Main Line Homes Blog


Are home prices really as low as 2002?

Once again, national sales data is not truly reflective of local real estate markets. Plus these reports lag the market, so when the reports are made they are already behind what is happening in the market today.

The Case Schiller Report referenced above is based on sales back in the fall, not even winter. All I know is that in the last two weeks as I call to make appointments I am hearing often, "Sorry, that went under contract this morning."

Valley Forge National Park

Now, prices have definitely dropped, but as I have mentioned before, you can have prices falling on one street and rising on another one block over because of things happening in a neighborhood which have nothing to do with the national market. The same goes for developments, there are some locally where the home owner association fees have risen dramatically as the association realizes they need to tackle some big issues that have arisen and because of this prices are under pressure. Townships, neighborhoods and developments all react to local information not national because people are more engaged with their personal economy not the national economy.

The media would have us all focus on the negative, but we have the majority of people employed and rising, confidence has been rising, and homes sales both new and resale are beginning to rise as buyers decide prices are probably at the bottom and rates whislt they are low and may not rise this year or next make a wonderful opportunity to purchase a home or an investment.

You can choose how you react to this data, with understanding or out of fear which will cause you to stay still, fearing to make a decision, or you can turn to a local Realtor who understands the local market and seek advice. In fact just today I read an blog on Trulia showing 4 reasons why consumers need an agent, worth reading.

In fact all these economists have been making a living trolling out their dire news for the media channels, even though they have been wrong most of the time for the past few years. So, if you want a realistic view and opinion, look locally.

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

  Twitter link  Linked in linkl our blog RSS feed of MainLineHomes Blog

Feel free to subscribe to our blog to stay up to date with our latest posts and information on the Tredyffrin Easttown and Main Line Real Estate Market. 


Comment balloon 0 commentsNick & Trudy Vandekar, 610-203-4543 • February 28 2012 01:14PM
Are home prices really as low as 2002?
Once again, national sales data is not truly reflective of local real estate markets. Plus these reports lag the market, so when the reports are made they are already behind what is happening in the market today. The Case Schiller Report… more
Philadelphia Suburban Home & Garden Show 2012
Every year about this time Oaks comes alive to the sound of hammering as contractors, homebuilders and landscapers prepare for the Suburban Home and Garden Show at the Greater Philadephia Expo Center in Oaks It is a busy weekend up in Oaks, there… more
5 quick ways to improve curb appeal
5 quick ways to improve curb appeal I recently read… more
Endurance Sports Expo this weekend in Oaks
Love running, biking and swimming, are you a triathlon junkie, then the Endurance Sports Expo this weekend February 25 and 26 is probably for you. Being held in Oaks at the Greater Philadelphia Expo Center you will find over 200… more
Berwyn Village Life reveals compassion and community spirit
Living in the suburbs can sometimes make you feel invisible, but village life reveals that just because it is part of a suburb does not mean people are not caring. Berwyn, PA, sits astride the Main Line to the west and north of the city of… more
Just too much choice!
Whilst I could be talking about the inventory of homes along the Main Line for buyers to consider, actually I am talking about where to go for Valentine's Day with your significant other. Every village and town along the Main Line… more
This may just be your Valentine. Open House Sunday 2/12/12 at 160…
I love to sit Open Houses especially this time of year when people are getting out and about to see homes that are on the market. I chose to sit this home at 160 Sheldrake Drive in Paoli, PA 19301 this Sunday from 2-4 PM. It was the model home for… more
Old Forge Crossing Condo news
For those who live here, the condo association fee at first seems high but it covers lots of things. Gas for the dryer, gas for cooking, gas for hot water, water, pool fee, tennis courts, exterior maintenance, trash collection, a club house… more
Berwyn Village, Pennsylvania 2012
One of the things about living and working in a village is that it is always evolving, and Berwyn, Pennsylvania is no different. Straddling two townships, Easttown and Tredyffrin it is a beautiful place. From when you step off the train having… more
Main Line PA Real Estate negotiations
"We do not want to gain at someone else's loss; we want to gain while helping the other person to also gain. " — Jose Silva: Many people today want the first part of the quote above, they want to crush the opposition, take no… more