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9.15.09
CALL FOR ACTION:
We have all seen first-hand the positive impact the first-time homebuyer tax credit is having on the real estate market recovery. As the expiration date for this successful program looms, we ALL need to make sure that Congress hears from us about the positive impact this program has had and ask them to extend it, and expand it, so that we can continue to see our markets fully recover.
Please watch this video Call for Action of your fellow REALTORS, along with President Charles McMillan explaining how the credit is helping and urging both you and Congress to take action NOW.
Sending a letter to your member of Congress is a simple as three clicks of your mouse. Don’t delay. Take action now!
9.4.09
RELRA Amendments Become Law
For the past several years, we have been working to amend the Real Estate Licensing and Registration Act (RELRA) in two key areas. In early July we helped to pass what is now Act 14 of 2009, which takes effect on September 4, 2009.
The first change allows licensees to be paid through "qualified associations" that are established by one or more licensees affiliated with the same broker. Up until this change, the law required that brokers pay licensees directly and not through any sort of a corporate entity. Now, brokers can pay to (and licensees can be paid as) certain entities as laid out in the law.
The second change clarifies a number of issues relating to escrow requirements. The biggest change to the escrow rules now permits brokers to release escrow where there is a dispute between the parties if the parties agreed in advance how the money should be distributed in the event of an unresolved dispute.
>Escrow FAQ
>Qualified Association FAQ
8.21.09
Allentown Code Changes enacted
After months of discussion, Allentown City Council adopted sweeping changes to their property rehabilitation and maintenance code on August 19.
LVAR was involved with numerous negotiations with the City to discuss our concerns. The final legislation was a bittersweet success for LVAR in that City Council agreed to about 95% of our recommended changes as outlined in our policy statement adopted by the LVAR Board of Directors last month. However, agreement could not be reached on the fee increase/structure for the rental licensing program. The City increased the rental licensing fee from $21 to $30 and removed a discount incentive for those rental units that remain in compliance.
LVAR expressed our opposition to these changes, but was hard pressed to argue against the fee, which remains the lowest in the Lehigh Valley and still does not raise enough revenue to make the inspection program self sustaining. |