Advice for Consumers
Where the deer and the antelope play
Have you ever thought about buying some land? I’m not talking about a half acre to build a home on. I mean something like 40 acres—or 140 acres—where you can have a little ranch or a hunting property or maybe some kind of commercial enterprise.
Lots of Texans do exactly that. In fact it is becoming more popular. In 2015, there were more than 6,000 purchases of small tracts of land in the state. That’s a 19% increase from 2014.
You can learn more about small-land sales from this infographic.
And when you're ready to explore buying your own small tract of Texas land, find a REALTOR® who can help.
Help resolve the D.C. gridlock right now
In Lehman's Terms
Remember "I'm Just a Bill" from the Schoolhouse Rock series in the 1970s?
The cartoon taught viewers—ideally kids, but probably some adults, too—how a bill is made into law in Washington, D.C. If you saw this animated classic, you’ll recall that to become a law, a bill has to be passed in both chambers of Congress, the House of Representatives and the Senate, and then get the president’s signature.
But sometimes a bill gets bogged down in one chamber and doesn’t see the light of day for a while. Like right now.
A bill known as HR 3700, the Housing Opportunity Through Modernization Act, unanimously passed the House in February but has stalled in the Senate. This surprises me because the bill is a common-sense measure that makes much-needed reforms to programs that will increase affordable homeownership options.
Here’s some of what this bill does:
- Changes the lending rules for people who want to use Federal Housing Administration funding to purchase condos, which are an affordable option for first-time homebuyers
- Speeds up the process for rural housing loans, saving time and reducing the burden on federal agencies
- Reforms the U.S. Department of Housing and Urban Development’s rental assistance programs to expand housing access to low-income families.
In Lehman’s terms, this bill will help more people become homeowners.
The National Association of REALTORS® has issued a call for action encouraging its 1 million members to ask their senators to bring up the bill. These elected officials need to hear from the public, too. Use these links to contact Sen. John Cornyn and Sen. Ted Cruz right now.
Send a note encouraging them to move this important bill along so it can become a law that benefits homebuyers, taxpayers, and the real estate market.
Mark Lehman is vice president of Governmental Affairs for the Texas Association of REALTORS®.
What is a Texas REALTOR®?
Not all real estate agents are REALTORS®.
Only those who agree to abide by a code of ethics that goes beyond what the law requires may join the Texas Association of REALTORS®.
Read the REALTOR® Code of Ethics
Texas REALTORS® do more than help you buy and sell real estate
They protect the rights of property owners. They fight proposals that would increase the burdens on buying, selling, and owning real estate. And they bring property-owners’ concerns to the Legislature, regulatory agencies, and local authorities.
Learn more about how Texas REALTORS® can help you