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There is no doubt that the Wildfires in Texas have subsided momentarily. Thunderstorms have helped quite a bit, especially in the Northeastern area of Texas. However, we are not out of the woods yet. According to the Texas Forest Service as of May 23 there are still fires currently burning in Archer County. This particular fire is 10 miles south of archer city and is 50% contained from the use of helicopter support. This fire’s fuel is mostly grasslands and assorted native plant life. So far, over 500 acres have burned. It is important to remember that there are still Burn Bans in most counties all over Texas. Wind gusts of over 20 MPH are forecasted for the next few days. These gusts will fuel any small, uncontrolled fire out of control in a hurry so it is imperative to be cautious when dealing with fire or even a truck in high grass. Do not underestimate the power of these fires. This is a dangerous threat and we need to keep our eyes on our investments.
Be sure to have insurance on your improvements. The more you invest in insurance the better off you will be after a fire. It has even been reported that high-end insurance companies such as Chubb out of Dallas took extra precautions to keep their insured properties safe. They did so by outsourcing fire preventative services to spray their insured properties. The lesson here is that if you are going to have any money in Texas Real Estate this year, make sure that your insurance is current and your coverage includes fire. If nothing else, you will have peace knowing that your property investments are safe and sound.
Below is a map showing the locations of fires in the United States and Mexico:
