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September 19, 2007

Common Philadelphia Real Estate Terms

Filed under: Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 7:10 am

It is said that all real estate is local, and I believe that to be the case, especially in terms of Philadelphia condominiums and lofts.

A lot of buyers are often confused after reading the Inquirer, or surfing the internet for Center City real estate. So here are a few terms, tidbits and odd facts that I know that any Philadelphia REALTOR® should know after selling condos in this town after a while:

RWP Floors:  Random width pine floors. Probably the most valuable and sought after floor here in the Center City realty market. Will refer to an older building, possibly a loft or warehouse, and found in almost all areas of town – from Rittenhouse Square to Society Hill, Old City, Art Museum area, etc. Pumpkin colored, and the width of the planks vary in size, hence the term, Random Width.

FSBO:  For Sale by Owner. If you need for me to spell out what this means, perhaps you should do something else with your time other than shop for real estate.

Subway Tile:  This refers to the shape of a particular tile. Often found in bathrooms and kitchens of Center City condos, lofts, etc. Commonly, subway tile is twice as long as it is tall, hence, 6” by 3” or even 3” by 1.5".  Varying sizes can be called subway tile, which was popularized in subway platforms around the country back in days of yore.

GFHA:  Refers to a heating system that is “Gas Forced Hot Air”. Gas heats the air, and is “forced” through the heater by a huge internal fan. Very common in Philadelphia condos.

GFCI:  Is a “Ground Fault Circuit Interrupter”. They are outlets, generally with a “test and reset” button between the upper and lower plug in places on the outlet. Per Philadelphia housing code, such outlets must be placed within 5 feet of water sources.

Summer Winter Hookup: Becoming a thing of the past, but popular in older times, this is a heating system that has an integrated hot water tank. Your hot water is heated by the same system that heats your house. Even more rare in urban condominiums, lofts, and warehouses.

If you have any questions about Center City Philadelphia real estate, condos, lofts or warehouses, please give me a call at 215-521-1523 or drop me an email at mark@centercitycondos.com.  I’m happy to give you the scoop!

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

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