Philadelphia Real Estate Blog

The anticipation of a new condo project can outweigh the reality of the finished product, as buyers really aren’t sure of how the finished project is going to sell, once completed. Or how the finishes are going to translate into the emotional draw, or the lack thereof, that the project is going to emit, once completed.  Developers have gotten good at building hype, and selling the sizzle that accompanies the excitement of buying a new construction condominium. But sometimes the sizzle can outweigh the reality of the product. An easily lead buyer can find themselves caught up in the excitement, and neglecting the details. Seeing a developer’s prior work, or building products can be a big help. Also, being extremely thorough can be a big help. Ask lots of questions. If the developer doesn’t have answers for you, then ask if you can reserve a unit at a particular price, until such questions are answered. Or finding a great realtor with experience in the field can be a big help.

Sizzle does indeed sell new condominiums. Any you don’t need to be ordering steak to discover that a reality check may be in order if you find yourself being lead by your emotions. Doing your homework, and asking questions is the key to avoid being stuck with a tough, rubbery cut of real estate.

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

Yahoo came out with a great real estate article this past week about how Philadelphia Condominium and Home prices have stayed steady!  Here is a quick excerpt:

“Philadelphia bashers like to note how the city doesn’t quite keep pace with its northeastern neighbors New York and Boston. When it comes to real estate, that may be a good thing. While prices in the Big Apple and Beantown soared during the bubble years from 2003 to 2006, the City of Brotherly Love charted slow and steady growth. Over the past year, Philadelphia prices have stayed stable, while New York and Boston suffered small declines. And only 7 percent of Philly-area homeowners sold for a loss in the past year, according to Zillow — well below the national average of almost 24 percent.”I personally advertise on Zillow, so I think they are a great informative site! You can also check out my listings at my site CenterCityCondos.com. As you can see Philadelphia seems to be a great place for a long-term investment so give me a call at 215.521.1523 or send me an email at Mark@CenterCity.com if you are interested in making a Philadelphia Condominium your next home!

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

I love the little tricks that real estate agents sometimes attempt in order to try to “pull one over” on my buyers.

Guess What? They Ain’t fallin’ for it….because I am going to take the time to educate them about the little nuances of realtors here in town.

For instance, that listing where a realtor may have yanked a listing off the market for 2 days, then put it back on the market in order to make it  appear “new”? Not going to happen….the MLS now lists the TOTAL days-on-market and makes apparent just how long your listing has been sitting.

A personal favorite of mine-Realtors who list the properties as having parking, then at the bottom of the MLS sheet it says-seller will pay for one year paid parking in some garage somewhere.

DO YOU THINK I AM NEW TO THIS PLANET? I am not. Neither are my buyers. Nice try though…..

Oh, and the sneaky way you might submit your new condo to the MLS, and “forget” to add in the square footage? This simply tells my buyers that your condo may be overpriced for the size, and you just don’t want to admit it.

I work hard to be truthful and honest with my buyers, and I am going to reveal every trick in the book that realtors may attempt in order to get their listing some ill-deserved attention.

My buyers are not stupid, because I am not stupid. So there 🙂

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

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