King of Prussia, PA Real Estate News

By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
The housing market has been through many ups and downs during the past 12 months. Now, buyers are facing a unique challenge as they try to find the right house in the perfect seller’s market. Right now, real estate is extremely competitive, as low inventory has continued for several months.As mortgage rates remain low, more people are looking for homes, increasing the competition. Some people are reluctant to sell because they know they will face the same challenges of trying to find a new home themselves. As a result, the housing market has record-low inventory making it difficult for buyers to find the right house in their budget.Builders Have Not Constructed As Many New HomesWhile a reluctance to sell is one reason why the housing market has become competitive, it is not the only one...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Moving into your first home is an exciting experience, but it can also be overwhelming. To manage the move properly, you need a wide variety of tools you may never have considered before. You may not realize you should have purchased a certain item until you need it. To prepare for the move into your new home, make sure you have all of the items listed below. Storage For DocumentsAs a homeowner, you will need to keep and organize a variety of documents, including receipts, warranties and even your mortgage papers. Consider buying a fireproof box or cabinet to store these items.Fire ExtinguisherEvery homeowner should have at least one fire extinguisher on hand. Make sure your fire extinguisher is stored in a location that can be accessed easily in the event of a fire. Extension CordsExte...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
As a home buyer, you may go through a number of different steps to ensure that the property that you purchase is in great condition. For example, you may complete an initial walk-through or even several home tours before you make an offer. You may also order a property inspection and even negotiate for the seller to make some repairs on your behalf.A day or two before your closing date, you may set up a final home inspection to ensure that the home is still in the same condition as the initial walk-through. In most cases, there will be no problems with the final inspection. However, in the event that there is a problem with the final inspection, you will need to know how to handle it.Work With Your Real Estate AgentAs a first step, you should discuss the issues with your real estate age...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
If you’re selling a home today, you know that it’s a seller’s market in many areas throughout the country. What you may not know, though, is that there are still things you can do to make your home even more desirable. From adding SMART home features to properly staging a home, there are plenty of things you can do to drive up the price and create a frenzy of bidding activity for your home. One of those things is to add green features to your home.What Are Green Home Features?Adding green features to your home doesn’t mean you’re painting the walls green or going for some odd decor. Instead, it means you’ve added one or more environmentally friendly features to your home. The following are a few green features you can add to your home that will add incredible ROI when the time comes to ...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Aside from owning a business, owning rental property has been one of the top investment choices for people, most commonly done through buying a second home. Handled right, income properties can generate significant gains for investors, both in terms of real estate appreciation as well as monthly income from tenants. However, it’s not sure a surefire approach to financial success. There are a lot of ways that a budding real estate investor can go sideways with an investment property home purchase as well.Watch Out for the Seller-RenterMany times people will sell a home but then offer to rent it from the buyer, essentially trading their home title for ready cash but not really moving out. These situations come up a lot where someone wants to stay where they are but doesn’t want to deal wi...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Upgrading your rental doesn’t need to cut deeply into your profits. You can add curb appeal and help prospective tenants see your rental as their next home by making some simple changes. The following upgrades are all things that a handy landlord can do without needing to hire professional contractors.1.  Decorative Switch PlatesReplace ugly cream switch plates with either stainless steel models or decorative designs. Fancy switch plates for light switches and electrical sockets cost very little, yet make any room look nicer. The best part is, you can do the replacements yourself, using only a screwdriver.2.  Flower BedsBeautiful flower beds make any rental look more inviting. You can enhance curb appeal by planting inexpensive perennials around the front of the rental and along the pat...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
The national reading for home builder confidence rose one point to an index reading of 83 in April; the National Association of Home Builders predicted a reading of 84. Component readings for April’s national index readings were mixed.  Builder confidence in current market conditions for single-family homes rose one point to 88. Builder confidence in market conditions for single-family homes in the next six months fell two points to 81 but homebuilder confidence in buyer traffic in new home developments rose two points to an index reading of 75.Readings over 50 indicate a majority of builders are positive about housing market conditions. Buyer traffic readings published before the pandemic rarely exceeded index readings of 50.Regional Home Builder Confidence VariedRegional readings for ...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
If your personal budget is similar to many other people’s budgets, your home mortgage payment is by far the largest expense that you pay for each month. In fact, this payment may easily account for 20 or 25 percent or more of your take-home income.Understandably, you may be focused on trying to pay this expense off early. By focusing on this payment, you can build equity and may be able to achieve financial security more quickly. You simply have to find a way to put aside a bit of extra cash regularly so that you can make extra payments, and there are few easy ways that you can consider.Use Your Tax RefundFirst, if you are one of the many taxpayers who receives a refund each year, consider setting aside some or all of this refund to reduce your outstanding mortgage balance.Some taxpayer...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Whether you are preparing to purchase your first home or it has been many years since you last walked through the home buying process, you may be starting to feel overwhelmed at the thought of all of the work that lies in front of you. From concerns about finding the right home to the physical act of relocating all of your belongings after the closing, there is certainly a lot to think about. While each home buying transaction is unique, the most successful home buyers have typically adopted a few behaviors. You may keep these in mind to help you navigate through the process with success.Keep An Eye On Your BudgetFinancial stress when buying a home is common. You may have saved for years to afford your down payment, but there are various expenses that some may have not calculated or pla...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
In 2019 many people expected that the home lending market was going to eventually grow more expensive. Instead, 2020 spent its entire 12 months becoming more affordable when it came to financing a personal home, moving in the opposite direction of what was expected. Not only did the loan cost drop break previous records, but it also presented an additional opportunity for homeowners to reposition and take advantage of lower borrowing costs again.The General Advantages of a Home Loan RefinanceThe refinancing of a mortgage has traditionally been three-fold. First, it is a chance to re-negotiate the loan on a home purchase for a lower interest rate, which means more of the borrower’s payment goes to the loan and less to an interest charge. Second, it gives people an option to change the in...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
This past year has been stressful for everyone involved. A lot of people have had to spend more time in their house than they ever have in the past. When this is combined with trying to conduct work and school from home, it is easy to see why people are so eager to get out of their house. Even though a lot of people are spending more time outside, it might be better to consider moving entirely. The reality is that a lot of people are currently associating their home with a lot of bad memories. Therefore, moving may be a smart idea. What should people consider when moving? Think About The Weather In The New LocationFirst, it is important for everyone to think about the weather. Of course, the first factor is the average temperature. People should look for a location that isn’t too cold o...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
There is a lot of jargon that comes with purchasing a home. Even though this could be confusing, purchasing a home is also a significant decision. Therefore, it is critical for everyone to understand exactly what they are signing before they scribbled their name on the dotted line. In some cases, a co-borrower or a co-signer (also called a non-occupying co-borrower) could be needed to strengthen the application. What is the difference between these two terms? What Is A Co-Borrower?First, a co-borrower is simply a co-owner. Both names are on the title of the home. The co-borrower also shares the responsibility of the debt. This arrangement is usually used when two people are purchasing a home together. Usually, the primary borrower is going to be the person with the higher credit score. ...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
It is important for everyone to diversify their investments. When people hear this term, they usually think about diversifying their investments across stocks, bonds, and mutual funds. In addition, it is also a prudent idea to leave the traditional financial markets and look for other sources of wealth as well.This includes real estate. Without a doubt, this has been a challenging year. At the same time, those who are looking to build wealth should consider purchasing a house this year. There are several reasons why.Mortgage Loans Are At Historic LowsThose who have checked mortgage rates recently have probably found that they are close to historic lows. Therefore, a lot of people who would otherwise not be able to afford a home might be able to purchase a home at a relatively low price....
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
When you are going through the process of looking for a new home, you are probably focused on the sticker price of that home. Even though it is important to think about your down payment, your monthly mortgage payment, and the total amount of the loan, there are other expenses that you might need to cover as well. If you do not put down enough money, there is a chance that the lender could ask you to pay for something called private mortgage insurance. What is private mortgage insurance and how much do you have to pay? There are several important points that you should keep in mind.Why You Might Purchase PMIPrivate mortgage insurance is something that the lender may ask you to purchase as a way to reduce their risk. If you do not make a sizable down payment, then the lender is responsib...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
If you are self-employed, either as a freelancer or as the owner of your own business, your income can fluctuate greatly from year to year. That can make it difficult to get approved for a mortgage, although there are some things you can do to improve your chances. Here are three tips for securing a mortgage if you are self-employed.Make Sure Your Credit Score Is In Good ShapeWhile your ability to pay back a mortgage is the most important factor in approval, your credit score is a close second, and that goes for every borrower, not just those who are self-employed. If you have a credit score in the high range — something above 750 or 760 — it will help you get approved for a mortgage. To boost your score, make sure you pay all bills on time, pay down your debt levels and don’t make any ...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Light is an important design element that can be used to influence your interior decor in a number of ways. In fact, you can experience a major transformative change on the overall style and ambiance of a room by making a few simple lighting changes. Consider how these ideas can help you to improve the look of your space with great results, and think about ways that you can improve your space by making a few changes.The Addition of SpotlightsIf you have fine pieces of artwork, decorative display areas or other features that you want to illustrate with beautiful clarity, the addition of spotlights is a great idea. You can shine light on these special features in your home by installing a single, bright fixture with a focused beam overhead, or you can use track lighting to highlight large...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
For those who are looking for a new home, it is important to take the time to get this decision right. For a lot of people, a home is the most valuable investment they are ever going to make. As a result, it is critical to evaluate all of the options that are available. That way, everyone will get the most out of their time. What about setting a budget? How important is this and should people think about going over it?It Is Important To Budget FirstWhen someone is looking for a home, the first step is to know the budget. As a rule of thumb, those people should try to avoid spending more than 30 percent of their monthly income on housing expenses. This is monthly income before taxes. For those who are having trouble doing this calculation, this is an area where a trained professional can...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Do you have a mortgage? You’ve likely seen or heard a lot about mortgage refinancing as interest rates remained low in recent months.In today’s blog post we’ll explore the topic of mortgage refinancing, including when you should consider refinancing and how to take advantage of low interest rates.What is Mortgage Refinancing?In simple terms, refinancing refers to the practice of taking out a new mortgage and using the proceeds to pay off your old one in its entirety. You’ll go through the full borrowing process with your chosen lender, including the credit check, financial history and employment history in order to ensure that you have the ability to pay your new mortgage – even if your monthly costs are lower.Depending on your financial goals, you may refinance to tap into some of the ...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Last week’s economic reports included readings on construction spending and reports on the national unemployment rate and job growth. Weekly reporting on mortgage rates and jobless claims were also published.Construction Spending Increases as Demand for Homes RisesHomebuilders responded to increased demand for single-family homes and increased their spending in November. Construction spending rose by 0.90 percent as compared to projected spending of 1.10 percent and  1.60 percent growth in November. Demand for homes increased in recent months due to the coronavirus pandemic. Homeowners left urban areas and bought larger homes in suburban and rural areas. Low mortgage rates, flight from cities, and needs related to working from home and homeschooling fueled demand for single-family homes...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
For those who are trying to buy things for their home, it is important to think carefully. Nobody wants to overpay; however, reaching for something cheap may simply end up getting replaced quickly. There are a few highlights that everyone should consider purchasing for their home in January!Purchase Some Furniture In JanuaryFirst, everyone has to make sure they think about buying furniture either in January or July. A lot of furniture manufacturers provide retail stores with new pieces in February and August. Therefore, a lot of furniture will go on sale starting either in January or July.Storage Items Go On Sale In JanuaryAgain, a lot of stores will roll out sales in January for storage essentials such as baskets, shelves, and organizing systems. There are a lot of student’s who are lo...
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