Chasing Gentleman Bob – Quail of the Rolling Plains

By: Justin Bryan

Bobwhite quail are a boom and bust species. With an average life expectancy of one year, their reproductive ability must be able to make the most of a good situation. For us in the Rolling Plains region of Texas, a “good situation” is defined by maintaining 100% usable quail habitat on any given property. This includes an abundance of nesting sites, escape and loafing cover, and praying for cooler than normal, wet summers. Fortunately, we can control the range conditions (i.e., quail habitat) through proper grazing, unfortunately we cannot control the weather.


Below is data collected by Texas Parks and Wildlife Department, which represents the mean number of quail observed along defined routes per year for the Rolling Plains.Notice the “booms” and “busts”? Those once again are tied to range and weather conditions and more importantly represent years you can hunt and years you likely should not. As quail enthusiasts, we would like to hunt good populations of wildlife quail every year.


Our goal as quail managers is minimize the drop in the “busts” and maximize the increase in the “boom”. We do this by implementing mechanical, chemical, prescribed fire and judicious grazing techniques to enhance the habitat and then pray it rains. For more information on quail habitat management in Texas, contact Justin Bryan at 325-260-5883.




Happy Holidays & Welcoming New Managing Director Monte Lyons

By: Joel Leadbetter

This time of the Holidays spent with friends and family is quite special.  We all have the opportunity to reflect on the previous year and count our blessings.  This year has been very special for us at Hall and Hall for which we are very grateful.

We celebrated our 70th Anniversary and I believe each and every one of us are extremely proud to be associated with this company and what it represents.  We feel privileged to be a part of something bigger to carry forth the vision of the founders: Henry Hall Sr., Henry Hall Jr. and Warren Hall.

We have had great success in each of our business enterprises through the course of last year.  Of course, the catalyst to this success is due to our unbelievably supportive clients and customers.  Without them, none of this would happened.  Thank you.

I have finished my five-year tenure as a Managing Director of the company.  It has been my pleasure and honor to serve in this capacity.  Monte Lyons, in our Lubbock, Texas office, will take the reins on the first of January and he and Mike Hall will continue to drive this company forward providing the highest level of service for our clients.

I would like to thank my partners and colleagues at Hall and Hall for affording me this opportunity. It is something I will cherish and remember for the remainder of my career.  Most of all, I would like to thank my wife, Dawn, for putting up with me.  She is the one that had the heavy lifting.

I hope everyone had a Merry Christmas, and all of us at Hall and Hall wish all of you, the greatest of success in 2017.


Good Time to Leverage Ranch & Farm Real Estate

By: JT Holt

Seems everyone wants to be debt free.  Recently, a mentor referred to a statement his mother made to him when he graduated college and was purchasing his first home in the early ‘80s.  The statement that has resonated with me for some time now, goes like this: “Son, I’m sorry that you had to purchase your home on the time.”  As this makes me chuckle, it brings up a good point and makes one begin to deliberate when is, or when will, debt be a good thing?  If you are able to obtain a greater return than the interest rate available, doesn’t it make sense to leverage an asset to generate greater returns?

The biggest competitor for me as a lender these last several years has been cash!  Why would you not utilize your cash in a farm or ranch real estate purchase, with no other stable returns of any significance in the market place? It was proven by the large amounts of cash that flooded the farm and ranch real estate market.  The recent moves in interest rates, the availability of financing, and the equity that has been lost all pose the question, “Is now the time to leverage my farm or ranch real estate?”

texas ranch for sale, lucky star ranch, texas rangeland

Lucky Star Ranch

Since the recent election we have seen the 10-year treasury go from 1.80 To 2.54, which has some direct correlation to our interest rates.  Long-term fixed rates have taken the greatest hit overall, at this point, but we have seen a significant increase in farm real estate interest rates recently, although they are still significantly lower than historical averages.  The concern is, will rates continue to rise in this economic environment?  Now may be the time to take advantage of these low rates and pull some of the equity out of your farm or ranch real estate.  Do you need to lock in a low fixed rate today?

The availability of financing may be a greater issue than you realize.  As we saw the collapse of the financial markets in 2008, we saw a significant tightening in farm real estate loans.  As farm loans became more difficult to acquire, it caused greater strain and financial concerns for producers.  The offset of this was the profitability of farming and ranching during this cycle and the cash in the marketplace.  Right now we are actively seeking opportunities to finance farms and ranch real estate.  In this search, we are seeking out the top producers, those that have a strong financial position and those that have equity in their farm or ranch real estate that we are able to leverage.  Is this you?

Significant equity has been lost over the last three years in farming and ranching.  Row crop farmers are going on three years of losses while the rancher is most likely seeing it for the first time in his operation this year, and if not, definitely a drop in income.  Now may be the time to restore that liquidity position.  Did you utilize cash to purchase some ground and now need to restore your cash position?

Robinson Bar Ranch

Robinson Bar Ranch

All in all, now may be the time to look at utilizing the equity in your farm or ranch real estate by taking out a farm loan before rates move too far.  Farm real estate loans are still attractive to your lender, and it allows an opportunity to restore your liquidity position.  Is now the time to leverage one of your most valuable assets and “buy it on the time?”  Call us today and let’s talk through your many farm and ranch loan options.

Investment Quality Rural Real Estate for Families

Jim Taylor and Tyler Jacobs were invited by Angelo Robles to speak at a meeting of Single Family Offices at the beautiful Carneros Inn in Napa Valley. Single Family Offices are increasingly ubiquitous as wealthy families are setting them up to manage and diversify their investment portfolios as well as manage their personal affairs.

Carneros Inn in Napa Valley

Carneros Inn in Napa Valley

Jim had an opportunity to speak on his favorite subject – Investment Quality Rural Real Estate (IQRRE). He began by defining IQRRE as real estate whose value comes from qualities that are intrinsic to it. These are enduring qualities that will always have value regardless of what happens in the world.

He had an opportunity to compare rural land to the offerings of previous presenters who talked about more traditional investment real estate like office buildings and apartments. Key differences include the fact that farms and ranches do not depreciate nor do they become obsolete and they have a 55-year history of appreciating at around 6% per year. In addition, while we can build an unlimited number of apartments and office buildings, they simply are not making any more land. Quality rural land will always have value and, by the way,  has a zero vacancy rate.

There will always be tenants for farms and ranches and, while returns are modest compared to the double digit returns promised from leveraged apartments and office buildings, we were able to show that annual cash returns will more than carry investments in operating farms and ranches.

Jim Taylor on a ranch in Montana.

Jim Taylor on a ranch in Montana.

The audience of families and their advisers was made to order for IQRRE. Quite apart from appreciating the concept of having a portion of the family wealth invested in a hard asset that will support itself and appreciate over the years, the intangible benefits derived from the joy and pleasure of ownership and of having a place for the family to gather and to introduce the next generation to nature and to the tangible benefits of production agriculture is immeasurable.

The message was well received and, despite some persistent rain showers, everyone appreciated the understated elegance of the Carneros Inn and the many opportunities to enjoy the Napa Valley which is truly the wine capital of the USA.


Napa Valley

Father Son Fall Hunting in Montana

By: Ryan Flair

As the air becomes crisp and the leaves turn to hues of gold, my favorite time of the year has arrived.  Fall when I share with my son all that Montana has to offer. Whether listening to the bugle of Elk, fishing for fall browns,  or chasing our bird dogs across the prairie,  it is in these moments I find peace and the world comes to a slow and steady pace.

Father and Son-1

Slipping away from the bustle of life, cellphones, internet, and other daily distractions, and spending time with my family in the world as nature intended is cherished time indeed.  I am so thankful and fortunate to call this place my home and have the opportunity to help with our clients’ journeys as they create their own wonderful moments like these.

We at Hall and Hall want to wish you all the best this fall season and are thankful to have been part of your experience.

Outstanding in your field-1

Monday Morning Conference Calls

By: Jeff Buerger

Every Monday morning at 7AM sharp, we at Hall and Hall, participate in a conference call. This call includes partners and support staff we simply can’t live without. At first glance, this might sound boring and mundane. However, I have grown to genuinely appreciate and love our Monday morning calls. When I step back and think about the collective experience of my partners, their history and credibility in the industry, and the rationale and purpose behind our weekly call, I am humbled to be part of such a unique group of people.

The men and women on this call are like family and like any family; we discuss a diverse and wide variety of topics including very challenging issues, there may be disagreements, there is humor, there is sensitivity and compassion towards others, we share important events like marriages, child birth, loss, and personal struggles we may be experiencing that require help from other people internally. I was raised on a ranch in Colorado and have over 20 years of experience selling ranches, however this pales in comparison to some of the men I work with. Our Monday is started with opportunity to learn and grow not only individually but as a team. When I need counsel or guidance, there are numerous people I can look towards. This value can not be measured or quantified and is one of the reasons Hall and Hall will always be different and unique compared to other brokerages.

Denver. A native of Colorado, Jeff Buerger joined Hall and Hall as a ranch partner in 2003.

A native of Colorado, Jeff Buerger joined Hall and Hall as a ranch partner in 2003.

If it weren’t for the amazing team of people that take care of the partners and keep us on track, we wouldn’t have the success that we are fortunate to experience. Most importantly, the primary purpose for our Monday call is ultimately for the benefit of our clients. Both landowners and prospective buyers are the beneficiaries of our call. We discuss topics like new ranches we have recently listed and through this process the partners learn that this new ranch may be the perfect fit for the buyer they have been developing a relationship with. Or there may be a change in status on a ranch we have been marketing that leads to a sale. Not too mention, the intel we all share or learn from one another about specific ranches, the market, world events, advancements in technology, the flow of money, and numerous other informational points.

The call is the culmination of men and women of different generations, age demographics, experience, expertise, transnational history, and a whole lot of wisdom all flowing together for the benefit of the people most important to us…..YOU. For those who have decided to use Hall and Hall for one or many of the services we provide; know that you are the lifeblood of what we do and the importance of this is discussed in detail every Monday morning, among the best group of people I know.

For 70 years, Hall and Hall has specialized in serving the owners and prospective owners of quality rural real estate by providing mortgage loans, appraisals, land management, auction and brokerage services.

For 70 years, Hall and Hall has specialized in serving the owners and prospective owners of quality rural real estate by providing mortgage loans, appraisals, land management, auction and brokerage services.