A NOTE FROM YOUR LAND BROKER, CHARLES
As we do every year in April, our team attended the 33rd annual Outlook for Texas Land Markets located in San Antonio, Texas. The event set a record for attendance with brokers, agents, lenders, appraisers, and land owners eager to hear from industry experts on what we could expect in the land market in 2024. There was a lot of optimism throughout the two-day event and over the coming months we will be diving deeper into the following topics:
Prices: Statewide prices are likely at near-term highs, and we’ve experienced a 0 to 2% statewide price growth for 2024 overall. Texas is expecting statewide prices to decline later this year and into 2025.
Sales Volumes: Sales volume is at or close to near-term lows. We’re expecting increases in Q3 or Q4 of 2024.As for Capital Ranch Sales, April was another great month for the firm. In total, we closed on 12 ranches sold across 8 counties, totaling over $22MM in sales volume. Reflecting on those deals reminds me of how blessed I am
to help people achieve their ranch buying and selling goals in the great state of Texas. As we look towards May, we have some great ranches we are bringing to market that we can’t wait for you to see.Stay tuned and see you next month!
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INDUSTRY RELATED NEWS
Transferring Property Prior to Death: Pros, Cons, and Alternatives
I frequently field questions where a landowner is trying to decide whether it would be better to transfer his or her property to the next generation (or their identified heir) while the landowner is still living, or wait until the landowner has passed away.
I always try to outline the pros, cons, and highlight two other options here in Texas that may allow a landowner to receive the pros and avoid the cons of a transfer prior to death.
Click here for the full article!
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