Wondering about the detais behind the 2009 "Stimulus" Law and what affects the real estate market in Central Pennsylvania? Here's a summary of the details:
BACKGROUND
The American Recovery and Reinvestment Act of 2009 (H.R. 1) was approved and signed into law on February 17, 2009. The Act is a $780 billion package.
Many elements of the National Association of Realtors® legislative housing agenda were incorporated into the Act. The President and congressional leaders have indicated that housing issues will be further addressed in upcoming legislation.
DETAILS
Homebuyer Tax Credit – The Act provides an $8,000 tax credit available to Lancaster County first-time homebuyers for the purchase of a principal residence between January 1, 2009 and December 1, 2009. This credit does not need to be repaid and may be claimed on a consumers 2008 or 2009 tax return. If any credit amount remains unused, then the unused amount is refunded as a check to the purchaser.
FHA, Fannie Mae and Freddie Mac Loan Limits – The Act reinstates the 2008 loan limits for FHA, Fannie Mae and Freddie Mac. These limits were equal to the greater of 125 percent of the 2008 local area median home price or $271,050 for FHA and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750. In 2008, the median sale price for homes in Lancaster County was $173,000.
Neighborhood Stabilization – The Act provides $2 billion in funding for the Neighborhood Stabilization Program, which funnels grants to local and state governments to assist neighborhoods facing a large number of foreclosures. The funds may be used to purchase, manage, repair and resell foreclosed and abandoned properties. After purchase, the homes must be used to assist individuals and families with incomes at or below 120 percent of the area’s median income. 25 percent of funds must be used for households with incomes at or below 50 percent of area median income.
Commercial Real Estate – The Act provides funding for state energy programs used to support commercial property owners’ investments in energy efficiency upgrades. Commercial property owners seeking to invest in alternate energy systems for onsite power generation will benefit from the U.S. Department of Energy Renewable Energy Loan Guarantees Program. Small businesses receive tax relief in the area of bonus depreciation and capital expenditures as well as the five-year carry back of net operating losses.
Rural Housing Service – The Act provides $500 million to existing USDA rural housing programs. The RHS maintains a guaranteed loan program and a direct housing loan program for those meeting the eligibility criteria. $270 million is allocated to the direct loan program and $230 million is allocated for unsubsidized guaranteed loans. This level of funding will provide for 192,000 additional homeowners.
Low Income Housing Grants – The Act allows states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance the construction or acquisition and rehabilitation of low-income housing.
Energy Efficient Housing Tax Credits and Grants – The Act provides $6 billion in energy efficiency and conservation grants to local and state governments. Through 2010 homeowners will be able to claim a 30 percent tax credit for purchases of new furnaces, windows and insulation. The Act provides an additional $5 billion to modernize America’s electricity grid and install smart meters on homes that help save consumers money. The Act also provides $5 billion for weatherization assistance for low-income households and $2 billion for federally assisted housing (Section 8) efficiency programs.
Transportation Investments – The Act provides $46.7 billion to local and state governments for surface transportation projects such as highways, bridges, transit and rail. The Lancaster County Planning Commission estimates $34 million in funding for bridges and highways and $21 million for transit programs will be directed to projects in Lancaster County. LCAR supports increased spending on transportation infrastructure as a means of promoting smart growth, lessening traffic congestion and improving the quality of life, and thus the value of real estate, in Lancaster County.
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Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Harrisburg PA Real Estate, Lebanon PA real estate markets with local offices and agents.
See Coldwell Banker's New Home Communities Throughout Central PA!
Interested in Moving to Central PA? Let Coldwell Banker be your perfect partner.
Corporate relocation? Coldwell Banker is a Principal Central PA broker for Cartus Relocation
Coldwell Banker Select Professionals - We're Always Moving!
Visit www.cbSelectPros.com or Call 800-223-9690 today to get started.
Lancaster City PA real estate market is one of the thriving real estate markets in Central PA. With the support of private organizations such as FIG Lancaster and advocacies such as Lancaster City Living, Lancaster city has taken on an emerging role as an east-coast urban destination for artists, entrepreneurs and those looking for a community lifestyle with old-world charm. There is a vibrant "Lancaster Arts" movement that promotes monthly events such as the popular "Lancaster First Fridays" art expo. Other groups such as the Lancaster Downtowners focus on the "walkability" of Lancaster City. In 2009 the Lancaster Convention Center will open its doors to the public and host events of all sizes, bringing new pedestrian traffic to downtown Lancaster and encouraging even more businesses.
"Lancaster City PA Realtors help homebuyers and home sellers achieve their goals with professionalism."
Lancaster City PA homes are often more spacious than their suburban counterparts for the money, and boast true masonry construction - a rarity in tract home developments today. Prices for typical Lancaster City homes for sale range between $80,000 and $150,000, which is substantially below the county average and makes Lancaster City living affordable for first-time buyers. Several large employers in the city offer housing programs and financial assistance, and local organizations such as Lancaster Housing Opportunity Partnership (LHOP) do the same for the general public.
If you're looking for a city living experience, Lancaster is a great option to explore. For more home information contact realtors serving Lancaster City and arrange a personal tour of Lancaster City homes for sale.
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Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Harrisburg PA Real Estate, Lebanon PA real estate markets with local offices and agents.
See Coldwell Banker's New Home Communities Throughout Central PA!
Interested in Moving to Central PA? Let Coldwell Banker be your perfect partner.
Corporate relocation? Coldwell Banker is a Principal Central PA broker for Cartus Relocation
Coldwell Banker Select Professionals - We're Always Moving!
Visit www.cbSelectPros.com or Call 800-223-9690 today to get started.
Lebanon County is a county located in the U.S. state of Pennsylvania. Though the first settlers were located there in 1723, it was officially created in 1813 from parts of Dauphin County and Lancaster County. Just like the surrounding counties, Lebanon County Pennsylvania has had a large influence from the Pennsylvania Dutch, which is easily seen in the acres upon acres of beautiful landscaping and farms. Lebanon County is also known for its outstanding abundance of dairy and pork products, the most popular of which is their Lebanon Bologna.
As of 2000, the populationof Lebanon County was 120,327, with a 2004 estimate of 124,489. Its county seat is Lebanon City. Lebanon County is located in south central Pennsylvania approximately 25 miles east of the state capital of Harrisburg, Pennsylvania.
If you're interested in learning all about the towns, school districts and areas of Lebanon County visit http://www.lebanonpasrealestate.com today.
Here's an article on Lebanon County PA Borough Websites.
Here's the latest report on Lebanon County PA home prices and home sales.
Parks in Lebanon County PA, Recreation
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Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Harrisburg PA Real Estate, Lebanon PA real estate markets with local offices and agents.
See Coldwell Banker's New Home Communities Throughout Central PA!
Interested in Moving to Central PA? Let Coldwell Banker be your perfect partner.
Corporate relocation? Coldwell Banker is a Principal Central PA broker for Cartus Relocation
Coldwell Banker Select Professionals - We're Always Moving!
Visit www.cbSelectPros.com or Call 800-223-9690 today to get started.
If you're interested in parks and recreation in Lebanon County, Pennsylvania then I've got a list of some local opportunities for you to check out.
Lebanon PA is a beautiful area located east of the Susquehanna River and Harrisburg, almost midway between Harrisburg, Reading and Lancaster PA. Historic downtown Lebanon has many gorgeous homes and other architecturally interesting buildings. An outdoorsman will fill many things to do in Lebanon County PA as well, with parks, walking trails and the wonderful Mount Gretna PA area including Governor Dick, a popular hiking, biking and walking destination.
Here's a snapshot of some key Lebanon PA recreational locations:
| Union Canal Canoe Rental & Cricket Hollow Golf Course 717-838-9580 1929 Blacks Bridge Rd., Annville 17003 |
Lions Park & Pool 717-865-2501 Lions Drive, Fredericksburg 17026 |
| Willow Springs Park 717-866-5801 199 Millardsville Rd., Richland 17087 |
Stoever's Dam Park 717-273-6711 946 Miller Street, Lebanon City 17042 |
| Quittie Creek Nature Park 717-272-7167 Bachman Road, Annville 17003 |
Limestone Springs Fishing Preserve 717-866-2461 930 Tulpehocken Road, Richland 17087 |
| YMCA Skatepark 717-273-2691 100 N 8th Street, Lebanon City 17042 |
Union Canal Tunnel Park 717-272-1473 Union Canal Dr & 25th Street, Lebanon 17042 |
| Lebanon Valley Bicycle Club 717-832-0105 121 Lawn Road Palmyra, PA 17078, Palmyra 17078 |
Clarence Schock Park at Governor Dick 717-222-1617 Pinch Road, Mt Gretna 17064 |
| Myerstown Community Park 717-222-1616 College & Railroad Street, Myerstown 17067 |
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Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Harrisburg PA Real Estate, Lebanon PA real estate markets with local offices and agents.
See Coldwell Banker's New Home Communities Throughout Central PA!
Interested in Moving to Central PA? Let Coldwell Banker be your perfect partner.
Corporate relocation? Coldwell Banker is a Principal Central PA broker for Cartus Relocation
Coldwell Banker Select Professionals - We're Always Moving!
Visit www.cbSelectPros.com or Call 800-223-9690 today to get started.
After making the decision to buy a home in the Harrisburg PA area, many buyers are surprised by the amount of work required for a successful closing. To ensure that you are prepared to close on the home, you may want to develop a checklist of necessary steps with your Coldwell Banker real estate agent. As you prepare to complete the sale and move into your new home, consider the tips offered here concerning the most important tasks facing homebuyers.
After you have filed your loan application and placed a deposit on the home, your mortgage lender will provide you with an estimate of closing costs. As the amount provided by the mortgage lender is merely an estimate and can change prior to closing, you are allowed to inspect all the loan documents the day before closing. Once you have confirmed the amount, including the remainder of the down payment, you will need to obtain a certified or cashier's check. In most cases, personal checks are not acceptable for payment of closing costs, so work with your Coldwell Banker Harrisburg PA agent if you have concerns about the proper methods of payment.
Most Harrisburg PA real estate professionals recommend performing a final walk-through inspection of the home before finalizing the sale. In most cases, the contract between both parties will include a clause allowing the buyer to inspect the property within the 24 hours prior to closing. At this time, the buyer should make sure the home is vacated, all appliances that the seller agreed to leave in the home are intact and any repairs included in the terms of the sale have been completed. If needed, you can also request that the seller perform a walkthrough with you to explain all of the home's details.
For the most part, this final walkthrough is the buyer's last opportunity to ensure the terms of the contract are met. If any problems are uncovered during the inspection, you can work with your Coldwell Banker agent to obtain funds from the seller for repairs or postpone the closing until all repairs are made.
Another requirement of the closing process is the purchase of homeowner's insurance. Required by nearly all mortgage lenders, this insurance protects both homeowner and lender against loss in case of damage to the home. Most homeowner's insurance policies will include personal liability for the buyer – protecting the homeowner in the event of accident or injury on the property – and a combination of coverage against theft, fire, flood and region-specific weather concerns. By working with your real estate agent and mortgage lender, you should be able to find an acceptable policy that meets the requirements of the loan. At the time of closing, you will need to provide proof of insurance to the mortgage lender before finalizing the sale.
In some cases, title insurance may also be required by your mortgage lender. This simple policy protects both the buyer and lender in the event that problems with the title are uncovered after the sale is finalized. If required, both the lender and homeowner need individual title insurance policies, yet these are usually combined into a joint policy to be financed by the buyer.
Prior to the closing date, the buyer should also transfer all utility accounts from the seller. Besides being a required part of many closing proceedings, this small step will ensure that your new home is ready for move-in after the sale is completed.
On closing day, you can expect to sit down with the seller, your Coldwell Banker Harrisburg PA agent, your Home National Mortgage lender and the legal representation required to finalize the sale. If you have completed the steps outlined here and arrive with proper documentation, you can expect a smooth closing. In fact, if you follow your checklist prior to closing day, you can begin focusing on life in your new home as soon as you like.
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Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Harrisburg PA Real Estate, Lebanon PA real estate markets with local offices and agents.
See Coldwell Banker's New Home Communities Throughout Central PA!
Interested in Moving to Central PA? Let Coldwell Banker be your perfect partner.
Corporate relocation? Coldwell Banker is a Principal Central PA broker for Cartus Relocation
Coldwell Banker Select Professionals - We're Always Moving!
Visit www.cbSelectPros.com or Call 800-223-9690 today to get started.
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Serving Lancaster, Dauphin, Lebanon, York and Cumberland County homes for sale, real estate and related services such as PA mortgages. Choose Coldwell Banker for all your Central PA real estate needs
Searching for real estate in Central PA? Coldwell Banker® Select Professionals can help you find the home of your dreams, sell your property and get started with your mortgage. Serving Lancaster, Lebanon, York, Cumberland and Dauphin Counties, our expert team of real estate agents puts you, the customer, first every day. Trust the #1 Real Estate Brand - Coldwell Banker®, and work with a Pennsylvania real estate leader.
Buying a home can be an exhilarating yet stressful time. Qualifying for a mortgage, searching for a home online, touring open houses, deciding on a number of location and condition-related issues can overwhelm even the most diligent Central PA homebuyers. That's where Coldwell Banker® Pennsylvania comes in... 
When you're in the early stages of the home buying process, you may want to remain anonymous and watch the market from the comfort of your desk - no problem! With Our Home Retriever , you can track new listings of homes in your preferred neighborhoods and even download a Personal Retriever® Widget (a small piece of software that interfaces with the MLS to alert you when new listings come on the market). 
Once you're ready to ask questions and start viewing homes in person, it's time to contact a Coldwell Banker® Select Professional. Working with a professional buyer representative has it's advantages. The buyer agent will diligently search the MLS with a seasoned eye for you - setting up showings to be sure you get an early look at desirable homes. The buyer agent will advise you on condition and marketability issues of a potential home, offer assistance with the mortgage process, explain the title work required in Pennsylvania and help with arranging relevant inspections.
We're so confident that you'll have the best possible homebuyer experience that we offer a guarantee - the Coldwell Banker® Buyer Services Guarantee. Take a moment to read this simple promise...dedicated effort, honesty, loyalty, confidentiality and much more!
Selling your Central PA home can be one of the biggest decisions you can make in life - one not taken lightly. In this turbulent real estate market, choosing the right real estate company will likely be the most important choices.
The difference is marketing - who will market your home in new and innovative ways, making full use of the power of the internet as a source of home buyers? The electronic age is here - and your house absolutely must shine online.
We at Coldwell Banker® Select Professionals take great pride in our ability to get your house sold. We leverage the immense power of Coldwell Banker - the brand ranked #1 by consumers in terms of a company you can trust and in terms of dependability. Coldwell Banker® also earned top honors from the industry in innovation in home marketing this year. One thing's certain, when you choose Coldwell Banker® Select Professionals to sell your Lancaster PA home, Hershey home for sale, York PA real estate or Lebanon PA home, you get the very best the industry has to offer.
A great sales program is only the beginning. As a home seller you will also enjoy the comfort of knowing that every customer inquiring about your home will be promptly contacted and followed-up on, thanks to our highly efficient LeadRouter® call systems, which make an agent available all the time to handle property inquiries. In addition, our support staff and call center staff are courteous, knowledgable and on duty every day, for long hours to make sure your home is getting the attention it deserves.
With support like this from the national down to the local level, is it any wonder that your local Coldwell Banker® agent is so confident? Well, even better, we're so confident that you'll get unbeatable service that we offer our unique Seller Services Guarantee®. Take a look at this simple yet effective document here. If you're not satisfied, we'll make it right.
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