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October 29, 2007
In the state of Pennsylvania, you must be licensed to sell real estate. Which means if you are a licensed PA REALTOR, you may sell real estate anywhere from Erie to West Chester. But should you? Is it fair to your buyer to sell real estate in Philadelphia if you are not familiar with say, where City Hall is located?
I would have to say that in a number of cases, this is not in a buyer’s best interest. As a licensed agent with Prudential Fox and Roach Realtors in Philadelphia for the past nineteen years, I have a tendency to think that an agent’s best asset is his or her knowledge of an area. Anyone can type up an agreement of sale, negotiate an offer, and unlock a door. Identifying, and pointing to a kitchen inside a Philadelphia condo is no great feat. My 102 year old, nearly blind grandmother could do so. She could also point to the bathroom and exclaim, “And this is the bathroom”. But would dear old grandma know the average dollar per square foot of that Center City loft condo? Would she know what the condo fees cover, and if trash removal is a part of that fee? I doubt it. Don’t get me wrong. She is smart, and what she doesn’t know, she makes up (when I was in 2nd grade, she told me Santa Claus and the tooth fairy were step brothers).
I personally would never dream of going outside a three mile radius of my area of influence to try to sell a condominium or a loft to a buyer. My knowledge of Philadelphia real estate extends about as far as one might be able to see a car’s headlights in the distance. In Center City, Spruce, Pine, and Lombard Streets are imprinted in my brain. I know them well. Suburbs like Havermont, Bala Wynwood…..I don’t have a clue. And I will be the first to admit such shortcomings. So what possible good could this experienced Philadelphia real estate agent do for you outside of Center City. Not a lot.
Are other realtors so forthcoming? Generally not. Not when I get a call from Susie the realtor who “knows Center City real estate” because her mother used to bring her to Wanamaker’s for the annual Christmas show when she was eleven, but hasn’t been here since. Or if Susie asks if there is a driveway in front of my new Center City loft listing, just how much could Susie be expected to add, as a realtor in Philadelphia, to this particular transaction?
I know my limitations, as they are many, numerous, and varied. I know Center City real estate like the back of my hand. I also know that if you see my trying to peddle real estate in say, Manayunk, you need to assemble a crazed group of villagers wielding pitchforks and torches, and run me the hell out of town.
On the other hand……
….if you are looking for an experienced REALTOR to list your loft near Washington Square or if you are interested in buying a condo on or near Rittenhouse Square or in Old City, I am just a phone call or email away. You can take a look at my new listings and my recent sales on my website www.CenterCity.com and feel free to listen to my podcasts and read some more of my blog entries and get to know me better and then give me a call at 215-521-1523 or send me an email at Mark@CenterCity.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St. Philadelphia, PA 19106
October 25, 2007
For years, I have been trying to convince my husband to move with me back to Center City and sell that bulky truck of his. I mean, we really could get by on my much more fuel efficient Hyundai Accent, especially if we bought one of the many Philadelphia lofts currently on the market….one with a view of the city skyline and walking distance to everything! Our conversations about moving into town always include where we would park both of our vehicles, or how we would cope, being a two car family.
Well, I have found a way for us to have our cake and eat it too! It’s called “Flexcar” and depending on how often you use it, the rates start at just $3 an hour. And the best part is that you can use a different car every time. They have everything from a Fuel efficient Honda Civic to a Ford F150 pickup truck to a sporty BMW. Flexcar pays for gas, parking, maintenance, and insurance. These cars are stored conveniently all over parking garages here in the City of Philadelphia – From parking lots at 5th and Spruce Streets, to 23rd and Pine Streets, and are becoming increasingly popular in other cities such as Atlanta, San Diego, Seattle, and Washington, DC, just to name a few. You just sign up for a membership for just $35 per year and call or logon to www.flexcar.com to reserve your vehicle and it can be ready for you to pick up at a local garage in minutes or hours or weeks depending on how far in advance you’d like to or need to make your reservation! And depending on where we are headed we can reserve the vehicle that will suit us best for each particular trip.
So, the fact that our potential the new Philadelphia loft may only come with one parking space isn’t such a problem anymore. Center City loft owners probably don’t need 2 cars and thanks to flexcar they can actually probably get by without being a two car family. How many Center City condo owners actually even see their cars on a daily basis anyway? Think of all the money you can save on car payments and insurance and gas and repairs…..think of how much more often you can go out to dinner or shopping or how much more money you can invest in your retirement fund or your child’s college fund or how much nicer a loft you can buy with all that money you’ll save!!!!! 🙂
If you are interested in living here in Center City Philadelphia, you might want to try out this great new trend of using a flexcar. Visit our website at www.CenterCity.com and take a look at our new listings of homes, condos, and lofts and see how close they are to the convenient locations where you can pick up your flexcar…….maybe I’ll see you soon picking one up at the garage in either Fitler Square, Rittenhouse Square, or Old City, Society Hill…..wherever! And you can always call Mark Wade directly at 215-521-1523 or send him an email at Mark@CenterCity.com to find the Center City condo that best suits you!
Nicole Noguer
Office Assistant for
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
October 23, 2007
As a Center City condominium specialist, I’m always on the look out for useful information for Center City condo buyers and sellers.
I wanted to share with you an excellent blog post I recently read titled "10 Questions to Ask Your Condo Board." This post is helpful if you’re curious about the type of Philadelphia condo association you might possibly buy into.
Know that the smaller, self managed, low-rise Philadelphia condominium associations may not be equipped, or motivated, to divulge information in a timely manner. Don’t allow that to be a reflection of the association. But this "10 Questions to Ask Your Condo Board" blog post does provide some good “food for thought."
Have a question about Center City condos or condo associations? I’m here to help! Give me a call today at 215-521-1523 or drop me an email at mark@centercitycondos.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St. Philadelphia, PA 19106
October 19, 2007
CenterCityCondos.com at Prudential Fox and Roach Realtors is a small group of realtors which specializes in Philadelphia condominium sales throughout the downtown Philadelphia area. We are the number one seller of condominiums in the past few years if we base such a distinction on selling condos in a variety of buildings. We do not specifically specialize in either Rittenhouse Square condos or say Old City lofts, rather we sell in a variety of condominium buildings throughout the downtown Philly area.
We garner a lot of attention from our website, www.CenterCityCondos.com, and find that many buyers are flexible in either the area, or style of condominium they might want to see. Though we do not get a lot of crossover between those looking for a high rise or a low rise condo, we do see a lot of buyers who will want to look at a variety of condominium units within either a specific area, or units that offer a similar set of amenities- be it parking, a doorman building, or say outdoor space.
Being one of the very few (say, two or three) realtors in Philadelphia that specialize in condo sales, I do find that potential buyers who visit our site are impressed with the information and ease of use of our site. The only credit I can take in that area is that have been the one to write the checks for such attention. Actually, www.SizzlingStudios.com is the brainchild behind my popularity. I hope that none of my competition discovers their talents, as they really have put us “on the map” as far as visibility is concerned.
Some of the information on our site is garnered from nearly twenty years of experience selling condos and lofts in Philadelphia. Other info is gathered from a variety of sources-from other Center City realtors, local publications, and area condominium associations.
I hope that the information provided on our site is helpful to those considering a move here to town, or useful to those thinking of selling their Philadelphia loft or condo unit. Please know that we try to present information fairly and accurately, but sometimes may get a bit of incorrect info. Should you be aware of any info on our site that is incorrect, we encourage you to contact us and let us know where we might have erred.
And if you get an opportunity, and would rather listen than read, take a look at our podcasts. Each podcast is approximately eight to ten minutes in length, and our aim there is to educate and inform, as is the aim of our site.
We hope you enjoy your visit, and when it comes time to buy or sell your new home, we certainly hope you will consider us as your Philadelphia real estate agent!
Considering buying or selling in the Philadelphia real estate market? Consider us! We are your friends at www.CenterCity.com! You can call me directly at 215-521-1523 or send me an email at Mark@CenterCity.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St. Philadelphia, PA 19106
October 17, 2007
So I ran a quick search of Downtown Philadelphia Lofts, Homes, and Condos that are currently on the market. I searched Center City properties listed from $500,000-$1,000,000 with fireplaces. Can you believe I found well over 200 Philadelphia Lofts, Homes, and Condos For Sale with fireplaces? I wonder how many of those are wood-burning fireplaces?
I imagine that as lovely as those wood-burning fireplaces are, it may be more or less a hassle to get firewood in Downtown Philadelphia. What a shame it would be to think the fireplaces here in Center City sit collecting dust and aren’t used as often as they could be because their owners don’t want to spend their valuable time running around trying to find firewood.
Well, apparently, there are these nifty little logs called Duraflames that are available in stores all around Center City Philadelphia stores, including the local supermarkets and 7-11 and even Wawa, which everyone loves anyway because of their “no ATM surcharge fee policy”!
You can check them out on www.duraflame.com. They are pretty cool and actually they are even better for the environment than burning regular wood. (So call Aunt Suzy and Uncle Bob from the suburbs and tell them about it too!) They come in various sizes from about 3 to 6 pounds and one log burns for 2 to 3½ hours. I think my purse weighs at least three pounds so I should be ok to carry one or two for a few blocks in my new environmentally friendly shopping bag (you know the new reusable ones you can get for $1 or so all over Downtown Philadelphia supermarkets now!)
Another great thing is that you don’t need to track those heavy, dirty logs through your Philadelphia loft, home, or condo nor will you have to find a place to store those clunky things…..we all know we can find other uses for each and every precious square foot of our Center City Condominiums. You can pick up a few neatly packaged Duraflame logs and place them in a small cabinet or closet without worrying about getting anything else in there dirty. And when you are ready to use a duraflame log, you don’t even need to remove it from the package. That’s right! You can put the whole thing, wrapper and all, right into the fireplace! Better yet, you can LIGHT the ends of that wrapper and then the wrapper lights the log right up for you…..no kindling needed. I promise your hands won’t even get dirty! The inventor of these things must have been from the City.
If you are interested in buying a beautiful Philadelphia Loft in Old City or a Condo on Rittenhouse Square or a home in Queen Village, with or without a fireplace, give Mark Wade a call at 215-521-1523 or drop him an email at mark@centercitycondos.com Don’t forget to open the flue!
Nicole Noguer
Office Assistant for
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
October 15, 2007
We all know most of the Center City condos, lofts, and townhouses are pet-friendly, but is living in Center City really child-friendly?
I mean, we all think living in Center City primarily appeals to three groups:
• Single professionals
• Young couples who haven’t started expanding their families
• Empty nesters whose children have grown up and moved away or gone off to college.
It’s not too often that we hear someone say, "I think I’ll be ready to start having or adopting children soon, so maybe I should look into moving to Center City because that’s the best place to raise my family."
I say, what place can be more appealing than Center City Philadelphia for someone who wants to raise a child? For starters, your child will be brought up within walking distance of many of America’s famous historical landmarks. There are so many parks and museums here in Center City that your family weekends will be filled with activities well into your child’s high school days.
If you live in or near Society Hill/Old City, you can spend your free time strolling through Washington Square Park, Independence Hall or The Benjamin Rush Garden, or playing miniature golf at Franklin Square. And every child should Ride the Ducks just once, come on it’s not that bad (note to mom or dad: just be sure to discard of that quacking beak before you get home…haha!).
How about a little closer to Rittenhouse Square? You can experience:
• City Hall tours
• Love Park (and the large game pieces outside the Municipal Building across the street)
• Fountains that children of any age enjoy visiting on Benjamin Franklin Parkway.
• Rittenhouse Square Park’s amazing annual Holiday Tree lighting as well as other activities throughout the year.
Or the Art Museum area, where you have the:
• Art Museum
• Franklin Institute and just a bit farther the…
• Philadelphia Zoo!
No matter which area of Center City Philadelphia is your favorite, you’ll discover many attractions that will become you and your child’s dream place to visit. And they are all just a short walk or bus or cab ride away.
Ok, so we all agree there is a lot to do here, but you may be thinking, where will my child go to school? There are a ton of great schools here in the City that you probably don’t know about. Click here to find a list of Center City Schools. This site has the schools mapped out and separated into categories: public, parochial, charter and private.
There is even an awesome website to help parents find Center City daycare and before and after school programs. Type in your ZIP Code and someone will contact you with all the best centers in your area. Even better, most Center City office buildings have daycare centers right inside!
Living in a Center City condo can be an especially appealing lifestyle for parents who work in Center City. What a stress reliever it would be to spend that extra 45 minutes you would be stuck in traffic driving in from the suburbs, actually sitting at the table enjoying breakfast with your family. Imagine the peace of mind you’d feel having your child only 5 minutes away from your place of work rather than 45 minutes away at her school in Sicklerville, NJ.
Did you know that according to The Center City District 37% of Center City residents walk to work everyday? It’s great exercise and better for the environment… you can’t beat that!
So picture this… you sleep a little later in the morning; get to eat breakfast with you family; walk only a few blocks to drop off your second-grader at school; stop at Starbucks and pick up a latte; drop off your toddler at the daycare right on the first floor of your office building; and then after work, the family grabs a bite to eat at one of your favorite restaurants here in the city. You’d even have time (and energy) to bowl a game or two at Lucky Strikes or catch a film at the Ritz or just sit back and relax in your Center City condominium enjoying the City’s beautiful view.
Sounds pretty good to me….but let me know what you think. Leave a comment or send us an email and let us know if Center City is the place you would love to raise your family!
Interested in learning more about Center City living and Center City condominiums? Give Mark Wade a call at 215-521-1523 or drop him an email at mark@centercitycondos.com.
Nicole Noguer
Office Assistant for
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
October 10, 2007
I wish they did. I wish they would buy the ugliest condo I can find them. Red Formica coupled with plaid linoleum was hot at one time. But NOOOOO….my buyers have to have stainless, granite, and $3000 built-in Miele coffee makers. Not that there is anything wrong with that.
In a market like Center City (downtown) Philadelphia, condominiums that show well, sell well. The composition of the buyers is basically that of urban professional. The kind that are fully grown, and don’t own a lawnmower, have never used their convection oven, and don’t care to learn how to use their convection oven. Nor do they possess a desire to get familiar with a hand tool, like a screwdriver or a saw.
They will spend top dollar on Center City condominiums and lofts that show well, and are newly upgraded, and Philadelphia condos that lean toward the luxury, kind of urban, feel. The urban professionals work hard, and don’t have the spare time or knowledge necessary to upgrade the unit themselves.
WHEN IN ROME……..
Buying someone else’s cosmetically inferior Philadelphia condominium or loft can yield great savings. Generally, if the condo needs $10,000 in work, it will sell for $20,000 or more UNDER what similar Center City condos are selling for (that don’t need work). However, this is generally NOT what my Center City condo buyers are looking for. They work a lot, make good money, and would rather have someone else upgrade their new penthouse or luxury Philadelphia condo. And the thought of owning a power tool would send them over the edge.
It is a great day when I can sell a real stinker of a condo. May the linoleum in your new Philadelphia condo floor rise up to meet the acres of Formica on your countertops!
Whether you want a luxury Center City condo or an ugly "handy-man" condo, I can help you find the perfect condo to fit your needs. Give me a call today at 215-521-1523 or drop me an email at mark@centercitycondos.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St. Philadelphia, PA 19106
October 8, 2007
A low rise condominium here in Center City Philadelphia can best be described as a three to five story warehouse or townhouse conversion project.
Generally speaking, low rise Philadelphia condos are without an elevator. And almost always without a doorman, characterized by a lack of service, and thus coupled with a lack of high condo fees. Under the guise, you get what you pay for, well… you get what you pay for.
No one is going to walk your dog for you, return your videos, or help you unload packages from your car as you pull up in front of your Center City condominium building. A hallway light bulb needs replacing? Get your ladder. Such an approach to a Philadelphia condominium association may provide a feeling of fewer “rules” to live under and, therefore, make the condo association more appealing. However, they are certainly not appealing to every condo buyer in the market for a Philadelphia condo.
Low Rise Philadelphia Condominiums
I remember back in the late 1980’s when low rise Center City condos were making an appearance. You see, we’re about 15 years behind NYC as far as housing trends are concerned. Prior to the early 80’s, there really was no such thing as a low rise condo to speak of here in Philadelphia. Washington Mews, at 11th and Lombard, (the oldest condo association in the state of PA, I am told) was here, but that was about it.
During the Go-Go years of the mid-80’s, developers had the bright idea of taking a big row house/brownstone styled apartment or single family, and turning it into condo buildings. Everyone was doing it.
The historic tax credit, I hear, made this concept desirable for a number of developers. But to buyers, the concept was not widely accepted in Philadelphia. Buyers kinda’ kept away from this new idea of home ownership.
Then 1987 hit, and with that, real estate values tanked – especially here in Center City.
A very high number of these unsold units went to the RTC, and sold off for pennies on the dollar. I must have sold 100 of these units. Many for $25,000 each; many I had a tough time selling even at that price. I sold one at 238 N. 3rd Street. I think it sold for $32,000. I believe it just resold this year for about $250,000 (somewhere in that ballpark).
Low rise Philadelphia condos have come a long way since then. For example, in the mid-90’s, if you had $160,000 to spend, you could either buy a one bedroom on the 16xx block of Spruce or a two bedroom single family on, say, the 16xx block of Pemberton. It was the first time in Center City history, in my opinion, where the low rise became popular, sought after, and generally acceptable as a substantial residential purchase. Buyers were willing to trade in square footage, for a perceived better location. That trade off was made possible by the purchase of a low rise Center City condo.
Anyway, low rise Philadelphia condos are as much in demand as many of the high rise buildings. Generally speaking, in my experience, the buyer who is looking for a loft/ townhouse conversion (low rise) condominium is not the buyer looking for a condo in a high rise.
I don’t see a lot of substitutability as far as buyers who are willing to buy either a high or a low rise condo. With a wide variety of styles, structural and architectural elements possible, low rise Center City condos are seen as the “Hip” alternative to high rise condo living here in downtown Philadelphia.
Whether you’re interested in a high rise or low rise Philadelphia condo, let me help you find the perfect condo to fit your lifestyle. Give me a call today at 215-521-1523 or drop me an email at mark@centercitycondos.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Philadelphia, PA 19106
October 2, 2007
As a LONG time Philadelphia REALTOR®, I truly enjoy selling condominiums and lofts in downtown. I really find my work to be rewarding, both financially and emotionally. Now I know I am not a brain surgeon or a rocket scientist. I will never win the Nobel Prize for real estate in Center City. But I like what I do, and I enjoy helping others.
I started selling Philadelphia condominiums nineteen years ago. Back when you had to be out of your mind to buy a Center City loft or condo. And… even more demented to sell the stuff. But I knew no better and carved out a specialty of selling bank foreclosed Center City condos.
I quickly learned that the most rewarding kind of buyer is one that needs my help. They either need my expertise or simply my hand to hold. I was never really interested in selling commercial real estate. It seemed that everyone in the game of Philadelphia real estate in that arena were a bunch of big brains, who clearly knew more than I did… regardless if they actually did or did not.
I have found over the years that a first time Philadelphia condominium buyer is almost always a pleasure to deal with. Their need to seek advice, and do their homework, and feel comfortable with their real estate decision is a process to which I can contribute, and feel good that I’ve helped another person.
Self-congratulatory? Possibly…but I do like when I can help.
And it has never been about the size of the transaction. That has never been a motivating guide for how I choose the buyers I actually end up working with. Having a buyer who wants to spend a lot of money on a Center City condominium or loft is great, but certainly not a guiding force when I meet a new buyer.
And I love out-of-towners. I love to show them all the Philadelphia condos I can… help them make a decision… then see them a few years later. I don’t ever recall one of them disliking our town! And that is a good feeling. Though the quality of life here in Center City has little to do with me, it just kinda’ solidifies my testimony that, say, 19106 is a very nice ZIP Code in which to reside. Or, that the Hopkinson House is a great building.
So, thank you to every buyer and seller I have dealt with here in town. I appreciate your business, and I hope to see you again one day, walking down the street, smiling. I know I am.
Are you ready to work with an agent who knows how to give you the edge over other Center City condo buyers and sellers? Call me today at 215-521-1523 or drop me an email at mark@centercitycondos.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Philadelphia, PA 19106
October 1, 2007
I, Mark Wade, of Prudential Fox and Roach REALTORS® here in downtown Philadelphia am a real estate snob.
I haven’t really hidden that fact over the years very well. I kinda’ think that I’m actually pretty groovy. I have lived here in Center City Philadelphia for just over twenty years, and I have been a Society Hill REALTOR® for over eighteen years (I say that because my office is physically in the Society Hill area). I have never owned a lawnmower, a driveway, or a weed whacker.
I sometimes chuckle when I speak to, say, a mainline real estate agent who might happen to wander into town to show a Philadelphia Center City condo or loft listing of mine. I chuckle because the first thing they ask is if there is parking on premises. Perhaps they are new to urban living. See! There I go again!!
My boss at Prudential Fox and Roach REALTORS® told me years ago that I was a real estate snob. I was aghast. Certainly not I, I exclaimed! Then it hit me. I’ve been known to tease those who own more than two cars, have more than three bedrooms, and drive more than four miles to go to the local grocery store.
I often believe my superior knowledge of the best streets to use to get to Rittenhouse Square condominiums somehow legitimizes my coolness. I know when to avoid Spruce Street, and when not to try to make my way around 13th and Pine Streets. Heck, I even go for days without seeing my car (at least when I parked it in a garage over near Fitler Square). I have no time for massive amounts of traffic (urban Philadelphia surprisingly has little traffic as compared to say the Mainline area in the suburbs), and would never be caught dead on the Schuylkill expressway.
Though at times, I must admit that I am a bit envious of our suburban friends.
That couch in their living room…the one that is the size of my Lexus?! I would love such a lounge destination. That thing you pull your car into…attached to their homes… the area that also holds the rakes, snow blowers, and the trashcans? I would love one of those!
There are very few Philadelphia condominiums with such a “roofed” luxury. And don’t even get me started about the size of the shopping carts they get to use when they go grocery shopping. They are huge! And did you know they sell lawn chairs and rent videos at their grocery stores out on the outskirts of life? They do! Not in my Philadelphia REALTOR® life. My grocery hand basket never holds enough, and I am sure there is not a lawn chair for sale within 15 miles of where I am sitting.
Looking for a Center City condo or loft or a Rittenhouse Square condominium? I can help you get the best price and terms. Give me a call today at 215-521-1523 or drop me an email at mark@centercitycondos.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Philadelphia, PA 19106
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