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March 25, 2013

High Floors- Worth The Higher Price?

Filed under: Center City Real Estate,For Buyers,For Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 8:45 am

     It is no secret that new developments in Center City are primarily priced according to not only the size of the Philly condo, but also the floor height. Sometimes asking prices are as much as $50,000 per floor. And to some degree, I get it. Higher floors usually always mean a better view, perhaps more prestige, whatever. Though not everyone wants to be on the top floor of any given building around town. Sometimes the lower floors give really nice tree or treetop views, which can be in demand as well.
     But what happens to that paid premium over time? Does that equation pan out in 50 years? Look no further than say the Hopkinson House, or Society Hill Towers for that answer.
Here is my Two Cents:
   Over time, floor height value has a tendency to erode. Sure, given the opportunity, a great many buyers would rather be on a higher floor for the views, but I do not believe that this is the guiding light of value. Over time, the value equation points more squarely on interior condition….and that is not a reflection of any given Center City Condo.
   A gorgeous unit on a low floor at the Hopkinson House can indeed garner a higher sale price than an average looking unit on a higher floor (Note- major caveats here….a low floor unit with zero view, overlooking the trash dumpster might cause a low floor to generate a low offer).  Now if two units are 100% identical in an older building, sure- we will likely see a premium paid for that higher floor….but I would suggest that the equation more hinges on interior condition as the driving force in resale value.
   So should you pay the premium for a higher floor? That is up to you. I am just sayin’ that I do not think that higher floors necessarily garner a higher sale price as the years go by- I think the value is more reflective of interior condition. So maybe you don’t see the return on the investment- but for many, the kick-ass views are well worth the initial investment.
   So in the end- the premium paid for a view is your call.  We recently bought on the 9th floor of a new highrise here in town- kinda’ in the middle of the building overlooking treetops which we thought provided the view without to paying too much of a premium.

 

 

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January 29, 2013

Guest Post: Tips That Will Help You Get The Most Of Your Condo Rental

Filed under: Center City Real Estate,For Buyers,For Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 10:54 am

Follow these tips to make your Philadelphia condo truly feel – and look – like home.

1. Chances are, your condo isn’t as huge and spacious as you would like. Luckily, you can easily make your space look and feel larger than it is by keeping clutter away, creatively organizing and strategically placing mirrors around the apartment.

2. Sometimes, life just gets in the way of a lease. Don’t be scared into staying in an condo you no longer want because of the apparent lease penalty. You can smartly break your lease without spending all of your savings. Know your rights and don’t hesitate to negotiate with your landlord.

3. There’s no such thing as the perfect landlord and some are downright awful. That doesn’t mean you should have to deal with a leaky faucet or pest problem by yourself. Try a few different communication techniques until you find one that gets you the response you need.

4. Few condo dwellers are lucky enough to have a washer and dryer in their home. Minimize trips to the laundromat by using a bath sheet instead of a bath towel. This is especially helpful if you often use two towels after a shower – one for your body and one for your hair.

5. Living alone is great, but it’s not the safest option. Amp up your at-home security by keeping it under wraps that you live solo. You don’t have to lie, but don’t advertise that you don’t have a roommate or live-in boyfriend.

6. If July and August is brutal where you live, you’re probably used to holing up inside with the air conditioning on full blast for eight weeks during the summer. This is a huge expense, though. Cut electricity and costs by using the AC’s other settings, like the fan and the timer.

7. Think you smell a rat? Deal with it! Pushing the problem off until you can’t mentally handle the rodent isn’t going to get rid of it and the problem will only get worse.

8. When you can, fix your own run-of-the-mill apartment problems. If you really want your landlord to be there when you need him, don’t bug him if a light bulb blows or the toilet clogs.

9. When you have the heat on, set your ceiling fans so they turn clockwise, which will help warm the house and cut your heating costs.

10. If things go truly wrong between you and your landlord, you can turn to online dispute resolution.

Annabelle Smyth

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January 22, 2013

Guest Post: Renovating Condo Units

Filed under: For Buyers,For Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 11:36 am

Renovating a Philadelphia condo unit brings with it challenges that homeowners simply don’t face. Unit owners must comply with condo rules and regulations, consider how noise affects neighbors and work within the building’s larger electrical or plumbing systems. Careful planning before renovations helps prevent problems with the condo association and staff.

Unlike a house, when you purchase a condo you only own what lies within the unit’s walls. You cannot renovate public areas, other people’s units or the building’s utility infrastructure. This is necessary, in part, to ensure the building maintains its overall feel and appearance.

Check Everything

Well before you commit to any condo renovations, read over the condo association’s condo docs to find out what types of renovations are permitted. Different condo docs have different restrictions. You’ll probably need to submit a plan of renovation, in writing, to the condo association.

Generally, most condo agreements allow you to paint, install new appliances, replace lighting and plumbing fixtures and replace flooring. More complex renovations such as rerouting plumbing or electrical wiring and knocking down walls require approval by the condo association.

Renovations requiring work in adjourning units are least likely to be approved, as this inconveniences other residents. Extensive plumbing and electric work may fall into this category.

Working with Contractors

Renovating a condo often means working several stories up, rather than on the ground. This complicates materials delivery, heavy equipment transport, waste removal and even contractor parking.

Ask your condo association if they can recommend contractors with experience in condo renovations. Contractors need experience working in the tighter confines of a condo unit, and keeping noise to a minimum for the sake of your neighbors.

Renovations will go smoother if you coordinate with condo staff. Doormen and other staff need to know when contractors will be on-site, when they will be moving heavy items and your renovation schedule. Early planning and frequent updates help prevent miscommunications and hard feelings. If your renovations require access to the building’s plumbing or electricity, arrange for access well ahead of time.

Considering the Neighbors

When renovating a house, contractors usually work late into the evening, so the job will inconvenience you as little as possible. In a condo, you have to consider how renovation noise and dust affect your neighbors.

Most condo associations have strict noise regulations and limit the hours during which contractors can work. These are reasonable restrictions; your neighbors share walls, ceilings and floors with you, and don’t want to be disturbed late into the evening.

Let neighbors know your renovation plans well in advance so they don’t get blindsided by unexpected noise. Be polite and understanding–after all, you’re inconveniencing them, not the other way around. When renovations are done, express your thanks to neighbors for their patience.

Byline: Michelle is an aspiring writer with a passion for blogging. She enjoys writing about a vast variety of topics and loves that blogging gives her the opportunity to publicly voice her thoughts and share advice with an unlimited audience.

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January 17, 2013

Guest Post: Five Essential Steps to take Before Moving to a New Country

Filed under: For Buyers,For Sellers,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:53 pm

Whether you have been offered a job in a new country or are simply looking for a change of scenery in your life, moving to a new country can be a very exciting experience. Still, before you make such a drastic change, there are five major steps that you should make sure that you take in order to ensure as smooth a transition into your new life as possible.

Do plenty of research.

Depending on the specific country you will be moving to, the culture there may be very different than what you are used to here in Center City Philadelphia and may take some adjusting. By researching the culture, norms, and languages of the country ahead of time, you can avoid culture shock upon your arrival.

Learn the language.

If you are moving somewhere that has a different official language than what you are used to speaking, you may want to invest in some language classes or language-learning software. After all, the last thing you will want is to be unable to communicate with others upon your arrival in the new country.

Research immigration laws and requirements.

If you plan on living in the country long term, then you will likely need to establish residency and citizenship. Countries vary regarding how long you have to do this and what specific steps you need to take, so be sure to research this ahead of time and bring the necessary documentation and paperwork with you to make this happen.

Decide where you will live.

Consider hiring a real estate group to assist you with locating a home, apartment, condo, or other property to live at once you move there. For example, you may wish to consider the LWP Property Group, which is a reputable real estate company that can assist you in finding the perfect new place to call home. Keep in mind that living quarters can vary greatly from country to country, especially in terms of their average square footage and the amenities offered.

Plan a moving budget.

Moving to a new country can be quite expensive, which is why you should set a budget and do your best to stick to it. This is especially true if you do not have a business or company that will be paying for your move. Price different moving companies and related services to find the best deals in order to save money.

By following the above steps, you can ensure a successful move to a new country. Good luck!

About the Author: Madyson Grant enjoys spending time with her family and blogging about her experiences in her new home. Feel free to find out more!

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January 10, 2013

Guest Post: Feng Shui Secrets for a Tranquil Condo

Filed under: For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 10:48 am

Certain homes or Philadelphia Condos seem to exude a feeling of tranquility and wellbeing, and the root of this overall sense of harmony has a lot more to it than the pretty slipcovers or antique armoire.

Western designers, interior decorators and architects are increasingly turning to an ancient Chinese study of natural elements called Feng Shui to create serene and comfortable environments. Spaces which have been arranged according to the basic tenets of Feng Shui are believed to be very auspicious, bestowing upon their inhabitants health, wealth and good fortune.

Feng Shui strives for balance between yin and yang, and between the natural elements of fire, water, earth, metal and water. There are practical steps which can help to achieve a balanced, calm living space which will allow the mind and body to find its own inner balance and peace.

De-Clutter

Get rid of clutter – an unrestricted path from the front door and throughout the house is first and foremost in creating positive energy. Dispose of clothes, knickknacks, and possessions which are no longer meaningful or essential.

The Bedroom

To create a Feng Shui ambiance in the bedroom, dedicate the bedroom solely for relaxation, sleep and love – that means keeping electronics to a minimum and no treadmill or office desk. Situate the bed (preferably one that is slightly elevated) against a solid wall away from the door to promote relaxation, and adding symmetric bedside tables add a sense of balance. To achieve Feng Shui in the home on a budget, a rent to own store is an option to consider if replacing or adding furniture in any room.

Furniture

Arrangement and placement of furniture is key to energy flow. If your living room furniture is oversized, blocking passageways, tattered and torn, or mismatched, then it’s time to rearrange, move out, fix up, and beautify! Start by walking into the room in question, and look around, what’s the first thing you see when you walk in? Can each chair/couch be accessed easily? You want your furniture to be accessible, make it so no shins will be knocked on that coffee table, that the room it inviting and organized, and that every piece of furniture is compatible with Feng Shui principles.

Details

Lots of fresh air, natural light, natural materials and accents such as bamboo, chimes are also recommended. Adding a strategically placed mirror in the bedroom and elsewhere in the house can multiply the calming effect of a meaningful ornament or a beautiful window view. But there are basic rules for mirror placement; the mirror is to never be broken, never to be placed adjacent from one another, and never placed in front of a window or door.

Colors

Color is an important component of Feng Shui, think about balancing the color wheel – not too hot and fiery and not too cool. As a rule of thumb, try red as an accent color in the bedroom, but definitely not on a full wall, yellow for a family room and kitchen, blues and blacks for work spaces and greens in the bathrooms.

Melisa Cammack

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November 29, 2012

Getting Around Those Corners: Efficient Condo Moving (Guest Post)

Filed under: For Buyers,For Sellers,Of Interest to Buyers,Of Interest To Sellers — Center City Philadelphia Real Estate Agent @ 9:25 am

After making the decision to move out of your condo and into a new home, you have a lot of work ahead of you. Moving into a new home can be a lot of work, but proper planning on your part can help you to ease the amount of time and effort needed to relocate. Consider following these tips as you prepare to move.

Review Your Lease

As a first step, read your lease and take note of how much notice you need to provide to your landlord before you vacate the premises. Also, pay attention to the special move-out rules. For example, some leases may require the property to be professionally cleaned before you turn in the keys.

Consider Cleaning and Repairs

In many cases, a rental agreement states that a landlord can withhold your security deposit for any damages made to the property, so consider patching up holes, replacing burnt out lights, cleaning out the oven and other steps as needed. These efforts can take time, so you may consider getting started on some of them immediately after you provide your landlord with written notice of your intent to vacate.

Start Packing

Some people will wait until the last minute to start packing with the belief that they need everything in their place to live comfortably. In many condos, however, items like photo albums, DVDs, books, seasonal clothing and more can be packed up weeks ahead of time. Consider temporarily renting a storage unit, for example, self storage Philadelphia PA, to keep items safe and out of your way as you prepare to move in the coming weeks.

Look For Movers

One of the best steps that you can take to ease the stress associated with moving is to hire a moving company. A reputable moving company can easily relocate your boxes, furnishings and other items quickly and safely on moving day. This provides you with more time to clean your old home and start settling into your new home.

Transfer Services

Approximately one to two weeks before your moving day, contact your water company, utilities service providers, phone service and cable company to notify them of your plans to relocate. You may be able to cancel service in your existing home and schedule new service in your new home with a single call if moving inside the same city.

Contact the Post Office

You should also contact the post office with details about your relocation. You can fill out a change of address form at the post office that includes a mail forwarding service. While you want to call your car loan company, credit card companies and others who send you regular statements and provide them with your new address, you also want to ensure that mail that is sent to the wrong address is forwarded to your new home.

Because there are so many things to do to prepare for a move, it is wise to establish a schedule of to-do items now. You can work through the items on schedule, and this can drastically reduce your stress level during this busy time in your life.

Melisa Cammack

Author Bio

Melisa Cammack has been freelance writing for several years, she loves spending time with her three sons and her husband, as well as preparing for their unborn baby to arrive in mid-March.
Melisa is currently promoting Extra Space Storage – Brighton location, and wishes everyone a safe and efficient moving day.

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October 18, 2012

Guest Post: Creative Kitchen Organization Ideas for Your Build or Remodel

Filed under: For Buyers,For Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 10:25 pm

The kitchen is the room in your Rittenhouse Square Condo where families typically gather to begin their day. It’s the first room that family members visit when they return home as well. With so many comings and goings, it’s easy for the busy room to become a catchall for clutter. Items totally unrelated to cooking and eating, such as books, bills, backpacks and bags, often find their home here. A kitchen remodel or addition offers you the opportunity to plan ahead for all the activities that take place in your kitchen, with storage solutions that will make the utilitarian room as stylish as it is functional.

Because kitchen cabinets typically take up to 30 percent of a kitchen remodeling budget, you’ll want to ensure that the cabinets not only look  great but provide the storage solutions that your kitchen needs to keep clutter at bay. Pull-down shelves, slide-out towel bars and pull-out waste bins help keep frequently used items accessible. Look for cabinets with hardware that enhances functionality too, such as self-closing slides on drawers.

Consider including a zone in the kitchen’s layout for non-food-related activities.  Once you’ve designated specific areas for non-cooking activities, you can help keep the related materials organized with containers, baskets and trays. Deep trays are a kitchen organizer’s best friend. Trays not only allow you to keep an assortment of related items together but are easy to transport to and from a cabinet as well, letting you whisk clutter
out of sight quickly and easily. Trays are great for managing the dreaded “junk drawer” too.

Store the items that you use the most, such as large utensils and knives, on the counter in attractive containers. There’s no reason why storage solutions can’t add visual appeal to the overall look of your kitchen while make the heart of your home more functional too.

Author Bio
Jennie owns and manages several self storage units in Fontana CA. She recommends using Extra Space Storage in Las Vegas to her friends and family in the Las Vegas region. Away from work, Jennie enjoys spending time with her three young boys and her beloved dog Rex.

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October 16, 2012

Simple Refrigerator Maintenance Tips From US Inspect

Filed under: Center City Real Estate,For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 11:42 am

This video provides several maintenance steps to help keep your refrigerator running at peak efficiency. Refrigerator maintenance is undoubtedly one of the most overlooked tasks in the home.

You depend on it 24×7. It is expected to provide cold drinks and refrigerated food upon demand. You want it quiet and efficient. While mainly maintenance free, your refrigerator does demand a little maintenance at least twice a year.

Don’t forget to check seals for leakage and repair when necessary. It’s possible you may need an appliance specialist to find the correct parts and install properly.

Do you have pets in your low rise Philly condo? Maybe you should be inspecting your refrigerator more frequently.  Hair and debris buildup under your refrigerator is very common and makes your refrigerator work much harder than it should. It is also a fire hazard when allowed to buildup to an excess.  Vacuuming the coils is the safe and prudent thing to do and should be on your list of kitchen maintenance tasks.  The benefits are saving energy thereby saving dollars, and keeping your family safe.

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

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September 28, 2012

The Dying Art of Open Houses

Filed under: For Buyers,For Sellers,Real Estate: Condominiums,State of Marketplace — Center City Philadelphia Real Estate Agent @ 1:58 pm

Remember the olden days when the Sunday paper would arrive and you would get our your red felt tipped marker, then circle the open houses you wanted to see?

That was so 1997….

Those days are all but gone- having been replaced by the advances in internet marketing for Philly condos. Additionally, more and more buildings around Center City are forbidding agents to hold Open Houses- ever.

It is said in Real Estate circles that open houses are NOT for sellers- they are for agents trying to pick up buyers. To a degree, I agree. More so with the fact that videos, virtual tours, podcasts, blogs, multiple photos, etc are easily found with a quick Google search. And most Realtors’ websites can give you a lot more than you can learn at an open house- think neighborhood stats, crime reports, etc. not to mention the gossip and dirt you can pick up on your neighbors house.

If someone is seriously in the market for a condo, they are going to view your listing if they are interested- Open House or not.

I usually find that Open Houses tend to cut down on the weekly traffic- the more people who see it at an open, the less weekly appointments one will find in terms of buyer traffic.

And of course, we are all aware that Open Houses usually beget nosey neighbors, passersby, and the like.

With overall traffic down on Open Houses over the past decade (in my experience)- how long before Open houses will go the way of print advertising for Real Estate?

Probably not long.

FYI-Center City Open Houses are usually ONE hour only- Get in, then get out. Suburban agents can spend 3-4 hours at one open house. How utterly boring. I think I’d rather drink bathwater than to sit in a house on a Sunday for four hours.

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

 

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September 24, 2012

Never Piss Off Your Doorman

Filed under: For Buyers,For Sellers,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 9:52 am

What are you..new to these parts?

If you want your packages and your guests to come and go without being tortured or be put through a lengthy inquiry, then listen up-
Folks who live in Doorman buildings quickly learn that the way to get anything done through the building is through the doorman. Unless perhaps you live in Society Hill Towers (a polite jab at one of the best run buildings in town) and they quickly learn to always be polite and friendly to all doormen at all times.

From fetching your car, to walking your dog- doormen can make your life easy and they often will go the extra mile for Philly condo owners they like. And being greeted each time you come home with a smile is a nice thing. Having a doorman who doesn’t like you is not a walk in the park.  Believe me, I learned the hard way back in the late 1980’s  by being rude and pushy. I no longer live in that building, and I now treat doormen with respect. You should too. Your life will be made much easier if you never piss off your doorman. They are great for learning of building gossip too…they seem to know everything. Oh, and tipping? Should be done if they go the extra mile. AND during the Holiday season.

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

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