Mortgage Loan News – RR Reading http://rrreading.com/ Mon, 03 Jan 2022 18:08:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://rrreading.com/wp-content/uploads/2021/03/rrrreading-icon-70x70.png Mortgage Loan News – RR Reading http://rrreading.com/ 32 32 New year, new laws: 23 laws come into force on January 1 in Texas https://rrreading.com/new-year-new-laws-23-laws-come-into-force-on-january-1-in-texas/ Mon, 03 Jan 2022 17:33:35 +0000 https://rrreading.com/new-year-new-laws-23-laws-come-into-force-on-january-1-in-texas/

The Texas State Capitol in Austin

From chicken coops to police funding, 23 new laws came into effect in Texas on January 1. Some provide relief for disabled veterans and places of worship while others relate to the creation of municipal management districts.

Here is an overview of these new laws with information provided by the Texas Legislature:

HB 115

Relating to the exemption from ad valorem taxation of certain property owned by a charity and used to provide housing and related services to certain homeless people.

HB 531

Relating to the notification requirements for rented accommodation located in a floodplain.

HB 1197

Relating to the period during which certain land belonging to a religious organization for the purpose of expanding a place of religious worship or building a new place of religious worship may be exempt from ad valorem taxation. This means that a parcel of land contiguous to a parcel of land in a church cannot be exempt for more than 10 years.

HB 1445

Relating to the applicability of sales and use tax to medical and dental billing services.

HB 1689

Relating to reinsurance credit governed by certain covered agreements and ceded to certain assuming insurers.

HB 2237

Relating to the privileges of the mechanic, the contractor or the materialist.

HB 2535

Relating to the valuation for ad valorem tax purposes of real estate that includes certain improvements used for the non-commercial production of food for personal consumption. By law, poultry houses and rabbit pens are excluded from the analysis of the property value of personal property.

HB 2730

Relating to the acquisition of real estate by an entity with eminent state authority and the regulation of easement or right of way agents.

HB 3131

Relating to the information to be included in the certificate of incorporation of a filing entity.

HB 3777

Relating to fees and expenses eligible for the purposes of the franchise tax credit for the certified rehabilitation of certified historic structures.

HB 3788

Related to the training and education of Assessment Review Board members.

HB 3961

Regarding the mandatory posting of information about the state long-term care ombudsperson’s office on the websites of certain long-term care facilities.

HB 3971

Relating to the assessment for ad valorem tax purposes of a residential building located in a designated historic district.

HB 4638

Relating to the creation of certain municipal management districts; give the power to issue bonds; give the power to impose contributions, fees and taxes.

SB 23

Relating to an election to approve a reduction or reallocation of funds or resources for certain county law enforcement agencies.

SB 41

Relating to the consolidation and distribution of State civil justice costs; the increase in certain civil justice costs; authorization fees.

SB 43

respecting residential mortgage lending, including the financing of residential real estate purchases by way of a global mortgage loan; provide licensing and registration requirements; authorizing an administrative penalty.

SB 794

Relating to eligibility for exemption from ad valorem taxation of residential property of a totally disabled veteran.

SB 855

Relating to the electronic dissemination of commercial recordings or audiovisual works.

SB 911

Related to the regulation of restaurants and third party food delivery services, including the issuance of certain alcoholic beverage certificates to restaurants.

SB 1280

Concerning certain provisions of the Securities Act for which a person offering or selling a security may be held liable to a person who purchases the security.

SB 1449

Relating to the exemption from ad valorem taxation of income-producing tangible movable property of a value below a certain amount.

SB 1524

Relating to a pilot sales and use tax rebate program for certain people who employ apprentices.

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Real estate trends to watch in 2022 | Home & Garden https://rrreading.com/real-estate-trends-to-watch-in-2022-home-garden/ Sat, 01 Jan 2022 19:30:00 +0000 https://rrreading.com/real-estate-trends-to-watch-in-2022-home-garden/

To say that the real estate market has changed and evolved over the past year would be an understatement. In the past 365 days, home prices have skyrocketed. Homeowners’ home values ​​have been climbing higher and higher. Competition for housing has been extremely tough. Investors are taking over properties in all markets, large and small. Buyers who would normally be able to secure homes are valued left and right.

As 2021 draws to a close, the surge in home purchases fueled by the pandemic continues. Homes are still selling well above asking prices in most markets, despite the historically slow real estate season. Buyers are still struggling to find homes in most markets. Cash buying dominates. Most markets still face extremely low levels of housing inventories. And, home values ​​are still skyrocketing for those lucky homeowners who have successfully secured their properties.

With so many unusual trends in the housing market, it begs the question of what will happen with real estate in 2022. Will the markets continue to be on fire? Will the pandemic continue to fuel low interest rates? Perhaps more importantly, what can you expect from the dominant real estate trends over the next year and why?

To help answer these burning real estate questions, the rental platform with option to buy ZeroDown has compiled a list of 10 real estate trends to watch in 2022, using information from real estate agents, forecasting models, brokers and other real estate experts. Here’s what that information showed about the real estate trends for the next year.

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MetroWest and Greater Milford housing market to remain challenging in 2022 https://rrreading.com/metrowest-and-greater-milford-housing-market-to-remain-challenging-in-2022/ Fri, 31 Dec 2021 04:34:33 +0000 https://rrreading.com/metrowest-and-greater-milford-housing-market-to-remain-challenging-in-2022/

While exorbitant prices and ruthless bidding wars kept thousands of potential buyers from landing a new home last year, experts say they may have a better chance in 2022.

But it is a big one maybe.

What has been a seller’s market will seep into 2022, as affordability will remain difficult with interest rates and prices continuing to rise, according to Realtor.com housing forecast for 2022. Despite this, the real estate listings website predicts strong growth in home sales over the coming year.

In several communities, sales were very strong in 2021. Until November 30, sales of single-family homes had increased by 14.9% in Framingham (from 545 in 2020 to 626 in 2021), from 20.6% in Marlborough (248-299) and 22.9% (271-333) in Franklin, according to The Warren Group, a Peabody-based real estate and banking data provider.

According to a survey of more than 20 U.S. economics and housing experts, Americans can expect house prices to appreciate slower, inflation to drop but interest rates to rise. 2022, said Lawrence Yun, chief economist and senior vice president of research for the National Association of Realtors.

Locally, the median price of a single-family home sold in Framingham in the first 11 months of 2021 was $ 563,250, up 14.9% from the median of $ 490,000 a year earlier, according to The Warren Group. Natick’s median sale price through November 30 was $ 736,500 (up 5.1%), Marlborough’s $ 480,000 (up 9.1%), Milford’s was $ 440,000. $ (up 10%) and Franklin’s of $ 589,900 (up 16.8%).