Archive for August, 2008
Government Insured Loans Offer Credit and Down Payment Flexibility
Uncle Sam wants you…to own a home! It is true. There are several Federal and also some state government home loan programs. FHA and VA are the most widely known. Most of these home loan programs have not tightened their qualification standards despite the credit crunch that is changing the landscape entirely for conventional loans. [...]
27Aug2008 | dominion | 0 comments | Continued
Lehigh County tax rate to hold steady
Lehigh County residents can expect a stable tax rate for the third year in a row. County Executive Don Cunningham said Thursday the tax rate would remain at 10.25 mills, though the $405 million budget has increased by about $4.5 million over last year.
Source: The Morning Call, 8.22.08
Buyers flock to FHA, government-backed loans
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Borrowers are flocking to government-insured loans, particularly those offered by the Federal Housing Administration, as they seek to refinance out of costly adjustable-rate mortgages or take out purchase loans with low down payments. The Mortgage Bankers Association says applications for government-insured loans were up 133.9 percent in July from a year ago, [...]
22Aug2008 | GoValley | 0 comments | Continued
Forks Twp Speeds Up Crayola’s Solar Power Plant
Forks Township planners have decided to speed up the approval process for Crayola’s proposed solar power plant.
The Planning Commission on Thursday night agreed to rule on the plan in two weeks, rather than next month, after hearing a proposal that impressed commissioners and residents.
The crayon company hopes to turn roughly 15 acres of its property [...]
Palmer planners review luxury apartments
The builders behind a proposed development of 216 luxury apartments and 100 town houses said it will bring a “high class” of residents to the township. The Palmer township planning commission got its first glance Tuesday at Woodridge Falls III, proposed for 40 acres just south of Freemansburg Avenue and Dunkle Street.
16Aug2008 | GoValley | 0 comments | Continued
Mack Trucks moving Allentown HQ
On Thursday (Aug 14), Mack Trucks announced it was closing its Allentown headquarters facility and moving the entire 600-job operation to Greensboro, North Carolina. The move comes as a surprise to many, including Mack employees and elected officials. The company does, however, plan to invest $20-million in the Macungie manufacturing facility and add about 200 [...]
15Aug2008 | GoValley | 0 comments | Continued
Lehigh Valley Market Update July 2008
Comparison of Activity from June 2008 to July 2008
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List Price to Sold Price Ratio:
The average sale price compared to list price for residential properties sold in the Lehigh Valley during the month of July 2008 is 97%, which remained the same since April 2008.
New Construction:
For newly constructed homes with 4 bedrooms and [...]
Hellertown Passes Sidewalk Ordinance
Hellertown Borough has recently begun to aggressively enforce their Sidewalk Inspection Ordinance (Ordinance No. 683), which was adopted in 2005. The Ordinance requires that sellers contact the Borough so the Code Officer can inspect the sidewalk for compliance. According to the Ordinance, it is the responsibility of the current property owners (seller) to bring the [...]
15Aug2008 | GoValley | 0 comments | Continued
Tips for Higher Fico scores
More than ever, fico scores are important for mortgage loan approval and a factor in determining the interest rate on most conventional home loans. Here is the short list to maximize your fico score: #1 pay everything on time, this cannot be emphasized enough, #2 establish credit if you do not have a mix (mortgage, [...]
14Aug2008 | dominion | 0 comments | Continued
Bridge Loans Explained
Bridge loans, sometimes known as swing loans, are short term loans intended to access trapped home equity for the purchase of buying a new home. For example, if John and Mary Homebuyer have their current home for sale and will net $200,000 (equity) after paying their selling costs and current mortgage. That $200,000 will be [...]
6Aug2008 | dominion | 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 ...