Northampton County Executive John Stoffa on Monday announced his proposed 2009 $330 million budget, indicating the tax rate will remain at 10.8 mills. That means a resident with a property assessed at $50,000 will continue to pay $540 in county real estate tax. It would be the seventh time in 10 years that the tax rate has remained steady for county property owners.

Source: The Morning Call, 9.23.08

Pen Argyl wants to add 11 acres to its 15-acre Weona Park. The borough purchased the property from the Slate Belt Industrial Land Development Co. last Friday. Borough Manager Robin Zmoda said Pen Argyl paid $850,000 for the land. Pen Argyl officials indicated they wanted to buy the property to protect it.
 
Source: The Morning Call, 9.20.03

Work has begun on the Hyatt Place Hotel in downtown Bethlehem, a $17 million project expected to open next year. Posh Construction of Bethlehem said excavation will begin next week, with work on the six-floor, 124-bed hotel lasting for about a year.
 
Source: The Morning Call, 9.24.08

The city of Bethlehem will be the first in the Lehigh Valley to install marked bicycle paths on roads. The markings will be installed on sections of Elizabeth Avenue and Main, New and Fourth streets. The bicycle path announcement was made at Moravian College, which is paying for the Main Street paths.

Source: The Express Times, 9.10.08

If you are considering buying a home here in the Lehigh Valley - NOW IS THE TIME. Contrary to what you may see or hear on the news, yes you can get a mortgage. If you have a job, a decent credit rating, and at least 3% down payment, there is a very good chance you can get a mortgage right now.

Interest rates continue to be at at all time low, home prices are down, the economy is in the tank, it is 100% a buyers market out there - for now. There is absolutely no better time to buy a house in the Lehigh Valley than today. The longer you wait, you risk prices and interest rates going up, especially if you wait until spring or summer. As it is, real estate is a seasonal business. It is always better to buy in the fall and winter, than to buy in spring or summer.

If you are a potential home buyer, almost everything is on YOUR side right now. But all than can change very quickly. Experts are predicting we are at, or near the bottom of the market. This means that at any moment things will start turning around. When that happens, it will cost you more money to buy a house.

If you would like more information about getting a mortgage or buying a house in the Lehigh Valley, I invite you to call me today to discuss your home buying options.

Chris Hoffman, Realtor
Keller Williams Real Estate
http://govalleyhomefinder.com
Cell: 610-533-4549

Fair Isaac, the creator of the fico scoring model, reports the following factors determine a fico credit score:

• 35% payment history
• 30% balances owed
• 15% length of history
• 10% new credit
• 10% types of credit used

The percentages reflect how important each of these factors are.  See any surprises there?  What about inquiries?  They do not even make the list.   Most of these factors are intuitive, but the second largest factor: 30% balances owed, takes many people by surprise.  The key is to keep you credit card balances low, below 30% of the credit limit preferably.  As credit card balances approach the limit, the fico credit score drops.  I have seen some drastic cases where a person has never had a single late payment, but their credit score is in the 500s because of many credit cards being maxed out and usually several of the accounts are new.  Fair Isaac does not distinguish between a credit card with a $10,000 limit compared to a $300 limit, the utilization factor is the same so closely watch those accounts with low credit limits.  If you are planning to apply for a loan, pay your credit cards down at least two months in advance of your application.

Visit my website:  www.dominionrates.com for links to credit education and repair resources.  Now more than ever fico scores are important.

Contact me with any questions about credit and mortgage financing: dan@dominionrates.com

Daniel D. Thierry, CRMS

Sr Mortgage Advisor and Credit Repair Specialist

PH:  610-614-1903

TF: 800-443-4414

Allentown’s visioning committee unveiled a new vision statement to guide revitalization within the Hamilton Street district for the next decade. The statement says: ”We envision the Hamilton Street District as the commercial and cultural heart of the Lehigh Valley, an attractive, welcoming community, filled with activity and energy, offering employment, dining, arts, entertainment, shopping, and residential opportunities, supported by culturally diverse and architecturally attractive neighborhoods.” The statement was developed out of ideas generated by residents, businesspeople, government staff and representatives of nonprofits during the previous four meetings at the Holiday Inn on Hamilton Street.
 
Source: The Morning Call, 8.26.08

The Easton codes department has inspected about half the city’s estimated 4,500 rentals and continues to re-inspect the densely populated West Ward as Easton’s rental licensing program enters its third year. Aug. 15 2008 marked the deadline for landlords to register their rentals and pay the $45 license fee for each apartment they own. According to City Inspectors, the most commonly missed items on the 33-point inspection include bedrooms without smoke detectors, no ground fault circuit interrupters within 6 inches of water and improper handrails and guardrails

Source: The Express Times, 8.25.08

 A federal judge Tuesday hinted he will approve a settlement today that will change the way Bethlehem Area School District voters elect the school board. The Voting Rights Act lawsuit settlement ends two years of litigation and is meant to make it easier for a Latino candidate to be elected. The agreement would break up the district’s nine at-large seats into a system of three regional and six at-large seats. 
 
Source: The Express Time, 8.27.08

 An 88-year-old former silk mill in Allentown PA may get a new life as apartments marketed to professionals working in New York City. Developer Nat Hyman says he wants to turn the third and fourth floors of his property at 315-325 Linden St., a warehouse that was once one of Allentown’s many textile mills, into 57 efficiency apartments that would rent for around $600 a month. The proposed apartments, next to the American Parkway bus terminal, would be ideal for singles or young couples who commute to New York City.
 
Source: The Morning Call, 8.27.08