All Posts Tagged With: "lehigh valley real estate"
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
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
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
Lehigh Valley Short Sales and Pre-Foreclosures
So what exactly is a shot sale anyway? A short sale is when a home is in pre-foreclosure and the bank allows the owner to list the home with a Realtor and try to sell the home and avoid foreclosure. In most cases it is being sold for less than what is owed to the bank. The [...]
9Jun2008 | admin | 0 comments | Continued
Lehigh Valley Real Estate Statistics
Lehigh Valley Real Estate Statistics: The statistics presented in Market Update are compiled each month based on the figures generated from the Lehigh Valley Association of REALTORS® Multiple Listing Service. Average sales prices and median prices fluctuate monthly depending upon the number of sales at the high or low end of the price range. The [...]
9Jun2008 | admin | 0 comments | Continued
Lehigh Valley Home Sales May 2008
Number of Sales: During May 2008, 517 home sales were reported in the Lehigh Valley, down 22% from May 2007 at 663.
Average Sales Price: The average sales price for May 2008 was recorded at $217,000, which is up approximatly 9% from May 2007 when the average sales price was recorded at $215,000. The average sales price [...]
Can I Get A Good Deal in The Lehigh Valley?
Prices are definitely coming down, that’s a good thing. But, its not a fire sale. Two and three years ago when the market was hot, homes were over priced and selling for more than they were worth in some cases. What’s happening now is that home prices are coming back into line of where they [...]
27May2008 | admin | 0 comments | Continued
UPDATE:
YES, you can use Part of the $8,000 Tax Credit to buy your new home. Very few banks are doing ...