The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.
The index is now at the highest level since April 2010 when it reached 111.3.
According to industry experts, right now is an even better time to buy a home.The extremely favorable housing affordability conditions are a big factor.
****Mortgage rates are at 50 year lows! Home prices have stabilized! Selection is greater than ever!*** After signs of great growth, the fall in prices and the rise in sales activity is a good thing. It shows that buyers and sellers are starting to agree more often on a price. The up swing in sales amid falling prices shows that the market is beginning to work once again, which is usually an early indication that a bottom in prices is starting to form. Many experts believe that the big price declines are behind us. **Home Buyers, as the real estate market changes, you have a better chance to buy at lower prices. Prices are the driving motivation for potential first time home buyers with 85% saying they consider current home prices affordable and 73% citing that taking advantage of current prices is a major factor in their decision to buy. **Home Sellers, in this changing market, now is the time to re-evaluate your home price and marketing. The next thing to consider is the condition of your home. The most saleable homes are those in move-in conditon. If you and your house are ready to sell, move ahead.
Location Characteristics: The area comprising the Main Line was once home to the Lenni Lenape Indians.
The Main Line was settled by Europeans in the 1600s, when William Penn sold a tract of land (the Welsh Tract) to a group of Welsh Quakers This accounts for the predominance of Welsh place names in the area.
The Main Line of the Pennsylvania Railroad was constructed during the early nineteenth century as part of the Main Line of Public Works that spanned Pennsylvania. Later in the century, the railroad, which owned much of the land surrounding the tracks, encouraged the development of this picturesque environment by building way stations along the portion of its track closest to Philadelphia. The construction of sprawling estates attracted Philadelphia elite, many of whom had one house in the city and another larger "country home" on the Main Line.
The railroad placed stops approximately two minutes apart starting with Overbrook. The surrounding communities became known by the railroad station names.
About Jacquie Testa:
I have over 20 years experience buying and selling real estate on the Main Line and the greater Philadelphia metropolitan area. As a Prudential Fox & Roach agent, I have access to the best listings, resources, and support services in the business. Real estate is my full-time job. My clients get my undivided attention and all the advantages offered by a realtor with a successful track record matching buyers and sellers regardless of the market. I get results.
Customizing a search to meet your requirements or listing your home to assure maximum exposure starts the process and the clock on your real estate transaction. Before and after a deal is made, there are countless tasks, inspections and documents to handle. I oversee every task and coordinate each detail with my full service team to ensure that your real estate transaction is financially sound and completed as smoothly as possible. Every step along the way, I protect your personal privacy and handle your business with utmost confidentially. Whether you’re buying or selling or just thinking about what to do next, I am very interested in meeting you to discuss your real estate needs. Call me at 610-608-6886 or complete and send the email below to begin the conversation that could lead to your most successful real estate transaction ever!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
