FEATURED PARTNER:
Contact Frank Ivy or Celia Holbrook for your Commercial Real Estate Financing!
New Tax on Commercial Real Estate?
A state representative has floated three new proposals to fund Texas schools, including taxing commercial property on a statewide basis. The plan could make it easier to raise taxes on commercial property. Although the next legislative session doesn't begin until January 2017, politicians are always wrestling with issues that affect commercial real estate. You can play a part in making sure public policy decisions are good for Texas property owners and REALTORS®. Find out the many ways you can keep the real estate industry strong in Texas.
Real Estate Appraisers Should Use Drones:
Back in May of 2015, the Federal Aviation Administration officials told Realtors they still couldn't use drones at the Realtors Legislative Meetings & Trade Expo. At that time the FAA was still working on the rules for the drones, however they did mention that Realtors could apply for a Section 333 waiver, which provided a limited-use permit to the applicant and came with many safety restrictions on use of the machine. Well now, the rules are finalized. They were made official at the end of June. Here is a summary of the small unmanned aircraft rule from FAA. Commercial drone operators are no longer required to hold a pilot's license, according to an blog by Greg Mays for the National Association of Realtors. The blog emphasizes the importance of the use of drones for real estate appraisers.
Texas Small Land Sales Report:
Texas small land sales were the strongest segment of the Texas real estate market in 2015, with double-digit increases in sales and price per acre, according to the Texas Small Land Sales Report released by the Texas Association of REALTORS®.
Overall highlights:
- Texas land was very popular in 2015. Getaway homes, ranchettes, and hunting properties continued to grow in popularity across the state as the Texas economy continues to prosper, particularly in areas surrounding Texas' major metros.
- There were 6,281 small land tracts sold in Texas in 2015, an 18.91% increase from 2014. This double-digit growth was consistent across all seven regions, with the exception of Region Five (Gulf Coast – Brazos Bottom).
- The average price per acre for Texas small land sales also showed strong gains in most regions in 2015, increasing 10.21% year-over-year to $5,657 per acre statewide.
- Median tract size decreased slightly across the state as strong demand for Texas real estate continues. The average tract size dropped 13.33 percent to 39 acres statewide
SafePlace School Supply Drive a Success:
Special thanks to everyone who donated school supplies at our July luncheon for SafePlace School Supply Drive. With school starting back up next week, they were very excited to receive such a large load of supplies. Thanks to the Independence Title Co team for bringing in a large portion of the items. We will be holding more fundraising drives in the future to continue to give back to the community. Here is more information on SafePlace and their mission.
INDUSTRY EVENTS
Commercial Events @ TAR Convention in Galveston in September:
We hope to see you at the upcoming Commercial events on September 7th and 8th during the Texas REALTORS® Conference in Galveston, Texas at the Galveston Convention Center. More details can be found at our website.
CCIM Golf Tournament:
CCIM Central Texas (an NAR affiliate member) has invited CTCAR members to play in their annual golf tournament scheduled for September 7th, 2016 at Flintrock Falls Country Club in Lakeway. You can find more information on this event at their website. Invite your clients & golfing buddies to support CCIM Scholarships.
ABOR Realty Round Up:
Hosted by the Austin Board of REALTORS®, Realty Round Up scheduled for 10/19/2016 is the largest real estate-oriented tradeshow in Central Texas. In 2014, more than 2,000 professionals attended Realty Round Up for a day of professional development and networking opportunities. More Info.
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Published by CTCAR (Central Texas Commercial Association of REALTORS). WWW.CTCARONLINE.COM
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