9.29.08   Updates on Federal Government Actions In Response to the Credit Crisis The National Association of REALTORS® (NAR) is closely monitoring the Federal Government response to the continuing credit crisis. Our Washington D.C. Policy staff is working with regulatory agencies and elected officials on Capitol Hill to assure a robust secondary mortgage market. Liquidity in the mortgage market is essential to the health of the economy. Read more here: Rescue Bill Summary - What is at Stake for REALTORS® Credit Crisis webpage on REALTOR.org 9.9.08   LVAR TO SUPPORT GARY DAY FOR 187th LEGISLATIVE DISTRICT       On May 20, the LVAR Political Action Committee (LVAR-PAC) comprised of your fellow REALTORS®, conducted candidate interviews for the 187th Legislative District (Lehigh / Berks). This is an open seat race as Representative Carl Mantz (R), who currently holds the seat, has decided after only one term that he will not seek re-election. The two candidates vying for the position are Gary Day (R) and John Ritter (D). The LVAR-PAC members extended an invitation to both candidates to participate in our candidate interviews. John Ritter did not respond to our requests after multiple attempts to contact him. However, the CSC did interview Gary Day. After closely evaluating Mr. Day’s responses to an initial questionnaire, along with a personal interview, the LVAR-PAC voted to support his candidacy for the seat.* The LVAR-PAC’s recommendation was subsequently affirmed by both the LVAR Board of Directors and the Pennsylvania Association of REALTOR® (PAR) RPAC Trustees. Mr. Day was chosen for support for a number of reasons, including his favorable position on REALTOR® issues, campaign organization and strategy. Mr. Day’s sincere desire to learn more about the REALTOR® profession and our policy issues, combined with his eagerness to improve the overall quality of life within his district positioned him as the leading candidate. Mr. Day shares many of the same values and ideals as our Association. He wants to encourage homeownership in his district and support policies which preserve the rights of private property owners. LVAR is proud to stand behind Gary Day and help him to victory on November 4. LVAR is encouraging our members to volunteer on his campaign, especially on Election Day to assist with Get Out the Vote efforts. You can contact the campaign, and learn more about Day by visiting http://www.garydayforpa.com/. *Although Mr. Ritter did not respond to LVAR’s questionnaire or participate in the candidate interview, information was obtained from his website for consideration by the LVAR-PAC members.     9.4.08   CONGRESSMAN CHARLIE DENT MEETS WITH  LVAR GOVERNMENT AFFAIRS COMMITTEE       Shown above (from left to right): Steve Yost, Dent Federal Political Coordinator; Luis Campos, LVAR Government Affairs Committee Chair; Sue Seidel, LVAR President-Elect; Congressman Charlie Dent; Mark Molchany, LVAR President   The LVAR Government Affairs Committee (GAC) continues to maintain strong relationships with elected officials across the Lehigh Valley. This month’s GAC Roundtable Series featured Lehigh Valley Congressman Charlie Dent (R, PA-15). Congressman Dent had an in-depth discussion with the GAC regarding his position on the Housing and Economic Recovery Act recently signed into law. Congressman Dent, an avid supporter of real estate issues, explained that he reluctantly voted against the Housing bill because of his concern with providing Fannie Mae and Freddie Mac with an open line of credit from the federal government. Dent explained that he would never want to see Fannie and Freddie fail, however substantially more reform needs to change to justify the line of credit. Dent indicated he supported other important provisions of the bill, including the homebuyer tax credit, increased conforming loan limits for FHA and the GSEs, as well as the affordable housing trust fund. Congressman Dent also shared his insight on the high gas prices and the need for America to diversify its energy resources. Dent explained that the fundamental issue is that global demand for oil is outpacing supply, and we need to start exploring alternative sources of energy.       The Roundtable Series serve as a forum for elected officials to share with our members’ first-hand information on ongoing economic development and revitalization projects, local politics, and other real estate related matters. The meetings also serve as an opportunity for REALTORS® to show elected officials that we are organized and interested in the being a part of the public policy making process.