Commercial tenants finding it hard to meet their lease obligations, whether temporarily or permanently, can try setting down with the landlord to discuss a lease workout. By negotiating reduced rent for an agreed upon period, the tenant may buy time to recover financially, and the landlord may avoid the expense of eviction and re-leasing the space.
Texas property taxes are high compared with many other states. But when the overall tax burden for a family of three is considered, Texas taxes are among the lowest in the nation.
The roller coaster ride of the last ten years isn't over just yet. Before the housing market can return to normal, the large inventory of available properties needs to be sold. That could take between 1.5 and three years.
Laredo's industrial market weathered the recession and is ready for the future. Freight is flowing efficiently across five bridges. New "weigh in motion" technology records truck weights as they drive over a sensor, and huge increases in the value of automotive and cell phone equipment shipped has positioned the city to better compete with Asian markets.
Texas aggregate income is improving but at a slow pace. The income increases are in part attributable to government spending at both the state and national levels. Government spending is unlikely to be cut anytime soon. Private sector recovery is lagging behind.
Commercial real estate professionals have expressed frustration with the paucity of transactions. Suggestions for jump-starting the stalled market include reviving the Resolution Trust Corporation, creating a system of real-time valuations, and encouraging the government to set the rules and get out of the way.