March 30, 2017
March 20, 2017
Twenty years ago, you would have been either a pioneer or some kind of loon to have ventured to a waterfront area of Center City in terms of condo living. That certainly has changed. As I haul buyers around town year after year, I am finding that the possibility of living on the waterfront has gained in popularity and overall acceptance.
The Waterfront Sq. condos at 901 N. Penn
, as well as Pier 3, Pier 5, and Dockside Condominiums
at 717 S. Columbus Blvd. have all grown in terms of demand, value escalation, and a shortened “days-on-market” quotient. Like any neighborhood, there are pros and cons and the following is what my buyers generally say:
Easy Access to I-95 and Jersey
Seems most buyers have this notion that when they move to town they will no longer need their car. That notion only goes so far and for so long. New Center City residents either get the Uber app or simply take the bus or a taxi when they want to go across town. Perhaps the “remote location” notion is becoming less important to a number of new buyers in town as the popularity of waterfront living is growing substantially.
I have lived in Center City for 27 years and have been at Waterfront Sq. since 2011. In all honesty, I couldn’t be happier. I drive my car everywhere anyway- To the gym, the office, the drugstore, Whole Foods, etc. The notion of a remote location is actually a plus in light of the benefits…
March 13, 2017
Most sellers are smart and if not, at least teachable. Though, when they are not, I see them leave money on the table. Here are some common mistakes I see sellers make:
1) Allowing agents to put crappy photos into the MLS
I see this ALL the time. The MLS allows 25 photos any many online sites will rank your position based on the number of photos. Since out of town/out of state buyers usually know what they want to see when they contact me, their list always corresponds to the quality of the photos submitted to the MLS. Insist upon professional photos or find a new agent.
2) Moving out physically, and then mentally doing the same
So often I show condos where the seller has moved- both physically and mentally. Dirt, debris are left behind and the condo looks like someone left in the middle of the night. First impressions MATTER..and buyers will pay for that impression.
3) Not telling your insurance carrier that you sold your home
IF you seller your condo in the middle of any insurance pay cycle- you should call your insurance carrier and request the refund of the unused portion of that pay cycle. Your mortgage company will not do this for you.
4) Not adjusting your price as your condo sits on the market
Some of the best deals for buyers are those condos that sit on the market for a while- as long as the seller is adjusting his or her price accordingly. When a seller doesn’t move on the asking price, the listing gets stale and the demand for that unit will drop. So will its value.
5) Not staging or at least preparing your home for the market
Buyers don’t buy bricks and mortar. They buy feelings and emotions. Staging works. And every seller should be spending around $500-$1000 to prepare his or condo for sale such as:
* Minor Grout and Caulking around tubs, baseboards, etc.
* Rehanging Closet doors that are off their tracks
* Minimal touch up painting
* De-cluttering (this is huge)
* Minor cosmetic fixes throughout
March 8, 2017
These Philadelphia condos at 11th and Spruce Streets
offer sleek, contemporary, condominium units in a very desirable Washington Square West location – a five minute walk from Center City shopping, dining & nightlife and a short walk to Jefferson Medical University Hospital! 1034 Spruce Street
is an elevator building, with a modern lobby and attractive common hallways throughout. Bicycle storage is offered in the basement. Most units offer wood floors and large bright windows. Boutique in nature, Le Grenier houses a limited number of flats on each floor and every condo unit in the building has a buffer between units- be it a staircase or elevator. A wonderful addition to the Philadelphia real estate set, the Washington Square West condos show very well, have great light and the upper level units have fantastic Philadelphia skyline views!
- Neighborhood: Washington Square West
- 19 Total Condominiums
- Parking available at 11th and Clinton
- Condos are 973-1101 Sq. Ft.
- Individual HVAC with Central Air
- Washer/Dryer in Units
- Cross Streets: 11th and Spruce
- Walk Score: 97 out of 100
- Compare to: The Clinton Condos, 251 S. 24th St. Condos
Le Grenier Condos at 1034 Spruce Street- My Two Cents
Le Grenier condominiums (aka 301 S. 11th Street) is located on the southeast corner of 11th and Spruce Streets, this project arose from the ashes of a former kinda’ icky apartment building that caught on fire and burned back around 2002 or so. Le Grenier has a maximum of three units per floor…and no two units on any floor share a dividing wall- between units one and two is the elevator shaft and between the other two condos is a stairwell (so perhaps no noise from the neighbors).
We have sold four units in this 19 unit building and I think the lack of alternatives in terms of proximity to Jefferson Medical, as well as a great central location in town is really a strong “one-two” punch. Rental parking is across the street and you can ALWAYS catch a cab outside your front door at this address. I think this modern looking little mid-rise condo building is really kinda’ hip and modern and there are not many similar buildings around town like it. 1034 Spruce Street. condos max out at just over 1100 sq ft and are popular with the Jefferson Medical set due to proximity. Floor to ceiling windows provide superior light and views and the condos at LeGrenier are finished in a modern hip way with nice baths and open kitchens. And the higher floors have a killer view of the skyline. 1034 Spruce offers no amenities beyond an elevator and some bicycle storage in the basement. The lack of shared amenities equates to condo fees being reasonable. Each unit has its own HVAC system and hot water tank. The building has handicapped modifications in the lobby and a ramp. I think 1034 Spruce Street has a built-in resale market being so close to the neighboring hospitals. I would look for values to hold steady over the next decade or so and I think the units at Le Grenier are a smart buy and we have named the building one of the Ten Best in Center City 2009
Rarely available..buy ’em if you can find ’em!
March 2, 2017
As most of my long time readers know, I am a HUGE fan of the condos at 24th and The Parkway. I have sold many many units in the building over the years and have recently sold a number of the larger
units in the association.
Here are some professional photos that I have had recently taken of some of the common areas for those who may not be familiar with the building:
And here is a little more info on what I know:
City life is easy at The Philadelphian. You’re covered with a full time staff of engineers, security, concierge, doormen, maintenance, housekeeping, and administrative support. It’s all at your fingertips at The Philadelphian from security access to elevators to your private living space. the underground garage has valet parking, there is an indoor AND outdoor pool for year-round enjoyment, and a fitness center with saunas for starters. The first floor consists of professional suites with a variety of businesses, health care professionals, attorneys, Little Pete’s restaurant as well as Klein’s Market, a pharmacy and more. Just a short walk to the Philadelphia Museum of Art, Boathouse Row, Eastern State Penitentiary, Rodin Museum, and The Franklin Institute. All utilities and Comcast basic service included in monthly maintenance fee. the common spaces include a marble lobby, a 2000 square foot social room with adjoining kitchen for meetings, films and events, and an in-house library, card room, art studio, and on-site management suite employed by the Philadelphian Owner’s Association. The Philadelphian offers diversity in floor plans from modest studios-most with magnificent balconies-to opulent 3 bedroom residences offering over 2000 square feet of luxury living.