Philadelphia Real Estate Blog

Center City Philadelphia
Condos and Lofts

 

Subscribe To Receive
 Blog Updates By Email

Calendar

December 2017
M T W T F S S
« Nov    
 123
45678910
11121314151617
18192021222324
25262728293031
 
 

December 29, 2014

More Super Duper Condo Comp Data

Click the LINKS above for Full details
Tags: , , ,

• • •

May 5, 2014

Ask the Big Brain Realtor -Common Answers to Common Questions

Filed under: Center City Real Estate,For Buyers,For Sellers — Center City Philadelphia Real Estate Agent @ 2:21 pm
I get asked a lot of questions about Center City condos. Tons actually.
    I have no problem with questions. In fact I love questions-gives me the opportunity to be a big brain know-it-all. When I was a kid, my father called me a ham. I don’t think he was too far off. Whatever….here are some commonly asked questions asked by buyers and sellers and the most direct answers I can come up with- My answers are in RED –
1) What will my future taxes be?
      I dunno’ – I can’t see into the future.
2) Should I get a Lawyer?
      Sure- IF you get a real estate lawyer 🙂
3) Should I have an inspection?
      Yes- Please please do.
4) What will this condo be worth in 10 years?
      Crystal ball broken- check back later.
5) Do I have to attend settlement?
     Usually not. But a buyer who is getting a mortgage may have to attend.
6) Can I move in (either myself or my stuff) prior to settlement?
     Uh, no.
7) What are condo docs?
     See the answer to question # 2 above.
9) Do I have to pay condo fees?
     Yes. All condos have fees. All.
Tags: , ,

• • •

April 29, 2013

I would watch these “home shows”…

Filed under: Center City Real Estate,For Buyers,For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 11:44 am

I like programs on TV about real estate. I think the shows are timely, relevant, and interesting. A nice combination of education and entertainment centered around a topic everyone likes to talk about- Real Estate buying and selling.

asseen

Here are some ideas I have for TV programs that I would like to watch, because as a Philadelphia REALTOR, I encounter a plethora of situations I believe are worthy of their own TV segments:

Buy a Home From Me… or Get out of My Car- A show where buyers who really are not interested in buying, but just want a guided tour to see some cool homes, are called on the carpet.

Lazy, Stupid REALTORS- A show featuring some of the lazy stupid things REALTORS do… Like advertising open houses, and then not bothering to show up for it.

Buyers- What Are You, Nuts? – A show where buyers grossly overpay for a home simply because they like the way the home shows and/or because of the cleanliness of the interior.

Sellers- What Are You, Nuts? – A show where sellers want to sell their homes for more than any other house in their ZIP code because they “KNOW” their home is the nicest in the entire area.

Yes, You Have to Pay Condo Fees – A show that captures the quizzical looks of buyers when they learn that the Center City condo front doorman doesn’t work for free. Or, that the elevators do run on electricity, which results in a common bill for ALL condo owners.

You Want to Buy WHAT?? – A show that features buyers who purchase the polar opposite of what they tell their REALTOR they’re looking for.

Any Closet is a Walk-In Closet if You Try Hard Enough – A show featuring the silly things that come out of REALTORS mouths when trying too hard to make a sale.

Fighting Spouses – She wants a Philadelphia condominium; he wants a Center City loft. The differences play out before the cameras! Or, she wants to buy, he doesn’t.

Parents Say the Darnest Things – So eager for their kids to move OUT of the house, parents find a positive side to the worst possible properties on the market!

Let me help you make sure your Center City real estate transaction doesn’t become the next hit reality show. Give me a call today at 215-521-1523 or drop me an email at mark@centercity.com

Tags: , , ,

• • •

January 11, 2011

Kill Your Condo’s Resale Value by Selling it Filthy

Filed under: For Buyers,For Sellers,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 2:48 pm

As a longtime Philly Realtor, I see the value in a good appearance of a given, say Old City Condominium, and a good first impression. One that does not include dirt!

It is one thing if your kitchen has white appliances and Formica counter tops. Buyers can look past that.  Most folks can even get passed your vanilla bathroom and maybe even the lack of good natural light. But your dusty brown futon from your college days? Your clear lack of ownership in a vacuum, or a mop?  More than any home improvement, if you are looking to increase the value of your condo in Philly, get yourself some Clorox, and get cleaning.

mopbucket

Most buyers are not interested in having your dirt and grime included with the sale. Unless of course, you are looking to kill your resale value.

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

Tags: , , , , ,

• • •

October 19, 2010

Philly Condo Shopping- Bring your imagination with you!

Filed under: For Buyers,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 11:51 am

As a veteran Philly real estate agent, I find sooooooo many buyers here in town are visually motivated. Yet visualizing color, texture, furniture placement, and implementing solutions to visual challenges, are often the most difficult hurdles to jump when trying to emotionally put themselves inside a new condo here in Philadelphia.

01-bainbridge-corner-unit
  
I see so many buyers react to staging, wall color, furniture design, and layout, that the power of a well done model home cannot be overstated. Just look at Toll Brothers Naval Square Condos which do a fabulous job pulling in your emotions by allowing you to leave nothing to the imagination. I see my buyers react, and they are like “WOW”.

If you are considering buying, I suggest we sit down and chat about your visualizing skills. And lets see which units in town may be a good fit for you.

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

Tags: , , , ,

• • •

August 31, 2010

You’re a Real Estate Junkie, aren’t you?

Filed under: General Real Estate,State of Marketplace — Center City Philadelphia Real Estate Agent @ 3:48 pm

Did your addiction start back in the late 1980’s with the Sunday morning infomercials like “Fox and Lazo’s Parade of Homes”?
 
Do you search sites like www.Trulia.com and www.Zillow.com, just to see what is on the market in your area? Has your need compelled you to chat about Philadelphia real estate at cocktail parties, and intimate gatherings? And do you usually look through the real estate section of the Sunday paper…like, every Sunday? I thought so.


    
My particular need for R.E. (real estate) was first exposed to all at the age of 19. I used to sit down with a red pen, and circle properties in the weekend paper that I thought our family might drive past, after seeing those on the aforementioned Parade of Homes. Anyway, I am a realtor now for the past 21 years here in downtown Philadelphia. I know your type. You notice every “for sale” sign in your neighborhood. Akin to there being a metal plate in your head that pings whenever you drive past a “for sale” sign you have also probably spoken to or emailed a Philly realtor to get some more info on a home that you planned on neither buying nor selling. And Open Houses? Forget…you have been to them all, and you usually make a B-Line for the photos on the walls of those homes.
    
Go ahead, admit it. You are a Real Estate Junkie. Start with the phrase, “My name is _______________, and I am a real estate junkie. You will feel much better in no time.

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

Tags: , , ,

• • •

July 12, 2010

Auction Results from CU 257

Filed under: Center City Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 8:55 pm

The third auction in the Center City condo segment of the market to occur. I would deem it a success. Here is what I understand folks paid.

 
Here is the breakdown of the prices.  These prices are the winning bid prices and do not include the 10%  auction premium on each winning bid.
 
1.  $615,000 Unit 601E
2.  $600,000 Unit 601W
3.  $470,000 Unit 401W
4.  $495,000 501E
5.  $485,000 501W
6.  $455,000 301E
7.  $455,000 401E
8.  $445,000 201E
9.  $435,000 301W
 
And if you think this is the last Center City Condo auction that is going to take place, I would suggest you are wrong! Keep your eyes open for more future auctions! Call or email me if you want me to comment on these prices!  215.521.1523
  
Mark Wade

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

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

• • •

December 10, 2009

Are you the reason your Center City Condo isn’t selling?

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 9:53 am

… I have met more than one seller who was his own worst enemy.  🙂

In a town where only about 30%-40% of the condos that come on the market, actually sell, I need all the help I can get when it comes to selling your Old City Condo, or your Rittenhouse Square high rise unit. If condos just sold themselves, you would find me singing and dancing in the middle of Broad St. every day around lunch time. I do my best to employ every business and technological advantage to selling your condo, but if you are a giant DOLT, then you are going to make my job a lot more difficult.  Now I don’t mean to be a bully here, and I am saying this kinda’ tongue in cheek. But sometimes, a seller can really get in the way of his or her Fitler Square condominium from obtaining an acceptable offer. Here is just a quick rundown of things no seller should be found guilty of doing:
 
Being present for an Open House. Not cleaning your home, or making your bed daily. Not putting all the crap in your walk-in closet into a storage bin. Talking to a buyer excessively if and when showing your own home. (…like extolling the virtues of your new mauve carpeting).  Oh, and allowing your tenants to dictate if and when your condo can be shown.  And my personal favorite, insisting that your condo is worth more than any other proven similar area sale. I like that one the best. 
 
When it comes to pricing, you are going to have to be negotiable. I can scarcely remember a time when a seller actually got everything they wanted in a given offer. Mostly the disappointment is reflected in a sale price, but can assume the role of an inconvenient settlement date, having unwanted contingencies gum up a deal, what-have-you. Suck it up. We all have to. I am sorry. I wish I could make those issues disappear, but they are part and parcel when selling a condo in Philly
 
I tell ALL my buyers that I can get them 9/10 things on their wish list. I can never get them 10/10. The same goes for sellers. That is just a fact of life here in the big city.
 
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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

• • •

December 8, 2009

Excuse me, Mr. or Mrs. Lazy Realtor

Filed under: General Real Estate,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 9:57 am

Is it wrong of me to expect some effort on your part, or Am I some kinda’ goof?


 
    
Here is an open letter to a small fraction of the realtors in the world. Most are indeed professional and responsible. This letter is to those who are not.
 
You say the Philadelphia Condo market is brutal, and you complain about your lack of income. Well guess what? It isn’t just the market working against you. You are working against yourself.  For Instance… You don’t own a lockbox , you won’t return my call, and your cell phone is not set up to accept messages, and my buyers really want to see your listing.  You make it exceedingly difficult to show your listings. And I ask-Are you outta your mind? I mean, isn ‘t your fiduciary responsibility to work in the best interest of your seller? How do you not see that YOU are the reason that your particular listing isn’t perhaps selling, or at least getting the traffic it deserves?

I know, I should get off my high horse, and stop expecting you to do your job. I should have my head examined for guessing that you are interested in your job enough  to actually perform it with the least bit of effort.  Oh, and you gave me the wrong alarm code, didn’t mention the owners had a big mean dog inside their Center City Penthouse, and that perhaps the tenants were the angry sort. You said the property was open to FHA financing, which it clearly isn’t, and in your ad, you said parking was included. Now you want $35k for that spot?

I do my best to extol the virtues of professionalism when it comes to dealing with buyers and sellers. I am no saint, but am I wrong to expect some sort of proper behavior on the part of cooperating realtors?

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

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

• • •

December 4, 2009

Philadelphia Penthouses

Filed under: Center City Real Estate,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 1:43 pm

As you can see from my Philadelphia condo site, www.CenterCityCondos.com, there are a variety of Penthouse units to choose from here in Center City. The sky is the limit- pun inteneded, the the priciest condo in town is listed at $30,000,000. Call me if you hit the lotto numbers in the near future! 🙂
    
There is also currently a corportate owned Penthouse condo in town, with over 3600 sq. ft, and a huge veranda asking just over $1,000,000 (down from something like $2.9m) And of course for perhaps you, I, and the masses, there are more modest offerings sprinkled throughout Old City, Rittenhouse Square, and Society Hill in the mid $500,000 range. If you are willing to go a little harder edge, perhaps a “hard” loft, top floor condo with a roof deck can fetch a few hundred thousand, though rare indeed.
    
Philadelphia really has an amazing assortment of Penthouse condos in almost every neighborhood. From the mansions in the sky, to the studio and one bedroom, and everything in between. Pre-War, Modern, New Construction, Water Front, to warehouse conversions with spacious roofdeck.

Philly has it’s share of interesting inventory for the Penthouse set.

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

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

• • •

Next Page »
 
 

530 Walnut Street, Suite 260
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