in the library.

The devil is in the details, though, and the attention to detail in this house is what makes it such a standout. There are hand-crafted doors, reclaimed white oak rafters, trusses and flooring, hand-carved mesquite cabinets and vanities, and flagstone flooring.

They had us at the house, but the land is pretty spectacular too. The property is situated off the Highway of Legends in the Cuchara Valley in southern Colorado, known for its breathtaking geology, including the Spanish Peaks and the Dakota Wall. There's a 10-stall horse barn, a 110-by-220-foot indoor arena built in 2007 and a guest casita. There's also a 2,800-square-foot caretaker's residence with five bedrooms.

The property is listed by Jeff Buerger with Hall and Hall Real Estate.

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