Lower Main Line Living - Siobhan Cooney, Main Line + Philly Real Estate

09/23/2024

👍 Comment “Budget” to grab a free copy of my home budget worksheet.

Siobhan Cooney | Main Line Philly Real Estate | Compass RE

09/22/2024

Millennials are here, and they really, really want to buy real estate! 🏡

Swipe for my take on what Millenials often want in a home. Millennials, do you agree?

🚀 DM or comment “GUIDE” for my home-buying checklist for Main Line & Philadelphia area buyers, or hit the link in my bio.

Siobhan Cooney | Main Line + Philly Real Estate | Compass RE

09/22/2024

If there's one thing I know about sellers ... they love having multiple offers on the table.

Listing strategies that generate multiple offers mean sellers have more options and more negotiation leverage.

One strategy for generating *the most* interest in your home: offering some concessions up front to the buyer.

Reach out with questions or schedule a free, no-obligation consultation:

👉 calendly.com/siobhan-cooney

Always on your side,
Siobhan 🫶

Siobhan Cooney | Main Line Philly Real Estate | Compass RE

09/22/2024

They finally did it.

For the first time since March 2020, the Federal Reserve just cut their rate by half a point, officially marking the end of an era of aggressive rate increases. During the period of rising rates, we saw:

* Mortgage rates peak at nearly 8% last fall
* Home sales fall to levels not seen since 2008-2010
* Housing affordability hit a 40-year low

Mortgage rates had already begun to dip before the Fed’s announcement, and they are expected to continue to decline over the next 12 to 24 months as the Fed makes further cuts. Mortgage experts predict rates may fall to the mid-4% range, depending on economic conditions. (Yes, I said mid 4s). We are currently sitting around 6.2%.

As mortgage rates fall, more buyers will likely re-enter the market, and we may see more homes listed for sale.

But … just how much will home values rise as interest rates fall? It all comes down to supply and demand. If rates drop into the 4s next year, I believe we may see activity on the Main Line (and in other high performing Philly suburban school districts) similar to the fast-paced market of 2021. All of that pent up buyer demand from 2023-2024 has to go somewhere.

🏡 Questions about what it all means for your unique circumstances? Schedule a call:

👉 Calendly.com/siobhan-cooney

09/19/2024

Ready. Set. Go. 🤪

Comment “Seller” to receive my free Ultimate Guide to Selling Your Home! 🏡

09/19/2024

Did you know? 🏡

There’s a reason homes on the Main Line are so dang expensive.

Comment “GUIDE” for my home-buying checklist for Main Line & Philadelphia area buyers, or hit the link in my bio.

09/19/2024

✨Comment “Wayne” for more details on this beautifully updated home in the heart of Philadelphia’s Main Line ✨

This absolutely stunning, move-in-ready home is ready for its next owner! 🏡

Would you believe this home was built in 1993? It looks and feels like new construction with extensive updates and improvements. 💥

The abundance of natural light throughout is a BIG plus for me! Perfect for plant lovers and sunny dispositions 🌞🪴😊

🛏️ 8 bedrooms | 🛁 6 full + 2 half baths | 🏡 8,113 sqft

🖤 Italian marble & hardwood floors
🖤 Thermador appliances
🖤 Sonos sound system
🖤 Lutron Caseta lighting
🖤 3 car garage
🖤 Multiple spaces for entertaining — including a spacious back deck overlooking a large, flat yard — and a walkout basement with a bar, media room, and wood-burning fireplace
🖤 New roof
🖤 Close to shops, cafes, parks, Wayne Art Center, Radnor Trail, and more

✨Comment “Wayne” and I’ll DM you allllll the details ✨

Listing courtesy of: John Michael Oleska & Lavinia Smerconish, Compass RE 🙏

Massive shout out to for help shooting and editing this video! 🎥

Siobhan Cooney | Main Line Philly Real Estate | Compass RE

09/12/2024

"How will we EVER find a home when there's nothing for sale?"

Low inventory markets like the Main Line call for a little creativity and a lot of hustle.

Here's what I do for buyers in a lower inventory market like the Main Line–

1) Set up clients on a Compass search that will bring up Compass Exclusives that meet their criteria.

2) Send letters to homes and neighborhoods of interest. Snag those homes early before they hit the market!

3) Reach out to expired listings. They were interested in selling once. They may become interested again.

4) Go easy on search parameters. For the right family, a three-bedroom plus bonus room home may function like a four-bedroom. Likewise, a half bathroom might be converted to a full bathroom, and a basement might be finished for more square footage. Staying flexible is the name of the game.

If you want to talk more about buying, DM me! I’d love to connect with you.

Siobhan Cooney | Main Line Philly Real Estate | Compass RE
📩 [email protected]
📲 Call/text: 267-250-2800

09/09/2024

🤍 Thank you, thank you to my friend and superwoman for the new branding photos!

Every time my daughter saw one of my older ones she said, “Mom, you don’t look like that anymore!!” 🫠 😂 😬

Who knows where these pics were taken? 🙋‍♀️

09/06/2024

Happy Friday! The fall market has officially begun here on the Main Line. 👍 🍁 🏡

Heading into this weekend, we have the following homes listed in Active or Coming Soon status, with more listed as Compass Exclusives:

Lower Merion SD: 110 homes https://tinyurl.com/4jsndew6
Radnor SD: 60 homes https://tinyurl.com/yf8m9296
Tredyffrin-Easttown SD: 49 homes https://tinyurl.com/mtjupjv7
Haverford SD: 51 homes https://tinyurl.com/2wx6tz4z

If seasonal patterns hold, we can expect a slight uptick in new listings through late October. Then, new listings will taper off as we approach the winter market.

Inventory in 2024 has been much like 2023. It has been limited but on a slight upswing over last year. My guess is that market activity will pick up as interest rates fall, more buyers re-enter the market, and more homeowners decide to trade up, trade down, or relocate.

Only time will tell how low rates will go and whether and how much home values will increase. According to Morningstar, the futures market is pricing in almost two full percentage points of cuts between now and July 2025.

If rates continue to fall, sellers will do very well in the spring 2025 market. If you can buy now, I would suggest you do it. We may look back on fall 2024 and wish we could still buy at these prices.

09/04/2024

Here’s the secret: it's not magic; it's strategy. 🏡✨

Always on your side,
Siobhan 🫶

08/31/2024

Upper Merion Township was just named the #2 place to live in the US for families!

Upper Merion is very affordable (relative to Lower Merion, Radnor, Tredyffrin, and Easttown Townships to the south + Colonial School District to the east) with good access to jobs, restaurants and retail, outdoor recreation, and health care.

If anyone is looking to buy for home value appreciation potential, I think Upper Merion is a solid choice.

(I have some other thoughts on areas likely to appreciate in the next 5-10 years for anyone who's interested.)

Our third annual list highlights the best place to live in each of the 50 states.

08/17/2024

Whewwww. The rental market in Lower Merion is hottt 🔥🥵

I’m so happy I could help these nice folks lock down a long-term rental they love. They beat out five (yes, five) other applicants for a beautiful home on a quiet street in the Shortridge area of Wynnewood. 🌳 You feeling that heat?

Many thanks to these clients for the lovely Google review, and so much gratitude to my past clients who referred them to me. 🙏🫶 I’m always glad to serve your referrals.

Siobhan Cooney, Main Line + Philly Real Estate 🖤 Compass RE
📞 267.250.2800

08/12/2024

Can we be honest about buyer agency agreements?

They have always been a good thing, and agents have used them for a long time in PA and some other states.

The main difference with the new rules is that a buyer agency agreement needs to be signed *before showing a house* to a buyer, or agents can face stiff fines. In the past, many agents chose to wait until the buyer signed the first offer to purchase a home, and the buyer then signed the buyer agency agreement at the same time.

If the thought of signing a buyer agency agreement scares you, I suggest interviewing at least a couple of buyer’s agents before deciding to sign on with one. You can also ask initially for a short contract length - maybe seven days - to get to know each other better.

Here’s a pro tip you will not find elsewhere: Buyer’s agents are BUSY in hypercompetitive markets like the Main Line. Agents will allocate more time and effort to the clients they feel are committed to them and less time and effort to anyone sitting squarely on the fence.

Comment “GUIDE” to receive a free copy of my Homebuying Checklist and Timeline crafted specifically for Main Line + Philly area home buyers.

DM me or hit the link in my bio to set up a complimentary buyer consultation.

Share this post with someone you know who is just starting the buying process!

Always on your side,
Siobhan

07/23/2024

Is there more uncertainty in the housing market because it's an election year? 🤔

I have my anecdotal evidence, but here's what the trends over time show ...

I'm curious to know your thoughts! 🇺🇸

07/16/2024

What I would tell myself if I were house hunting right now ...

What matters most:
✓ Structural integrity: I'd look for a home with a sound foundation, roof, and well sealed exterior.
✓ System ages: I’d find out the age and maintenance needs of systems like HVAC, roofing, electric, and plumbing.
✓ Neighborhood fit: Finding the right neighborhood is key. I love chatting with my neighbors and taking my dog for walks in the neighborhood.
✓ Location location location: Proximity to a downtown area would be super important. I already spend a lot of time in my car ... why add to it with a long commute to basically everything.
✓ Functional layout: I’d look for a floor plan that complements my family's lifestyle, knowing that in some cases we can make modifications.
✓ Growth Potential: A home that can adapt to life - I'd be looking at extra rooms or flexible spaces for kids or guests. I would love a finished basement!

What matters less:
✓ Current decor: Wallpaper, paint colors, and carpets are easily changed. I’d look past the cosmetic aspects.
✓ Furnished vs. unfurnished: Furniture arrangements and styling are personal choices that I can make later. (I try to imagine in my mind every room as a blank slate, with the seller's furniture taken out of it.)
✓ Landscaping: While curb appeal is nice, it’s the lot, not its current state, that matters more.
✓ Light fixtures & hardware: These are simple, relatively inexpensive changes that won't deter me from the right home.
✓ Appliances: While shiny and new might be appealing, appliances are replaceable and don't make or break a home’s value for me.

Give me a thumbs up if this is helpful!

Always on your side,
Siobhan

07/09/2024

Who's stuck in a love-it-or-list situation in a too-small, too-inconvenient house? 💁‍♀️ I know I often feel that way.

Since we bought our Narberth home in 2018, it has at times felt small, disorganized, and lacking in storage space. Our kids are getting older and have more opinions about what stays and goes, my husband and I are both working from home often, and rooms constantly need to be changed up to serve different different purposes. I would consider upsizing but love my neighborhood too much to leave. 🫶 So, I'm working with a local designer to make changes to the space.

Tell me, what are the pain points in your current home? I might have some recommendations for your love-it-or-list-it sticking points.

07/04/2024

We are - as they say - down the shore. 💙

Happy 4th, my friends. 🇺🇸

06/27/2024

A break from your regularly scheduled real estate programming 🫶

06/21/2024

Grab my free Housing Budget Calculator 👇👇

If you're buying in the next 12 months, it's a good idea to map out what you can comfortably afford. 👍

Check out the link in my bio or head to:

tinyurl.com/HousingBudgetCalculator

Always on your side,
Siobhan 🫶

06/18/2024

With all due respect to agents who operate at scale 🤍

I prefer to go deep with each and every client. What that looks like ⬇️

👍 Taking time to really understand their hopes and dreams

👍 Letting them know early on that I'm their go-to resource - no question is too big or too small

👍 Explaining every single step of the process - whether this is their first rodeo or not - as many times as they need

👍 Presenting pros and cons at each decision point

👍 Analyzing and presenting key market data to help guide decisions

👍 Customizing marketing plans to go outside of a one-size-fits-most approach

👍 Problem-solving tricky situations alongside the client and calling upon other agents, my broker, title companies, and lenders for input whenever needed

👍 Physical presence at listing photos, contractor visits, open houses, showings, inspections, appraisals, final walkthroughs, settlements

👍 Documenting each client's customized under-contract-to-close-process with a detailed timeline

👍 Reviewing draft and final numbers before settlement

👍 Support that continues after closing, for as long as I'm needed

If you have ever *loved* working with a real estate agent, tell me about it in the comments!

If you are thinking of buying or selling on the Main Line or in the greater Philadelphia area, I'd love to chat! DM me or set up a time that works for you here:

✨ Calendly.com/Siobhan-Cooney
.. And a huge Thank You to a recent client for the lovely Google Review 🫶