All Posts Tagged With: "Lehigh Valley Association Of Realtors"

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Another transfer tax revenue loss for Allentown

Allentown Mayor Ed Pawlowski froze all nonessential spending this week to help plug a projected $1.9 million hole in the city’s budget. The city is on pace to see $1.5 million less than projected revenues from real estate transfer fees. The slowing housing market is affecting transfer tax revenue in all municipalities in the Lehigh [...]

8Sep2008 | GoValley | 0 comments | Continued
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Lehigh Valley Market Update July 2008

Comparison of Activity from June 2008 to July 2008
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List Price to Sold Price Ratio:
The average sale price compared to list price for residential properties sold  in the Lehigh Valley during the month of July 2008 is 97%, which remained the same since April 2008.
New Construction:
For newly constructed homes with 4 bedrooms and [...]

15Aug2008 | GoValley | 0 comments | Continued
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Real Estate transfer tax revenue down

In a recent Morning Call letter to the editor, LVAR (Lehigh Valley Association of Realtors) expressed  frustration with government officials continued reliance on the real estate transfer tax (PA recieve 2% on every Lehigh Valley Real Estate Transaction, buyer and seller each pay 1%).  Municipalities that were once booming with residential development are seeing the effects [...]

20Jul2008 | admin | 0 comments | Continued
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U.S. Senate Passes Housing Stimulus Bill

The U.S. Senate passed a bipartisan mortgage rescue bill last Friday that allows the Federal Housing Administration to refinance troubled mortgages – even those that are under water – as long as banks agree to take a loss. The program would allow the FHA to help as many as 400,000 home owners. Now the bill [...]

20Jul2008 | admin | 0 comments | Continued
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Rendell vetoes spot assessments bills

The victory for REALTOR® and real estate consumers was short lived as Governor Ed Rendell vetoed legislation aimed at protecting consumers from spot reassessments.  Despite the overwhelming bipartisan support in both houses of the legislature.  LVAR (Lehigh Valley Association of Realtors) issued a press release expressing our disappointment with the Governor’s decision.  LVAR will continue [...]

20Jul2008 | admin | 0 comments | Continued