Mortgage rates have been unbelievably low since the recession. Finally, though, they are starting to creep up over 4%. Still very low, to be sure, but higher. So what do higher rates mean? Well, it sort of depends on whom you ask. Some people think that they will drive down the price of homes; if the monthly payment for a loan of the same amount is now more than it used to be, buyers will not be able to afford to buy unless the price of homes falls. Ok, that is a reasonable argument. On the other hand, some real estate experts predict that since rates are still so low, the increase will simply knock out the buyers at the very bottom of the group, not significantly affecting home prices, just marginally reducing the competition. Their view is that prices will remain stable, but volume may drop a little. Still others believe that the job market is improving enough to spur a small improvement in the economy, perhaps enough to offset the higher costs of home loans. As always, economists make various predictions and the rest of us wait and see what actually happens.
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Sleigh Rides Near the Main Line
While Philadelphia and the entire Main Line have been (sadly, in my opinion) devoid of snow so far this winter, we may yet see some of the cold white stuff. One thing I’ve always wanted to do, but never have, is to take a sleigh ride through the snow. Not only do I not own a sleigh, but I never knew of anywhere I could book a reservation to do it. Until now. I recently discovered that, just a few miles north of Valley Forge,there’s a company that offers this service. Collegeville’s Northern Star Farms can take up to 12 people for an old-fashioned sleigh ride, complete with a warm quilt or a traditional buffalo hide (!) to keep you warm. Their sleighs are even equipped with wheels to take you across roads when there isn’t enough snow for the sleigh to do what it was built for.
What You Should Know About Moving to the Main Line
So I took a survey of past clients as well as other transplants to find out what their experience was like when they moved to the Main Line. I asked what they like most and least, what surprised them, what they wish they had known and what advice they had for me as a relocation agent to help me better serve my buyers.
Here are some of the things they liked:
Great schools.
Our public school districts, particularly Lower Merion, Radnor and Tredyffrin-Easttown regularly rank among the highest in the state and even in the nation. Many people who move to the Philadelphia area choose to live on the Main Line largely because of the schools. When you consider that, sadly, Philadelphia’s city school district is rated a 1 out of a possible 10, you will begin to realize why school district matters so much. From great facilities to extensive course offerings as well as robust arts, athletic, computer, and similar programs and amenities, this can be the starting point for some people’s search for a home.
Beautiful stone homes and very pretty, lush landscape with mature trees, winding streets and lovely neighborhoods.
It’s hard to beat the beauty of the topography or the houses.
Safe, quiet and peaceful.
We have very low crime and we have most of our commercial services clustered around Montgomery and Lancaster Avenues, so there are fairly large areas that are almost exclusively residential and tranquil.
Easy to get to NYC, DC and down the shore.
Either by road or rail (or even air), it’s very easy and quick to get to other major cities and destinations.
Easy commute to center city.
Getting to center city, especially from the eastern end of the Main Line is pretty easy, whether you drive or use public transportation (though it does help to have some intel on the “back” roads ways of getting there).
Parks, dog parks and trails.
From the Cynwyd Trail to the Chester Valley Trail with all kinds of parks, playgrounds and preserved outdoor space in between, we do have some great options (and don’t forget nearby Fairmount Park, the largest park within city limits in the country).
Here are some of the things they didn’t like:
Hard to meet people here as many people have lived here their entire lives; there aren’t that many transplants.
It is true that the Main Line, and Philadelphia area in general has what I like to refer to as an unusually high rate of recidivism. It’s true that most people in the area not only grew up here, but their parents, grandparents and often earlier generations did, too. One of the results is that people do, indeed, often have an established group of friends. However, some of the relocators I surveyed discovered that joining local groups (mommy and me, running, book clubs) and Facebook pages like the Lower Merion Community Network page made it much easier.
Not that many areas have sidewalks.
We don’t have a lot of sidewalks. Remember that the Main Line is old, and neighborhoods often grew organically, not according to a rigid developer’s plan, so considerations like that often fell through the cracks. While it is, admittedly, frustrating for people who like to walk or have young kids, many of the streets are wide and flat and drivers here are used to people walking on the streets. Obviously, should you could choose to walk on the street, you have to be more careful than if there were sidewalks. That said, the other side of that coin is that since our neighborhoods weren’t planned communities (like what people often refer to as subdivisions), they don’t have that cookie cutter look that often comes with them.
Many neighborhoods don’t have the walkability to shopping, restaurants, etc. that I’m used to.
Hard to argue the walkability complaint. That’s one reason why the towns that do have a sort of village center are so popular (Narberth, Wayne, Media, for example). When this area grew, services were mostly located along Montgomery and Lancaster Avenues so, unless you live very close to those major roads, you will often find it a challenge to walk to shopping and dining (especially with few sidewalks available). You need to expect to drive if you’re going to live on the Main Line. Period.
It seems like everyone here is rich.
There’s no getting around the fact that there is a great deal of affluence on the Main Line–“old money”, “new money”–yes, there are some very wealthy families. Might you encounter some entitlement? perhaps a little materialism or values you might not share? Sure. But guess what? You might also benefit from the philanthropy that exists here as well for the arts as well as other social causes. There will always be people who are not your cup of tea no matter where you live (unless you live in a completely homogeneous area where everyone is identical to you), so my advice is, no matter which type you gravitate toward, seek out the people whom you can connect with and relate to and don’t waste a lot of time on the others.
Here are some of the things they wish they’d known:
What the deal is with the school districts.
This is one of the most important factors affecting home values and home choice for buyers. In most areas outside of our region, all the kids in a given small town are districted to the same public school system. That is is not the case here. Many towns (Ardmore, Bryn Mawr, Wayne, Malvern) are parts of two or even three different counties (and, therefore, school districts). Because school rankings matter a lot here, the value of a property is greatly affected by which school district it is in. It’s also important if you care about being in a particular district, to be sure that you are not looking at properties which funnel to a different school system.
How high closing costs are.
Yeah, this is just an inescapable fact of purchasing in the state of Pennsylvania. Depending on how you structure your mortgage payment and how high the taxes on a given property are, you will probably spend about 4.5-5.5% of the purchase price in closing costs. That’s right–that money is above and beyond your down payment and, unless you roll it into a seller’s assist (click the link for seller’s assist and scroll to the third paragraph under “Nuts and Bolts of an Offer” to find out more about seller’s assist), it’s cash money (not financeable). So you need to be realistic about what you can afford and it’s best to know about that substantial cost before you define your price range and how much cash you have to put down.
More about what the different neighborhoods were like before buying.
Learning the different personalites of our communities is something I stress again and again to my relo clients and on my website; I even wrote a Guide to Main Line Neighborhoods to try to provide some general background. There are vastly different “flavors” depending on where you are; take the time to visit them and see what suits your family best.
How much the taxes vary from place to place.
I couldn’t agree more. There are certain pockets and some specific townships where taxes are very high. Radnor and Haverford Townships, for example are usually higher than Lower Merion and T-E, but there can be exceptions. Also, new construction in many areas (which we don’t have much of) can also be high. Ask your agent to help you figure out which areas have high taxes.
How old the houses are and that so many need updating, as well as what’s involved in maintaining an older home.
Many of our houses are old and may have the original bathrooms, kitchens that are not updated and typical features of their era like small closets and low-ceilinged basements. Recognize that it’s not cheap to make these kinds or updates, so be prepared financially. If you come from the land of new construction, you might be in for a shock when it comes to maintenance costs for older homes. Replacing an asphalt roof is costly enough, but do you have any experience with slate roofs? What does it cost to replace a boiler or install air conditioning in a house with no duct work? You’ve never considered replacement windows, have you? How about pointing exterior stone? Don’t forget tree trimming and snow plowing, which are unavoidable around here. These kinds of things may be surprises to you; be sure to discuss budgeting for home maintenance with your agent.
I am grateful to all my past clients as well as other transplants who took my survey as it was incredibly instructive to learn what people had expected, what they hadn’t and what, as newcomers, they noticed about the area, both good and bad. I will use the feedback I received to better and more accurately describe the Main Line to prospective relocators so that they can make as informed a choice as possible. No place is perfect, but not everybody is as suited to living in one place as another. So I will take what I learned and try to, as honestly and straightforwardly as possible, pass it along to my clients. If you have anything to add, please let me know!
If you are relocating to the Philadelphia/Main Line area, please go to my blog page and search for posts using the relocation tag. Contact me to discuss your Philadelphia area relocation! jen@jenniferlebow.com/610 308-5973
Moving Day Survival Kit
So you’ve been planning and organizing and packing–just before the day of the move is finally upon you, I’d recommend putting together the “must haves” to reduce the likelihood of (avoidable) frustration on that day. Think about having food and water, chargers for your phone, which you may be using for all sorts of things, tools necessary for unpacking and mundane household devices in the event there’s no power on or a toilet backs up. You’ll also want stuff to clean with and trash bags for garbage. Also consider the weather (need boots and gloves?) and if the heat or a/c is on in your new home. A change of clothes (and toothbrush!) is a good idea, too. Ask friends and family what things they were glad to have had (or wish they had had) when they moved. There’s no teacher like experience! If you’re relocating from afar, you might want to scope out the nearest convenience store, hardware store and a couple of restaurants. See here for more.
If you are relocating to the Philadelphia/Main Line area, please go to my blog page and search for posts using the relocation tag. Contact me to discuss your Philadelphia area relocation! jen@jenniferlebow.com/610 308-5973
The Old Guard House Bought by the Union League
For over 200 years, The Old Guard House in Gladwyne has served as a waypoint for travelers and, more recently, fed and watered local residents–the general public at large. Not anymore. As of the beginning of 2017, it has been sold and taken over by the Union League of Philadelphia. As such, it is now only open to members and their guests and will be the venue for Union League functions on the Main Line. For people who are members, but don’t live in town, the new location is appealing. The previous owners felt it was fitting to turn the ownership over to an organization whose stewardship of the building’s history they could trust–the Union League was founded in 1862 during the Civil War as a patriotic society to support the Union and the policies of President Abraham Lincoln, its mission to honor our country’s leaders (both national and local). It is the oldest of the city unions and its members are proud of its history. From that perspective, its acquisition of another historic landmark seems appropriate.
Top 10 Pizza Places on the Main Line
It seems like, no matter where you go, people have their favorite pizza places and the Main Line is no different. From deep dish to thin crust, you’re sure to find a recommendation below that suits your own individual “pizza style”. A recent poll resulted in the following top 10 list. If you don’t mind driving and parking in Philadelphia, there are many others to be found within the city limits, but the ones listed below are all on the Main Line. Try more than one!
Top 10 Pizza Places on the Main Line
Bala Pizza (Bala Cynwyd) https://www.balapizza.com/
Bella Italia Pizza (Ardmore) http://bellaitaliapizza.com/
Dakota Pizza Company (Wynnewood) http://www.dakotapizza.com/
Jules Thin Crust (Ardmore, Wayne) http://www.julesthincrust.com/menu
Narberth Pizza (Narberth) http://www.narberthpizza.com/
Pica’s Restaurant (Upper Darby) http://www.picas-restaurant.com/
Poppi’s Pizza (Wynnewood) http://poppispizza.com/
Sam’s Brick Oven Pizza (Ardmore) https://www.facebook.com/SamsRestaurantArdmore/
Snap Pizza (Ardmore, Exton) https://www.snapcustompizza.com/
The Couch Tomato (Manayunk, West Chester) http://thecouchtomato.com/
Five Below: A Philadelphia Phenomenon
While this “everything in the place costs $5 or less” store has expanded to several states, it was the brainchild of an entrepreneur who started two other wildly successful ventures in the area (Encore Books and Zany Brainy). The current president and CEO used to run Walmart.com, so there’s definitely someone with some marketing and managing chops running the show. While you may have visited any number of discount stores, it’s the concept behind Five Below that makes it such a great store: the merchandise is specifically selected to appeal to tweens and teens trying to get the most out of their allowance money. Yes, that’s right. The items for sale are targeted to kids ten to twenty who may not have a lot of discretionary income, but would like to be able to come to a single location to find the items they are most likely to want, where nothing costs more than $5.00. Whether it’s gag gifts, school supplies, craft kits, joke books, tech accessories, t-shirts, make-up, room decor (think lava lamp) or something seasonal (like a headband with reindeer antlers), they know they can leave the store with a purchase. It’s a great place to take a kid for a “you did a great job, why don’t you pick out something for yourself” reward, or a “yeah, that trip to the dentist DID stink, but you were brave” treat or a “let’s just bring your cousins something small to thank them for having you” gift. If you’re new to the Main Line or Philadelphia area, you’ll find several locations nearby. My advice is to do a recon visit so you understand what all the hoopla is about. I would be willing to bet you walk out with something, too.
If you are relocating to the Philadelphia/Main Line area, please go to my blog page and search for posts using the relocation tag. Contact me to discuss your Philadelphia area relocation! jen@jenniferlebow.com/610 308-5973
The Piano Guys Play One Piano
With all of the electronic enhancement that is available and (in my very humble opinion) overused in music production, I am so impressed by the Piano Guys’ ability to be musically creative without relying on anything but a single instrument. When you think about how a piano is made, you realize that the keys are actually connecting to strings. So is a piano a stringed instrument? Well, yeah, in a way. And can’t you “thump” the wood that holds those strings taut? So now it can be in the percussion section, too, right? See an example of them here and let me know what you think. If you like Christmas music, their version of Angels We Have Heard on High is hard to beat.