The often overlooked TRAIL HORSE

I have seen an increase in the number of inquiries from casual or weekend riders. While competitions report a decline in entries, and showing becomes more expensive, it seems that backyard horse lovers are thriving.

And why not? There's never been a better time to buy a horse - and get the most for your money. Prices of mid-range show horses have fallen so much that even weekend Trail Riders can afford something with miles and show ring achievements. A mare with over 100 AQHA points would have likely brought $20-25k back in 2007. The owners could no longer afford to show her, so she sat in a pasture for a year, and then sold in April for $7,500.

If you are a seller, make sure you honestly evaluate your horse's potential to become a backyard pet, casual riding companion, or mount for a novice horse person. Show horses are used to routine and a regular exercise program. Not all of them will transition to a seemingly idyllic life of daily turn out and just one or two rides a week. Even fewer will relish the opportunity to explore unknown territory outside of the arena without balking.

This is a great opportunity to help your show horse stay mentally young by incorporating a trail ride or "out of arena" work into your regular program. There's a recent article in Horse & Rider where Al Dunning talks about the value of getting your horse out and about.

And, if you're looking to buy: make sure you test the horse doing whatever you plan to do, whether that be on the trails in a national park, along the beach at a remote coastal area, or down the road of your residential development. Your safety and the horse's happiness and willingness to do the job are paramount in your buying decision.

I got the chance to participate in a private trail ride at the foot of beautiful mountains in New York. My mount was a sturdy solid black gelding with good ground manners and patience. I felt confident and safe riding him along unfamiliar terrain, through streams, under branches, up hills, and around large rolling fields. He many not look like much or be a beautiful mover, but his mind made him priceless...

How is the economy affecting the value of your horse?

At Sterling Equine Appraisals, we've been hearing this question a great deal lately. It is understandable that horse owners are nervous about how the world economy will impact their individual horse operations.

The exchange rate between the US Dollar and currency of nations from which we frequently import / export horses is especially critical to a stable valuation of American horses. The Euro and Canadian dollar have all been higher than the US dollar in recent times, making horses in the United States less expensive to international parties. This is good for those in the US trying to sell their animals "north of the border" or "across the pond." However, it makes importing horses more expensive for US buyers. This is probably the most favorable time for US buyers to look within our own country for their next prospect. American farms have spent years importing the best performance and bloodstock from Europe. Take advantage of it and find a bargain in your own backyard. Shipping across the US is still less expensive than importation, even if you live near a major port or quarantine facility.

As an equestrian, you may be one of the lucky people at the upper end of the sport that is not terribly impacted by the financial situation of many. But, if you're like most of us, you ride, compete, or breed in the middle market, characterized by horses in the $25,000 to $85,000 range. This market has been significantly impacted by the tightening of the credit markets. Without easy access to home equity lines of credit or uncollateralized personal loans, including credit cards, equestrians in this realm find it harder to finance their next "dream" horse. We're seeing a rise in the number of horses donated to non-profits and schools because the tax benefits of the donation are greater than what the horse could be sold for in a reasonable period of time. Occasionally, the recipients turn around and sell these horses for a deep discount just to raise cash for their programs. We recommend that you contact some of the riding programs in your area or search on-line for horse rescue and adoption facilities.

Money Saving Tip: Ask your insurance agent to review your equine insurance policy. It is possible with the decline in the middle market that your horse may be over-valued, and therefore over-insured. You could potentially be paying a higher premium necessary.

Overall, our sense is that the horse market is still strong and interest in horses has not waned. While some may be cutting back on the distance they're willing to travel, there are still plenty of active equestrians and available horses. Sellers are also being more flexible, arranging payment plans or offering leases with the option to buy. If you are trying to sell a horse, consider how you can make it more affordable for a newcomer to get into this exciting sport. Maybe offering the first month of board free with purchase could help close a sale that would otherwise be lost when the buyer realizes the old adage, "The purchase price is the least expensive part of horse ownership." But, expect that you will hear from many potential buyers before your horse actually sells. This should not frustrate you (but it will); it should be a good time to polish your marketing and salesmanship skills.

Visit our website at http://www.equineappraisals.com/ and make sure to check out our Frequently Asked Questions page for the most up to date information and insights on the horse market. We welcome your feedback and questions on our opinions. Thanks for reading!