5 ways Texas real estate changed forever in 2015

This was a big year for Texas real estate. You and your clients will see 2015’s outcomes in many ways, including when you pay property taxes, use TREC or TAR forms, or close on a real estate transaction. Here are five of this year’s outcomes that are worth revisiting.

Success at the Capitol
The 84th Texas Legislature may have been the most successful legislative session in history for the Texas real estate industry, with changes affecting real estate brokers, HOAs, property managers, and others.

Closings have changed
New rules from the Consumer Financial Protection Bureau resulted in new forms and new procedures for closings.

A huge Election Day win
Statewide Proposition 1 on the November 3 ballot passed with 86% approval. The measure increased the homestead exemption for Texas property owners and permanently banned real estate transfer taxes in Texas.

Revised forms take effect New Year’s Day
The Texas Association of REALTORS® and the Texas Real Estate Commission revised several forms effective January 1, 2016.

Record-high housing activity
This may have been a record year for Texas real estate as all segments of the state’s housing market are showing strong gains

 

Original article: https://www.texasrealestate.com/advice-for-texas-realtors/article/5-ways-texas-real-estate-changed-forever-in-2015

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