King of Prussia, PA Real Estate News

By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
This sale had some challenges, multiple offers, a bad appraisal, change of lender, new appraisal, delays and Coronavirus pandemic.But this lovely renovated town home in the heart of Heritage Manor in King of Prussia, with three beds, 2 1/2 baths is now closed.Settlement felt very odd, all week we have been working towards it, with deed packages, final walk through, removing the lock box, picking up the deed package, dropping off the package, key and deposit check to the title company handling closing. All done without meeting face to face with anyone. Today, is usually a day of celebration, with clients, with the buyers, the other agent and feeling good. But it feels sort of anti-climatic as I am sitting at home working remotely again.But, eveerything went smoothly when it could have fa...
Comments 14
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
If you have paid attention to the news recently, you have probably heard about the coronavirus pandemic which also goes by the name COVID-19. Those who are exposed to the virus might be asked to place themselves in quarantine. Some states have even told their residents to shelter in place. While this infection has forced everyone to change the way they live their lives, there are still some home improvement projects you can tackle during quarantine to put your free time to use.Jump On Spring CleaningOne of the first home improvement projects people need to tackle is spring cleaning. Spring is right around the corner so it is time to sort through items that aren’t needed anymore. Start with the wardrobe closet and figure out what is going to be worn during the warmer months, what can be ...
Comments 2
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
According to data from the National Association of Realtors, existing-home sales increased by 3.6% in December 2019. That pace is the strongest month-over-month in almost two years, since February 2018. The sales figures were also up 10.8% from what they were in December 2018.What’s behind this uptick? The biggest factor driving the surge in home sales is historically low mortgage interest rates. Plummeting RatesDuring the last week of February 2020, mortgage rates fell to their lowest in three years and were hovering – just barely – above all-time lows. The 30-year fixed-rate mortgage was sitting at 3.45%, almost exactly one percentage point below the same week in 2019. Its lowest rate ever, 3.31%, was reached in November 2012 immediately following the recession.Despite widespread unea...
Comments 2
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
It is important for everyone to take steps to diversify their assets. While many people take this to mean holding multiple stocks, bonds, and mutual funds in the market, this also includes branching out into the real estate industry. The real estate industry is far more stable than the stock market and provides a fantastic opportunity to generate reliable returns. At the same time, there are lots of options to choose from when it comes to investment properties.Here are a few tips everyone should keep in mind.Buying And RentingOne option is to purchase a single-family home as a second building and then rent it out. On the other hand, it is also possible to purchase a multi-unit property and rent out each individual unit. One of the biggest factors to keep in mind is that the owner is goi...
Comments 0
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Real estate investing is not only a great way to diversify assets but can also be used to generate both income and capital appreciation. While this is a fantastic opportunity, it is also important to choose investment projects carefully. It is critical to ask the right questions before making an offer on an investment property.Why Is The Building On The Market?There is a reason why the property is on the market. It is important to know the answer to this question. Sometimes, the house is on the market purely because the owner is moving for job or family purposes.On the other hand, there might be an issue with the integrity of the structure. Be sure to figure out the true nature of the building before making an offer.What Are The Other Offers?It is important to know the competition when ...
Comments 0
By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
This beautifully updated town home in Heritage Manor,  King of Prussia with two assigned parking spaces is now under agreement, following intense interest from multiple buyers.After a short but busy marketing period and a busy open house last weekend, showings were brisk and resulted in several offers this past weekend with agents scrambling to put paperwork together so their clients would be successful.We are now in a short contingency period and hopefully will move forward to a smooth settlement.Interested in Main Line homes coming on the market, contact us today so we can make sure you are also successful, selling or buying your next home. 
Comments 20
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
The vast majority of people are going to move at least once in their life. Moves can vary in distance. Sometimes, these moves are across town. Other times, they might be across the country. Regardless of the distance, is important to find a neighborhood that fits both the budget and lifestyle. There are a few tips to keep in mind.1. Consider Renting FirstEven though there are powerful electronic tools that can help a family narrow down their potential landing spots in a new city, it is impossible to be 100 percent certain that the community is a comfortable fit until actually living there for some time. Therefore, it might be a prudent idea to try renting first.Renting in that location doesn’t come with the same commitment as buying property. Therefore, if the neighborhood isn’t the rig...
Comments 2
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Buying a home for the first time can be a challenge. One of the tools created to help people buy a home for the first time comes in the form of FHA loans. There were loans that were supported by the Federal Housing Administration (FHA). They can require a down payment that is as low as 3.5 percent. FHA loans are significantly different from traditional mortgage loans. Those who have purchased a house before have likely heard that the average down payment is closer to 20 percent of the value. This can make it hard for someone to buy a home, particularly if they already have a car loan and credit card debt.The Role Of The Credit Score For FHA LoansAnyone who is interested in a mortgage with a down payment of 3.5 percent will want to do everything they can to make sure they have a strong m...
Comments 0
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
The National Association of Home Builders reported a housing market index reading of 74 in February; the index reading was one point lower than for January and was only two points below the highest reading of 76 reported in December. Readings over 50 indicate that most builders consider housing market conditions to be positive.Factors contributing to builder confidence included strong housing markets and low mortgage rates; job growth and higher wages also boosted builder confidence.Low Inventory Influences Home PricesLow inventories of available homes continued to drive demand and rising home prices. Homebuyers faced with low supplies of existing homes turned to new home developments for additional options. First-time homebuyers faced obstacles including affordability and student loan ...
Comments 0
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Did you know that some home improvements lower the resale value of a home and decrease the number of potential buyers? If you are going to repaint the exterior of your home bright, traffic-cone orange and try to sell it for a high price, think again! Maybe, if the artist Pablo Picasso once lived there that might work, but probably not under any other circumstances.Some things are counter-intuitive. A swimming pool is an example. Swimming pools are great and highly desirable for many people. However, others do not necessarily think so and only see them as adding unnecessary expenses for maintenance and upkeep.There are general guidelines to follow, which give you a better chance to increase the resale value of a home by making certain improvements. If possible, work with your REALTOR® wh...
Comments 1
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Buying a new home is a big step for individuals and families. This is a time for celebration as the new furniture gets moved in, everyone gets adjusted, and the honeymoon phase starts with the new home. On the other hand, buying a home also means that all of the responsibilities rest with the owners.Here are a few common problems that new homeowners face.Taking Care Of The OutsideMany homeowners are quick to realize that there is a tremendous amount of maintenance on the outside of the home. Now, the exterior is their responsibility and doesn’t fall on a landlord. Sure, it can be helpful to hire someone; however, this can be expensive.Some of the common questions that homeowners have include how frequently they should water the lawn. There might also be questions regarding which type of...
Comments 1
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Investing in real estate is a great way for someone to diversify his or her assets; however, there is a common hurdle that almost all real estate investors face. This comes in the form of a down payment. It can be a challenge for someone to come up with enough cash to fund the down payment on a home or piece of land, let alone multiple properties. At the same time, how big of a down payment does someone really need? There are a few factors that someone is going to need to consider.The Conventional MortgageThere are plenty of investors who like to stick with a conventional mortgage for their investment properties. This makes sense because this is a format they are familiar with. For a conventional mortgage, the down payment is going to fall between 10 and 25 percent.When taking out a con...
Comments 0
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
When it comes to selling a home, there is a lot to think about. While most people know that the best time to list a home is in the Spring (due to the fervor of the summer), the real estate market keeps rumbling along no matter what time of year it is.With this in mind, it is important to have a firm strategy in place. This comes in the form of a real estate professional. In addition to trusting the professionals, there are a few other important points to keep in mind.Don’t Trust The Online EstimatesThe internet has impacted almost every area of the economy. This includes real estate. Many homeowners love visiting sites to get an estimate of how much the home is worth. Unfortunately, these online estimates are often inaccurate.There is not a real estate professional employed by these sit...
Comments 0
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Sellers of homes often make mistakes that are not in their best interests. Here are common mistakes people make when selling a home and how to avoid them.Using Bad PhotographyUsing lousy photos or no photos to promote the property for sale is foolish. Professional photography is not so difficult or expensive that sellers should settle for the use of bad photos. Sometimes all the potential buyers will see is the photos they find online. If the photos are bad or not there at all, then that is the end of their interests. To stimulate interest in a property, it is even better to use a high-quality video walk through than simple photos. This allows a buyer to enjoy a virtual showing of the property.Allowing Emotions To Control The ProcessSometimes, buyers should step aside and let the expert...
Comments 1
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
When someone is looking to purchase a house, they need to think about how long they want their mortgage to last. While a bank can structure a mortgage to last for any number of years, the most common lengths are 15 and 30 years. While a 30-year mortgage is typically more affordable, a 15-year mortgage is cheaper overall. When someone is trying to decide how long they want their mortgage to last, there are a few important tips to keep in mind.The Benefits Of A 15-Year MortgageThere are a few important benefits that everyone should know about a 15-year mortgage. Some of the biggest benefits include: With a 15-year mortgage, people are going to pay off their home more quickly. This will free up cash to spend in other places. Those who are looking to retire without a mortgage may want to go...
Comments 0
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Owning a home comes with a lot of responsibility. Many of the responsibilities that people think about involve home maintenance. There are few things that frustrate a homeowner more than having repair and maintenance bills come up. At the same time, it is important to address these properly.For this reason, it is important for everyone to understand the most common how-tos people search for. This will give someone a glimpse into some of the responsibilities he or she might face when owning a home. Those who can handle these how-tos can save money on maintenance costs and repair bills.How To Unclog A DrainOne of the most commonly searched how-tos is how to unclog a drain. Some of the drains that might get clogged include kitchen drains, sink drains, and bathtub drains. When these drains ...
Comments 1
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
It is important for everyone to diversify their investments and one of the assets that people often look toward is real estate. In a healthy market, real estate should appreciate in value.It is often less risky than investing in individual stocks and can provide a much higher return on investment than a typical bank savings account or even a money market account. On the other hand, people often think that they require a large amount of money to even think about investing in real estate. This is not always the case.Buying Property OutrightOne of the most straightforward ways to get started in the real estate investing market is to buy property outright in an area that is set to appreciate in value. Then, people can rent the property out to tenants as a way to generate a steady stream of ...
Comments 0
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
When you are looking to purchase a home, you might hear a lot about something called a homeowners association, often shortened to HOA. While there are benefits of having an HOA in a living community, these benefits also have their drawbacks.There are a few common headaches that people often experience when they move into a community that has an HOA. Anticipating these problems ahead of time can help everyone prepare for what they might encounter.The Maintenance In The Common AreaWhether you are living in a condo or in a neighborhood, the HOA is supposed to maintain the community common areas. This includes pool maintenance, lawns, landscaping, gyms, and more.In some areas, your HOA might even be responsible for cleaning up after a storm goes through the area. Sometimes, this simply does...
Comments 4
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
If you are looking for a new home, or if you are looking to renovate your existing home, you might have heard about something called an open floor plan. In today’s era of housing, this layout has become more popular.In an open floor plan, there is a single, large space that can act as multiple rooms all in one. Often, hallways, walls, and doors are left out. This makes the entire space feel more inviting. There are numerous advantages to this plan that everyone should keep in mind.Added Natural LightOne of the biggest benefits of this plan is that there is added natural light. Without the interior walls, light has an easier time passing through space. This connects the indoor world to the outdoor area.In order to maximize this benefit, it is a good idea to add a few extra windows in the...
Comments 2
By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Remodeling is a common project that homeowners take on. If you are looking to remodel your home, it is important to keep in mind that this involves more than just improving your living area. If you remodel your home, you might also be expecting to generate a return on your investment. In prior years, a home remodel meant an increase in the value of your home. Furthermore, some people actually make money by buying homes, fixing them up, and selling them. This is commonly called “flipping.” Unfortunately, like other sectors of the economy, this market ebbs and flows. Recently, it looks like the drive to remodel homes has taken a downturn.Why Homeowners Steer Away From RemodelingThere are financial and real estate professionals who analyze this market just as other professionals look at ot...
Comments 0
Explore King of Prussia, PA
King of Prussia, PA Real Estate Professionals