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Looking for quiet, stress-free living? Welcome to Penns Farms. This townhome community currently has 7 homes on the market for sale. Current list prices range from 145k to 180k depending on the size and upgrades you are looking for.

Penns Farms has a $212 a month which includes all exterior maintenace wiith a public pool and tennis courts.

Click on the link below for pictures and more info on this community.

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Here’s a list of the new Townhome listings in the Lehigh Valley.

Check back here every week for the newest Townhome listings.

Click this link for the info.

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Look! A 3 Bedroom, 2.5 Bath End Unit Townhome has new windows and siding! Plenty of room for the family & guests. Enter the home via the Living Room which is highlighted by Hardwood Floors. The spacious Kitchen is perfect for the family chef and flows effortlessly into the Dining Area. Upstairs you will enjoy 3 nice sized bedrooms. The master is spacious and private with its own full bath. Partially Finished Basement, fenced yard, convenient to all major routes, shopping & entertainment.

MLS Description

Lovely end unit Belmont Model for sale at an amazing low price! Numerous upgrades, including hardwood floors throughout the first floor, upgraded kitchen cabinets, breathtaking 2-story Family Room with fireplace, walkout basement, 8 x 10 Trex deck, recessed lights, and more! The Belmont model offers an open floorplan. Kitchen with center island w/ sink and added cabinetry, crown moulding on abundant variable height cabinets. Cheerful FR and bright and airy LR/DR areas. Second floor laundry. Large Owner’s walk-in closet and secondary closet. Tiled shower w/ 2 vanities in Owner’s bath. Don’t miss out on this great opportunity to own a gorgeous DeLuca Home at an unbeatable price!

Traditions is a 55 and over active adult community and not an assisted living facility as I was told by a very helpful and knowledgeable sales associate named Chris Hertzog.

Chris also mentioned that a lot of the residents there still work full time so dont be fooled in thinking this is a “retirement” community.

First thing I noticed as I pulled up was how huge, yet quiet this development is.  As I first turned in there is a quite a bit of construction still going on, which tells me that there are builders still building in the Lehigh Valley.

Past that there is quite a few completely built homes ranging from single homes to as Traditions calls them “Garden” homes. 

6 different Garden home models and 7 different single home models are currently available.

Currently at Traditions there is a monthly HOA of $160. Just some of the amenities/services you receive with that are snow removal, landscaping, trash removal and the amenities at a beautiful clubhouse on site. 

After my visit I would feel confident bringing the next client I have looking in the Lehigh Valley area  to make a move into a 55 and up community to Traditions of America Hanover.

The National Housing Market

December 15, 2009

Existing Home Sales – Up 24% from last year

• Existing home sales recorded another strong gain in October with many buyers rushing to beat the deadline for the first-time buyer tax credit scheduled to expire at the end of November. Sales surged 10.1 percent to 6.1 million units over September sales of 5.54 million and are 23.5 percent above the 4.94 million-unit level seen last year. Sales activity is at the highest level since February 2007 when it reached 6.55 million.

Median Home Price – Very favorable

• Low home prices are contributing to extremely favorable affordability conditions. Existing-home price was $173,100 in October, 5 percent higher from its low in January but still 7.1 percent below October 2008. Distressed properties, which accounted for 30 percent of all transactions in October, continue to hold down the median home price, as they typically sell for 15 to 20 percent less than traditional homes.

Inventory – Lowest level in more than 2.5 years

• “We are getting closer to a general balance between buyers and sellers,” according to Lawrence Yun, NAR chief economist. The supply of homes is now at the lowest level in more than two and a half years. Total housing inventory at the end of October fell 3.7 percent to 3.57 million existing homes available for sale, representing a seven-month supply at the current sales pace, down from September’s eight-month supply. Compared to a year ago, there are now 15 percent fewer homes on the market.

Mortgage Rates – Back at 4.78%

• Remaining at attractive levels for people looking to buy a home or refinance, historically low interest rates are boosting the market. Rates for 30-year fixed loans fell to 4.95 percent in October from 5.06 percent the month before. During the week ended November 25, rates again dropped to the low 4.78 percent reached in the spring. As the economy enters its recovery phase and concerns over inflation come back, mortgage rates are expected to go up.

Affordability – Best since 1970s

• Unprecedented interest rates, low home prices, as well as the first-time buyer tax credit are lifting the housing market. All these factors combined are “adding to the buying power of the typical family, with affordability conditions this year at the highest on record dating back to 1970,” according to Lawrence Yun, NAR chief economist. So far this year, the home price-to-income ratio has fallen well below the historical average of 25 percent. The ratio now stands at 15 percent.

Sources: National Association of Realtors, Freddie Mac

Topics For Buyers & Sellers

First Time & Distressed Property Home Buyers

What are other first time buyers doing?

The tax credit extension and expansion in November has fueled new discussion about home buyers and the housing market in 2010. Here’s a look at first-time buyers in 2009.

1. The median age is 28, significantly down from where it was in 2005 at 32.
2. Location or Neighborhood was the No. 1 “must-have” for 36% of buyers.
3. 2 out of 3 sellers paid at least part of the buyer’s closing costs.
4. 76% used their own savings for the down payment.  
5. 1 in 4 had help from their family for the down payment.

As elevated levels of distressed properties are expected to continue for the next few years, here is a glimpse of buying a distressed property:

1. 27% of foreclosures* were purchased by investors.
2. 47% of distressed* properties were purchased by first-time buyers.
3. 89% of those first time buyers that purchased a distressed property were motivated by the $8,000 tax credit.
4. 7 in 10 agents have seen an increase in multiple offers. 
5. Approximately 3 out of 5 agents discuss the differences between buying distressed and traditional properties at the buyer consultation.

          * Distressed – Short Sale and REO, Foreclosure – REO Only

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