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Home Buying in 19401 : Real Estate Advice

  • All46
  • Local Info6
  • Home Buying19
  • Home Selling3
  • Market Conditions1

Activity 18
Wed Feb 24, 2016
Julie277 answered:
Are you still looking to buy? What are you looking for?
0 votes 1 answer Share Flag
Thu Aug 27, 2015
Iantha asked:
Sat Feb 21, 2015
Bobby Daddis answered:
Rent to own are few and far between. Look for a home that has been on the market for a long time where you think they may be in desperation mode and offer them the lease purchase option. Your best bet. ... more
0 votes 3 answers Share Flag
Sat Feb 21, 2015
Bobby Daddis answered:
Almost all lenders are Fha approved. In our area I suggest you Google gateway funding in conshohocken. They are the best of the best.
0 votes 4 answers Share Flag
Sat Feb 21, 2015
Bobby Daddis answered:
Tons. If you stay in the Norristown school District, that is where you will get best prices.
0 votes 5 answers Share Flag
Fri Jan 16, 2015
Gloria Fuentes answered:
Hello,
I have been helping some F1 visa people to get their mortgage and properties. I would be more than happy to help you too.

Contact me.

Gloria Fuentes
Keller Williams Real Estate
610-416-9434
makethatmove@kwrealty.com
... more
0 votes 8 answers Share Flag
Fri Aug 31, 2012
Irina Karan answered:
Besides finding a really knowledgable agent (one way is buy using Find a Pro on Trulia.com and then reading what these agents write), I suggest:

1) Check home prices on Zillow.com - the auto valuations there are not perfect, but trends are
2) Ask your agent on what type of contracts there are in your state, ask to get them and then actually read them before starting your house hunt
3) Get a pre-approval to know your buying limits/potential
4) Meet with a loan officer to find out all details of underwriting guidelines, home/condo insurance,
overall mortgage process

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
... more
0 votes 7 answers Share Flag
Tue Jan 10, 2012
answered:
Adding someone to title later isn't how a "due on sale" clause or "alienation clause" or any other acceleration clause would be normally triggered, it'd be on the sale or transfer of the property without the mortgage company's knowledge. Doing a quit claim to add someone and at the same time remove another party's interest would definitely trigger an acceleration clause as the person on the security instrument is no longer on the deed.

If this explanation is wrong in any way, please correct and provide links to references.
... more
1 vote 9 answers Share Flag
Mon Apr 18, 2011
Shell answered:
~ Local taxes are not deducted from your paycheck based on the localilty at which you reside.
~ Local taxes are deducted based on the location of the employer's business and they are not required to deduct any other local other than Philadelphia because it superseeds all other local taxes.
~ When completing your tax returns you can apply the money deducted from your employer to where you reside. If you happen to live in an area that has the same percentage as what was witheld. GOOD FOR YOU! If not, open up your check book because you will have to pay the difference to the Tax Collector.

Example: I am a Norristown Resident living in the 2.1% area and I work in Blue Bell which is only 1%. When I file my taxes I have to pay the 1.1% difference. The 1st 1% was already deducted by my employer and submitted to Berkheimer on my behalf quarterly.

If your accountant does not understand the above. Find a new accountant.
... more
1 vote 10 answers Share Flag
Thu Mar 31, 2011
Thomas Richard answered:
My 2 cents (even though its only worth 1)
As a hobbyist rental property owner, I've always avoided Norristown because of the extremely high property taxes and the vast number of rental properties there. These taxes have to be figured into your calculations along with purchase price, upkeep and maintenance costs, insurance, vacancies... etc etc.
I have always lived by a simple "1% Rule" which is: $Rent =/> 1% of the purchase price. Based on this rule and Brian's (Mittman + Rehling) median sold price of $155,000, the median rent should be $1,550/month for the area. If the property doesn't meet this simple calculation, you will NOT make money on it in the form of rental income. Obviously this is an over simplified formula, but it has served me well.
Good luck
Tom
... more
0 votes 5 answers Share Flag
Mon Feb 21, 2011
answered:
Hello Maryalice,

Check with the local tax collector if that is an option. However before you do that, if you have a moirtgage check with the lender. Most lenders will insist that they pay your taxes from an escrow account if you have less than 205 down. I have seen cases where some lenders are now are paying taxeson behalf of the adding an escrow payment to the mortgage. So whatever the tax collector says, get something in writing from the lender too.

Alan
... more
0 votes 2 answers Share Flag
Thu Feb 3, 2011
Mika Lisiewski answered:
Mark,
Fill me in on what draws you to this property. If it's location, there are 10 properties currently for sale within .2 miles of this property ranging from $30,000 to $174,900. If it is size, there are 26 properties with 3BR/2Bath in Norristown ranging $100,000-$299,900. Please let me know if you are interested in finding out more about any of these properties.

Sincerely,
Mika D. Lisiewski
REALTOR
CENTURY 21 Alliance
630 Germantown Pike
Lafayette Hill, PA 19444
office: 610-828-2700 ext.275
cell: 610-226-5727
email: mikacentury21@aol.com
Licensed in PA RS308999
... more
0 votes 3 answers Share Flag
Fri Jan 7, 2011
Ian A. Wolf answered:
I had something similar happen once to me. Just call the title company/closing agent, and it should be able to be corrected relatively easily, especially if your deed and other docs, etc. are correct. ... more
0 votes 6 answers Share Flag
Thu Oct 14, 2010
Phong Lam answered:
Hi Mr. Christopher,

How are you? Thank you for your online inquiry. First off, congratulations for your accepted offer! You are right about title insurance being standard pricing for title companies in PA! I normally recommend my buyers to get the title insurance that is affiliated with my brokerage firm because I know that they are very thorough with their title searches and are very reputable and has also been in the business for a very long time.

The one thing that you might want to have your buyer's agent find out is if the current owner has their title insurance for 10 or less years; and if so, you would be entitled to a re-issue rate (discount) as set forth by the PA Insurance commissioner. Hope that helps!

If you have any other questions, please feel free to email or call me at (267) 918-1880. Thank you very much for your time and good luck with your purchase!

***** If you like the answer - please consider giving it a Thumbs-up & making it a "Best Answer" ! Thank you! *****

Best Regards,
Phong Lam, CSM
REALTOR®
CENTURY 21 Advantage Gold
2010 Oregon Avenue
Philadelphia, PA 19145
Business: (215) 465-1400, ext. 508
Fax: (215) 336-7793
Mobile: (267) 918-1880
Email: Phong.Lam@c21ag.com
www.c21ag.com
Professional Profile & Testimonials: www.linkedin.com/in/PhongDucLam
To connect with me: www.retaggr.com/AddMe/PhongDucLam
Buyers' Info: www.facebook.com/TriCountyPhiladelphiaHomebuyers
Sellers' Info: www.facebook.com/TriCountyPhiladelphiaHomeSellers

Century 21 Advantage Gold Top 21 Percent Award for 2009!
A referral from you would be the biggest compliment you could give me!
If you're interested, please ask me for your FREE Local Market Report for home values in your area!
... more
0 votes 2 answers Share Flag
Tue Sep 28, 2010
answered:
Christopher,

Taxes have to be escrowed in a 203k loan.
Do you have a 203k lender that you are using? If not I can answer all of your questions and hopefully I can do your 203k loan too. Norristown is 15 minutes down the turnpike and I have done 203k lending there before.

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
267 992 7276
... more
0 votes 4 answers Share Flag
Thu May 6, 2010
Alicia Grier-Lewis answered:
Hello,
If I can be of assistance please let me know. I am a Realtor in the Norristown Area and Short Sale Foreclosure Certified. I work with investors and have access to a number of distressed properties. We can chat and discuss what your particular needs are, give me a call 240 499 6630 or via email akglewis@hotmail.com.
No pressure, no obligation just considered me as your real estate source.

Good Day!

Alicia Grier-Lewis

Realtor, SFR
Coldwell Banker Realty Professionals
610 277 5000 ext 215
www.homes4ubyalicia.com
... more
0 votes 1 answer Share Flag
Mon Jun 15, 2009
Eastnorriton Home answered:
Jessica -
Are you still looking? I am a home owner thinking of selling my twin house in East Norriton. 3BR 2.5 BR 1 car garage. (2100 sq ft) Unfinished basement...
Let me know if you are still in the market.
Thanks
SR
610-239-8988
... more
0 votes 8 answers Share Flag
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