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April 2010
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April 27, 2010

The Hawthorne Loft Building

Filed under: Center City Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:02 pm

With 54 units priced from $149,900 (which includes parking!) and 17 floorplans, the Rufo Organization has put together a sure fire winner with this new condo conversion (from an old school house) on the corner of 12th and Fitzwater. Stainless and Granite kitchens with tumbled marble backsplash, original wood flooring on main level of units, along with high ceilings, and a quality of finishes not foundin many $500,000 condos, the building is sure to be one popular option in the Center City condo market.

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Hawthorne Lofts boast a common roof deck, large oversized on-site gym, parking, tax abatment, low condo fees, and a very strong visual interior and exterior look. All located between Bainbridge and Fitzwater Streets.

Open house every Sunday from 11-4pm. Stop by and see what $149,900 will buy ($129,900 if you don’t want the parking space!)

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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April 20, 2010

Just Listed! Gorgeous Townhouse with Lovely Landscaping

Filed under: Center City Real Estate,Of Interest to Buyers — Center City Philadelphia Real Estate Agent @ 3:40 pm

Some Center City real estate looks good on paper, but not always in person.

And no, this is not a new listing of mine. And yes, that is a swinging couch.

Looking for a Philadelphia realtor who will “Call them as he sees them?” Give me a call, and let’s see all that Center City has to offer…

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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April 13, 2010

What is a Special Assessment in Condominiums?

Filed under: Center City Real Estate,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 2:20 pm

Put simply: If the condo association wants to replace all the windows in your Center City condo building, and they don’t have the money in the bank to pay for it up front, they will bill every owner an amount to pay for the improvement. They do this via a special assessment. That is why it is important to look at the overall condition of the Philadelphia loft or condominium building in which you might be considering a purchase. 

Deferred maintenance issues are paid by the owners of the condo association. Does your building need a new elevator?
Something to think about……

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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April 8, 2010

Are you Grinding too fine in terms of asking for home inspection repairs?

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 11:25 am

Here is my advice…

So you found the perfect condo, and you have had your home inspection. Now is the time to decide what you are going to ask the seller for some help in getting some repairs done. You are free to ask the seller for whatever you want. Go ahead…ask away.  However, it may not be in your best interest to “Grind Fine”….

    
For instance, lets say the heater doesn’t work. Of course you are going to ask that the seller address this issue. Repair? Replace? Each case is going to be different. But should you ask the seller to perhaps Spackle nail holes in the wall here pictures were placed? Or how about asking the seller to scrub the grout lines on the bathroom floor? These may sound silly, but I have seen buyers ask for such minor fixes. I suggest to buyers that they focus on the bigger picture. Look at defects and shortcomings that may affect your perception of the value of the given condo you have “under agreement”.
    
If you buy a used car, you can expect the carpet to be less than BRAND NEW, and perhaps the trunk needs a new $12 floor liner. Maybe the windshield wipers need to be replaced. Oh, and that scratch on the front bumper? Included free of charge! 🙂  Would you ask a seller to repair these minor issues? Probably not.  A little forgiveness can go a long way when it comes to Philadelphia real estate. Target the big ticket items, and let the bump and scratch issues go. A lot of these minor cosmetic items fall under what I call “Home Ownership 101” issues….and generally speaking, a seller will not respond favorably to your mini requests for compensation. So set your expectations for your new Philly condo realistically, and good luck!

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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April 2, 2010

Philadelphia Phoenix Condos Auction

Filed under: Center City Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 10:34 am

Which units are the most valuable? Which will be in demand?

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On April 29th at 7pm the action starts! Thirty-Six Phoenix condos will hit the auction block. We are excited and look forward to playing a major role in the auction of the condos at 1600 Arch St. in Center City Philadelphia.
 
PLEASE KNOW THAT if you are looking for buyer representation from our group of experienced Center City Condo agents, you MUST visit the property with us on your first visit!  We successfully represented over 10% of the buyers at last year’s Murano Condominium Auction! No other realtor even came close!
 
With prior sales experience at the Phoenix condos, we believe we can help you with your potential purchase. Please know that values in the Phoenix are NOT solely contingent upon the size of the unit- MANY OTHER FACTORS WILL PLAY INTO THE VALUE OF THE CONDOS BEING AUCTIONED!
 
For instance, floor height, interior condition, and view HEAVILY influence the value of the units at the Phoenix, in our opinion. Do you know which are the most desirable units in the Phoenix? We believe we do….and whether you “GO IT ALONE”, or have us represent you-Your Costs Are The Same to Purchase At The Auction-We do not add costs to you…we only add experience and knowledge of the building!
 
Our sources tell us that most of the units being auctioned are one bedroom units, though a few two bedroom condos will be available at the auction. No studios are being sold at auction prices. Some questions you may want to ask yourself-Is parking included in the sale? What about the additional storage spaces? Should you pay for parking at the Phoenix, or simply rent a spot on-site?
 
Give Mark Wade from www.CenterCityCondos.com  a call at 267.237.3404 and lets chat about your specific wants and needs, and then lets go visit the Phoenix to see if you can be a part of the excitement!

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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530 Walnut Street, Suite 260
Philadelphia, PA 19106
Direct: 215.521.1523 ~ Office: 215.627.6005
Fax: 215.627.3142
Email: Mark@CenterCity.com
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