Montgomery County, PA Real Estate News

By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
It can be a bit of a surprise if your home turns out to be valued at less than the purchase price offered, but this is the type of thing that can occur in an appraisal situation. While this can change everything from your contract to the amount of your down payment if your home has been appraised at less than you envisioned, here are some options you may want to consider.Review The Appraisal Contingency ClauseIf an appraisal contingency clause is built into the terms of your contract, this means that the terms of your contract can be re-evaluated and re-negotiated if an appraisal happens to come up short. While this is meant primarily to protect the homebuyer against a lower appraisal, it doesn’t mean that the terms of a new deal can’t be met for the good of both parties.Get A Second Ap...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Last week’s economic reporting included readings on construction spending and public and private-sector employment data. Weekly reports on mortgage rates and jobless claims were also released.Census Bureau Reports Construction Sending Up by 9.8 Percent Year-Over-YearConstruction spending rose by nearly 10 percent year-over-year in April. Overall construction spending rose by $1.542 billion on a seasonally-adjusted annual basis. Construction spending rose by 0.20 percent in April, which fell short of the expected 0.50 percent reading, and was lower than the March reading of 1.0 percent growth in construction spending.Residential construction spending increased by one percent in April as compared to the March reading of 2.60 percent. Spending on single-family construction rose by 1.30 per...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
When applying for a new mortgage or after closing, many may have the option to choose between a single monthly mortgage payment or smaller bi-weekly payments. There are benefits and drawbacks associated with both options, and some personal financial considerations may need to be reviewed in order to make a decision that is best for the individual. With a closer look at the pros and cons of both options, homeowners or home mortgage applicants can make a more informed decision.Easy Budget Management For SomeWith a single monthly mortgage payment, there is often a need for those who get paid two or more times per month to properly budget so that they can comfortably manage the large mortgage payment with all of their other expenses throughout the month. With bi-weekly payments, the two sma...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
1 Princeton Road in Plymouth Meeting, Montgomery County is now for sale. Open houses Saturday 6/5 and Sunday 6/6 from 10 am to 12 noon. Welcome to the newly remodeled 1 Princeton Rd. This remodeling has held nothing back, with great flow on the main floor, a large formal living room, an open plan dining room and a large kitchen with a peninsula island and eat in breakfast area. Access to the spacious backyard and pool from French doors in the dining area and slider in the breakfast area. Also enter the main floor in-law or au pair suite with full bath from the main-floor breakfast area or direct private entrance from outside, making this home a 6 bedroom, 3 full bathroom gem in a wonderful location. There is additionally a spacious family room with a fireplace that elegantly completes t...
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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)
March readings for S&P CoreLogic Case-Shiller Home Price Indices rose to their highest level since 2005 in March. National home prices rose by 13.20 percent year-over-year as compared to February’s reading of 12.00 percent growth. The Case-Shiller 20-City Home Price Index reported average year-over-year home price gains of 13.30 percent in March. Phoenix, Arizona continued to lead the 20-City Index with a year-over-year home price growth of 20 percent. San Diego, California followed with home price growth of 19.10 percent; Seattle, Washington reported year-over-year home price growth of 18.30 percent.How the Covid Pandemic Impacted  Home PricesReal estate pros said that the Covid epidemic continued to impact housing markets as homeowners were more willing to list their homes as Covid ca...
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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 home price growth, new and pending home sales, and inflation. Weekly readings on mortgage rates and jobless claims were also released.Case-Shiller Reports Highest Gains in Home Prices Since 2005March home prices grew at a seasonally-adjusted annual rate of 13.20 percent according to S&P Case-Shiller’s National Home Price Index for March. National home prices gained 12.00 percent year-over-year in February; the corresponding 20-City Home Price Index reported that Phoenix, Arizona held the top spot for home price growth for the 22nd consecutive month; home prices rose by 20.00 percent year-over-year. San Diego, California followed with 19.10 percent growth in home prices, and Seattle, Washington posted year-over-year home price growth of 1...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
TOO LATE - THIS HOME IS NOW UNDER CONTRACT! We just listed this 4 bed 3 1/2 bath town home in Coddington View in Pottstown at 192 Stone Hill Drive, priced at $300,000 it has a ton of upgrades selected by the original purchasers.   Open House Sunday May 30 10-12.  Wonderful end unit town home, with every upgrade they could get, Upgraded flooring, 9' ceilings on main level, main bedroom with trey ceiling, fans throughout the house, granite counter tops, stainless steel appliances, tiled showers, large step down rear deck 14' by 12' approx. size, sound system throughout, iron banister railings. Freshly painted. On top of all this, this home has 4 bedrooms, 3 FULL baths and a powder room. 1 car attached garage. Home has been fitted with pipes for central vacuum system, just needs canister a...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Coming soon - 1 Princeton Road, Plymouth Meeting, PA 19462.Virtual Tour  Welcome to the newly remodeled 1 Princeton Rd. This remodeling has held nothing back, with great flow on the main floor, a large formal living room, an open plan dining room and a large kitchen with a peninsula island and eat in breakfast area. Access to the spacious backyard and pool from French doors in the dining area and slider in the breakfast area. Also enter the main floor in-law or au pair suite with full bath from the main-floor breakfast area or direct private entrance from outside, making this home a 6 bedroom, 3 full bathroom gem in a wonderful location.  There is additionally a spacious family room with a fireplace that elegantly completes the main floor.  Home has new roof and gutters, new bathrooms, ...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
If you’re buying a home, you’ll want to try to get your mortgage processed as quickly as possible. Improperly filed mortgage applications are one of the biggest reasons why home sales get delayed, and if you have a hard move-out date already set, it’s critical that your mortgage process goes smoothly.With careful planning, though, you can shorten the mortgage process and get your financing approved faster. Here’s what you need to do to speed up the approval.Get Your Paperwork in Order Before You ApplyOne of the biggest reasons why mortgages get delayed is because the applicant is missing a vital piece of paperwork. Something like a missing pay stub or a forgotten home insurance document can hold up the mortgage process, so make sure you have everything you need before applying for your ...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Last week’s economic reporting included readings from the National Association of Home Builders, data on sales of existing homes, and reports on housing starts and building permits issued. Weekly readings on mortgage rates and jobless claims were also released.NAHB: Home Builder Confidence Unchanged in MayThe National Association of Home Builders Housing Market Index reading for May was unchanged from April’s reading of 83. Readings higher than 50 indicate that most home builders were positive about housing market conditions.Component readings for builder confidence in housing market conditions in May were mixed; builder confidence in current market conditions was unchanged with an index reading of 83; builder confidence in market conditions in the next six months rose one point to 81 a...
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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 inflation, core inflation, and the University of Michigan’s  Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also released.April Inflation Rate Hits 13-Year HighThe federal government’s Consumer Price Index rose by 0.80 percent in April as compared to the March reading of 0.60 percent. Analysts expected inflation to increase by 0.20 percent in April. Core inflation, which excludes volatile food and fuel sectors, rose by 0.90 percent in April. Analysts expected core inflation to grow by 0.30 percent in April which would have been unchanged from the March reading of 0.30 percent Core inflation rose month-to-month at the fastest pace in forty years and grew by three percent year-over-year, which was the h...
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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)
When spring arrives, many people want to spend more time outdoors enjoying the fresh air and warmer temperatures. While you could lounge in a chair with a good book, you may find it more enjoyable to plant your own vegetable garden. This is an on-going project that will require you to spend time outdoors regularly, and it can be quite enjoyable to watch the fruits of your labor spring to life. More than that, you may love to sample and even share the tasty treats that you have grown on your own. If you are ready to get started planning and planting your vegetable garden, follow these preliminary steps.Choose the Plants That You Want to GrowAs a first step, think about the types of plants that you want to grow in your garden. These should ideally produce vegetables that you and your fami...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
Becoming a homeowner for the first time is exciting. However, for many potential buyers, the process can also be confusing. Below is an overview of the steps you need to complete in order to buy your first home. Work Out The FinancesThe first step in buying a home is deciding on a price range. This price range will be determined by your income, as well as your own comfort level with home prices and monthly payments. Consider all of these factors to determine the maximum amount you are willing to spend on your new home. In most cases, you will be required to pay the downpayment and closing costs upfront, even if you are financing the rest of the home’s purchase price. In general, most lenders will expect a downpayment equal to 20 percent of the home’s purchase price. Otherwise, you may b...
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By Joe Gonzalez, NMLS# 126036 (610) 739-6563
(CrossCountry Mortgage, LLC NMLS #3029)
The process of buying a home can be riddled with obstacles. However, you can avoid many of the most common home buying pitfalls with some advanced preparation. Below are some of the most frequent problems home buyers face, as well as tips for avoiding them. You Can’t Qualify For A Mortgage Nothing is more frustrating than learning that, even though you make enough money to afford your dream home, you cannot qualify for the mortgage you need. This may happen because your credit score is low or because you cannot verify your income in a way that satisfies your lender. To avoid this pitfall, investigate lenders’ requirements before you begin the application process and make sure you meet them all. You Discovered Problems With The Home After You moved InIn some cases, a home may seem perfec...
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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)
Home buying is often made possible or unreachable due to the local and national economy. Fortunately, what goes up, must come down. So, for buyers who can wait, economic changes in supply and demand can create opportunities. These shifts in real estate are known as buyer’s markets and seller’s markets. The seller’s market specifically tends to be the harder one for homebuyers. In short, sellers see a lot of demand, so they can command higher prices for a sale. Things are competitive, sell fast, and inventory is low. For buyers, it’s a headache, but there are ways of handling the challenge.Understand Your Local Market BetterMany people might throw out the statement locally, “Oh good luck, it’s a seller’s market,” but that’s not necessarily the case until you can confirm it objectively. I...
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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)
Last week’s economic reporting included readings from Case-Shiller Home Price Indices, data on pending home sales, and a statement from the Fed’s Federal Open Market Committee. The University of Michigan released its Consumer Sentiment Index and weekly reports on mortgage rates and jobless claims were also published.Case-Shiller: February Home Prices Rose at Fastest Pace Since 2006National home prices rose at a seasonally adjusted annual pace of 12.00 percent, which was the fastest pace of year-over-year home price growth in 15 years.  Case-Shiller’s 20-City Home Price Index reported 11.90 percent home price growth year-over-year and 1.20 percent growth month-to-month. All 20 cities reported inFebruary.Phoenix, Arizona held its lead with 17.40 percent year-over-year home price growth fo...
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