A real estate attorney with clients in areas like Katy, Texas or Sugar Land can tell you that as of September 1, 2015, Texans have a new vehicle for transferring an interest in real property found in Chapter 114 of the Texas Estates Code. The new statute, better known as the Texas real property transfer on death act, represents a way to deed real property today but delay the transfer until the grantor dies. Did you know that real estate taxes and mortgage interests are typically the only deductible expenses associated with personal residences and vacation homes? But if the home is converted to rental property, additional costs are deductible, including a loss from its sale.
There are two types of vacancy rates: natural and actual. By comparing both along with historical vacancy trends, a real estate attorney can anticipate commercial real estate rental trends. While Texas home sales in general have recovered other the past few years, it’s not surprising that areas like Houston and Dallas have expanded more than smaller towns like Cuero or San Antonio, Texas. Three major things that will impact Texas’ economy in 2016 are the oil and gas industry, the overall U.S. economy and the value of the dollar.
What is your opinion on whether the housing market will be steady in 2016? Can you tell whether in the past four years there has been a significant imbalance between demand for housing and the supply offered for sale? When people are not buying homes, home builders may slow down rather than continue to build. Regardless, some people will decide to buy or sell before interest rates go up.