Certainly not all Philly condo buildings are created equal. They may look alike on the surface, but may not resell as well, and maybe be subject to a high number of foreclosures, short-sales, or REO/transferee buyouts. And how do you tell the difference? Quick Answer- Get a Real Estate professional who knows the ins and outs of the Center City Philadelphia Condo market, and get an expert opinion.
In order to make a sound, value-based decision, you need to be concerned with issues such as: Owner-Occupancy ratios, Association finances, Upkeep, Rules and Regulations, and whether or not the building you are considering is even available to be financed. Unless you have a crystal ball in your possession, perhaps you need to ask someone who knows about the Center City condominium market.
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106