A Philadelphia Main Line Buyer’s Agent Talks About “This Market”

I am a Philadelphia Main Line buyer's agent and I hear "in this market" used in conversation in a thousand ways. Neighbors use it when they tell me why they are not downsizing yet and my buyers say it when they want to put in a lowball offer on a great house. What are they basing this impression on exactly?



News stories at the beginning of the national downturn in real estate were universally focused on new construction and were universally wrong in assuming that pockets of foreclosure problems translated to a local crisis. Dramatic news is designed to grab readers' attention, not to give them accurate information. In the Philadelphia Main Line area, there is little new construction since all the land that is buildable has already been built on. This is less so in the outlying Chester County areas, but still generally true. Further, Philadelphia has as history of very stable housing prices, particularly along its desirable "Main Line" corridor. The things that make housing stable are found here-good transportation, schools, institutions and businesses. Foreclosures have been troubling but at a much lower level than in many other areas of the country. So the basis for the stories was not found here.



As one of the only Philadelphia Main Line exclusive buyer's agents, it is my job to keep tabs on the real estate statistics pertaining to the local area. My buyers need to know if trends are going up or down, if the first-time -homebuyer credit is making a difference and whether they can expect those fabulous appreciation rates to return soon. And my research shows that "this market" is indeed improving.



When I compare last month's inventory accumulation numbers, total days on the market, ratio of asking to sold prices and extent of seller concessions, they show that the last month was a winner in spades over the same month a year ago.



So what does "this market" mean on the Philadelphia Main Line? Maybe ask someone in the business to run some numbers for you. You might be surprised.



Learn more how a Philadelphia Main Line buyer's agent can help you by contacting Linda Walters at Sage Realty 37 West Avenue, Suite 103, Wayne, PA 19087, LindaWalters@SageRealtyLLC.com or by calling 610-687-4000 or by visiting www.FindAHomeinPA.com .