The Real estate Horizon state with the new legislation recently passed by the Texas legislature marks a milestone in the ongoing effort by the Lone Star State to promote its real estate market. According to the Texas legislature, the passing of this legislation is expected to “help curb the rapid growth of foreclosures across the state”. The success of this legislation comes as a relief for the Texas homeowner who has found herself increasingly squeezed between interest payments on her home and her growing children. Real estate experts across Texas are also applauding the new legislation, which they say will help Texas retain the investment-returns that real estate generates – Read more
Texas Real Estate – A Variety of Homes To Choose From
In recent years, real estate prices in Texas have soared faster than the national average and many residents find themselves severely restricted when it comes to being able to obtain a mortgage loan to purchase a new home. Many communities in Texas have seen a dramatic increase in foreclosures over the last two to three years and the problem seems to be picking up steam even faster recently. According to the Texas legislature, the Real estate Horizon Act which was recently passed by the state legislature will help curb this rapid housing cost inflation across the state. The Real estate Horizon Act was passed in response to a number of complaints from homebuyers across Texas concerning the high costs of buying a new home in Texas.
For example, one realtor explained that the property tax rate in Texas right now is higher than almost any other state in the U.S. right now, and that the homes that are being built today do not meet the minimum requirements needed by the current real estate market. Another issue that homebuyers are encountering is that they can no longer obtain a mortgage loan from traditional lenders or banks because they have run up their credit limits and can no longer qualify. According to the Texas legislature, the Real estate Horizon Act will help to address these issues and prevent further property loss. This legislation is expected to take effect immediately and is required to go into effect immediately.