Philadelphia Real Estate Blog

Quick Center City Condo Sales Stats 2011 Year to Date

Zip Code    Number of Closed Sales         Low Price     High Price

19102                 90 Sales                                       $188,500 –       $2,200,000

19103                362 Sales                                       $48,000 –        $4,850.000

19106                 199 Sales                                      $105,000 –       $2,200,000

19107                  130 Sales                                     $55,000 –          $1,306,000

19123                  119 Sales                                      $35,500 –          $1,000,000

19130                  158 Sales                                     $78,000 –          $575,000

19146                   65 Sales                                      $101,000 –         $1,700,000
19147                  104 Sales                                     $149,900 –            $950,000

I have seen some pretty cool decorating ideas in many condos throughout the Center
City Philadelphia condo landscape. And I have seen some mistakes as well. Here are
just a few ideas off the top of my head…decorating mistakes that don’t play well in the
resale market:
1) Putting a shiny clear coat of varnish of exposed brick walls
2) Installing carpet in a lower level area- be it a kitchen or bedroom
3) Using florescent lighting anywhere when trying to sell a condo
4) Hollow core white doors with brass knobs and hinges- Try painting a neutral color
5) Vertical Blinds. Need I say more?
6) Colored carpet. Any color of the rainbow in terms of carpeting is bad. Stick to neutrals or dark
    dark dark low pile brown.
7) Less is more. Condo by definition are usually limited in size. Get rid of the crap that has  been
   piling up- aka: Clutter.
8)  The Matchy Matchy Look- curtains match the tablecloth, the carpeting, and bedspread. Ick.
Here is a GOOD idea….
If you have some exposed brick, try painting it a really cool light color (like grey) and finish it with  matter finish (flat). You can thank me when you see the appeal it can have with buyers.

Mark Wade

Lovely Painted Brick adds huge emotional impact

www.CenterCityCondos.com

Biggest Misconception – Buying a Condo in Center City

1) You are going to find a condo where you don’t have to pay condo fees!
Of course you are, dear. Perhaps the common elevator runs on magic pixie
dust, the doormen are happy to work for free, and the swimming pool needs
no maintenance or upkeep. Aka- Rub a Lamp….all condos have condo fees.
2) You are going to move into Center City and walk everywhere.
I love it when buyers tell me this.  Like the giant soaking tubs in many 1980 styled bathrooms       this notion will wear out quicker than you might believe. You will walk at first- then you will drive or take a cab everywhere after year 1 of moving into town
3) You need a 3 bedroom condo so that you can have a spare bedroom. Very often- not
the case. Friends or relatives will stay at a hotel that is two blocks away.
4) Since you have a gym within my building, you are going to work out more.
Good One. And good luck with that- let me know how it works out for you.
5) You need a large kitchen, because you like to cook. Ever wonder why there are
so many restaurants in Center City? You will probably find yourself eating out a LOT
more, and cooking a lot less.

Certainly these rules don’t apply to all, but do apply to most of those looking to make a
move into the Center City condo lifestyle.

Some of the most sought after condo buildings here in Center City are on or very close to lively blocks that are full of activity, or they are on or near bus routes, and can have a close proximity to highways. This is very convenient but can be noisy!

Having constant noise outside your dining room or bedroom could be a big problem. So, I devised a kinda’ cool solution that works like a gem. And in the scheme of things, really doesn’t have to cost a lot.

Here’s the solution: Replace your windows (genius, eh?)!

Depending on where you live in downtown Philadelphia, you may have a fairly strong historic association who mandates the type of window replacement you must use.  However, this does not preclude you from installing another set of windows INSIDE the historical set.

You can add a double paned, inexpensive vinyl clad INSIDE the outer set of historically approved windows, giving you a total of 3 or 4 panes of glass between you and the noise.  This ingenious little set-up demonstrates how you can effectively keep all city noise out of your Philadelphia loft or condo.

You don’t need to live 30 feet from the highway or live in a super luxury condo building to benefit from this idea.  Such insulation also provides extra protection from cold, heat loss, and dirt that gets inside of other single paned windows!  To Keep the Value in, You Must keep the noise out!

If you’re thinking of buying or selling a Center City condominium and want some more tips, I can help.  Give me a call today 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. Philadelphia, PA 19106

There was an article last week in the Philadelphia Inquirer that suggests more Philadelphia Condos are being rented.  Here is an excerpt from the article:

Because the focus of residential construction during the boom times was on for-sale housing rather than rentals, there aren’t enough high-end apartments to go around now.

“We are finding the high-end rentals to be almost nonexistent, as they rent fairly quickly,” said real estate agent Mark Wade, of Prudential Fox & Roach.

Condos near the University of Pennsylvania and Thomas Jefferson University “have a built-in demand for rentals, and we have seen that equation play out year after year,” Wade said.

Read more here:

http://articles.philly.com/2011-06-01/news/29608739_1_rental-apartments-rental-units-center-city-district/2

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach Realtors
530 Walnut St. #260 Philadelphia, PA 19106

Race Street Pier officially opened today! This is the first new public space of its kind located on the Delaware River as part of the Delaware River Waterfront Corporation’s ambitious new plan.  The Pier reconnects the City to the River, activates the water’s edge and establishes the pier as a distinctive new public park for the people of Philadelphia. Click to read more about The Race Street Pier.

This is a great new park for Philadelphia condo owners and Philadelphia condo buyers. If you are interested in purchasing a condo in Philly, give us a call at 215.521.1523.

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

Please come out with your Mom for a stroll this Mother’s Day and stop by our Center City open houses on Sunday, May 8.

Noon-1:00PM
38-44 N. Front St. – The Winne Condos – 12 bank owned units with unique floor plans, wood floors, top-of-the-line kitchens & baths, recessed lighting, high ceilings, landscaped courtyard. FHA Approval pending – Starting at $215,110

736 Pine St. Unit D – 2-bedroom condo in Society Hill with central air, family room, basement, 2 decks, & parking. Distinctive & delightful! $499,900


736 Pine St. Unit F –  Sunny 2 bedroom condo, private entrance, open floor plan, California closets, granite/ss and tax abatement $349,999

1:30PM-2:30PM
117 S. 16th St. #400 (aka 1551 Sansom) – Entire floor! Very Large 1 bed/1.5 bath condo- corner unit- tons of light. Hardwood floors- Elevator opens directly into unit! Mint Condition, good closets $359,000

103-07 Church St. #9 – Tons of Old City charm. Tall windows, hardwood floors, exposed ductwork, open granite & stainless kitchen. Lrg quiet MBR has natural light & good sized closet w/en suite master bath. ASKO w/d $299,999

3PM-4PM
912 Spruce St. #8 – 1 bedroom located to the rear of building away from any street noise, high ceilings, stainless steel appliances, low condo fees, move-in condition at an unbelievable price! $229,000

We hope to see you there! To view all of our Philadelphia Real Estate Listings, including Philadelphia Condos visit www.CenterCityCondos.com.

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach Realtors
530 Walnut St. #260 Philadelphia, PA 19106

We just listed the dozen remaining units at the Winne building at 38-44 N. Front in Old City.

Finally, these units have great prices on them, and they are in the process of being FHA approved. From one to two bedrooms, priced as low as $216k!

Give us a call at 215.521.1523 to make an appointment to see these groovy Philadelphia Condos today!

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach Realtors
530 Walnut St. #260 Philadelphia, PA 19106

If you plan to put your Philadelphia Condo or Home on the market, you have to check out Drew Callaghan Photography. He does great work that will go a long way at showing off your Condo’s Showing Ability! Here are a few of his amazing photos:

You can contact Drew at Drew@DrewCallaghanPhotography.com or 215.431.3384.

See more at: http://www.DrewCallaghanPhotography.com/

Mark Wade
Prudential Fox and Roach Realtors
www.CenterCityCondos.com
530 Walnut St. #260 Philadelphia, PA 19106