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October 2016
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October 6, 2016

901 N. Penn St. ~ Peninsula Building now FHA approved!

Filed under: For Buyers,Of Interest to Buyers — Center City Philadelphia Real Estate Agent @ 11:04 am

Waterfront Square

Great news! We just received word that The Peninsula Building at Waterfront Square has been approved for FHA Financing!


As you can see, the Reef Building has also been approved. This is great news for Waterfront Square! The approval is valid for 2 years.
FHA insures condominium single unit loans for up to 30-year terms to purchase or refinance a unit in an FHA-approved condominium project.

For more information about FHA condos, click here!

Mark Wade
BHHS Fox & Roach Realtors
530 Walnut St. #260
Philadelphia, PA 19106

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September 27, 2016

Rising home prices, quick sales – Philly’s in a sellers’ market (Mark’s Two Cents on

Filed under: Center City Real Estate,General Real Estate,Of Interest to Buyers,Real Estate: Condominiums,State of Marketplace — Center City Philadelphia Real Estate Agent @ 9:54 am

Alan J. Heavens,’s Real estate writer says, “The city of Philadelphia is officially a sellers’ real estate market, as a continued shortage of inventory has pushed up prices for properties listed for sale.”

Economist Kevin Gillen, senior research fellow at Drexel University’s Lindy Institute for Urban Innovation, said the second quarter of 2016, which ended June 30, saw median prices 13 percent higher than April-through-June 2015.

…Gillen isn’t exactly sure why homeowners aren’t rushing to list their houses, but Mark Wade, an agent with Berkshire Hathaway Home Services Fox & Roach Realtors, cites several factors.

Mostly, it is “because many buyers in town over the last few decades have been empty nesters who believe they have made their final move and don’t need to downsize or adjust their living quarters to match their future needs,” Wade said.

The “flip side of rising house prices is decreased housing affordability,” Gillen said.

“Prices are now rising faster than household incomes, which implies that home buyers must now sacrifice a greater portion of their wealth to buy a home than they would otherwise, or else must defer the purchase of a home altogether,” he said.

Click here to read the full article on

Mark Wade
BHHS Fox & Roach Realtors ~ 215.521.1523

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September 21, 2016

Top Ten Philly Condos

Filed under: For Buyers,General Real Estate,Real Estate: Condominiums,State of Marketplace — Center City Philadelphia Real Estate Agent @ 10:41 am

In terms of value retention, resale ability and livability…Here are my latest top ten picks:

Waterfront Square

1) 1706 Rittenhouse at 1706 Rittenhouse St. – – There can be little doubt that the building shines in terms of value growth and demand. The highest of high end here in Center City. Buyers line up for these units- Who wouldn’t want to live at 1706 ??

2) Kahn Park Place at 1119-25 Pine St.– Parking, roof decks and nice interior space…at prices that I think are undervalued. Homerun! Location is key here as well. Interior condition drives the wide range of values here.

3) Washington Square West Condos on the 12xx Block of South St. – Solid investments in a high growth area. Oh, and all have parking and two bedrooms! You can’t beat these simple yet value driven condos. Boom!

4) St. James Court in Society Hill – 40 years old condos with interiors that clearly stand the test of time. Undervalued and best deals in the 19106 zip code. Most units are off street and quiet. Interior courtyard is picture perfect. You can’t beat the prices in this segment in my opinion.

5) The Coronado at 2201 Chestnut St.– Improvements to the building make the investment here a solid one in terms of value growth. And in the 19103 zip code to boot.

6) The Lenox at 250 S. 13th St.– Not unlike 2201 Chestnut Street in the fact that it is a pre-war styled condo building that has undergone many recent upgrades and improvements. Since the Parker across the street closed- are values poised for a significant bounce upwards? Probably.

7) Center City One at 1326 Spruce St. – If I had millions of dollars, I would probably spend most of them inside this building if I wanted to make money.
Try to beat the location and the floor plan of the two bed, two bath units.
No supply here.

8) The Philadelphian at 2401 Pennsylvania Ave. – Values for the larger units bounced higher and faster than any other segment in Center City. Many reasons which can be attributed to the association…and lack of supply didn’t hurt either.

9) Low Rise Condos in 19103 and 19107– Perpetual demand leads to a shortened “days on market” for many in this segment. Solid purchases and solid returns. And those near Jefferson and U of Penn have a double good whammy- which is huge rent-ability.

10) 2200 Arch St. Condos at 2200 Arch St. – Probably the quickest sales in the loft like segment here in town. Parking, close to jogging trail and in the 19103 zip code. This place is firing on all cylinders.

Honorable Mention:  The Reef Building at WaterFront Square 901 N. Penn St. – Just about 6 units remain and the values are climbing faster than most other buildings around town. Expect another bump in values when the building completely sells out. Philadelphian’s are warming to the idea of living in this lovely gated community. Though I am biased…We own and live here.

Mark Wade
BHHS Fox & Roach Realtors
215.521.1523 |

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September 17, 2016

Some Basics on Buying a Condo (Read Mark’s Two Cents on

Filed under: For Buyers,General Real Estate,Real Estate: Condominiums,State of Marketplace — Center City Philadelphia Real Estate Agent @ 8:34 pm

“Once you decide on a location, the next step in your search for housing is determining whether to rent or buy.” Real Estate Writer, Alan J. Heavens then said, “If you decide to buy, the next question is what.  A growing number of Americans are choosing condominiums, especially in urban areas.”

Mark Wade, of Berkshire Hathaway Home Services Fox & Roach Realtors in Center City, said there are three main reasons buyers give when opting to buy a condominium: “one-level living – absence of stairs; a lack of maintenance requirements; and the security of a 24-hour front doorman.”


“Many younger buyers are attracted to condos because they are so consumed with their careers that they simply don’t have the time or energy for the needs of a single-family home,” he said.

Many empty-nesters are looking to rid themselves of the upkeep that a larger single-family home may require, Wade said.

“The trade-off between a single-family home and a condo is usually location and size,” he said.

Condo living affords buyers the opportunity “to lose up to a few thousand square feet of unused, unwanted space, or perhaps three unused bedrooms – quite a weight lifted for those looking to simplify their lives.”

Click here to read the full article on

Mark Wade
HHS Fox & Roach Realtors

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May 9, 2016

1326 Spruce #2001

Filed under: Center City Real Estate,For Buyers,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 12:26 pm
Vacant for nearly 25 years. A high floor condo at Center City one 1326 Spruce St.
Delightful skyline views of this two bedroom, two bath condo with PARKING.
Original condition condominium with fantastic floor plan/layout. Being sold AS-IS.
Asking price is $475,000   A rare opportunity indeed!
1326 Spruce Street 2706-5846KateDevlin2016_1326_Spruce_St_MW-1
Mark Wade

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April 4, 2016

My View/ Experience /Expertise at The Hopkinson House (604-36 S. Washington Square)

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 3:00 pm


My good friend Tom who introduced me to Center City in 1987 told me that the “Hop House” was known as one of the best values in downtown condo living. Ask anyone today and I think they will repeat that assertion about The Hopkinson House. I call it “The Toyota Of Center City Values”….reliable, dependable, and an easy resale if you need to sell your condo at 604 S. Washington Square. Since that time we have sold probably close to a dozen units at Hop House- And I always find that demand outweighs supply- especially in the spring market when the med students come into town and want proximity to Jefferson Medical Hospital.
My brother and I used to own a unit in the building which we flipped…and I think the management is a strong attribute to the appeal of the building (many of the very friendly front door staff is still around after 20 years). Know that all the corner units in the building are two bedroom units (unless modified from the original plan by individual owners) and a portion of the two bedroom units are 1.5 baths- HOWEVER, those units can be modified and made into TWO full bath units.
All units face either North or South- And I honestly have never found there to be a preference in terms of resale ability, or demand. South units have great sun and the higher floors have killer river views. The North facing units at The Hopkinson House have great views of Washington Square park. The Heat and Central Air are supplied by the building and I believe is done so via a TWO PIPE system, which means the Hopkinson House dictates when the condo building as a whole switches from delivering heat to delivering central air. The condo building does not allow dogs- though they do allow cats. Rental parking is in the lower level, so no one owns parking at Hopkinson House. I have had parking in the building on a monthly basis for a few years as our office is very close- staff is very friendly and helpful. Management is tops in town and really couldn’t be any nicer. A small but well-stocked food market is on the first level of the building and hailing a cab from here is never an issue. Oh, and there is one Kick-A** pool on the roof which rocks! 🙂
The condo association has recently upgraded their hallways (which is a huge visual improvement to the common areas), and has replaced all interior windows and sliding glass doors to individual condo units. What I find interesting is that 604 S. Washington Sq. has more Realtors who live in the building than any other condo building in town- And I think that speaks volumes. One other thing I know is that a TON of info about the building can be found publicly on their condo’s website, which many folks find helpful. Know that I have a number of friends, colleagues, and past buyers who live in the building- So my current clients should contact me if they want additional insight into the “Hop House”.

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March 28, 2016

New construction affecting views?

Filed under: Center City Real Estate,For Buyers,For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 11:20 am
So there has a image1been a lot of talk recently within my circle of condo buyers in town about how the views of south facing units at the Ritz Carlton will be affected by the new building being erected to the south.
This really only affects “A” units at the Ritz which face south and east. I was able to find an image showing what the views might one day look like.
In my opinion, when that new building is erected and buyers can actually see that it will be some 53 feet in distance from the Ritz- the effect on value(s) for the south facing condos will really not suffer a great deal.
I think the “unknown” may be more damning that the reality of what is going to be built.
My suggestion- throw some caution to the wind and look at the “A” units while you can and while their pricing may be a bit suppressed by the “unknown” element – that being partially blocked views.

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March 7, 2016

Here are a few staggering facts about our 2016 market here in town-

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 10:40 am

Monthly Statistics for the Date Range Selected


Units Listed

Listed Volume

Listed Average


Units Sold

Sold Volume

Sold Average

Average DOM

Mar 2016









Feb 2016









Jan 2016




























Inventory Accumulation for the Last 12 Full Months






Current Inventory *

Inventory Volume

Current Average

Average Monthly Sales**

Inventory Accumulation ***






*Current Inventory is based on the actual available properties on the date this report was created.

**Average Monthly Sales is the average sales for the last 12 full months

***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales



Pricing Details of Sold Units for the Date Range Selected

Minimum Prices

Maximum Prices

Average Prices

Original List Price : $1,400

Original List Price: $2,750,000

Original List Price: $443,083

Sold Price : $1,300

Sold Price: $2,600,000

Sold Price: $414,294



Inventory Accumulation figures are only calculated when Report End Month is the current month 

Market Statistics Criteria Used

Date Range: 1/2016 to 3/2016
Price Range: $0 to $9,999,000
Property Category: Residential
Area: 19102

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February 29, 2016

Update on The Ellington Condos at 1500 Chestnut. Always has been a well managed buildling- See for yourself:

Filed under: Center City Real Estate,For Buyers,For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 10:12 am


Last year the building completed two (2) major capital improvement projects:  1) They replaced our air-conditioning cooling tower up on the roof; and, 2) They did a complete tear off and replacement of the main roof.   (no special assessment necessary).

Also, last fall, they got a new commercial tenant in the 8,000 s.f. basement space – the Philadelphia School of Massage and Bodywork (check it out – )    It’s the only massage school in Philadelphia.

The Board and management are working on another huge improvement project which is to completely upgrade the building’s heating and air-conditioning system.  While the actual work may not begin for 2-3 years from now, they are working with engineering firms to determine the best method for reducing their energy costs.

“Miss Ellie” still mans the front desk with her effervescent smile and gracious caring demeanor.  Just about everyone on the staff has been here 8+ years and they continue to work together as a great team with a common goal – making the Ellington the safest and most well-kept vertical housing community in Center City!

To Which I say: Touche- Ellington Mangagement!!

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February 25, 2016


Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 11:32 am

Check out this 1999 Article on Mark’s Society Hill Rehab Featured in the Remodelers Show !



It’s More Than Just For Show Mark Wade, Who Buys, Guts And Rehabs Properties In Center City, Was Handpicked To Produce A Model Home For A National Show. Eventually, It Will Be Someone’s $1.25 Million Residence.

POSTED: November 07, 1999

Eleven days till the deadline for completion, and the house on South Third Street in Philadelphia had a long way to go.

Dust was everywhere. Drywall was waiting for primer and finish coats. There were holes in the walls where state-of-the-art security and electronic technology were destined to be installed. The rear courtyard had a crying need for sod.

At the front entrance, Mike Chobert, a painting contractor from the Queen Village neighborhood, was good-naturedly lecturing John Gall on the finer points of stripping the ancient Colonial-style front door.

In the deep shadows of the third-floor bathroom, Ed Mattio, a third-generation plumbing contractor from Queen Village, deftly connected the hot and cold water lines to the pedestal sink without the aid of electric lighting, stopping only to praise the new-age plastic pipe he was working with.

Across the hall, in a bedroom filled with sunlight from Third Street, the developer, Mark Wade, and his Germantown-based general contractor, John Fries, talked details as Fries wolfed down the sandwich he had brought for lunch.”

Click here to read more! 

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530 Walnut Street, Suite 260
Philadelphia, PA 19106
Direct: 215.521.1523 ~ Office: 215.627.6005
Fax: 215.627.3142
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