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REALTORS® Sounding Alarm Bells as NFIP Set to Expire in Less Than 6 Months

2017-05-05T20:26:38+00:00

On September 30, just six months from today, the National Flood Insurance Program will expire. The National Association of Realtors® is working closely with federal regulators and members of Congress to strengthen the program and clear the way for a private market to take hold; NAR has also issued a series of principles to improve [...]

New Massachusetts agency disclosure form to be used

2017-05-05T20:26:38+00:00

All Realtors® should be aware that the Board of Registration for Real Estate Brokers and Salespersons has issued a NEW Mandatory Agency Disclosure Form. The form’s official title is the Massachusetts Mandatory Real Estate Licensee – Consumer Relationship Disclosure. The form is designed to provide the same kinds of disclosures to consumers while clarifying and [...]

REALTORS® Push HUD to Move Forward With FHA MIP Rate Cut

2017-05-05T20:26:39+00:00

The U.S. Department of Housing and Urban Development announced Jan. 20 that it was suspending indefinitely the FHA premium rate cut that had been expected to take effect on Jan. 27. HUD had announced the reduction Jan. 9, saying continuing strength in FHA’s reserve fund (the Mutual Mortgage Insurance Fund) warranted the move. NAR estimated [...]

Exodus may not be the Cape’s problem

2017-05-05T20:26:39+00:00

By Mahesh Ramachandran It’s an oft-told tale: Young people are fleeing Cape Cod, resulting in a declining population for the foreseeable future and signaling a contraction of our workforce. But what if that’s not the case? We dove into the numbers, counting methods and economic data and reached conclusions that challenge, if not dispel, the [...]

Falmouth owes property owner $1 million in takings case

2017-05-05T20:26:39+00:00

What happens when a town institutes wetland “no disturbance” zones that prevent a landowner from building on her lot? In a recent case in Falmouth, MA, it resulted in the town owing the landowner nearly $1 million for denying her the economic value of the land. The use of zoning bylaws by towns to regulate [...]

Pot legalization to impact landlord-tenant relations, disclosures

2017-05-05T20:26:39+00:00

On November 8th 2016 Ballot Question #4, which will allow for the recreational use of marijuana, was passed by Massachusetts voters in a fairly wide margin of 54% to 46%. Under the new law, the use of marijuana for recreational purposes will be legal starting on December 15, 2016. However, the sale of the drug [...]

REALTORS outline priorities for next Massachusetts legislative session

2017-05-05T20:26:39+00:00

As the year comes to a close, the MAR Government Affairs Committee and staff are working hard to prepare for the 2017-2018 Legislative Session. Each session, thousands of bills are proposed, many of which affect property owners and the real estate industry. MAR will continue to advocate to promote a legislative agenda that seeks to protect private property rights and the businesses [...]

New smoke detector regulations start December 1st

2017-05-05T20:26:39+00:00

New regulations going into effect December 1st will affect what you have to do to pass a pre-transfer inspection. When replacing a battery when the battery is either expired or non-working of a single or multi-family home built prior to 1975 that battery must be a 10-year sealed battery. Fire departments will be checking for [...]

CFPB Makes Clear Lenders’ Ability to Share CD

2017-05-05T20:26:44+00:00

Earlier this year, the Consumer Finance Protection Bureau announced that it was considering changes to Know Before You Owe - also known as the TILA-RESPA Integrated Disclosure, or TRID - including a clarification of the rules regarding sharing the CD. The CFPB made good on that promise when it announced a proposed rule on TRID, [...]

Room Occupancy Tax defeated in Conference Committee

2017-05-05T20:26:44+00:00

UPDATE: The room occupancy tax provision was defeated in Conference Committee and was not included in the Economic Development bill that passed the legislature. A version of the room occupancy tax bill passed the Massachusetts Senate and currently is in a conference committee. Much like the mandatory energy audit and scoring proposals that were included [...]