Summer 2016

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ADDING VALUE TO LAND As an added bonus, though, the intangible benefits of stewardship can also enhance the market value. “While our primary reason for wanting the ranch wasn’t financial, a good quail ranch in the Texas Rolling Plains has to increase in value because there just aren’t that many places to hunt wild quail,” Campbell said. Mark Matthews, a partner in Republic Ranches who is also a wildlife biologist based in Hondo, agreed that focusing on the ‘ecological bones’ of a property can add value, especially if aesthetics are taken into consideration. “Good stewardship that improves the quality of the habitat and the availability of water generally is time and money well spent,” he said. “Although people may not be able to express why they are attracted to a piece of property, they respond to the aesthetics of productivity and of nature.” In his experience seemingly little things can make a big difference in the way potential buyers perceive a recreational property. For instance, potential buyers respond more positively to a road that winds its way through a stand of bull mesquite instead of a straight road that is cut through a stand of switch mesquite. Brush sculpting that leaves a lot of edge trumps more “artificial” patterns such as checkerboard or strips. Potential buyers respond more positively to stock ponds that are built in an irregular shape with the creek drainage curving around behind as opposed to perfectly symmetrical stock tanks plopped in the middle of pastures. If the surface water can be enhanced with a “park-like” setting that includes large trees, it’s even more appealing. In drought years, he noticed that people respond to right of ways and riparian areas that is re-seeded with native plants so there was cover alongside the ranch roads and creeks hinting at productivity when the rains returned. “A majority of today’s buyers are looking for recreational property,” Matthews, who is a Texas Wildlife Association member, said. “Recreational buyers want the land to offer a promise of discovery. There are people who want to make the improvements themselves and then there are those who prefer to purchase a ‘turnkey’ property to maintain and manage.” Before joining Republic Ranches, Matthews was involved in a partnership that sought out ranch properties with the intent of improving them and reselling them. Their target market was the people who were searching for a ‘turnkey’ property. Generally, the partners looked for ranches that had been grazed continuously and hard with minimal water and infrastructure development. They considered the soil profile to determine if it would support diverse vegetation that in turn would support a species of interest such as white-tailed deer or quail. “By improving the overall quality of the habitat and the availability of water, we knew we could enhance the value of the property most directly,” Matthews said. Location and ease of access were secondary considerations, he said. While the partners got satisfaction from improving the land, it was a business so they began by determining the bottom line. Before purchasing a property, the partners would define the top of the local market, estimate the cost of the planned improvements and see if the difference between the two would allow them to turn a profit. “The laws of conformity affect ranch properties just like they do residential properties,” Matthews said. “You wouldn’t build a million dollar home in a $250,000 neighborhood. The same holds true for ranches. When looking at land as an investment, it’s important to know what the market will bear in a specific region.” As the partners began to plan their improvements, they would identify the property’s “sweet spot” whether it was a scenic water hole, a sandstone cliff, or a stand of ancient live oaks and make that the focal point. It would be the property’s epicenter with the improvements radiating from that location. While the improvements would vary from property to property, they would be practical applications that enhanced the land’s productivity such as brush management, range reseeding, prescribed burning, water development, or the property’s usefulness such as road and fence construction. Whatever management practices the partners implemented, they ensured the property to remain would remain under agriculture or wildlife tax valuation. “The wildlife valuation gives more management flexibility, but you have to have one or the other,” Matthews said. “In my experience, recreational buyers like knowing they hold a wildlife valuation because it speaks to their conservation ethic.” If applicable, the partners would also try to acquire high volume water rights. “Water is the driver of everything in Texas,” Matthews said. “Generally water rights are a good investment.” While the partners would invest in the land, they avoided investing in homes or other facilities that are subject to personal taste. “You can get into tricky waters quickly if you overbuild or overdevelop,” Matthews said. “To recover the cost of an extravagant home, you may have to price the land above the regional average. Then, you also have to find a buyer who is attracted to the style home you’ve chosen to build. In my experience, many recreational buyers want to spend their money on land not a big house.” To that end, Matthews suggested identifying potential building sites on the ranch and improving their aesthetics, but not actually constructing anything. He also cautioned against inadvertently using prime home building locations for ranch infrastructure such as barns. “People, even those who aren’t comfortable doing the initial restoration work, want to leave their imprint on the land,” Matthews said. “They, too, want to leave the land better than they found it, so it’s important to create opportunities where they can do that by building on the foundation you’ve laid.”
BETTER OFFERING THE VERY BEST REAL ESTATE SERVICES AVAILABLE MORE KNOWLEDGE VISION TALENT INTEGRITY INNOVATION REPRESENTATION NETWORKING PHOTOGRAPHY PRESENTATION MARKETING LANDMAGAZINES.COM 31
Page 1 and 2: SUMMER 2016 LANDMAGAZINES.COM
Page 3: ON THE COVER Deep Hollow Creek Ranc
Page 8 and 9: FARM ® CREDIT Supporting Rural Com
Page 10 and 11: TEXAS LAND / Contents 32 80 36 28 1
Page 12 and 13: TEXAS LAND / Editor Room to Roam. P
Page 14 and 15: Hillingdon Ranch by David K. Langfo
Page 16 and 17: Raffle Opens for NDOC Henry Long Co
Page 18 and 19: Home Cooling Solutions Multiple Roo
Page 20 and 21: TEXAS LAND / Contributors JACQUI DA
Page 22 and 23: 18 TEXAS LAND / Profile
Page 24 and 25: Faust is a moving target. He has a
Page 26 and 27: TEXAS LAND / Portfolio The Kenmore
Page 28 and 29: The Old Post Oak Ranch was purchase
Page 30 and 31: Time Tested and Trusted Professiona
Page 32 and 33: TEXAS LAND / Market the value resto
Page 37 and 38: LANDMAGAZINES.COM 33
Page 39 and 40: Details PROPERTY GILLESPIE COUNTY R
Page 41 and 42: Marketing 101: Strategies for Hunti
Page 44 and 45: A M E & R I C A N FARM RANCH TIMBER
Page 46 and 47: 42
Page 48 and 49: TEXAS LAND / Profile “As the popu
Page 50 and 51: Double B Ranch & Resort The 555± a
Page 52 and 53: 48 TEXAS LAND / Portfolio
Page 54 and 55: The 17,132± acre Rancho Agua Grand
Page 56: HoodRealEstateInc.com Howard W. Hoo
Page 60 and 61: Details PROPERTY SUPER M RANCH 1,79
Page 62 and 63: Rocking W Ranch Rocking W Ranch, lo
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Page 66 and 67: TEXAS LAND / Portfolio The V&K Ranc
Page 68 and 69: Details PROPERTY RANCHO ESTRELLA 8,
Page 70 and 71: TEXAS LAND / Portfolio Water for wi
Page 73 and 74: eal view V I D E O PRODUCTION POST
Page 75 and 76: TABLE 1 | Minimum Width For Vegetat
Page 77 and 78: FARM CREDIT Supporting Rural Commun
Page 79 and 80: TEXAS LAND / Market Flood Determina
Page 81 and 82: TEXAS LAND / Portfolio This 432± a
Page 83: In the great state of Texas, both h
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KEY FACTS 33,800± Fee Simple Acres
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CONGRATULATIONS TO Hunt H. Hellums
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Y L O M We Can Help You Buy Or Sell
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Details PROPERTY SOUTHERN STAR RANC
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TEXAS LAND / Portfolio Picosa Creek
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Texas Big Game Awards Statewide Cel
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Summer 2016

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