July 2013

Texas’ history and economy is drenched in the oil and gas industry. Since the 1980s, though, the state has become more industrially diverse, which fosters more stability in the economy when oil prices are down.

With its population projected to grow by 30 million between now and 2050, Texas is a shoo-in to win any growth rate competition. Think of it as a race from now to the future, during which the state is sure to encounter challenges. Not the least of these will be housing all those folks.

What do Texas’ 253 appraisals districts have in common? Not enough, apparently. To encourage all districts to march to the beat of the same drummer, the state comptroller’s office is reviewing county appraisal standards, procedures and methodology every other year.

The Eagle Ford Shale is pumping out raw material for the revived petrochemical industry in the form of natural gas and natural gas liquids. Plastic and other types of petrochemical plants lining the Houston Ship Channel are prospering mightily.

Forget all the references to a “home price” bubble in the mid-2000s. Center research reveals that it was a “land price” bubble that caused havoc in California, Nevada and other states. As for Texas, it flew above the crisis thanks to plentiful land and less restrictive development processes.

In an ideal world, every real estate transaction would close quickly, and commissions would be paid without fail. But on this planet, the process may have some hiccups. Here’s what Texas case law tells us about commission controversies. Just so you’ll know, there are no cookie-cutter answers.