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Main Line Realtor® Discusses Whether Rising Home Prices Should Delay Home Purchases

Should Rising Home Prices Delay Home Purchase? picture of a hand holding out a house and a set of keys

With the current home shortage, prices on homes for sale in Main Line Philadelphia communities are increasing. But do rising home prices mean you should wait to buy? A recent blog by Trulia noted that home affordability is at the highest point in forty years, with the exception of the housing crash in the early 2000s. According to the article, mortgage costs may increase as well, and these play a bigger role in overall affordability than actual home prices.

According to CoreLogic Home Price Index Forecast, rates on home mortgages could rise 6.2 percent year-over-year by February 2019, and mortgage payments could rise up to 13% over the same period. With incomes expected to rise only 3%, homeowners will be spending a bigger portion of their money on home costs.

So affordability is the key. The supply shortage of homes for sale does make finding the right home more challenging and home prices seem higher, but relatively speaking, now is a good time to find your new home. A skilled Main Line Realtor® can help make the process easier. Utilizing the services of a real estate agent who knows the Main Line area, the local market conditions and is committed to finding the right homes as soon as they hit the market, is a smart move that can make all of the difference.

Top 4 Ways a Main Line Realtor® Will Be a Benefit to a Home Buyer

If you are thinking about a new home purchase, you are probably already asking yourself, “Do I Need a Realtor®?” Sage offers four top reasons that you want a great Realtor® by your side in the process.

You Get Free Advice That is in Your Best Interest

One of the best things about having your own Realtor® is that she is on YOUR side. The fees are usually paid by the seller, but your Realtor® wants to get the best deal for YOU. Be sure that your Realtor® is working only working for you and never accept a dual representation situation.

Constant Monitoring of New Listings Will Occur

You have a job, presumably, and will be unable to keep an eye on the popular real estate sites. A Realtor® will be looking constantly and will have access to the Multiple Listing Service (MLS), so she will see listings and information that you have limited or no access to. A local agent will also be well-connected and might hear about some listings before they even go on the market.

Experienced Eyes Will Evaluate the Home for Problems

An experienced Main Line Realtor® will know what is happening in the market. For example, in the Main Line area, stucco can be a cause of concern for home buyers. If you are a first-time buyer, or unfamiliar with the local market, you would have no way of knowing the right questions to ask or issues to look for.

Someone Will Have Your Back in Negotiations

In this sellers’ market, offers have to be competitive, and an experienced real estate agent can advise you on the right offer to win the contract. Of course, if any concessions need to be established, such as having a repair done or radon remediated, for example, a good agent will help you negotiate to get what you need. When the paperwork needs to be done, your Realtor® will guide you through and be by your side as the keys are turned over to you.

With Rising Home Prices, Now is the Time to Find Your New Home

Looking for a home in this market may seem intimidating, but with a skilled local Main Line Realtor®, you have a good chance of finding the home you want. And with rising home prices combined with expected mortgage rate increases on the horizon, now is the time. Sage Realty’s team is committed to helping our clients find the right home for the best price. For a consultation, contact us today!

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Featured Testimonial

I moved to PA from Washington State and learned that realty is local. There were things that I thought I knew about buying a house previously but boy was I wrong. Linda was very patient with me but also did not hold back when she saw potential problems, and always made sure I had all the information I needed before making a decision and didn’t belittle concerns to just get a sale. Above all else, and this was the most important thing to me, Linda has a high ethical standard, is very transparent in her approach and is someone I trusted making one of the biggest decisions of my life. – A. Lindsay (Courtesy of Google)

 

Hear From Our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Hear from our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Sage Buyer Tips

Use Sage Buyer Tips to research the Main Line and stay up to date on real estate news. This online destination is chock full of resources for buyers and sellers: you can see our Main Line communities or explore Sage favorite places. Browse properties here and search other Main Line real estate. With Sage’s advice and experience, first-time buyers and those looking to upgrade can find homes best suited to their needs.