TexasWaterFrontRanches

A new rule approved by the Texas Department of Insurance and adopted in August allows title insurance companies to take a “Blanket Exception” on their responsibility to determine whether a landowner owns the mineral rights to their property. Under the rule, title insurance companies no longer have to do extra title searches on a property, and it also may protect them from legal action.

The new rule will make it harder for landowners to determine if they own the mineral rights on their property, but may not lead to a discounted price with (arguably) reduced coverage. A panel of judges have held a hearing in the past few weeks regarding insurance rates, and are currently reviewing paperwork and evidence. Insurance industry groups are seeking an increase in title insurance rates, while the Office of Public Insurance Counsel (which represents consumers) agrees with the new rule, but is seeking a rate decrease. Title insurance rates are typically higher in Texas than other states, and are set by the Insurance Department. The decision by the panel will come in November.

Title companies say that forcing them to insure mineral rights statewide on every piece of property they insured would be too high of a cost burden that would cause insurance rates for all consumers to skyrocket. Critics call the new rule less work for the insurance companies at the same rates.

 On if property owners should receive a discount, Deputy Insurance Commissioner Robert Carter, who oversees Title Insurance, says: “[the State Insurance Commissioner Mike Geeslin] wants to hear that issue in the future.”

Buyers or sellers are required to buy title insurance on almost every land transaction. A title policy is essentially a guarantee that the title company will defend the owner in court if there’s ever a dispute about the ownership of a piece of land. Title companies typically run a records check before issuing a title policy, to make sure there’s no cloud over the chain of ownership or over other issues such as easements. Typically, the title company will include a list of exceptions, such as alleys, that are not guaranteed under the policy (explains  Mike Lee of the Fort Worth Star-Telegram, who first reported this story).

East Creek

September’s #2 Top Real Estate Deal for Austin is even a better deal than before – a new price reduction has the East Creek gentleman’s ranch listed at $1,500,000.

See the listing for this stunning property here and read about this 5,700 sq ft Texas limestone home, completely updated 2004-2005, set among mature oaks and featuring a sparkling pool with waterfall and slide.

Dream Horse Property

The Dream Horse Property in McDade has also been reduced, to $1,995,000. Your horses will feel at home on these 51 acres of sandy loam soil, rolling hills and green pastures, and you will love the 6,800+ custom home with luxury features and beautiful design.

Read more about the property here, or see video of the outside of the home and all the horse features here.

Hill Country

Cow Creek

30+ acres surrounded by tall peaks with frontage on clear, limestone bottomed Cow Creek. Cleared, manicured land reveals big oaks and elms, nice grasslands – perfect for horses, hunting and grazing. Incredible Hill Country views throughout. Small hunting cabin with covered storage and fenced corrals. Entire property is fully fenced and gated with plenty of wildlife, including deer, turkey, and dove. No hunting restrictions, no deed restrictions. Accessed via the Preserve at Balcones Canyonland neighborhood (but not part of the community). This is the perfect Hill Country hideaway! See the listing here.

Farm Credit specializes in financing rural real estate in the south, and they offer plenty of free advice with their Fenceposts Blog and Landscapes Magazine articles. 

Also on their site, they offer Tips for Buying Rural Real Estate. These tips can be helpful for both someone new to ranch real estate or anyone who wants to make sure nothing is overlooked.

1. Local Advice

Get the advice of a local Realtor or loan officer who is both experienced in rural real estate, and knows the area well. They will know the local market, may know the histories of the properties in the area, and they can put you in touch with contractors and service providers.

2. Infrastructure

Be sure to ask about water and sewer services, trash pickup and road maintenance, school bus service, electric, phone, cable and high speed internet.

3.   Tax Advantages

A rural property may qualify for a tax credit, special appraisal or direct exemption. There may be existing ag exemptions.

4. Environmental Factors

By law, the presence of endangered species may limit ability to do some things like clearing brush or constructing buildings. Federal law also holds landowners accountable for contamination cleanup even if it occured before they owned the property – buyers can predetermine some environmental hazards and obtain  some liability protection.

Sandy Ranch

5. Codes and Restrictions

Government restrictions, county subdivision laws or extended territorial jurisdictions may affect subdivision of land.

6. Insurance

Some providers might not offer insurance for outside of city limits.  Your Realtor or loan officer can help.

7.  Local Land Use

Pay attention to what others in the area are using land for (for example, if you are ok living next to a large livestock operation) and any proposed developments.

8. Property Improvements

Improvements (such as fences or walls) can be expensive, especially on large properties. Certain improvements (such as septic systems or wells) may require certain county permits. Look into any permits and construction costs first, as well as needed well depths and septic system requirements for the soil conditions.

9. Maintenance Costs

Landscaping, repairs, equipment, and any building will all require additional costs.

10. Financing Country Homes

Some mortgage companies may only finance a certain number of acres, your Realtor can help you find a lender and the loan you’re looking for.

Rivercliff Entry

Frank Lloyd Wright architecture and contemporary interiors create this masterpiece on a bluff overlooking the Pedernales Arm of Lake Travis.

This 6,733 Sq Ft, shake roof home was built in 2008. It has 5 Bedrooms and 5.5 Baths and a cool, contemporary finish with stone floors and accents; rift cut oak ceilings, doors, cabinets and accents, and stone fireplaces.

The 5 manicured acres features a man-made stream spilling into a pond, and flowing under the entry.

Great Room

The great room, at entry with elevated foyer, has a wood arched ceiling and a granite and stone fireplace with rift cut oak accents. The dining area is open to the great room and has two story ceilings with a stone floor. There is also a wet bar with exotic granite counters, ice maker and refrigerator open to the dining area.

The kitchen is open to the family room also with exotic granite counters, rift cut oak cabinets, stone floors, two sinks and breakfast area with seamless windows looking to the pool and patio.

Master Closet

The two story NanaWall Window System opens to the Infinity Edge pool, patio, and hill country views.

The master bedroom features a stone fireplace, double doors to the patio and NanaWall Window System running the length of the room with seamless corners and folding doors opening to the private, Infinity Edge soaking pool. The master bath has exotic granite counters, stone floors, jetted tub, walk in double shower and doors to the private patio. The master suite also has a huge, custom walk-in closet with center island and granite countertops.

Kitchen

The private office in the master suite has custom built ins, and door to the private stone patio.

A family room has fireplace with granite , rift cut oak wall accents and window trim. An office or bedroom has full bath, seamless windows and entrance to patio. Two other bedrooms have full bath and doors to patio. The guest bedroom has full bath, walk in closet and private stone patio. The home also has utility room and secondary storage room, and attached 4-car garage with air-conditioned pet room.

Back, Pool

Altogether, 2,210 Sq Ft of stone patios with firepit surround the Infinity Edge pool spilling into overflow pool with spa and fountains.

The covered patio with stone decking off bedrooms leads to tram accessing waterfront. The stone path leads to arched entry with glass facade and wood ceilings.

The home is located near Austin Country Club in the gated community of Rivercliff in Spicewood, Texas, 10 minutes to the new Hill Country Galleria and 30 minutes to downtown Austin.

Equestrian Center

This home can be purchased for $3,750,000 or combined with a 32 acre horse stables, covered riding arena and 3 bed, 2 bath guest home to create your dream luxury ranch.

The 32 acres are fenced and cross fenced, with 5 contiguous 6+ acre lots all ag exempt. Electronically controlled stone and wrought iron gates create the entry, leading to 18 stall horse stables with limestone interior, each with doors to turnouts – 4 foaling stalls and 12 day stalls. Can easily be expanded to include additional stalls. Includes tack area, wash stall, store room and high bay doors on both sides for trailer or RV parking. Gates on both ends allow for trucks, trailers and RVs. The covered stone and split rail fenced riding arena is 100 ft x 200 ft.

Guest Home

The limestone guest home was built in 2006 and includes wood and tile floors with stone accents. The large living area includes a stone fireplace and open dining. The kitchen has granite counters and recent appliances. The master suite has a kitchenette, walk in closet, full bath, and sitting area. The home also features attached two car garage and pond at gated entry.

Owner will consider seller financing, call for details.

You can see the home listing here, and the stables/arena/guest home listing here. Call us today!

Take a tour without leaving your chair…enjoy!

The listing is available here.

A jet skiier enjoys Lonesome Bayou

Recreation with family and friends is the focus of the Lonesome Bayou Ranch. This 100 acre waterfront property is sold turnkey, down to the dishes and towels, but also is sold with a 16 foot boat (and trailer) and 2 jet skis (with trailer); and the property features a concrete boat launch and boat slip along with jet ski slip. Other waterfront recreation opportunities include three fishing docks with floodlights and aerated swimming pond.

Other items with sale include 4 four-wheelers (with trailer), dune buggy and jeep to enjoy the horse/ATV trails through the woods and green pastures.

These videos are taken from the Lonesome Bayou Ranch, one from an ATV and the second from a jetski. The last is a virtual tour.

Lonesome Bayou Listing and Photos