Philadelphia Real Estate Blog

Center City Philadelphia
Condos and Lofts

 

Subscribe To Receive
 Blog Updates By Email

Calendar

October 2018
M T W T F S S
« Sep    
1234567
891011121314
15161718192021
22232425262728
293031  
 
 

January 5, 2018

Stay Out Of The Cold & In Your Condo!

Filed under: Center City Real Estate,For Buyers,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 4:33 pm

Unless you are moving to Philadelphia from say, Alaska, the idea of living in a building where you don’t have to go outside to get out of the house can be rather appealing this time of year. Here are 6 Philadelphia Condos where you can do exactly that (and this is not an exhaustive list):

1) Waterfront Square – There is a 25-meter, indoor lap pool on site here with beautiful views of the river and bridge. There is also a spa, sauna, and steam rooms, not to mention a fitness center and on-site yoga classes.  There is even a convenience store on-site.

2) The Rittenhouse Hotel – Offering a true “hotel-living” experience, this condo building has restaurants and bars on-site, including Scarpetta, Lacroix, and The Library Bar. There is also a spa in the building with unlimited services, a salon, barber, and indoor pool.  The fitness center offers small group training and yoga classes daily.

3) The Ritz Carlton – Amenities at The Ritz include a large pool, huge gym, hot tub, and one of the most comfortable and actually usable community rooms in the City.  The Richel D’Ambra Spa & Salon and modern Latin American restaurant Aqimero are also on-site.

4) Liberty Two – If you get tired of your panoramic views of the skyline, you can visit the Sky Club on the 37th floor of this building to access amenities including a lounge, billiards room, yoga room, massage rooms, fitness center, sauna, steam showers, and swimming pool. R2L Restaurant is also on the 37th floor and dinner is served from 5-10PM, with the lounge staying open until midnight on the weekends.

5) The Phoenix – Tir Na Nog Irish Bar and Grill, Philadelphia Credit Union, and Starbucks are all located here at 1600 Arch St.  There is also a newly remodeled club room, a state-of-the-art fitness center and weight room, dry cleaning and shoe shine services, pool table, and a private conference room and dining facilities on site. You can also access The Suburban Station Concourse from inside The Phoenix, which allows you to access nearby offices, or connect with rail service to 30th Street Station, New York City, or the airport without stepping outside.

6) The Philadelphian – This building houses a pharmacy, a restaurant/bar, a grocery store, a bank, and a variety of businesses including healthcare professionals, attorneys, and more.  The Philadelphian also offers on-site activities including aerobics, yoga, Tai Chi, club games, meditation group, and book club. There is also a fitness center, sauna, and pool.

Also, if you are out touring condos for sale in these buildings or other high-rises this weekend, you won’t have to worry that the lockbox will be frozen shut as all of these condos have front desk concierge services. On-site maintenance and on-site parking are a few additional conveniences of center city condo living you may want to take into consideration.

Bundle up out there!

Tags: , , ,

• • •

January 2, 2018

Do I Need Title Insurance for My Philly Condo?

Filed under: General Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:56 pm

Absolutely! Check out this video from Trident Land Transfer for more info.

What is Title Insurance?

Here are a just a few scenarios you could encounter without the protection of title insurance:

– Forgery or fraud in connection with the execution of previously recorded documents
– Incorrect representation of marital status of grantors
– Undisclosed or missing heirs
– Wills that have not been properly probated
– Mistaken interpretation of wills and trusts
– Incorrect legal descriptions
– Unsatisfied mortgages, liens, or judgments not shown on the record
– Deeds executed under expired or false powers of attorney
– Confusion due to similar or identical names
– Unknown rights of ex-spouses or former owners
– Clerical errors in recording legal documents
– Incorrect filing of condominium declarations.

Some of these things may sound crazy. However, in my 29 years of selling Philadelphia Real Estate, I have come across more than a few of the above situations.

Email us if you have any questions about purchasing title insurance or any of the other steps involved in the home-buying process.

Happy New Year!

Mark Wade
Mark@CenterCity.com
BHHS | Fox & Roach Realtors
www.CenterCityCondos.com

Tags: , , ,

• • •

December 20, 2017

Philly Condo Buildings’ Best Amenities – 2017

Filed under: Center City Real Estate,For Buyers,Of Interest to Buyers — Center City Philadelphia Real Estate Agent @ 5:17 pm

Many of my buyers ask me which buildings they should view based on specific amenities.
Here’s how I generally respond…

Best Philly Condos For Swimmers:
Two Liberty Or Waterfront Square.

Best Philly Condos For Multiple Car Parking:
Bella Vista Lofts offers stacked parking/lifts.

Best Philly Condos For Views:
Lots, but I like Society Hill Towers.

Best Philly Condos For Gorgeous Common Areas:
Ten Rittenhouse, 1706!

Best Philly Condos For Being Pampered:
Ritz Carlton, Two Liberty, The Rittenhouse.

Best Philly Condos For Gym Users:
Waterfront Square, Ritz Carlton.

Best Philly Condos For Having Guests:
One Riverside…hospitality suite on site!

Best Philly Condos For Access To Shows:
Symphony House, Center City One…can’t get any closer!

Best Philly Condos For Dogs:
Naval Square, Waterfront Square.

Best Philly Condos For Kids:
Washington Mews.

Best Philly Condos For Convenience:
River’s Edge.

Best Philly Condos For Balconies:
1352 South.

Best Philly Condos For Large Kitchens:
Tivoli, The Rittenhouse Plaza.

Best Philly Condo For Closet Space:
The Philadelphian.

Best Philly Condos For Privacy:
Ten Rittenhouse, The Ayer, 1706, One Riverside, The Lippincott.

Want to know why I picked what I picked?  Email me and we can chat!

Mark Wade
Mark@CenterCity.com
BHHS Fox & Roach Realtors
530 Walnut St. #480 | Philadelphia, PA 19106

Tags: , , ,

• • •

November 28, 2017

12 Philly Condo Fee Facts…As I See Them

Filed under: Center City Real Estate,For Buyers,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:21 pm

1.) Right or wrong, some buyers will reject a Philadelphia Condo with high condo fees. However…

2.) Most buyers will look at their total monthly cost in determining their financial reach in terms of a purchase.

3.) Educating a buyer about the purpose of condo fees often tempers a buyer’s aversion to higher fees – most buyers simply do not grasp the concept of condo fees and how they are determined.

4.) It is not uncommon for there to be an additional condo fee for a parking spot and sometimes that number can be super duper high (often as high as neighboring rental garages).

5.) Condo fees are not tax deductible.

6.) Condo fees in Co-op buildings include the taxes.

7.) Almost every buyer will pay approx. 2 months worth of condo fees into the kitty (aka- reserve fund) at time of closing. This goes to the association, not the seller.

8.) An additional burden of condo fees is called the special assessment. No owner likes them, but everyone benefits from them in the long run.

9.) All condo fees are based on the square footage of that particular building. All. Period. Stop asking me that question. 🙂

10.) Super duper low condo fees are NOT a good thing. Usually means your building is running on fumes with no emergency reserves.

11.) A reflection of a building’s health is how much money it has in its reserves (which can stave off future assessments).

12.) Newer buildings tend to have less money in their reserves as the life expectancy of some of the larger common elements/ticket items (roof, windows, elevators, etc) have little or deferred maintenance.

Mark Wade
www.CenterCityCondos.com
BHHS | Fox & Roach Realtors
530 Walnut St. #480 | Phila. PA 19106
Mark@CenterCity.com | 215.521.1523

Tags: , , ,

• • •

November 21, 2017

Is That Covered by My Homeowner’s Insurance?

Filed under: Center City Real Estate,For Buyers,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 1:27 pm

Homeowners Insurance is necessary if you want to protect your home and your assets. Of course, Philly condo associations have a master insurance policy that covers the building, but you will still need to purchase a separate policy for everything “inside” the walls of your condo.

The standard homeowner’s insurance policy protects you from a wide range of things.  Here is some information straight from our friends at Trident Insurance Agency that you may be surprised to find that homeowner’s insurance can cover:

1. Tombstones
Yes! Grave markers at a cemetery are considered “personal property” and are covered by some homeowners insurance policies. There is probably a special coverage limit on tombstones.

2. Volcanoes (Not Earthquakes)
Most of us in the U.S., outside of Hawaii, don’t have to worry about this but if your home is in the path of an erupting volcano you’ll be covered! Earthquake damage or ground movement is not covered under most standard policies.

3. Your Child’s Belongings at College
If you send your child to college and he or she is living in a dorm, their items are usually covered under your homeowner’s policy. That’s because most policies cover anyone in your household as well as students under the age of 24. Not all policies cover students living in off-campus housing, however. Those students may require a separate tenant’s policy.

4. Your “Stuff” that you travel with
Most homeowners policies cover your belongings wherever they go under the “off-premises” provision. This means that if your luggage is stolen while you’re on vacation in China or Turkey or even North Dakota you’re usually covered. For pricey items like your jewelry, you should make sure you discuss purchasing additional coverage with your insurance agent, anyway.

5. Dog Bites
If your dog or cat or even your guinea pig bites someone, your homeowner’s policy may cover the cost of medical care, up to your Personal Liability Limit. Trident Insurance recommends AT LEAST $500,000.

Review your policy. You’ll find more interesting things that may be covered.  If you have any questions about homeowner’s insurance, please email Jessica Nydick at Trident Insurance Agency….jessica.nydick@foxroach.com.

Mark Wade 
BHHS Fox & Roach Realtors
www.CenterCityCondos.com

Tags: , , ,

• • •

November 8, 2017

Virtual Reality for Your Philly Condo Listing?

Filed under: For Buyers,For Sellers,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 11:52 am

There is no doubt that technology has changed the real estate industry…the days of looking for your next home in a newspaper are long gone. Buyers can find everything they need from pictures to floorplans to videos online. Redfin conducted a survey in May and found that 33% of people that bought a home in the last year, made an offer without first seeing the property in person. That is up from 19% the year before.

We currently create 3D Floor Plans for our listings…check one out here.

Pretty groovy for a floorplan…

But a Virtual Reality tour of a listing is like hosting a 24/7 open house…without having to entertain the looky-loos.  Even without the headset, these VR tours are cutting edge. You can check out a sample – one of Allan Domb’s listings – created by Matterport by clicking here.  Stay tuned for more…

Mark Wade
BHHS Fox & Roach Realtors
530 Walnut St. #480 | Phila., PA 19106
www.CenterCityCondos.com

Tags: , , ,

• • •

November 7, 2017

More New Condos Coming to Graduate Hospital

Filed under: For Buyers,General Real Estate,Of Interest to Buyers,Real Estate: Condominiums,State of Marketplace — Center City Philadelphia Real Estate Agent @ 5:07 pm

Graduate Hospital has been a really hot growth area for new construction townhouses and condo developments! Just south of Rittenhouse Square, you will find this hotbed of new construction here in Center City. The City’s tax abatement program has really helped this area grow. Easy access to the Square, restaurants, and shopping make the Graduate Hospital area a real attraction to buyers. The new Bloc 23 project and 2400 South condo projects are the latest additions to the area.

A 15-unit project, Ravello Philly, is set for the 14xx block of Clymer Street…a small block nestled between Broad and 15th, Fitzwater and Catharine. According to Curbed Philly,  “The development will include five three-unit buildings with dark brick facades in front and aluminum paneling in the back. In total, there will be 10 three-bedroom, bi-level units clocking in at about 1,800 square feet. There will be another five one-bedroom units about half that size. Each unit will have outdoor space, too.” [Read More Here…]

Mark Wade
BHHS Fox & Roach Realtors
530 Walnut St. #480 Phila., PA 19106
www.CenterCityCondos.com

Tags: , ,

• • •

November 2, 2017

Keys To A Smooth Mortgage Process

Filed under: For Buyers,Of Interest to Buyers,State of Marketplace — Center City Philadelphia Real Estate Agent @ 12:23 pm

After we help you find the perfect condo, you will have some work to do with your mortgage lender. Here’s a great video from Trident Mortgage on what to expect during the lending process:

As always, we will be here to help and answer any questions you may have along the way.

Mark Wade
215-521-1523 | CenterCityCondos.com
BHHS Fox & Roach Realtors
530 Walnut St. #480
Philadelphia, PA 19106

Tags: ,

• • •

October 19, 2017

Lobby Upgrades at The Academy House Condominiums

Filed under: For Buyers,For Sellers,Of Interest to Buyers,Of Interest To Sellers,State of Marketplace — Center City Philadelphia Real Estate Agent @ 5:08 pm

Replacing the overabundance of green marble that had existed since the 1980’s was a smart move by the Academy House Condo Association.  The new front entrance/lobby looks great…see for yourself!

The Academy House condo association has also replaced interior unit windows (huge upgrade) several years ago, and in 2013 they revamped the interior hallways- which look really good. These condos have great track record of reselling- always have and probably always will. A very smart purchase. Condo fees include almost all utilities. A very central residential location, rental parking in the lower levels, and a 24-hour doorman. A fair number of units have outside balconies. Academy House is a non-smoking building. Values here are not heavily contingent upon floor height, as many units have great views.

If you are interested in taking a look at condos at The Academy House, give me a call at 215-521-1523 or email Mark@CenterCity.com.

Mark Wade
www.CenterCityCondos.com
www.Facebook.com/PhiladelphiaCondos
BHHS Fox & Roach Realtors

Tags: , ,

• • •

October 16, 2017

Rehab Loans Are Back, Baby!

Filed under: For Buyers,General Real Estate,Of Interest to Buyers,Real Estate: Condominiums,State of Marketplace — Center City Philadelphia Real Estate Agent @ 3:47 pm

A Renovation Mortgage allows home buyers to finance renovations as opposed to having to pay cash out of pocket for upgrading their recent purchase. If you’re looking for a condo that needs a lot of work after closing, this loan program can provide the funds for renovations and repairs for a primary residence or for investment properties by using the “after improved value” with a single loan at closing.

For more info on FHA 203K or Homestyle Renovation Loans, click the following links for a breakdown of each program’s details from Jason Griesser at Guaranteed Rate and Jeremy Durkin at Trident Mortgage.

This is rare! I haven’t seen these loans in YEARS.

If a rehab loan sounds right for you, please call me, send smoke signals…whatever works best for you.

Mark Wade
BHHS Fox & Roach Realtors
www.CenterCityCondos.com
Mark@CenterCity.com

• • •

« Previous PageNext Page »
 
 

530 Walnut Street, Suite 480
Philadelphia, PA 19106
Direct: 215.521.1523 ~ Office: 215.627.6005
Fax: 215.627.3142
Email: Mark@CenterCity.com
Copyright Mark Wade | All rights reserved.
Site Admin | Log Out