Philadelphia Real Estate Blog

I am such a sucker for a Gorgeously Decorated condo!

Any condo developer with a large number of units to sell is going to have one unit on display, and decorate it to the Nth degree. Some Philly condo offerings do such a thing better than others. Having seen almost every condo Model Home in town, here are my three favorites (not in any particular order):

1) Dockside Condominiums

Gorgeously appointed with some of the most attractive finishes, the two bedroom model units at 717 S. Columbus Blvd. are breathtaking. Simple, and timeless, these model units are a very powerful sales tool. With huge walk-in closets, and a nice little patio, not to mention killer views, these units are stunning. All my customers say so!

2) The Aria Condominiums

The Penthouse model unit at 225 S. 15th St. (aka 1420 Locust St) is nothing short of spectacular. The model unit provides any prospective buyer with a sense of simultaneous excitement and inner peace. The finishes work in harmony to bring a very livable space to life. And if views of neighboring Center City skyscrapers is your thing, then look no further than the Aria. Nicely done.

3) The Ellington

Located at 1500 Chestnut St, the decorated penthouse units at the Ellingotn have caused me to reevaluate my living situation on more than one occasion. The power of the emotion pull that these model home have on mere mortals is stunning. A gorgeous set of model units for you to see.

If you are looking to be bowled over by a model unit in town, and can easily see yourself living such a glamorous life, give me a call at 215.521.1523, and let’s go see some lovely condos! But be forewarned, these units are very persuasive in their ability to pull at your purse strings!

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

Philadelphia is not, nor has it even been as BAD as Philadelphians claim that it is. According to Zagat, Philadelphians rank highest in the nation for generous tipping! As a waiter in my past life, I have always been one to tip well- though I am aware that I am a bit demanding also.

I came across this article about Philadelphia tippers and it turns out that over 5500 of Philadelphia’s restaurants reported that the average tip a Philadelphian leaves is around 19.6% compared to New York’s 19% and then LA’s 18.4%.

It turns out our City is filled with kind folks (not to mention fabulous restaurants with fabulous décor and service) after all! We have long been known for our many fine restaurants here in Center City Philadelphia, and perhaps there is a correlation between what we expect from our local restaurateurs, and what they expect from us.

Looking for a condo here in the Big City that is close by to your favorite restaurant? Give me a call at 215.521.1523 or drop me an email at Mark@CenterCity.com and I’d love to go condo shopping and maybe even grab a bite to eat or a coffee (I’ll even leave the tip)!

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach Realtors
215.521.1523

Save Money, Save Energy!

With today’s high energy costs and the global warming situation, it may be a good idea to invest in some EnergyStar products for your Center City Condominium. Here are a few that I like myself:

The Miele W3035 Washing Machine. A stainless steel Washing Drum with a 24-hour delay start, interior light, and hydraulic suspension, yet delicate enough to wash your “dry-clean only’s” and environmentally friendly. No condo here in town should be without one of these babies!

The Viking Under-Counter Ultra Premium Dishwasher. The front of this dishwasher is custom-panel ready so that it can match any kitchen in Center City Philadelphia! It’s sound-absorbing, water-extracting, stainless steel and EnergyStar approved! And did I mention it is a Viking?!?!

Last but not least, every condominium owner here in town needs to change thir light bulbs to the new fancy flourescent spiral energy-saving bulbs TODAY! It is simple and these EnergyStar bulbs can save 75% on energy.

When you are ready to start looking for your own energy-efficient condo here in Philly, give me a call at 215.521.1523 or drop me an email at Mark@CenterCity.com.

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

We have talked about this before and the topic keeps us happy here in Philadelphia, so here we are talking about it again. Amidst a year filled with housing turmoil, from foreclosures to listings that sit on the market for over 200 days with no end in sight despite ANOTHER price reduction, here in Center City Philadelphia, condominiums are still selling. Sure, the market here has softened, there is no doubt about it, but compared to our Suburbian friends around the country, our head is still holding above the water and with no intention of sinking.

I came across this great article from the Philadelphia Inquirer from the summer titled Center City Condos Thriving. Many of my colleagues are quoted throughout the article and at the bottom you can read some statistics from many buildings in which I’ve sold a condo or 2 (or many) myself, including The Winne Building, in which I currently have several lisings.

Before we know it, the 2009 Spring market will be in gear and things here in Center City Philadelphia will really start to pick up again. If you are interested in an appreciating long term investment, give me a call at 215.521.1523 or drop me an email at Mark@CenterCity.com to set up an appointment and let’s go condo shopping (my favorite thing to do) together!

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

Need we say more?

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

Untidy vacant homes? Crime? Social Disorder? Here in the City? Guess again.

With the subprime crisis unfolding across America, more and more homeowners in the Suburbs are facing foreclosure and they are having a difficult time finding buyers who are interested in purchasing their homes that sit on oversized lawns that will need mowing on Saturday morning after a 75 hour work week. Today, most buyers in our market are young professionals who work long hours and who may be interested in eventually starting a family if they haven’t already. This doesn’t leave them with much time left over for things like lawnmowing or cleaning gutters. There has been a major shift in the way folks want to live and work today compared to 30 years ago in more ways than one.

Here is an informative, well-written article, The Next Slum? written by Christopher B. Lineberger, that I came across that talks about how Houses in the Suburbs are sitting vacant or on the market longer and longer. Overgrown lawns and untended homes are sprinkled heavily throughout these neighborhoods that many once thought were much more desirable than our urban setting. Unfortunately this is leading to in influx of problems, such as unlawful homeless tenants or even unruly renters that no one wants as  neighbors. 

On the same note, cities, especially Center City Philadelphia, have become more desireable to today’s professional buyers. We are seeing more and more new construction around town and more and more folks are leaving their lawnmowers behind and joining us in our culturally exciting way of life. From being able to walk to work or to your favorite restaurant to having your own doorman in a pet-friendly, “green” condo building, Center City Condo living is thriving!

If you are interested in taking a look at some condominiums here in town, give us a call at 215.440.2388 or click this link to Meet Our Team!

Nicole Noguer
Licensed Office Assistant to Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

Not necessarily the most expensive, but having twenty years experience in the Center City real estate sales, and asking other agents for their input, I have compiled a list of the top dream Penthouse condos in Center City Philadelphia…

1)   The Plaza on Rittenhouse Square – Boasting some of the most magnificent mansions in the sky. Each unique and filled with pre-war elements. Stunning. And a few are bigger than huge.
 

2)   Water Front Square- Some of these gems are over 4000 sq. ft, and have 2000 sq ft verandas overlooking the river. Floor to ceiling glass curtain walls don’t hurt the views either.

3)   The Drake Tower: Ok, I am cheating here. This is a rental building, although the building was converted to condos in the 1980’s. Rivaling some of the finest New York City Penthouses, these units at the Drake offer significantly detailed terraces.

If you are intereste in taking a tour of a few penthouses around town, give me a call at 215.521.1523 or send me an email at Mark@CenterCity.com. I’d love to show you around!

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

With the recent headlines about our economy and the current state of the mortgage industry, not to mention Wall Street, it is nice to talk about the opportunity some folks can still have to purchase their first home with the $7500 Fist Time Home Buyer Tax Credit.

I recently came across this easy to understand and well-thought out article written by a Mortgage Planner from Washington that explains a bit about the First Time Home Buyer Tax Credit.  People are taking advantage of this tax credit from coast to coast.

If you are a first time home buyer looking for, say a Rittenhouse Square condo, or an Old City Loft, give me a call at 215.521.1523 or send me an email at Mark@CenterCity.com and I’d love to show you around and help you take advantage of this great opportunity!

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

Based upon what my buyers have been showing me for years, I would suggest that there are about ten Characteristics that can limit top dollar resale amounts for condominiums in Center City Philadelphia (not in any specific order) :

1 ) Units in buildings with low owner occupancy ratios
2 ) Tri-Level unit condos with corkscrew styled staircases

3 ) Units on the 2nd floor just above the dumpster area (in high rise condos)
4 ) Units directly over noisy bar

5 ) Units with a significant amount of living space in the basement
6 ) Units without direct light into living room area
7 ) Units located on the first floor

8 ) Units with disproportionately high condo fees
9 ) Units that are fifth floor walk-ups
10 ) Units in an “alley” that has pubs on either ends

Not to say that such units are not sellable, it is just that in many cases, units with some of the above characteristics are often times discounted below the sale prices of units without such conditions. If you can find a Philadelphia condo with one or more of the above attributes, you may find that you will get a bit more square feet for the money!

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

2101 Market Street in Center City Philadelphia