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August 13, 2007

I Hope the Center City Condo I Sell You Smells Like Dog Pee

Filed under: Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 6:13 pm

And has dirty orange shag carpeting.  And faded purple painted walls.  I really do.

I have been preaching this mantra for some eighteen years now here in Center City Philadelphia.  And it has worked!  Our little group of seven REALTORS® (www.CenterCityCondos.com) at Prudential Fox and Roach REALTORS® sell over 160 Philadelphia condos and Philadelphia townhouses a year to very happy owners.

One distinction that we can brag about is the fairly sizeable profits a lot of our buyers make when they call us a number of years later to resell their Center City condos. Now granted, a lot of that has to do with the market conditions, and the fact that Philadelphia real estate has been on an upswing for the past dozen or so years.  But, a significant reason many of our Philadelphia condo buyers make money is because we guide them to properties that are diamonds in the rough.

Buyers are probably going to find the smelly, ugly Center City condos severely discounted (disproportionately) lower than one might expect….because few other buyers are emotionally attracted to these “dogs.”  My goal is to get buyers to see past the simple outdated or unattractive cosmetics that are inherent in a number of downtown Philadelphia lofts, condos, and townhomes.

I feign deafness when I hear a buyer tell me that the “place is perfect, except I don’t like the carpeting.”  Or that the appliances are old and the inside of the refrigerator smells like the inside of their gym bag.  Those issues are what I call PHONE CALL UPGRADES. You pick up the telephone, you dial the local Home Depot or Lowes and you set an appointment for them to come out and replace the appliances and carpet. You place one call to a painter who repaints all the faded purple colored walls. These are one step-one call upgrades. This isn’t brain surgery. We are not moving the kitchen which would involve moving gas lines, water lines, replacing flooring, redoing baseboard moldings on and on and on and on. Simple stuff… “One Phone Call” stuff. 

And that is where many buyers see a huge increase in their resale price:  simple, light cosmetic work. The kind of work that takes a pee smelling, dirty orange shag carpeted piece of ick, and adds significant emotional value through the use of good decorating skills, cleanliness, and minor cosmetic upgrades that are readily visible to the eye.

For those condo owners who are considering doing some major renovations, The Fortress Builder General Contractors do both residential and commercial renovations.

Buy ugly.  Buy smelly.  And sell oohs and aahs…   Then sing and dance all the way to the bank.

Ready to discover your own diamond in the rough?  Give me a call today at 215-521-1523 or drop me an email at mark@centercitycondos.com.  We’ll smell out those “dogs” and find you a real ooh and aah buy!

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

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4 Comments »

  1. Great post! I am gonna share it with my own blog readers at jason.landbrokr.com ! Thanks.

    Comment by Jason Ganz — August 13, 2007 @ 11:19 pm
  2. I’m glad we found each other. Always good to find another agent who’s telling it like it is! Maverick’s unite!

    Comment by Marcus Burke — August 15, 2007 @ 9:57 am
  3. […] Often a buyer’s query comes in the form of:  “Will this home be worth more in five years than the one across town we just saw?,” or “Should I lock my interest rate today because interest rates are going to rise next week?” […]

    Pingback by Center City Condos Blog » My Crystal Ball is in the Shop — August 27, 2007 @ 9:11 am
  4. […] I Hope the Center City Condo I Sell You Smells Like Dog Pee […]

    Pingback by Lead Booster Club Blog » Blog Archive » How to Generate Real Estate Buyer Leads By Imitating Successful Bloggers, Part 2 — December 29, 2007 @ 11:59 am

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