Welcome to the November 2011 issue of the Hill Country Real Estate Report. We hope that you enjoyed the 1st issue (October issue), and from the amount of feedback we received, we can certainly deduce that it was quite widely read. People from all over the Hill Country sent us emails with feedback on what they loved, what could use some improvement, and what kept them reading. We value all the feedback you send, and read every email. The magazine is unique, in that it’s the first magazine designed exclusively for the Hill Country real estate professional. This alone left many folks scratching their heads as to what the scope and direction of the magazine really is. As such, I’ll summarize quickly. The Hill Country Real Estate Report is the area’s first magazine that will tell you, the real estate professional, about what’s going on in your market. Who is buying, who is selling, and who is moving. You’ll learn about developments before they become public knowledge. You’ll learn something new about marketing, read an article about a featured custom builder, and read an interview with a commercial developer planning a new shopping center. It’s our mission to make this magazine your “Go-To” source for real estate news in the Hill Country. Because of its content and readership, we believe that the Hill Country Real Estate Report provides you with the most targeted and effective marketing that money can buy. If you’ve got a listing that you’re having trouble selling, odds are that there is a realtor in a neighboring county that can help. So tell him/her about that listing! Got a seller that is in trouble and needs to sell fast? Tell the entire real estate community about it! With ad packages starting at only $150/mo, you won’t find a more responsive audience than your fellow real estate professionals. Lastly, we got a lot of questions about having articles written. If you’d like to see your business or development featured in our magazine, then let’s talk about it. There is no boilerplate answer for what articles get chosen, so just give us a call and we can talk through it with you. Our mission is to highlight the wonderful people and places of the Hill Country, so we’d love to hear all of your article ideas. Thanks for picking up our 2nd issue. We hope you find this one even more informative, more engaging, and more educational. And make sure you tell your colleagues that if they’re not receiving a copy in the mail each month, head over to www.hcrer.com and fill out our free subscription box. Sincerely, Benjamin D. Schooley ben@smvtexas.com 210-507-5250
Contents 4
Realtor Feature - Arthur Mandry
6
What to know about Insurance
8
Riverbed Concrete featured on DIY show
10
Looking forward to higher appraisals
14
Builder Feature - Foster-Bowman Homes
19
Opinion / In The News page
21
Changing in Marketing
22
Blanco County joins Gillespie Jurisdiction
25
Lake LBJ sales not suffering drought
30
River Trail coming to Kerrville
32
Golden Bear to join Horseshoe Bay
34
Remodeling for the most return
36
No shortage of Ranches in the market
Send us your opinion at editor@smvtexas.com
Advisory Council Sherman D. Durst - Spent almost 30 years in the real estate industry and as the ownerbroker of Fredericksburg Realty. - Has a Bachelor of Science degree, with Teaching Certificate, from Texas State - Is a host of graduate real estate designations, including Certified Residential Broker, Accredited Buyer Representative, Luxury Home Specialist, Certified Residential Specialist and Senior Real Estate Specialist. - Sherman has served as a Fredericksburg City Councilman, a city Planning and Zoning Commissioner, as President (and VP) of the Fredericksburg Chamber of Commerce, as the first President of the Fredericksburg’s Shopkeepers Guild and on numerous other city and county foundations, historical societies and special event boards.
Brett McDowell has nearly a decade of experience in commercial finance. Brett has been active in this capacity in the Texas Hill Country since 2006. He holds a Master’s of Business Administration from Texas Tech University as well as a Graduate Banking Degree from the Cox School of Business at SMU. Brett and his wife, Ginger, enjoy traveling and outdoor activities of all types. Brett is active in the Hill Country Young Men’s Business League and the Independent Banker’s Association of Texas. He is a Senior Vice-President at HCSB specializing in: -Owner Occupied Commercial Real Estate -Non-Owner Occupied and Development Lending -Commercial and Industrial Lending -Middle Market and Small Business Banking
Jane Marie Hurst, Realtor - Director with KW Commercial. - Represents clients in the Highland Lakes and Texas Hill Country areas specifically within the cities of Marble Falls, Burnet, Horseshoe Bay, Spicewood, and Cottonwood Shores. - Jane Marie has been directly involved in the development of the mixed-use master planned communities of La Ventana at Lake Marble Falls in Marble Falls, TX and The Ranch at Delaware Creek in Burnet, TX. - Jane Marie is currently an elected City Council Member for the City of Marble Falls and appointed to the Board of Directors for the City of Marble Falls Economic Development Corporation. - Married to Steve Hurst, an attorney practicing in the area of real estate amongst other areas of the law, and they have three children: Bill, Daniel and Tory.
Debbie Vallone-Homeier, Broker - She is a licensed, professional Real Estate Broker, and manages this firm's Blanco office. - She and her husband Carl also own and operate Paragon C&D Builders, a construction company that works hand in hand with the firm's real estate operations. - Debbie specializes in Blanco County and also serves the surrounding Bexar, Comal, Gillespie, Hays and Kendall counties. - Debbie and her husband reside in Blanco. Debbie's civic activities are many, and currently include being the 2011 Blanco Chamber Secretary; 2011 Gillespie MLS Board Director; 2011 TAR Political Affairs Committee Member; 2009 Blanco Chamber of Commerce President, as well as the Visionaries in Preservation Task Force Lead, and the Wildlife Rescue Event Chairperson & Volunteer.
Brad Goebel - 1991 graduate of Baylor University with a Business Management Degree. - Real estate agent with Horseshoe Bay Resort Realty in Horseshoe Bay, Tx. - Acquired his real estate license in 1996. - Brad and his wife, Kristi, reside outside of Marble Falls, Tx. Brad has a daughter, Kylie, who is 12 years old and son, Gage, who is 2 years old.
Vic Nixon - Vic has been in the real estate business for 34 years and has lived in Fredericksburg all of his life except when he went to college. - He has a BBA from Sul Ross State University and has been President of the Gillespie Co Board of Realtors and the Jaycees. - He is a past trustee of the Hill Country Memorial Hospital.
Laura Fore - Raised in Kerrville, the Texas Hill Country has been part of Laura’s life since she was a little girl. As such, she is quite familiar with the many different neighborhoods and the offerings of each. - After receiving her college education at Texas A&M University Corpus Christi, Laura went on to work as the Administrative Manager for the #1 Real Estate Team in the Coastal Bend before “getting back to her roots” and moving home to Kerrville. - When not hard at work, Laura enjoys spending time with her family and friends, being actively involved in the art community, and traveling.
Austin Ruple - Ruple Properties, www.SouthTexasProperties.com - Specializes in ranch sales throughout the Texas Hill Country including South Texas. - Operates two offices, one in Boerne and one in Pleasanton.
2 | November 2011
Charlie Hill - Vice President, Development and Marketing DHI Investments - After graduating from the University of Texas at Austin with a BBA in finance in 2000, Charlie spent five years at Guaranty Bank in Dallas as an Assistant Vice President of commercial real estate lending and also homebuilder finance. - In 2005, Charlie joined DHI and has been actively involved in finance, entitlement, development, construction and marketing for new development projects, including Johnson Ranch, Cordillera Ranch and Ledgestone, management and leasing of three commercial properties, as well as strategic investment and finance planning for DHI.
Hill Real Estate Report Magazine is published by Schooley Media Ventures in Boerne, TX. Hill Country Real Estate Report Magazine and Schooley Media Ventures are not responsible for any inaccuracies, erroneous information, or typographical errors contained in this publication submitted by advertisers. Opinions expressed do not necessarily reflect the opinions of Hill Country Real Estate Report and/or Schooley Media Ventures. Copyright 2011 Schooley Media Ventures, 265 N. Main, Suite C, Boerne, TX 78006
1. How did you get into real estate?
I am a veteran of the retail automotive industry, having managed dealerships for the Cavender Family in San Antonio for some twenty years and eventually the Knapp Family in Houston for 12 years. My wife and decided to retire from that business in 2008 during the midst of the domestic auto industry turmoil and the down slide of the general economy as well. We are from San Antonio originally and have owned ranch property in the Camp Verde area since 1980. We always felt that when the time came to “hang up our guns” we would like to retire to the ranch. And, so we did in the fall of 2008. During the 30+ years that we have owned that property I have always been involved with raising cattle, managing wildlife, and engaging in land improvement and conservation efforts. As a working fella I thought that I would never reach the point where I would have all the time I wanted and needed to clear cedar, haul rocks and do all of the necessary chores required in operating and maintaining a ranch. During the auto years the practice of these endeavors with whatever limited private time was available to me was a version of therapy I guess. I just could not get enough of it. Well, upon retirement and after 20 months of indulgence in cutting cedar, hauling rocks, and doing all of those other “fun” tasks on the ranch that I had never had enough time for in the past, I realized that this was not the Utopia for me (or at least not yet) that I thought it would be. I found that I still needed to be involved with a business and that I truly missed the routine involvement and interaction with folks in the business community. What to do??? After a lot of pondering about the matter it became apparent to me that a career in real estate could be just what the doctor ordered. There I could employ much of the knowledge and experience that I had gained from my extensive and successful automotive career as well as that of my personal ranching background. So, off to Real Estate School I went with the goal of getting licensed so I could practice realty specializing in Farms and Ranches, Hunting and Recreational Properties, and Fine Hill Country homes and acreage.
2. Awards?
None as of “yet” as a Realtor. Remember I am a relatively new agent. However, I was ranked in the top 20 for Listing Agent Productivity during the month of September in our San Antonio Market Center which is comprised of about 500 individual agents.
3. Most rewarding experience in real estate?
Meeting truly caring people who share with me a genuine feeling of respect and appreciation for the land. That feeling is almost sacred.
4. Most frustrating experience in real estate?
Balancing the agent’s available time with the requirements of clients and customers when on occasion their immediate needs for the agent’s presence are in conflict with one another and the parties involved cannot accept an alternative due to their own personal time constraints. Somehow, you just gotta figure how to be in multiple places at one time.
6. How is the market performing in your area overall?
The pace of today’s realty business is certainly not as brisk as I would like to see but there continues to be a considerable amount of real estate activity in this general area as surprising as that may seem. Fortunately we are in the great state of Texas and we continue to benefit from our locale in the beautiful and highly regarded Texas Hill Country (which enjoys national prominence). And, being in the shadow of the dynamic and growing San Antonio metroplex as well as being within shouting distance of Austin, Houston, and Dallas are tremendous pluses for this area as well.
7. What issues have you been seeing lately in the real estate market?
For one thing, buyers are overly timid because they are of the belief that mortgage money is not readily available to them... wrong! There is plenty of money out there and at historically low interest rates. It may not get any better than this! Sure, lenders are not as lenient as they were prior to 2008 but they are still very willing to provide funds to credit worthy individuals with “reasonable” down
4 | November 2011
payments. The recent problems of the mortgage industry stem from their past willingness to provide funds to many un-credit worthy persons or, overload the boat of some credit worthy individuals who did not have the knowledge or sense to look out for themselves. Also, the chasm between the mind sets of sellers and buyers continues to exist. Someone was quoted as saying that the sellers were still living in the 2007 era and that buyers were reliving 1939 once again. This pretty much describes the stalemate being experienced in some instances. Truth is, the market is still sound for quality properties that are in good condition and are fairly priced in today’s economy. Price and condition have always been very important considerations but in today’s market it would seem that they are often the only considerations.
8. What’s one thing about working in real estate you wish you’d known when you first started.
You learn real estate by doing real estate, not necessarily by studying about real estate. Initially I was of the opinion that I should try to educate myself about everything there was to learn about the real estate profession and only then would I venture out to practice. Well, that day would never come. Certainly, a fundamental knowledge of the business is necessary as well as a familiarity of the laws, rules, regulations, and ethics which pertain. But, as I came to learn from Gary Keller, you will only really learn real estate by doing real estate.
9. Family:
Married to wife Allene Margaret Saunders for many, many moons. In fact, we have been acquainted with one another since the 7th grade but only started dating once we were in college. Allene is a native of the Uvalde area but was raised primarily in San Antonio. Allene is a retired public school teacher and taught for many years in San Antonio’s Northeast Independent School District and concluded her teaching career at Spring Branch ISD in Houston. One child, daughter Mellisa Mandry Bertin of Austin who until recently was the manager of real estate advertising for the Austin American Statesman and who just recently began a retail real estate career with Keller Williams Realty in the Lakeway/Lake Travis area of Austin. Son-in-law Thomas Bertin is a financial wizard of sorts with Applied Materials in Austin.
10. This time next year, how do you believe the real estate market will be performing?
That is a tough one considering the challenges to this industry during the last 2-3 years. However, I am naturally a very optimistic person. The markets in many areas of the country are certainly better this year than last year. Some improvements are significant while others are only marginal. But the good news is that they are up!!! Many economists are of the opinion that the downward slide in housing prices has stabilized for many areas. I certainly hope that they are correct. That said, I expect things to improve gradually over the next year, barring any unforeseen events or catastrophes. Obviously, some markets will recover at a faster pace than others due to the desirability of their location, strength of the local economy, rate of unemployment, etc. As for the market here in the Hill Country, I believe that we will enjoy a modest but gradual improvement for the foreseeable future. Again, we will benefit from the continued strength of the Texas economy and most importantly from our close proximity to San Antonio. Somewhere along the line, some smart fellow will one again recognize the tremendous investment potential of real estate as compared to other investment vehicles. Yes, it is sometimes as simple as supply versus demand. But, the supply of land is fixed and the population in Texas continues to grow at a remarkable rate. Say no more...
Education: San Antonio native and graduate of Robert E Lee High School ‘61; BBA (Accounting) St Mary’s University ‘65.
Agency: Keller Williams Realty - Kerrville Specialty: Farms & Ranches, Hunting & Recreational Properties, Fine Hill Country Homes & Acreage.
By Brian McLoughlin Recently, I was asked my opinion of “why is homeowner’s insurance so expensive?” This gave me a wonderful opportunity to educate someone who had no idea on what has happened recently in the Homeowner’s Insurance market in Texas and more importantly, what happened to their policy when they got a lower price. Before that question can be answered, it’s important to know the recent history of the homeowner’s insurance market in Texas. Several years ago, many major carriers, “BIG NAME” insurance companies that we all know of and are familiar with, decided that there is not enough money to be made in homeowner’s insurance in Texas. So, that being the case, they, the “BIG NAME” insurance companies decided to leave the state of Texas and do one of two things. One, stop taking new clients in Texas, or 2) stop taking new clients, but also non-renew their current clients. This was all due to the fact that the homeowner’s insurance policy back then was not rated for or intended to cover large water claims that could possibly result in mold in your home. Since then, three years or so, the “BIG NAME” insurance carriers have decided to return to the insurance market in Texas, however they returned with a very limited coverage policy. What does this mean? It means that these companies moved from covering all types of risks and incidents, to covering only certain risks and perils that are named in advance in your policy. To illustrate, if you made a claim on your home 10 years ago, the chances were very high that your insurance carrier would cover your claim. In other words, “all risks” were covered by your policy. Only if a situation (or “peril”) were specifically excluded, such as shifting of walls or floors, or earthquakes, the chances were high you had a covered claim.
6 | November 2011
Now, however, even with more insurance companies in the Texas market, they are selling a “Named Peril” policy only. This unfortunately means that the insurance company will cover only the risks/perils listed specifically, in advance, in your policy. You end up with less chance of a covered claim. It is reassuring to know that some companies, such as Nationwide, did not abandon Texas and Texas policy holders. Nationwide elected to continue writing Texas policies and adding new Texas clients. They decided to remain the good, old-fashioned Homeowner’s Policy provider you, and your parents before you, had for years. While these policies may cost you slightly more than the “Named Peril” policies, knowing your home is covered as water is filling your first floor after a plumbing leak, I assure you that you will be happy with your decision to select the old-fashioned policy! The days where you face damage to your most important investment, your home, are the ones that will teach you to be glad you listened to an experienced insurance agent affiliated with a highly-rated company – and that I purchased an “All Risk” policy! You always get what you pay for - and homeowner’s insurance is no different. For more information on this coverage, please go to the Office of Public Insurance Counsel website – do some research on your own. And, of course, please don’t hesitate to contact me with any questions you may have. I live and work in Boerne, San Antonio, and the Hill Country – and you can always reach me at 210-523-1250. My e-mail is briannationwide@yahoo.com – and I’m at your service. Brian McLoughlin is a Nationwide Agent with offices in both Boerne as well as San Antonio. A graduate of Baylor, he, his wife and three children reside in San Antonio.
This month while flipping through channels, you might come across a local business on the DIY Network. Riverbed Concrete recently was featured on the I Hate My Bath series in an episode titled “Cottage Coastal Bath.” Riverbed Concrete owner David Harris said the company was featured after the network requested its products. “They contacted us and we felt privileged in that regard,” he said. “They originally liked the tiles and were interested in those. Then we discussed doing a sink that would just be kind of generic, but then after a couple of sketches got the idea across to them about the giant trough (featured in the episode). Which after they installed it they weren’t too happy about. “It’s a lightweight concrete with a hollow shell so it’s only about an inch thick. I told them what the weight was. Their camera crew, host and homeowners moved it inside. They should have hired professional movers. I think that one of the reasons why my interview got cut was because they wrestled with that thing for a good portion.” Harris said the show had around eight hours of interview
8 | November 2011
footage, but none of it made the final cut. “ We did a lot of interviewing with professional lights and everything,” he said. “At the last second they had to cut it, because they said it was too technical for the do-it-yourselfer. We talked about the manufacturing process, and in hindsight it didn’t really translate.” Harris said Riverbed Concrete helps with local installations, but because this show was filmed in Minneapolis, Minnesota, things were done differently. “It was a job, just like any other job; it just happened to be on TV and we didn’t have to install it,” he said. “We are doing more jobs all over the U.S. on a pretty consistent basis, so we just put it on a crate and shipped it up there.” Harris said the company is talking about doing another show. “We are still talking to them,” he said. “DIY and HGTV both use a company called Magnetic Productions. It’s a thirdparty production company where they do all the filming and the whole thing and then sells it to HGTV. We are still talking to them and they thought it was a huge success. They liked the different custom products we can do, so we’re looking to work with them again in a pretty short term.” Harris said the first 18 to 20 times the show will air on DIY, then it will air on both HGTV and DIY. The episode is also available online.
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hcrer.com | 9
By Bethany Heinesh If they agreed upon a message for those involved in local Texas
kicked out of our homes tomorrow due to nonpayment of the
real estate, the three chief appraisers interviewed for this article
mortgage. Okay, so it wasn’t so long ago we remember watching
might say this: hang in there, Hill Country – it could be worse.
401Ks vanish before our very eyes, but look at it this way – there
Appraisers from Bandera, Gillespie and Kendall Counties
are millions of people who don’t even know what a 401K is. If
report they have seen only nominal changes in their local
you still have one, you’re better off than more than half of the
economic climates as compared to other places in recent years.
word’s population – me included. SO…let’s put things into
Appraisal and market values in the counties that comprise the
perspective...
Texas Hill Country seem to be, at least for the most part, holding
Think about it this way – Kendall County still had the fair at
fast. While it may be true that sales are down, from an appraisal
the fairgrounds Labor Day weekend this year and people came
point of view – those who reside and do business in this area
in carloads to enjoy an ice cold beer at five dollars a pop as they
have it pretty darn good.
danced the night away to the Klocks. Plenty of folks showed up
All over the country, even in the great state of Texas, when it
to Fredericksburg’s infamous Oktoberfest and spread around
comes to the ole pocket book, people will tell you they’re hurtin’
a lot of money, enjoying meat on a stick and funnel cakes.
for certain. Remember, there are tens of thousands of Americans
Comfort still held its annual Scarecrow Invasion and Boerne will
who have lost their homes due to foreclosure in the last five
host Dickens on Main at Christmastime. Furthermore, I think
years. Think about it. There are plenty of willing, able-bodied
most would agree that as long as there are cowboys strolling
and over-qualified men and women about to cash their last
down Main Street in Bandera every Saturday morning to
unemployment check with no job in sight and few prospects for
entertain tourists, no one really has room to complain.
getting one. Then, there are others receiving benefits from other
Ponder this –in May, Forbes Magazine named Texas the best
government assistance programs to get by. Just because it’s not
state for business for the seventh straight year. It still heralds
being seen next door, or in our neighborhoods, doesn’t mean it
Texas as the national job leader, reporting that Texas has created
isn’t happening. All over America, people are struggling.
more jobs in the last five years than all other 49 states combined!
On the flip side, there are those who have barely been touched
Additionally, Texas boasts six spots among the top 50 companies
by the effects of real estate. It’s true – the market has taken a
on this year’s Fortune 500 List. The bottom line is … Texas is the
tremendous loss since 2005, but our way of life has continued
place to be in 2012.
to go on fairly uninterrupted, hasn’t it? The Hill Country is
Kendall County Chief Appraiser Gary Eldridge agrees. He
a perfect example of a region with independent communities
looks to the future with great expectation and optimism. “We
that remain alluring to potential home buyers. Low crime rates,
truly are blessed to live in Kendall County and be part of the Hill
fantastic school districts, clean, safe streets, well-maintained
Country community. We haven’t had to experience the hardships
homes and yards – these aspects of small-town living are
felt by so many other counties. There are a lot of people out there
attractive to new families and retirees alike.
crying because they’re living in a house knowing they owe more
The very essence of the Hill Country way of life is attractive to
than it’s worth. That’s generally not happening around here.”
people looking to put down some roots. Likewise, it is equally
According to Eldridge, there has been little, if any, decrease in
fulfilling to those who have lived here most of their life and have no desire to leave. Places like Fredericksburg, Comfort, Gruene and Wimberley are still very happening locales. While it may be true that Texans have tightened their belts, it’s also true that the very belt being tightened is made of the same fine leather as their matching cowboy boots. In other words, what these appraisers have indicated rings true – Texans are holding their own and enjoying the style of living to which they are accustomed. Yes, it could be much, much worse. Let’s be honest. Few of us are worried about where our next meal is coming from and we’re fairly certain we won’t be getting
10 | November 2011
$180,000 $150,000 $170,000
$160,000
the value of residential or commercial property, although there
of about $6.8 billion with the average home value being greater
has been some in rural areas, ranches and farms. “We have seen
than $270,000. The average sale price for a home within the
fewer transactions, and certainly not as many homes are being
Boerne Independent School District is around $360,000. In
bought and sold, but selling a home is still not a terribly difficult
spite of a glaring recession, Kendall County District moved into
thing to do around here. We offer a great way of life to a lot of
a brand new facility several months ago and is currently located
people, we have excellent schools and Kendall County is a well
at 118 Market Street in Boerne. It appraises property for the
sought after place. We’re one of the fastest growing counties in
following entities – Kendall County, Boerne, Comfort, Blanco
Texas.”
and Fredericksburg Independent School Districts, the Cities
Eldridge is quick to point out that across the board, Texas
of Boerne and Fair Oaks Ranch, the Cow Creek Groundwater
counties are surviving a tough economy – especially those in
and Conservation District, Kendall County Water Control and
the Hill Country. He predicts 2012 should see little change in
Improvement District #1 and Lerin Hills Municipal Utility
the local market. “We have seen very few foreclosures for non-
Districts.
payment of taxes as compared to other areas.”
“We have places like Cordillera Ranch in our county where
Eldridge says Kendall County’s socio-economic level is such
the average home value is more than $700,000. These kinds
that it supports a healthy local real estate economy. Typically,
of exclusive neighborhoods are good sources of property tax
income is on the higher end of the scale and it’s not an industrial
revenue, and can increase the value of nearby homes, but the
region where most of the community is relying on the same
downside is that there’s not very affordable housing in the area,”
source of revenue. Cities like Boerne and Fair Oaks Ranch aren’t
Eldridge said. “Nevertheless, you can look around and see we
structured like Flint, Michigan, for example, which basically
have a thriving community here. People are shopping, they are
imploded when thousands of lay-offs at GM in turn caused
eating out and nice cars are being driven out on the roads. Life
thousands of foreclosures.
just isn’t so bad around these parts. My guess is it will stay like
“People don’t realize the impact a steep decline in property
this for awhile before things start picking back up.”
value appraisals can have on an entire community. It’s a domino
In Bandera County, the chief appraiser’s assessment aligns with
effect,” said Eldridge, who has been the chief appraiser in Kendall
that of Eldridge. After nine years with the Central Appraisal
County since 2006. “When values go down, taxing entities will
District of Bandera County, Wendy M. Grams has been involved
just increase tax rates to accommodate their budgets, given their
in almost every aspect of the appraisal process. Since she took
organization’s own fiscal needs. So what happens is the value of a house has lessened tremendously, but homeowners still have to pay just as much property taxes as they usually do to support
Continued on next page
things like the school district or the water board.” Eldridge reports that Kendall County has a total market value
hcrer.com | 11
Continued from page 11 her official post as Chief Appraiser in late September, she too has
Country. “The market has been rather flat in recent years, with
made comments that cast a positive light on 2012. She says the
property values and appraisals not going up or down much.
economic climate of the county is slow, but stable.
Essentially, appraisal values are holding their own.” In fact, a
“I just recently returned from Austin where I met with 24
quick look at the tax rates set by the Gillespie County Appraisal
other chief appraisers and heard their woes,” Gram said. “It just
District reveals they are actually a bit lower than they were ten
reminded me of the reason I live in the Hill Country – it’s a
years ago.
great place to live. When you look at the big picture and see how
On the other hand, says Oehler, “Sales activity is way off and
many other places in the country – and even in Texas – are really
sales numbers are down. The number of homes being sold in
struggling, it puts things into a better perspective. We really are
Gillespie County is about half of what it was pre-2008. There are
all very fortunate to be doing as well as we are.”
a lot of homes on the market here that have been on the market
According to Grams, from 2004 through 2008, appraisal values
for awhile, yes. But actually, property appraisal values haven’t
were falling lower than market value. Here recently, however, she
decreased much.”
reports seeing a significant leveling off with a stable market and
Oehler has been Gillespie County’s Chief Appraiser 11 years
more accurate appraisals. “We are much closer to market value
and reports the county has a tax roll of $6.7 billion with the
than in the past and currently have a confidence level score of 99
average home valued at about $205,800. Gillespie Appraisal
percent in the residential market, according to the 2010 Property
District, situated at 101 West Main Street in Fredericksburg,
Value Study performed by the Comptroller of Texas.”
is responsible for the fair market appraisal of properties within
With a tax roll just shy of $1.8 billion, the average market
each of the following taxing entities – Gillespie County, City
value of a home in Bandera County rings in at about $161,442.
of Fredericksburg, Hill Country Underground Water District,
“Appraisal values looked really good in 2011. We will continue to
Doss Common School District Fredericksburg and Harper
analyze the current market for any adjustments that may need to
Independent School Districts and Gillespie County and
be made for 2012,” Grams concluded.
Stonewall WCID.
The Bandera County Appraisal District is located at 1206
Oehler adds that the Hill Country is still a very desirable area.
Main Street in Bandera. The Bandera CAD is responsible for
“People from all over the country are attracted to this area and
the Bandera County, City of Bandera, Bandera County River
want to move here or buy a second home here. The problem is,
Authority and Ground Water District, Bandera, Medina, Utopia
people can’t sell their homes where they live to get the money to
and North Side Independent School Districts, as well as Flying L
relocate. Home sales are down, but in general, Texas is doing well
Pud and Emergency Service District.
and so is the Hill Country in particular.”
Gillespie County Chief Appraiser David Oehler also sees
Check out next month’s Hill Country Real Estate Report for a
a generally stable real estate market in his corner of the Hill
complete financial forecast for 2012.
12 | November 2011
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Turner Bowman A True Passion for Construction
By Ben Schooley
Turner Bowman, of Foster Bowman Custom Homes, has had his fingers in many different professional projects. From home security to large residential developments, Bowman has done it all. And yet, if given the opportunity, he continues to return to custom home building. His reasons? Simple: “Because every home is a person’s dream, and I simply love to see those dreams realized.” Bowman grew up in the San Antonio area and around construction. “My dad and grandfather were both in construction, so it feels like I’ve always been around it. I spent every summer working with them, and that is where I learned so much about construction. And perhaps most importantly, I learned about how to do construction properly.” Bowman then took that passion to Texas Tech, where he pursued a degree in Architecture. He admittedly was a bad fit for Architecture, it turned out, so Bowman began a successful career in real estate as a realtor in 1976. Always looking out for the next opportunity, he got into home security systems in the late 80’s, and was wildly successful in the industry. Eventually, he and a partner formed their own private security company, and quickly grew that to a national Top 10 organization for
14 | November 2011
the industry. Bowman eventually sold his interest in that company, and was then able to focus his attention back on one of his passions: construction. “I was able to be presented with some opportunities to do residential developments. We’d pick up some dirt and configure it with the infrastructure and had a lot of fun with it. We did 5 subdivisions in the San Antonio market, and in doing that, we started putting up a few houses. One thing would just lead to another, and I met people that helped us move forward. We’ve built several in the Canyon Lake area, and eventually moved over to LBJ. I love the lakehouse market, and I hope to really focus on the Canyon Lake area in the coming years. The area is simply primed for great growth as there is a great number of building sites on the lake that are not currently occupied.” With the downturn of 2008, Bowman moved away from the residential developments and has been focusing ever since on new home construction. “We’ve done as many as 12 new constructions in a year. It’s been wonderful, and that’s mainly attributable to how we operate. I’m a one person show. I am so hands on, and there is nobody else to ever talk to. If you have a question or problem, I handle it personally. I’ve dropped all the additional baggage, and I’m the only one on site that is making things happen. I’ve simply found that it works out
best that way.” And that success is also due to Bowman’s relationships with his vendors and craftsmen. “I have a team of contractors that are simply fabulous – every one of them come over and eat dinner at my house. I judge their character, and that’s who I want on my team. He can be the best craftsman, but if he’s got a bad attitude, he’s gone. My homeowners trust them, I trust them, and it helps the project simply come together great. And that’s what makes this so fun…taking these projects from concept to completion, and doing it with great people.” Bowman’s passion for building is simple, and yet noteworthy. “I just love finishing things. I love starting one from the ground
up, and seeing it completed. Every house is somebody’s dream, and I love providing that. I actually see homebuilding as a hobby – I do it because it’s so much fun, and that’s my main motivation. I do it for the sheer enjoyment. People start things everyday and never finish them, and you just can’t do that with a house. In life, that’s just important, and I apply that to our homes as well.” Turner, his wife, and their four children live in the Bulverde area, and he sees good things for the future. “For the foreseeable future, I just hope to keep doing what we’re doing. We’re having a great time, and as the economy improves, I see great things happening.”
210-913-8000 | turnerbowman@gmail.com | fosterbowmanhomes.com
Interested in seeing your business featured in
? Call 210.507.5250.
hcrer.com | 15
16 | November 2011
In 2012, how do you think the real estate market in the Hill Country will be performing? Better, worse or more of the same?
“While some markets have done better than others this last year, the good news is they’re all up! I hope the economists are correct when they say the housing prices have stabilized from their downward slide.” Arthur Mandry Keller Williams Realty “With sales prices down and the economy somewhat stagnant, I think the Hill Country real estate market will be pretty flat through next year’s election.” Jim Cain Kuper Sothebys
“Until people return to cave dwellings or go to boxes under IH-10, I predict that the Boerne Housing Market will continue to be one of the best in the Nation! EVERYONE has to have a place to live! It may not be their dream home, and it may be far less than they had before, but, a home is still the best investment and will always be the best. Why do you think the wealthy always have so many?! The only better investment is in YOURSELF.” “In my opinion we’ll see more of the same in 2012. Cordillera Ranch has had great activity at both ends of the price spectrum, but the ‘silent majority’ seem to be taking a ‘wait and see’ position and looking for better policy direction out of Washington. We’ll probably have to go through this upcoming election year before we see change.” Barry Denton Cordillera Ranch
Judy Filigeri Bluebonnet Realty
“I don’t see much change in the real estate market in the Texas Hill Country for 2012. Our market has been considerably strong in 2011 and I forecast it to stay at that level and continue to improve over the next decade. Our area is driven by the retiree market and second home buyers. Two factors that support that strength is the aging demographics of the baby boom generation and the amenities that our area offers. Those amenities are small town charm, waterfront, golf, climate, health care, and the proximity to larger cities with airports, shopping, and the arts.” Brad Goebel Horseshoe Bay Resort Realty
Next month’s question:
“What is one thing you are going to do differently in 2012 as compared to 2011?” E-mail your responses to opinion@smvtexas.com
MATTERN & FITZGERALD CUSTOM BUILDERS WINS THREE STAR AWARDS
Jane Marie Hurst is now a Director With KW Commercial.
Dixie Bishop, Owner and President of Texas Plumbing Diagnostics (formerly The Plumbing Doctor) in Leon Springs, recently joined the San Antonio chapter of Women’s Council of Realtors. She looks forward to serving this community of women – dedicated, talented professionals who know how to get things done, both in business AND in serving the San Antonio community. Dixie Bishop Texas Plumbing Diagnostics, LLC Ph: 210-698-9790 Dixie@TPDtx.com www.TPDtx.com
Jane Marie Hurst KW Commercial Director 512.755.2294 (m), 830.798.9194 (f ) jmhurst@tstar.net Tony Mangus received his ALHS (Accredited Luxury Home Specialist) designation. Tony Mangus Realtor, ABR, ALHS Keller Williams-Wagner Team 1595 S. Main #101 Boerne, Texas 78006 210-413-8229 Direct Visit my Website @ www.LifeInBoerne.com
7110 Bella Rose Recognized by Texas Association of Builders Mattern & FitzGerald Custom Builders recently announced that it has won Best Architectural Design for a custom home $700,001 - $1 million, Best Kitchen for a home $350,000 - $750,000 and Best Outdoor Living Space for a home less than $1 million all in the Custom Builder category. These awards are awarded by the Texas Association of Builders in recognition of Best Custom Builder in the state of Texas. This is the only statewide tribute to excellence in the home building industry. 7110 Bella Rose, built by Mattern & FitzGerald in 2010, was featured in the 2010 Parade of Homes. This contemporary style home has also been an award winner in the Parade as well as the 2011 Summit Awards. Mattern & FitzGerald is a custom home builder located in Boerne and building homes in San Antonio, New Braunfels and the Texas Hill Country. Come find out how Mattern & FitzGerald can turn your dream home into a reality. Call us at 210-764-7373 or visit us at www. matternandfitzgerald.com. Kallee Crow Mattern & FitzGerald Custom Builders 210-764-7373 office 210-497-1648 fax kallee@matternandfitzgerald.com www.matternandfitzgerald.com
If you have news, let us know! news@smvtexas.com hcrer.com | 19
20 | November 2011
By Lee Richardson Real Estate Marketing. It doesn’t sound like a tough subject and in fact, on first pass, the topic seems simple. How true I wish that was! After almost 25 years as a marketing professional I find that the opportunities to promote my company and our product are more complex than ever. And, there are no signs that this trend is slowing. Some days I pray that I can effectively execute ONE marketing tactic that is familiar to me and doesn’t have a new ‘catch’. No signs that is going to happen! When I first joined the real estate world after a career in retail marketing, I was able to spend the first months instituting some basic Marketing 101 concepts. I rearranged staff assignments and established processes around work-flow. I reviewed the current marketing strategy and plugged some holes in our brand marketing campaigns. I am working for a company that is steeped in San Antonio and South Texas history and tradition. We are also connected with a world-famous brand that has been associated with luxury merchandise for almost 300 years. I wanted to be sure our brand was associated with other luxury-based companies. So, where did I begin? Well-read San Antonio magazines. We created beautiful ads that told our story. What business owner (or marketing director) is not proud to see his organization in the company of world-class retailers like Tiffany’s, Saks 5th Avenue and Neiman Marcus (not to mention luxury car dealerships and yes, other real estate companies)? But now comes the ‘catch’. Brand building will always have a place in a marketing strategy but with costs of advertising going up and budget dollars being scrutinized for effectiveness, where is the proof that your beautiful ads are being read? Enter the new and rapidly growing world of QR codes. You are seeing them everywhere EVEN if they haven’t entered your consciousness as yet. With the help of your smart phone and a free app you can now turn an ad into a launching pad for an exciting interactive experience. Whether you view a video or launch a website, a brand building ad now becomes a place to spend time before you flip the page. And best of all----when you click on that QR code the Google gods keep a record. I now have the data to defend (or not) my marketing decision. If your phone is handy, go ahead and read this code. I’ll know in a couple of days if I should have written this article!
The opportunities to use QR codes are endless. We are in the very beginning of this technology and I expect that QR 2 will be released before we know all the possibilities for QR1. As with all the ‘catches’ we are dealing with, variations of the system or product are prolific. And, I am assured that NO company is waiting on me to become an early adaptor. Time and technology are marching to a very fast drum! The gold standard for all real estate property data has for many years been the Multiple Listing Service (MLS) which houses all the information about a property. It wasn’t too many years ago that agents carried around a dog-eared catalogue with one very tiny black and white photo of a home. Now, MLS is the repository for beautiful pictures and lengthy descriptions of kitchen cabinetry all available to the industry on their computer, laptop, notebook, IPad or smart phone. Consumers go to realtor.com or any one of 100’s of websites and find all of this incredible information searchable by state, city, neighborhood, lifestyle or price range. But now, there is another catch! Pictures and panorama’s aren’t enough! You must have video, and the experts are telling us that video of the property is just a start! Have a video where the agent is a ‘tour guide’ leading the viewer around the home pointing out saleable features. Also, be sure there is ANOTHER video available that highlights the lifestyle of the community. So, video is a 2012 must do! We all know that a highly functional and easily navigable website is a must for any successful brokerage. Now that we all have that done, we are moving into the next ‘catch’. Where does your company rank with Google? Are you on page one of a primary search? Enter the world of SEO, keywords and Google Analytics. These aren’t necessarily new concepts, but they have now moved from the ‘nice to do’ category for small businesses into the ‘must do’ column. My email is jammed and my phone rings everyday with offers from one company or another offering their services to help me maximize my web presence. And, remember, it is only ‘cool’ if you rank high on an organic search!! Pay for keywords but DO NOT pay for position!! Or is it, pay for position and then your organic search will improve? Depends on what phone call I answer! Regardless, it is on the list for 2012!! There was a time when a retail marketing budget had a minimum of primary categories: TV, radio, print (news), print (magazines), direct mail, public relations, catalogs and payroll. The real estate industry has always had collateral materials for properties (including photography, brochures, and signage for yards). Now I get to add: - Mobile apps - QR codes - SEO - Keywords - Website development - Video production What’s next? Who knows! Even the most mundane category will have a ‘catch’ in the next couple of years (or months), but I do know this for sure: if you are going to stay relevant in your industry you can’t manage 2012 in the same way you structured 2011. Budgets aren’t growing because technology is expanding. Budgets grow with revenue growth. So unless my marketing is leading to revenue, there will be changes. Challenges always produce great opportunities. It looks like 2012 will be a wonderful year for tackling new and exciting projects! Lee Richardson is the Vice President of Marketing for Kuper Sotheby’s International Realty. After many years of working with major retailers including Dillard’s, Toys ‘R Us, and QVC, Lee is thrilled to be working in the real estate market with the Kuper family and 140 of the best agents in the city.
hcrer.com | 21
By Leah Bredemeyer
a huge cross-section of the Texas Hill
public. Members of a board of Realtors
Country. What can’t be good?”
pledge to follow the Realtor Code of
Blanco County Realtors now have
Ethics and Standards of practice. As a
a jurisdiction to call home. Thanks to
Debbie has been a member with both
member of the Multiple Listing Service,
Debbie Vallone-Homeier and Candy
the Austin and San Antonio jurisdictions
listings are syndicated on numerous
Cargill, Blanco County now is part of
and is glad about the Gillespie alignment.
websites, which means sellers’ properties
the Gillespie Board, which also includes
“Personally, I think we would have been
receive more exposure.
Gillespie, Mason, and Kimble counties,
a small fish in a big sea” in San Antonio
and the cities of Llano, Boerne, and
or Austin, she said. “Blanco County is
Buyers are more likely to find a
Kerrville.
considered more Hill Country vs. big city.
property that piques their interest
I have been a member of both and rules
before contacting a real estate agent.
Blanco County previously could
are different. Our membership is smaller
In searching for real estate, more than
participate with boards but had no voting
and is more on a personal basis.”
90% of buyers go to the Internet first.
power. The county now has influence
When a broker or agent is a participant/
and can still participate with other
Candy said the professionalism that
subscriber of the MLS of the Gillespie
boards other than Gillespie. Debbie said
comes with being a Texas Realtor is a
County Board of Realtors, they have the
she thinks it will positively affect local
win-win situation for both buyers and
ability to search for properties listed by
Realtors. “As a Broker, I now have a
sellers, and being with an association
its MLS members. Therefore, they are
board that will consider what is important
gives a Realtor principle.“Every Texas
more knowledgeable of the local market
in my county also,” she said. “Before,
Realtor is a licensed real estate agent or
and can better assist sellers and buyers.
we just existed and could belong to any
broker, but not every licensed real estate
board (San Antonio, Austin, Central/New
agent or broker is a Texas Realtor,” she
“The most important thing I can see
Braunfels, or Gillespie) and not really had
said. “Realtors are not only members of
with this change is having a say for our
representation. Also, I can now serve
their local Boards or Associations, but
county,” Debbie said. “I feel we can
as a TAR (Texas Associate of Realtors)
are members of the Texas Association
make recommendations for improving
representative for my Board in Region 7,
of Texas Realtor and the National
our services with the software and the
which I have just been appointed to.”
Association of Realtors. These groups
board organization itself. For instance,
have their separate set of ethical
we now have a local meeting in our
According to Candy, most Realtor
standards that our members must adhere
town. This allows more exposure to our
offices in Blanco County were members
to. This is the best way to make sure that
banks, title companies, and insurance
and the change has made it official. “The
both seller and buyer have the best of
companies, whom we all do more
Gillespie County Board of Realtors in our
representation in an extremely important
business with. Most of our buyers and
opinion is the best group of folks in the
transaction.”
sellers want to stay local.”
state of Texas,” Candy said. “By joining Gillespie County, Mason County, Kimble
An association of Realtors offers
County and Blanco County, we represent
several benefits to its members and the
22 | November 2011
Complete structural, mechanical, well, septic, pool & termite inspections. Jim Jarreau • TREC Professional Inspector #402 • 10,000+ inspections since 1985 Call or email Martha for scheduling and quotes - Martha@meritinspections.com San Antonio 210.814.9911 • Fredericksburg 830.997.7922 • Kerrville 830.257.6688 Horseshoe Bay 830.598.2400 • Texas Toll Free 1.800.345.9171 • meritinspections.com
24 | November 2011
By Brad Goebel This year’s drought has been devastating throughout the state of Texas. Austin and the surrounding Hill Country area of Lake LBJ, has seen over 90 days of triple digit heat. The hill country landscape has turned from a normal summer of bright green to dark brown and there is little sign of the weather pattern changing in the coming months. The agricultural and wildlife losses continue to mount at an alarming rate. I can remember my grandfather saying, “this isn’t as bad as the drought of the 1950’s.” Well, I’m not hearing much of that this year. I think we will be talking about the drought of 2011 as one of the worst in history. According to the National Weather Service, the 11 months from October 2010 through August 2011 have been the driest for that 11-month period in Texas since 1895, when the state began keeping rainfall records. In addition to being so dry this summer, it has been one of the hottest in the state’s history with over 90 days of triple digit heat in the Hill Country area. Having been a Realtor in the Lake LBJ area for 16 years, I have been asked that many times in the recent weeks if the extreme weather has affected waterfront sales of Real Estate in the Lake LBJ Hill Country area. Here are some insights and data points after researching this question. It might be surprising to some, but the Horseshoe Bay and Lake LBJ area continues its track record of a steady volume of sales of waterfront property, despite the adverse conditions of the extreme weather and national economy. One of the main reasons for the success of waterfront sales on Lake LBJ is the constant level nature of Lake LBJ. Lake LBJ is a 21-mile-long 6,400 acre lake, more than two miles wide at Horseshoe Bay and is bounded and protected by major flood-control lakes - Lake Buchanan upstream and Lake Travis downstream. Currently, Lake LBJ has a water level 824.68. Its monthly average is 824.0. Flood-control lakes are built to accommodate annual spring runoffs and therefore are not constant-level lakes, considering that the process involves dropping their winter-time lake levels substantially. Lake LBJ differs in being simply a “passthrough” lake - passing water from Lake Buchanan downstream to Lake Travis. By utilizing these large adjoining lakes for balancing purposes, the Lower Colorado River Authority (www.lcra.org) maintains HSB’s lakefront at the 825’ pool level. Accordingly, during the worst of times, such as FEMA’s anticipated 100-year flood, HSB’s lakefront is projected to rise only 2.9 feet. The waterfront sales success is due to buyers who spend money on a retirement home or a second home and want immediate access to the lake. Many of our clients explain to us that they looked at other lakes around the state, only to choose Lake LBJ because of the constant level nature and additional lifestyle offerings and amenities of the area. In addition to benefits of Lake LBJ, the towns and cities on Lake
LBJ offer an abundance of other amenities the retiree or second home buyer is looking for. Horseshoe Bay Resort boasts three Robert Trent Jones Sr. championship golf courses and are opening this fall a Signature Jack Nicklaus course overlooking Lake LBJ called Summit Rock. Adjacent to Horseshoe Bay Resort is Escondido, a private equity club that features a Tom Fazio championship course. Additional golf is available on Lake LBJ in Kingsland, Tx. with the Tom Kite designed 18 hole course, The Legends on Lake LBJ. Horseshoe Bay Resort has a 6000 ft private jet center, tennis courts, multiple clubhouses, spa, pools and the beautiful Yacht club on the shores of Lake LBJ. Horseshoe Bay Resort opened its Marriot 350 room hotel 5 years ago and there is little doubt that the exposure and introduction to the Texas Hill Country have resulted in future purchases of second homes or retirements homes in the area. 6 miles away lies the once sleepy town of Marble Falls on the banks of the Colorado River and Lake Marble Falls. It has become a commercial hub of the area with over 40 restaurants and all the services a second home or retiree could wish for. The demographics and target market for purchases of property on Lake LBJ come from Texas or former Texans returning to the state for retirement. This market is supplemented by out of state people lured to the hill country and wanting to be close to the great city of Austin. The major cities of Houston, Dallas, and San Antonio provide large population bases that provide a steady stream of baby boomers and successful Texans looking for the hill country lake experience. West Texans from Midland, Odessa, and Lubbock certainly add to this market. While the economy has affected sales, the Texas hill country has fared well through the economic downturn as evidenced in the above graph. For individuals that are looking to have a sophisticated resort lake and golf course lifestyle while still being within an hour of major cultural cities like Austin and San Antonio, Horseshoe Bay, provides a lifestyle that so many people are looking for. Jump in, the lake is full! Brad Goebel and his wife Kristi has over 22 years experience selling Horseshoe Bay and Lake LBJ property. If you have any interest in discovering this part of the Hill Country, give Brad or Kristi a call or email at Horseshoe Bay Resort Realty: (830) 798-7700 or bgoebel@ hsbresortrealty.com and kgoebel@hsbresortrealty.com.
Lake LBJ Waterfront Sales
2007........................ 162 sales................. $86,439,347 2008........................ 156 sales................. $107,877,645 2009........................ 181 sales................. $110,442,272 2010........................ 144 sales................. $99,444,795 2011-Oct. 4............. 139 sales................. $104,549,575
hcrer.com | 25
Welcome to Boerne
Bluebonnet Realty
REALTOR® Should be a verb!
You know what I mean…
As a Property Manager, I honestly feel that way most of the time! And, an Active Verb at that! However, I’m also a guidance counselor (guiding home owners and tenants to find the best solution to their individual problems). A psychic (how long will it take my house to lease?) A decorator – I should have bought stock in Home Depot! I have my own apron. A financial advisor (well…maybe not!) But at the end of the day, when I’ve helped an owner save their home from foreclosure, or helped them realize income from their home that hasn’t sold, I’m glad I’m a Noun. When I’ve helped a family who has lost everything and is trying to start over with bad credit, and they are so appreciative that they’ve been given a “new” chance, I’m glad I’m a Noun.
Judy Filingeri Bluebonnet Realty P. S. Agents, do your homeowner a favor, and counsel them not to lose their homes, their investment, due to loss of job, or illness, or any of the other life bombs. As a professional, you can make a difference. Now it’s a renters market! Especially here in Boerne! In the last 45 days, I’ve leased over 10 homes in less than 45 days…one in 4 hours! I didn’t even have time to put it in MLS! If you don’t know how to price a rental, call me. I’ll be happy to help you and your client. Good luck out there to all of you!
Now be a Verb and go to work!
Recently Rented
1.) $850/mo. 13 Days On Market
Scan Code With Your Smart Phone
2.) $1430/mo. 35 days on market
4.) $2200/mo. 4 days on market
3.) $1595/mo. 5 days on market
5.) $875/mo. 25 days on market
830-816-2288 | www.boernetexashomes.com
HOMES FOR SALE
1.) FOR SALE - $497,000 - Exceptional Property in Mountain Springs Farms on 4.25 acres. This home has approx. 3289 s.f. of living area, 3 bedrooms, 3 baths, PLUS a guesthouse, a workshop, and in-ground pool. This owner has completed extensive, impressive upgrading and landscaping.
2.) FOR SALE - $695,000 - Priced $50K below 2010 county appraisal! Residential, potential commercial property on Scenic Loop Road, 1/2 miles South of IH-10. Main house had approx. 3000 s.f., 4 bedroom, 3 bath, 2 story; 2nd house, 1 story has approx. 1500 s.f., 2 bed, 2 ba; and 3rd house, 2 story, approx. 1500 s.f., 2 bed, 1 bath. There’s also a storage building and a rock smoke house, all on 2.16 acres with frontage on Scenic Loop.
HOMES FOR LEASE 3.) FOR LEASE - $4000 - 4 bed, 3.5 baths, library, dining room, bonus room, approx. 4200 s.f. of living area, pool, barn on 28 acres East of Boerne on Highway 46 East. Private setting, long drive back to the house. Great views.
6.) FOR LEASE - $1500 - 4 bedroom, 2 bath home with approx. 2000 s.f. of living area
11.) FOR LEASE - $1300 - 3 bed, 2.5 bath in Villas of Hampton
7.) For lease - $1300 - 3 bedroom, 2 bath, office mobile home on 5+ acres
8.) For lease - $3800 - 4 bedroom, 3 bath, gameroom, golf course lot. Approx. 3000 s.f. in Fair Oaks
4.) FOR LEASE - $1200 - 3 bed, 2 bath in Ranger Creek, large fenced back yard
9.) FOR LEASE - $1750 - 3 bed, 1.5 bath rock home on 3 acres. Gated, lots of tile, fireplace, large family/game room, fireplace, covered pavilion with large bar-b-q.
5.) FOR LEASE - Commercial space in high traffic area. $1.20/p.s.f.
10.) FOR LEASE - $850 - 2 bed, 2 bath duplex with garage and fenced yard
12.) FOR LEASE - $1650 - 4 bed, 2.5 bath on large corner lot. Approx. 2688 s.f. of living area in Bentwood
Welcome to Foster Bowman Homes. We build homes all over the Texas Hill Country and the Canyon Lake area. I guarantee to build the Highest Quality Home at the Most Affordable Price Anywhere. Our Custom Homes Start at $200,000. No Superintendents, You only work with me, Turner Bowman. You only pay for the cost of every item in your home, not a penny more. There is no builder mark up on any phases of construction, change orders or upgrades. I also provide the following professional services: Plan Design, Real Estate, Mortgage, Construction Financing. My team of professional contractors provide excellent workmanship with a positive and friendly attitude. My favorable relationships with my suppliers transfers tremendous savings on to my customers. Please give me a call to discuss building your next custom home. Turner Bowman
210-913-8000 | turnerbowman@gmail.com | fosterbowmanhomes.com
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By Bethany Heinesh
30 | November 2011
After almost 10 years of discussion, construction on Kerrville’s long awaited six-mile river trail is set to begin in January. Officially named the Kerrville River Trail by the Kerrville City Council last November, the project got the final go ahead last month from council when they approved a $7 million funding plan. Backed by the Kerrville Economic Improvement Corporation, the city plans to borrow $3 million before the end of the year, taking out an additional loan for the remaining $4 million sometime in 2012. Although all certificates of obligation must be approved by the city council, and will be paid by the KEIC, Kerrville taxpayers are ultimately financing the project because the loan will be repaid from sales tax revenue. The idea for a river trail has been in the works since 2002 when the city passed a $500,000 bond to be used for the project after it was denied grant funding from Texas Parks and Wildlife. The bond money has remained completely untouched, but will soon be used for park improvements. The 10foot wide trail will connect to a new sports center and amphitheater. It will also include six exercise stations, picnic areas and historical markers –not to mention a trail that will appeal to nature-lovers who enjoy hiking and cycling. The trail will run alongside the Guadalupe River and stretch from Kerrville Schreiner Park to Knapp Park on City Lake, running behind several businesses and residential homes. “It’s going to be spectacular,” said Kerrville City Council Member T. Scott Gross, who has been a staunch supporter of the project since its infancy stages. “I believe Kerrville is going to do a complete about face and face the river. I am so excited about this. I truly do believe it will be the biggest economic generator of the county.” Construction on the river trail project will be completed in phases with the entire trail set for completion in late 2013. The initial phase of construction will kick off early next year starting at Louise Hays Park going all the way to the Riverside Nature Center. The rest of the trail will be laid the following year as a number of park improvements are made throughout the city. The trail’s proposed route starts south of the Guadalupe River at Kerrville Schreiner Park, following the river through Lehmann Monroe Park and Louise Hays Park where it crosses to the north side of the river at Francisco Lemos Street. The trail will then run along the north bank of the river to Lowry Street, where two continuing routes have been proposed. One route continues along the riverbank through the backyards of several residents who have expressed opposition to the trail passing through their properties. An alternate route has been proposed, which would travel alongside Guadalupe Street to the Dietert Center where it would pass through Guadalupe Park and then behind businesses along City Lake, ending just past Knapp Park. Easements, of course, are an issue and the city will soon begin the process of obtaining them, which will determine which route is chosen.
In October 2008, the City of Kerrville hired Halff Associates, Inc., a landscape architectural firm specializing in parks and trails, to develop the River Trail Master Plan for the second and third phases of the project. “The River Trail will provide a great opportunity for the citizens of Kerrville to enjoy the scenic and natural qualities of the Guadalupe River corridor, while utilizing the trail corridor as an alternate route for bicycle and pedestrian transportation,” said Halff Associates Vice President Wayne Cooper in a press release issued by the City of Kerrville. “Proposed trail improvements, coupled with proposed improvements to the Hays/Monroe park complex, will expand upon the wonderful recreational facilities that city staff have nurtured and developed over the past several years. At the end of the day, the City of Kerrville will have a trail and park system along the river that provides world class recreation and educational activities to both citizens and visitors to Kerrville.” Kerrville City Parks and Recreation Director Malcom Matthews will oversee construction and design of the river trail project. As the former long-time director of the San Antonio Parks and Recreation Department, Matthews is a licensed landscape architect and was directly involved with the construction of the San Antonio Riverwalk. In addition to the actual walking trail itself, Pete Moore of Hunter Equity has proposed a complete revitalization of a portion of riverfront property that sits along the Kerrville River Trail’s edge, including the Hunter Equity owned Family Sports Center. Moore says his overall concept for the area is like that of a village. He plans to incorporate the natural materials of the Hill Country to create both an aesthetic appeal and a functional layout. Moore’s plans include restaurants, retail shops, condos and a boutique hotel. According to reports, he plans to eventually develop a new sports center and tear down the existing one to be used for other pad sites. “A river is one of the greatest amenities a city can have,” Moore said in a presentation to the city council. “You’re seeing cities all over the world and all over the country maximizing the water that’s flowing through their city. Kerrville has the Guadalupe, which is an amazing water feature, that, it’s time, in my opinion, to maximize not only for quality of life, but to help redevelopment opportunities along the lake and the river.” Local residents have expressed mixed feelings about the Kerrville River Trail project. While some say it’s a waste of tax dollars that could be better spent elsewhere, others are excited about the beautification of the area and the potential for development. “I know some folks around here object to spending $7 million on what they think is just a glorified sidewalk,” said Martha Jennings, who just recently moved to the area. “But I believe once it’s all finished, people are going to have a change of heart. I think this will be an incredible addition to an already incredible city. Our little piece of the Guadalupe River is just gorgeous and being able to walk alongside it will be wonderful.”
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By Bethany Heinesh
Horseshoe Bay, just a short drive from Austin, is now home to a signature Jack Nicklaus Golf Course, Summit Rock, one of the newest in the country. Soon, a 50-home development will begin to take shape on holes 17 and 18 as buyers come from all over to build in what will surely become one of the Hill Country’s most sought after golfside neighborhoods –including Nicklaus himself. In January, the Texas-based investment company Reserve at Summit Rock LLC purchased a 21-acre parcel of land from Skywater Over Horseshoe Bay and originally identified it as Reserve at Summit Rock. Now called Golden Bear Reserve at Summit Rock, the development was renamed in April to recognize Nicklaus Companies’ involvement with the development. Affectionately nicknamed “Golden Bear” early in his career, many hail Jack Nicklaus as the greatest golfer of all time. Today, he operates one of the largest international golf course design practices. Golfers travel all over the world to play his acclaimed courses and retirees have long-since made his signature fairways favorite retirement spots. “We couldn’t be more thrilled to have Mr. Nicklaus’ support on this exciting real estate development that overlooks the newest Jack Nicklaus Signature Golf Course,” said Reserve Summit Rock President Jay Fertig in a recent press
32 | November 2011
release. “The Golden Bear Reserve at Summit Rock is the ideal location for any golf enthusiast.” Golden Bear Reserve offers a variety of upscale homes designed by Westway Custom Builders. In the coming weeks, two models will open. One will serve as the sales center; a turn-key operation set up to make the building process easy for buyers. The other will actually belong to the Nicklaus family, decked out with Jack’s authentic golf memorabilia, and will be open for public tours until development is complete. A design center will be located nearby to help buyers select finishing touches that will make their house a home. “The idea here is that people can down-size without downgrading,” said Chuck Strasburg, the director of marketing for Golden Bear Reserve. “We’ve really created a new niche in real estate. These houses are just as nice as those our clients are accustomed to, just not as big. They are highly finished homes that exist within a gated community complete with concierge services and other exceptional features.” Home and home site packages range from the low $500s to $780,000 with high-end amenities and custom features throughout. Home sizes range from 1,850 to 3,000 sq. feet and should be ready for move-in four to six months from the date of purchase. According to Fertig, the 50 lots will be
developed in phases –18 in the first stage, about 13 in the second and the rest in the final phase. When completed in three years, the project will have a sales value of about $37 million. Home packages at Golden Bear Reserve include amenities at either no additional cost or for a nominal fee. These include a guest home, private pool, outdoor kitchen and fireplace and immediate access to an interior designer and lawn and landscape service. In addition to a beautiful Westway home, and upon approval, Golden Bear buyers will also enjoy membership privileges with the neighboring Club at Horseshoe Bay Resort. The resort will own and operate the Nicklaus Summit Rock Golf Course along with the three championship courses it currently operates - Slick Rock, Apple Rock and Ram Rock. With native stone, rambling creeks and incredible elevation changes, Summit Rock promises impressive Hill Country views and a phenomenal course for those who love golf and the great outdoors. “It has been fun and challenging to make the course enjoyable for everyone,” Nickalus told Texas Golfer Magazine in April. “This promises to be one of the most interesting and playable courses I have ever designed.”
J. David Williams
Ronnie Miller
Gregg Appel
Cynthia Scroggins
Brett McDowell
Marcus Vidrine
Margaret Jobes
Stephen Harris
PROFESSIONAL. CUSTOMER FOCUSED.
COMMITTED TO THE COMMUNITY.
INNOVATIVE.
ROCK SOLID.
KERRVILLE 1145 Junction Highway
830-896-5000
KERRVILLE SOUTH 830-896-5000 207-C Sidney Baker South FREDERICKSBURG 710 South Adams
830-997-5544
Expanding soon into Boerne!
www.hcsb.com
By Gabriel R. Garcia
If you’re going to sell your home in this tough resale market, check-out your competition. Find out what everybody else has to offer. Think about how you can position your house to stand out amongst what everyone else is offering. First step, do the obvious! If the yard and the front elevation are not presentable, everyone will just pass you by, scrunch their face at the thought of what the inside looks like. Remember, if they don’t get out of the car, it won’t matter what the inside has to offer. Does that need repeating? Fresh paint on the exterior and updated landscape will go farther in getting you more opportunities to sell than any clichéd room description. Would “Oversized Living Room” get you past overgrown hedges or a paint scheme that made sense 15 years ago? If you have window screens, store them in the garage and don’t forget to clean the windows! Second step, how do you compare to the competition? If you’re in an older neighborhood, let’s say twenty to thirty years old, has everyone remodeled except you? If so, the answer is easy unless you just want to be the lowest priced house in the market. If the cost of new kitchen cabinets and appliances doesn’t push your selling price to the top or outside what your neighborhood will bear, consider it. Remember, potential buyers admiring the fresh updated kitchen have already passed two hurdles (getting in the door and the asking price). Keeping potential buyers interested and forgetting the competition is the now the most important step. You might be saying to yourself or at me, you’re nuts to spend any money on something you’re trying to sell. Here’s my response. In all the years I’ve been in the home building business, I’ve come across very few clients that could envision what the end product was going to look like. That’s true in new construction. With remodeling, multiply that effect because now that same buyer is looking at something they don’t like. That’s not just another hurdle, that’s asking them to do something they probably cannot
do under the best conditions. I’m just saying. If your house is on par with the Jones, congratulations your job is easy. Repaint all the interior walls of the house. Give everyone who walks through the door a reason to pick your house over your competition. Don’t paint every room white. Whether you get professional help or do it yourself, paint the interior a nice color you’ve seen in the interior design magazines (fresh is the goal). Look at the door and cabinet hardware in the house. Depending on the age of the house the finish of both can really date any finish. Replace them with updated finishes that coordinate with the rest of the colors. For a last and very important step, lighting. Walk the entire house concentrating on how the furniture and accessories look with the lights on. You might not have an opinion one way or another until you see how a room can look when presented with an alternative. First, make sure that all the lamps are consistent. There is no need for any one fixture to have a 100 watt lamp in it. What you’ll read next will bother some people, but the goal is to sell your house. Remove any fluorescent lamp in the house that is not a tube. The truth is that fluorescent light produces the most non-flattering light available. The key to good lighting is using dimmers where it makes sense. In the living areas, install dimmers then reduce the light source to a level that is functional but not overpowering. In addition to having flattering scene lighting, dimmers extend the life of the lamps and that’s a good thing. For recessed cans use halogen quartz lamps in lieu of frosted lamps. They produce a warmer feel to the room they are lighting. All other fixtures should have at most 60 watt lamps, 40 watts if it feels right. You be the judge. Whether you’re looking to sell your home or just update without over building, these steps with go a long way to achieving your goals. Either way, you’ll find what you’ve done to the house will make your home a great place to want to be.
Gabriel R. Garcia is a partner at Pasadera Builders. With 18 years experience, Garcia has built properties all over Texas. He, his wife and 2 kids live in San Antonio.
34 | November 2011
Golden Bear Reserve at Summit Rock Residences inspired by golf’s most iconic champion.
B
UILT TO AN EXACTING STANDARD
Located in Horseshoe Bay, the Heart of the Texas Hill Country. • Luxury Lifestyle, Highly Appointed Golf-Course Homes. • Overlooking the newest and most prestigious Jack Nicklaus Signature design golf course in Central Texas.
• Finish levels designed to please those who demand the best in quality, craftsmanship, materials, and customer service. • Sophisticated Hill Country homes with amenities that provide a carefree lifestyle. • Guest homes, private pools, as well as outdoor fireplaces and kitchens can all be included with construction of your home. • Great views, spectacular golf course and breathtaking homes. • Home sizes range from 1,830 to 3,000 sq.ft, From the low $500’s. • Membership (upon approval) to the Horseshoe Bay Resort, including privileges at the Jack Nicklaus Signature design golf course, Summit Rock.
F
T
he allure of the Texas Hill Country is legendary. People from Texas and beyond flock to the rolling rock hills west of Austin for the opportunity to enjoy the natural beauty, the traditional Texas lifestyle, and the luxury of world-class resorts and recreation.
L
ive a resort lifestyle at The Reserve. The newest Jack Nicklaus Signature design golf course, Summit Rock, is your backyard, and in Mr. Nicklaus’ own words: “This promises to be one of the most interesting and playable courses I have ever designed.”
O
wners in The Golden Bear Reserve are afforded membership at Horseshoe Bay Resort, with full privileges to play on the three existing golf courses and Summit Rock. Upon approval, initiation fees are waived to Summit Rock and the Horseshoe Bay Resort with ownership at the Golden Bear Reserve.
M
embership to the Horseshoe Bay Resort offers amenities that will keep your family having fun season after season. Three Robert Trent Jones golf courses, among the very best in Texas, and Summit Rock (The Jack Nicklaus Signature design golf course) are nothing less than spectacular. If you’re a boater, the “constant level” Lake LBJ provides hours of great fishing, skiing or just a relaxing cruise. The HSB Resort provides a full service marina, jet center, spa, world class pool areas, tennis center, walking trails and restaurants. Not enough time to play a full round of golf? Hone your skills on the Whitewater 18 hole putting course set in a lushly landscaped park-like setting. *Membership to Horseshoe Bay Resort is by application where it is subject to review and approval. Property owners who apply for membership pay no initiation fee upon acceptance.
or more information, please contact:
Chuck Strasburg, Director of Marketing
512-755-1222 • cstrasburg@gbreserve.com
Jamie Ament, Director of Sales
830-637-9396 • jament@gbreserve.com
Office: 830-598-5100 Website: www.gbreserve.com
Come to the Golden Bear Reserve at Summit Rock, where every day is a vacation. ©2011 Golden Bear Reserve. Prices, plans, specifications, materials, and configurations are subject to change without notice. Square footage and dimensions are approximate and calculations are based on customary architectural methods. Landscaping depicted not to scale and may vary as to maturity and number. Equal Housing Opportunity.
TheT heGraves Group presents art of Texas Hill Country real estate
Fair Oaks Ranch 4-3.5 + Study $489,900 Texas Hill Country 2-story on 2.55 acs.; horses allowed; open plan w/soaring ceilings & dual Fp. in liv. & fam. rms.; tile & oak flrs.; master dn. w/spa-like bath; Zars pool & cov’d deck.
Fair Oaks Ranch 4-2.5 + Study $648,220 2-story w/brick pillars & circular drive on 5.48 acs.; Saltillo tile flrs.; kit. w/dual din. areas & Sub-Zero; master w/outside access; game rm. w/wet bar; tennis ct., pool, spa & wet weather creek.
Mountain Spgs. Farm 6-5 + 2 Ha. Ba. & Study $925,000 Hill Country retreat on 6.04 horse friendly acs. w/tree-lined drive; 3 liv. & 2 din. areas; kit. w/copper venthood; master w/ Fp. & sit. rm.; screened-in porch w/Fp.; guest ste. over gar.; pool.
Boerne, TX 3-2.5 + Study $1,100,000 Sisterdale rock w/HW flrs. & wood beams on 15.8 acs.; open kit. w/granite, double ovens & wine fridge; master dn.; game rm. up; backs to Cibolo Creek; 4-stall barn w/tack rm.
Bergenplatz Ranches 3-2 $791,000 Stucco 1-story on private setting w/14.35 treed acs.; horse property w/income producing coastal field; open plan w/ vaulted ceiling & distressed hickory flrs.; 8-stall barn; arena & tack rm.
Pfeiffer Ranch Estates 4-3.5 + Study $1,450,000 Stone & stucco 1-story on 11.54 ag-exempt acs.; gourmet kit.; game rm.; master w/exer. area, screened porch & spa-like bath; pool, kit. & guest house; barn & pond.
Country Bend 4-3 $389,000 1-story rock home w/artistic interior on 1.78 cul-de-sac lot; liv. rm. w/Fp. & bar; kit. w/tiled counters & stainess; 2 din. areas; Saltillo tile flrs.; big decks, pool spa; horse barn & stall.
Denise Graves, RealtoR
®
CLHMS, CRS, ABR, GRI
Office: 210-698-4700 Cell:2 10-260-2176
Boerne, TX 5-5 + Study $995,000 Original Ammann homestead on 11.73 private acs. Updated stone home with Redondo tile & wood flrs.; Brazalian cherrywood bar top; granite kit. with stainless; Pavilion, saltwater pool, spa and waterfall. The Ranches at Joshua Crossing Lots $88,000 - $400,000 Horse-friendly gated community w/stunning views; 3-10 ac. tracts w/mature trees; underground untilities; quality restrictions; Comfort ISD.
210 E. Blanco Road, Boerne, Texas 78006 I 830-331-9898
I www.thegravesgroup.com
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By Austin Ruple
God blessed Texas! What a true statement this is when looking at the Texas real estate market. Despite a slight dip in the Texas economy and real estate market, we have been very fortunate in comparison to the rest of the world. Based on data from the Real Estate Center at Texas A&M University, the Texas real estate market has fared extremely well when compared to the rest of the country. For instance, land prices on rural acreage have sustained themselves through one of the largest financial meltdowns the world has ever seen. Land owners in Texas have experienced very little downturn in land values since 2008, and in many counties across the state, property values have actually increased, even substantially in some areas. According to Walt Franklin of Texas Ag Finance in Pleasanton, the ranch and rural land market in the Hill Country and South Texas “has remained relatively stable over the past few years” and “although the number of sales per year has decreased slightly, the price has held.” He credits one reason for this consistency being due to many of the land owners being in a position where they can withstand financial adversity and that even with the economic downturn, maintaining their property ownership is within their means. Franklin also notes that “many of the
36 | November 2011
landowners who purchased property prior to the very active years of 2005-2008 have experienced an increase in value to their property.” Transaction volume, however, has seen a significant decrease across the state, including the Hill Country since 2008. In the early 2000’s it was common to list a rural farm and ranch property, at the request of the seller, at a price level much higher than the perceived market. Within a few months, sometimes mere weeks, the market had already caught up, and the property was then priced behind the market and sold very quickly. A marketplace was created where numerous farm and ranch properties were bought and resold time and time again, resulting in a rapid increase in market values. Eventually, this increase came to a staggering halt when financial markets went into turmoil and the housing market took a dive. In 2010 prices began to stabilize. Higher populated areas, such as northern San Antonio and parts of the Hill Country tend to reflect increased property values due to more demand for residential homes and lots. “With continued demand for Hill Country land from people escaping cities like Houston, Dallas, and San Antonio, I don’t see land values declining,” states Charlie Hill of Cordillera Ranch. “Even though activity across all real estate types declined during 2008 and 2009, there was still some activity and we’ve seen it pick up in the last 18 months. The climate, landscape and beauty of the Hill Country still are and will continue to be in high demand because of these characteristics that distinguish it from other areas of the state – or country. It’s irreplaceable land and for that reason alone its value has sustained and, for some property types, even continued to increase in this recession.” Hill also notes that “land with good water resources (groundwater or surface water commitments) will see the greatest appreciation over the next 10 years. Home values are more difficult to generalize across large areas. In certain communities with strong restrictive covenants, beautiful landscape, vast array of unique amenities, and sustainable
water resources (via surface water), home values have held up and even continued to increase. In communities that lack this bundle of truly unique differentiating characteristics, prices will remain soft because these communities are ‘a dime a dozen’. The overall national real estate market is likely in for another year or two of softness, but limited supplies of available developed lots in the Hill Country will help uphold home values.” Moving further north and west from San Antonio, one tends to find less residentially dense areas resulting in larger recreational hunting ranches and agricultural properties. When looking at ranch land west of Kerrville toward Rock Springs and north toward Junction, a substantial decrease in transaction volume and in property values can be noted. On a positive note however, recreational ranch properties across the state are still in high demand. Quality properties in the Hill Country and across the state that have nice improvements, yet are not overbuilt, are seeming to show stabilizing values. Values on rural farm and ranch properties that are influenced by springs, rivers, and live creeks have also held fairly strong over the last several years. Despite the decline in transaction volume, there has been an awakening in the marketplace about the true versus perceived value and asking prices, of water influenced acreage. Overall, the Texas Hill Country remains a relatively strong market for quality real estate, and therefore a very desirable place to invest. Many factors have influenced property values in the more densely populated areas across the Hill Country and Northern San Antonio. When the housing market began to slow in 2007, most developers ceased all new acquisitions and halted new lot development, ranch values across the Hill Country were majorly impacted. Additionally, a difficult lending environment for residential, as well as commercial buyers also impacted sales volume and property values. Fortunately, some of the larger home builders and developers are beginning to reenter the market place, purchasing properties and developing lots for these higher density residential projects. Encouragingly, the last 2 quarters have displayed a steady uptick in new and preowned home sales in Central Texas. Additionally, several large developers have been sitting on the sidelines, holding large tracts of land, waiting for the marketplace to improve, and thus are now moving forward with the development of new lots. This is great news for Central and South Texas and across the Hill Country. Other buyers who may have left the
marketplace due to the economic downturn and political climate, have been waiting, building their cash reserves, and are also now considering reinvesting in the marketplace. Another factor that has assisted with the stabilization in the Texas market is the oil, gas, and mineral exploration. In South Texas it is known as the Eagle Ford Shale and in West Texas, the Permian Basin. The immediate result has been a major cash influx into many communities across the state. Over time, a significant amount of revenue will also be generated for the land and mineral owners, and as a result they will be looking for viable options to reinvest those revenue streams. Accordingly, one of those options for reinvestment will be rural farm and ranch land, which these land owners know, understand, and trust as a viable long term investment. With the change in these areas, many investors will potentially consider moving to other areas in Texas, specifically the Texas Hill Country. Low holding costs help make rural land a good investment. The tax exemption allowed by the state and counties for rural land owners that are using the land for agricultural purposes and/or wildlife preservation is another favorable reason to own rural land in Texas, as opposed to other real estate holdings such as residential or commercial properties, which are taxed on the current market value. When compared to the stock market, ownership of rural farm and ranch land has been a much more stable investment. Many of these investors have invested in rural ranch land for many reasons including low holding costs, recreation for family, friends, and clients, tax shelters, and most of all land has historically been a great investment. There is much optimism about the future of the real estate market across the state, especially the values in the Texas Hill Country. Continued low interest rates and a robust oil and gas market in central and south Texas will have a positive impact on the Texas Hill Country for years to come. Numerous banks and farm credit lenders are ready to make loans to credit worthy borrowers. The Texas economy and real estate market has been insulated, to an extent, over the last several years compared to the rest of the U.S., which has seen severe financial turbulence. There could still be some troubled waters ahead, but overall the Texas Hill Country seems to remain a great place to invest, as the area has sustained itself through a very trying financial period. Ultimately, this is one of the best opportunities in decades, to buy farm and ranch land in Texas.
Austin Ruple specializes in ranch sales throughout the Texas Hill Country including South Texas. He operates two offices, one is Boerne and one in Pleasanton, called Ruple Properties.
hcrer.com | 37
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