OK, so foreclosures could hit 3 million this year, the homebuyer tax credit has expired, and home sales are down across the country. However, for a couple of lucky areas, the housing market is unaffected.
“The Main Line is a very stable market; it’s holding its own,” says local RE/MAX agent Betsy Zeitlin.
Other agents agree.
Local realtors explain that some people are nostalgic and want to return to the place where they grew up, or they are lured by the proximity of Philadelphia and other cities. Others are driven to buy on the Main Line because of the strength of the school systems. Still others appreciate the variety of occupations in the area, says real estate agent Bill Cook of Prudential Fox & Roach. Even if a certain field suffers a layoff, there are so many other types of jobs that the area itself won’t suffer.
1. Price your house correctly! Pick a good realtor to help you. He or she will have the most knowledge of the current local market and help you get the best price quickly.
2. Price competitively. Don’t start high because this will mean your house will be on the market longer and will reduce your chance of selling.
3. Update your house. Houses styled in the ’70s are often harder to sell.
4. Clean your house. No one wants to buy a house after they’ve had to wade through someone else’s week-old laundry.
5. Fix things. The more problems a buyer sees, the more problems they’ll imagine are there that they haven’t seen!
6. Make a great first impression. Cut the grass, plant some flowers, and put away the toys. A little TLC goes a long way.
1. Pricing a house too high. Buyers don’t want a house that has been on the market for a long time. They assume something is wrong with it. Decrease your chance of a long-market stay by pricing your house at a reasonable amount.
2. Trying to haggle with a potential buyer. This is not necessary, no matter what you have done in the past. If the buyer thinks it is a good deal, they will close right away.
3. Listening to family and friends about the value of the house. Despite all of the memories and good times that were had in your home, it is still just a house. Talk to a third person who really knows the market like a realtor.