Philadelphia Real Estate Blog

Center City Philadelphia
Condos and Lofts

 

Subscribe To Receive
 Blog Updates By Email

Calendar

March 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
 
 

August 5, 2010

Sh*tty Philadelphia Condo Buildings

Filed under: Center City Real Estate,General Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 2:17 pm

…Have Sh*tty Resale Prices- If they sell at all.

 
Come on, you would have to be from the moon to believe all condo buildings here in Center City are created equal in terms of
demand, cache, and resale ability (in terms of price and “days on market”). There are some buildings in downtown Philly that just really suck, in terms of their investment value. And there are a handful of buildings that basically cannot resale at all.
 
Some of the signs to be aware of-
 
1) A lot of units on the market, and very few sold in the past 12 months
2) A high number of REO’s/Foreclosures/Short Sales
3) A low owner-occupancy ratio in the building
4) Poorly managed exterior and common area condition
 
Unless you are buying a short sale or a foreclosure in the building, or are in the mood to just piss your money away, I would suggest we talk prior to you buying in certain buildings.. Some Center City condominium buildings aren’t worth a look, much less an offer.

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

Tags: , , , , , , , , , , , , , , , ,

• • •

No Comments »

No comments yet.

Comments RSSTrackBack URI

Leave a comment

 
 

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