Main Line Residential Real Estate 2017 Predictions

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Real Estate Agent with Long & Foster Real Estate Inc 610-225-7400 PA License - AB067198

Main Line Residential Real Estate 2017 Predictions

Main Line Residential Real Estate

Main Line Residential Real Estate all revolves around, well The Main Line, the train line running north west of the city, now called the Paoli Thorndale line, but lovingly referred to by older Main Liners as the R5.

So 2016 drew to an end with every Main Line township suffering from a lack of inventory. The election and lack of clarity about what is actually going to happen moving forward has created lots of uncertainty. But we are seeing plenty of Main Line buyers trying to beat the rising interest rates before they get pushed out of their preferred price points.

As we look forward to 2017 we consult our crystal balls and wonder where we will be at the end of this year. Here are Selling The Main Line's predictions for 2017.

  • Interest Rates will rise slowly throughout the year reaching 5.00%
  • Main Line home owners will consider large extensions over moving
  • The Main Line buyer pool will increase
  • Main Line homes prepared correctly for sale will go under offer quickly
  • Main Line homes not prepared will be on the market a long time and suffer multiple price reductions
  • Main Line Buyers want move in ready homes
  • Lack of inventory for move in ready resales will encourage builders to build more town homes on smaller lots (We are already seeing this in Paoli and Berwyn)
  • Prices for these new construction town homes will be in the $500,000 - 700,000 and higher
  • Larger commercial residential companies will expand with more rental apartments along the Main Line
  • Multiple offers will be more common (so buyers will need strong pre-approval and a game plan to be successful)
  • Prices will slow, but continue to rise
  • Buyers will continue to use Zillow and Trulia to search for homes only later connecting with Realtors who come highly recommended on these sites.

 

For help buying or selling on and around the Main Line contact us today, by phone, text or email and Nick Vandekar will help you take the next step forward. Office 610-225-7400, best line cell 610-203-4543, Nick@VandekarTeam.com.

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

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Ambassador
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Nick and Trudy

This is an interesting list of predictions for the  Main Linereal estate market for 2017. It will be fun to see what happens and how close you are.

I really enjoy your posts about this area since it's where I grew up and spent about 17 years!

Enjoy your weekend!

Jeff

Jan 07, 2017 08:10 AM #1
Rainmaker
2,449,892
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello nick & Trudy Vandekar, Interesting how you wrote around the train, love it.  Hope you are right about interest rates only going to 5%

 

Jan 07, 2017 08:11 AM #2
Rainmaker
602,212
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Jeff Dowler it is always good to see your comments, I bet the area has changed since you were here, we have lived here for 26 years now and the building that has gone on has been tremendous over that time.

Will Hamm I hope I am right on ointerest rates as well, our area really does revolve around the train line and all the different communities that sprung up around it over the years.

Jan 07, 2017 08:20 AM #3
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Nick & Trudy Vandekar - looks like 2017 will be an extension of 2016 for Main Line Residential Real Estate.

Some of your predictions are true in many other parts of our country. Low inverntory will score over the negative effects of increasing mortgage rates.

Prices of new construction - and that too townhomes - at $500K-$700K shows your median price ranges is way above the median price of the country.

One thing I see personally, not many sellers now trust the big Z! (Maybe they did not like their home values drop by about 10% on Zestimate - at least in our area!)

 

 

Jan 07, 2017 08:51 AM #4
Ambassador
3,708,690
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And yes, thanks a lot for entering the 'Crystal Ball' contest Nick & Trudy Vandekar.

Focused on where you live.

Oh yes, the picture of the train station reminded me my days in Mumbai train lines.

Jan 07, 2017 08:53 AM #5
Rainmaker
602,212
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Praful Thakkar thank you for your comments, I used to commute to London every day, so glad to work where I live now. I find most of my buyers use Zillow and Trulia to search for homes, more than other sites.

Jan 07, 2017 11:31 AM #6
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

All very pointed and clear predictions. It sounds like you have an inside track to the future. I think you will be right on.

Jan 07, 2017 01:43 PM #7
Rainmaker
602,212
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Debbie Reynolds thank you, I read a quote recently and felt it really applied to me. I don't know what you are talking about, but whatever it is I've got an opinion and am happy to share it with you. 

Jan 07, 2017 06:34 PM #8
Rainmaker
2,555,257
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nick & Trudy, not sure if our friend  Praful Thakkar  mentioned if you are wrong about any of these predictions hew will deduct points at the end of the year:)) Just kidding, Endre

Jan 07, 2017 09:13 PM #9
Rainmaker
602,212
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Endre Barath, Jr not a problem of these I am pretty confident

Jan 08, 2017 04:54 AM #10
Rainmaker
1,627,506
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Nick & Trudy Vandekar - It looks like "uncertainty," resonated with both of us on the same day and around the same time. I guess great minds think alike. Yet our stories were very different. I really like how you kept it short and to the point, factual about your market area and place where you live. 

This is an excellent entry and report on your community! All the best to you.

Jan 08, 2017 08:11 AM #11
Rainmaker
602,212
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Patricia Feager everybody right now is uncertain about the future, we are all in a wait and see mode. Thank you for the compliments.

Jan 08, 2017 09:02 AM #12
Rainmaker
1,269,145
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

I hope too that 2017 will be better for real estate and the country in general. 

 

Jan 14, 2017 06:22 PM #13
Rainmaker
602,212
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Inna Ivchenko I think it will be but we all need more listings

Jan 17, 2017 07:57 AM #14
Rainmaker
1,269,145
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

It looks like it is happening. Things are changing rapidly these days. 

Without a doubt, 2017 is going to be a year of transition, not only in the political and policy arenas but also within real estate. It is driven by changes in legislative, MLS, and market forces. 

Feb 04, 2017 12:55 PM #15
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Rainmaker
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Tredyffrin Easttown Realtors, Philly Main Line
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