Welcome to our Main Line Real Estate Blog

You’ll find our Main Line real estate blog to be a wealth of local information, covering everything from local market statistics and home values to community happenings and thing to do in Lower Merion, Radnor, Tredyffrin, and Easttown Townships.. That’s because we care about the Main Line community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 1, 2023

Main Line Real Estate Market - May 2023

The median price of the #MainLine homes sold in May decreased 11% BUT the year to date median is still up 4.4%. The average price in May was up 2.1% compared to last May and up a robust 10% year to date. There were only 116 settlements in May which is 38.3% less than last May and year-to-date sales are down 24.3%. The number is homes pending settlement in May was down 25.8% which will continue to affect the market heading into Summer months. June 1st total inventory vs last June 1st is down 23.9% and there's currently only a 1.8 month supply of Main Line homes on the market. These statistics continue the extremely strong seller's market as weak inventory is continuing to slow the market.


May 2023 Main Line stats

Posted in Market Updates
March 31, 2023

My 3 P's To Sell Your Home For More Money

3 P's

When selling a home, most realtors do what I like to call "the 3 P's", which are: placing a sign in your yard, putting your home in the MLS, and praying.

However, I have a slightly different philosophy around the 3 P’s — I PREPARE your home to appeal to the most buyers, POSITION it correctly in the market, and PRESENT your home strategically to sell your home quickly.

See below to learn more about how I typically net my sellers more money and sell their homes faster using my unique approach.

3 P's

 

3 p's

 

3 P's

Posted in Selling Tips
Feb. 8, 2023

What It's like Working With a Modern Agent

John Flanagan Realtor

As a "modern" real estate agent, I take pride in doing things a little differently than most. I understand that every client's needs are unique, and I strive to provide a personalized service that caters to those needs, and am dedicated to providing an efficient, stress-free, and enjoyable buying or selling experience.

working with a modern agent

Here is how I add value as a modern agent when you buy or sell with me:

⓵ Top-notch customer service: Providing incredible service is a non-negotiable for me. My ultimate goal is to ensure that my clients are satisfied with my service, and I will go above and beyond to make sure they are.

⓶ Utilization of advanced technologies: I use the latest technologies and tools to better serve my clients and make the process of buying or selling a home a smooth and successful experience. From virtual property tours to digital documents, I use the latest tools to streamline the process and make it more efficient for you.

⓷ Revolutionized Marketing Strategies: I use a combination of techniques designed specifically for each property to get the most exposure. This can include a combination of strategies such as home staging, professional photography & videography to showcase your home's best features, targeting specific demographics through online advertising, unparalleled digital marketing strategies on social media, and a more modern approach to open houses to help generate interest and create a sense of urgency among potential buyers.

⓸ Market expertise: I have a deep understanding of the local market trends, property prices, and neighborhood developments, allowing me to provide you with accurate information and advice on how to price, market, and negotiate the sale or purchase of your home, and help you make informed decisions to ensure that you get the best deal possible.

I want my clients to walk away from closing not just happy they have a new home, but thrilled that they have an agent for life that they know they can always count on.

modern agent

#realestateagent #realestatetips #realestate #realestatelife #househunting #realtorlifestyle #homebuyingtips #firsttimehomebuyer #realtorlife

Feb. 6, 2023

How To Start The Homebuying Process

how to start the homebuying process

Thinking of buying a home but don't know where to start? The homebuying process can seem overwhelming, but it doesn't have to be!

I've put together a list of where to start your homebuying journey and a few things you should know before you start looking:

how to start the homebuying process

① Find a realtor you trust (and like spending a lot of time with). It's important to work with an agent who can help you navigate the market and find a home that meets your wants and needs. Your agent will be dedicated to finding you the right home and then negotiating all the terms of the transaction on your behalf. Interview and speak with a few agents before making your decision. Remember—this is the largest investment you will likely ever make, and you want to work with someone you feel comfortable with and trust to guide you throughout the process.

② Find a reputable lender and get pre-approved for a mortgage. Getting pre-approved BEFORE you start your home search is crucial because it helps you get an accurate idea of your budget and what you can afford. A mortgage lender will not only tell you what amount you can borrow, but also your projected monthly payment, your closing costs / downpayment needed, and what to expect throughout the mortgage approval process.

Come up with your non-negotiables list. Your agent can help you narrow down your search by having a clear idea of what you are looking for.

④ Start looking at homes! Once your agent has you set up on a search, you will be notified when anything new comes on the market, including any homes that may be "coming soon". From there, you can schedule showings to take a look at any of the homes that pique your interest and prepare to make an offer.

How to start the homebuying process

Posted in Buying Tips
Feb. 2, 2023

Main Line Real Estate Report January 2023

How was the Main Line real estate market in January? The average and median sales price were flat at 0.6% and 3.4%, compared to last January. The average price last month was $836K and the median was $657K. Low inventory continues to be issue on the Main Line, as it is in our surrounding areas. There were 22% less listings in January and 18% less sales (87 listings and 92 sales). The total sales volume of 76.4 million was down 18.3%. The days on market was unchanged at 36 days.

 

Main Line market update January 2023

Main Line market update January 2023

Main Line market update January 2023

Main Line market update January 2023

Main Line market update January 2023

Posted in Market Updates
Jan. 17, 2023

Signs That You Should Sell This Spring

Sell This Spring

So, you feel like it’s time to move, but you keep asking yourself, is now the right time? After all, there’s so much history packed inside those four walls — not to mention all of your stuff. Here are a few reasons you may want to consider making a move this year...

  • Your home no longer matches your lifestyle.
    You’ve grown—but your home hasn’t. Outgrowing a home is a natural progression in life… are you expecting a child or even another relative? Do you feel cramped during the holidays, or wish you had space to entertain? Do you feel like you’re busting at the seams, or need more storage? Or, are you happy with your home, but wish it were in a different neighborhood or area closer to friends or family? Whatever your situation, if your home and/or neighborhood no longer fit your needs, the time is probably right to sell and find a new place that’s a better fit for your lifestyle.

  • You have some equity in your home.
    Having a strong understanding of your financial position will help you understand if it’s a good time for you to sell. As home values have risen over the past two years, most homeowners have built a lot of equity. If your home’s sale price would be enough to pay off your mortgage and related selling costs and give you enough money to afford a new place that would fit your needs, it could be a good time to put your home on the market.

  • Your home’s upkeep is too much.
    It may be time to consider downsizing if your to-do list seems too long, or you no longer use most of the rooms in your house. If you are looking for a more manageable home, or just want to have more freedom (and less house to maintain), you could benefit from selling and downsizing to a smaller place.

  • A remodel or addition won’t raise the value of your home.
    You’re considering a renovation or adding an addition, but will it increase your value, or price you out of your current neighborhood? It’s always a good idea to determine your future resale value, even if it's down the road.

 

Posted in Selling Tips
Dec. 16, 2022

What To Focus On When Home Shopping

what to focus on when home shopping

So you're starting your Main Line house hunting journey... you've set your budget, gotten pre-approved, and discussed your wants and needs, and now it's time for the fun part — going to see the homes you've narrowed down!

However, the universal truth of home buying is that you will never find a house that has every single thing on your "must have" list. So, when walking through houses, it's important that you try and focus on your list of needs... specifically on the things you cannot change.

To help break it down for you, pay attention to:

Location, neighborhood, and distance from your work, shopping, schools, etc.

  • Yard size and the view / what is surrounding the home
  • Square footage of the home
  • The number of bedrooms / bathrooms, the bedroom sizes, etc.
  • Your non-negotiables list
  • Make sure to look at the condition of major systems like the HVAC and roof (these are not small expenses)

Ignore things like:

  • Seller’s style and decor
  • Clutter and disorganization
  • Poor landscaping

Don't worry about the paint color, and who cares if the house has horrible brass fixtures and ugly carpet? You can change those things in a couple of days, without dropping a ton of money. Try and look beyond the surface, and even the dated kitchen, to see the hidden potential of a home, and you might just check off all of your "must-have" items!

If you're thinking of buying, save this post for later! Have questions about the homebuying process and where to start? Send me a message, I would love to help you get started in your home search!

#mainline #mainlinerealestate #mainlinehomesforsale #mainlinehomes #mainlinehouses #homesearch #homebuying #buyersagent #realtor #realestatetips #realtortips

Posted in Buying Tips
Nov. 10, 2022

How's the Main Line Real Estate Market?

Low inventory and higher interest rates have impacted the Main Line real estate market, but not as dramatically as the media would have you believe. All real estate is local so national statistics make as much sense as national weather. What really counts is what our local market is doing. Studying one month compared to the same month last year offers a limited view of the market, that's why I've included the year to date (YTD) stats as well, to offer a fuller picture. An 5.8% average increase YTD and median increase of 2.2% YTD are slightly lower than the year-over-year stats from the last five years. What's really changed is our lack homes for sale - we're closing 23% less homes this year vs last YTD (that adds up to 450 less houses selling) when less than 2,000 sold last year. This demand is ongoing, even with the sharp increase in rates. The statistics below are from Bright MLS and include the townships of Lower Merion, Radnor, Tredyffrin, and Easttown.

 

 

 

 

Posted in Market Updates
Oct. 21, 2022

Why You Should NOT Wait Until After the Holidays to Sell

Why you should not wait until the holidays to sell

Every year around this time, many homeowners wonder if they should keep their properties on the market or take them off, or if they haven't listed their homes yet if they should wait until after the holidays, or even the spring to put their homes on the market.

If you're wondering whether or not you should wait until the holidays are over to sell, I've outlined a few reasons why you should consider listing your home NOW, rather than waiting until next year:

• People that are looking at this time of year are usually serious buyers • There is generally much less inventory during this time of year so you have less competition • Homes are very cozy during the holidays • There are always people relocating to the area • Increasing interest rates could decrease buyer demand in 2023.

With interest rates on the rise, homeownership is becoming less affordable. So it's likely that fewer buyers will be in the market for a home.

If you're thinking of selling, send me a message. I would love to grab coffee and discuss how I employ evidence-based marketing strategies to sell your home quickly and efficiently, no matter the time of year.

Posted in Selling Tips
Sept. 20, 2022

Questions to Ask at Your Listing Appointment

Questions to ask at your listing appointment

Selling your Main Line home is a big deal and it's pretty important to have the right people around you (yes, even in a seller's market!). A great Main Line real estate agent can market your home successfully and sell your home quickly and for more money.

The listing appointment is YOUR opportunity to interview agents for the job of selling your largest asset. Here are some important questions to ask agents during the listing appointment to make sure you feel confident putting your trust in them.

  • How will we communicate?
  • What is your plan for marketing my home?
  • Are you full-time or part-time?
  • What are your average days on market, and how many homes have you listed in 2022?
  • What do I need to do to prepare my home for the market?
  • What is your plan on pricing my home?
  • Do you work independently or with a team?
  • Will someone cover for you in case of an emergency or a vacation? 
  • What is your historical ratio of list price to final sale price? 
  • How familiar are you with my neighborhood / area? 

Selling your home is a huge financial decision, and the experience can easily become a very stressful situation with the wrong agent guiding you. It's important to find and work with someone you trust, who can make the process of selling as smooth and stress-free as possible (while netting you the most money).

If you've been thinking about selling, send me a message — I would love to interview for the position!

Here are the links for our School District search, with the newest listings first:

Lower Merion School District:
https://bit.ly/LowerMerionSearch

Radnor School District:
https://bit.ly/RadnorSearch

Tredyffrin-Easttown School District:
https://bit.ly/TEsearch

If you have any questions about these listings or would like to see any of them in person, please contact me - 610-256-4435

Thanks,
John

Posted in Selling Tips