Philadelphia Real Estate Blog

I like programs on TV about real estate. I think the shows are timely, relevant, and interesting. A nice combination of education and entertainment centered around a topic everyone likes to talk about- Real Estate buying and selling.

Here are some ideas I have for TV programs that I would like to watch, because as a Philadelphia REALTOR, I encounter a plethora of situations I believe are worthy of their own TV segments:

Buy a Home From Me… or Get out of My Car- A show where buyers who really are not interested in buying, but just want a guided tour to see some cool homes, are called on the carpet.

Lazy, Stupid REALTORS- A show featuring some of the lazy stupid things REALTORS do… Like advertising open houses, and then not bothering to show up for it.

Buyers- What Are You, Nuts? – A show where buyers grossly overpay for a home simply because they like the way the home shows and/or because of the cleanliness of the interior.

Sellers- What Are You, Nuts? – A show where sellers want to sell their homes for more than any other house in their ZIP code because they “KNOW” their home is the nicest in the entire area.

Yes, You Have to Pay Condo Fees – A show that captures the quizzical looks of buyers when they learn that the Center City condo front doorman doesn’t work for free. Or, that the elevators do run on electricity, which results in a common bill for ALL condo owners.

You Want to Buy WHAT?? – A show that features buyers who purchase the polar opposite of what they tell their REALTOR they’re looking for.

Any Closet is a Walk-In Closet if You Try Hard Enough – A show featuring the silly things that come out of REALTORS mouths when trying too hard to make a sale.

Fighting Spouses – She wants a Philadelphia condominium; he wants a Center City loft. The differences play out before the cameras! Or, she wants to buy, he doesn’t.

Parents Say the Darnest Things – So eager for their kids to move OUT of the house, parents find a positive side to the worst possible properties on the market!

Let me help you make sure your Center City real estate transaction doesn’t become the next hit reality show. Give me a call today at 215-521-1523 or drop me an email at mark@centercity.com

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

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

When people think of Philadelphia, they think of the Liberty Bell and Independence Hall. But tall buildings don’t often come to mind, probably because a certain city a few miles north has the skyscraper title sewn up. But Philadelphia, particularly Center City, is giving the Big Apple a run for its money.

City Hall used to be the one true skyscraper in Philadelphia; in fact, it was the tallest building in the world from 1901 to 1908. But over the last 25 years, many other buildings have been erected in Center City that not only tower over City Hall, but also give Philadelphia its breathtaking skyline.

Current Center City Giants
Philadelphia’s structures remained low-rise because for years the city’s leaders had a “gentleman’s agreement” not to build any structure higher than the stature of William Penn that sits on top of City Hall. This agreement was severed in 1987, and now several structures share the sky with City Hall, including:

One Liberty Place: This 61-story, 945-foot skyscraper was the first to break City Hall’s record as the tallest building in town. Today, it’s home to some of the largest law firms in Philadelphia and the biggest financial services companies in the world, including AIG, Merrill Lynch and Cigna.

Two Liberty Place: This 58-story, 848-foot skyscraper complements the commercial focus of its sister building with a condominium complex, a shopping mall and a 14-story hotel that’s home to the kind of wedding reception Harrisburg residents love to throw.

Comcast Center: As you might imagine, Comcast is the biggest tenant in this 58-story, 974-foot skyscraper, which now holds the title as Philadelphia’s tallest building. But other corporations like Citizens Bank of Pennsylvania lease space, and numerous shops and restaurants cater to tenants and passersby alike.

New Kids on the Block
Maybe you think Philadelphia would be happy just with these impressive buildings, but why stop at a few skyscrapers when you can have many? Plans are underway to build skyscrapers all over the city, including two in Center City.

Originally slated for groundbreaking in 2008, construction on Mandeville Place was delayed until December 2011. Following completion, it will house 45 condominiums on 43 floors, plus an 8-story hotel that observers expect will host a buffet Harrisburg PA residents and visitors will enjoy.

The building at 1441 Chestnut was going to be a condo building until it was going to be a Waldorf, and now a W Hotel. Many hope that this new construction will open the doors to more skyscraper construction in the neighborhood.

If Philadelphia looks good to you, you can thank the Center City skyscrapers that make it such a beautiful and bustling place to live and visit.

Michelle Rebecca
Content Specialist
Blog: SocialweLove

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.

Check it  out…

Residential Sales in 19146, 19147, 19107, 19106, 19102, 19103, & 19130 – Jan 1-July 15, 2012

Thanks to all for sending me their friends and family looking to buy and sell in town. Much Appreciated!

The Biggest Cheerleader for Condo Living in Center City,
Mark Wade
www.CenterCityCondos.com
Berkshire Hathaway Home Services Fox Roach Realtors
530 Walnut St. #260 Phila., PA 19106

From Philly.com:  “An upscale W Hotel is scheduled to break ground next year on a half-acre site that was originally planned for a $420 million Waldorf-Astoria Hotel with luxury condominiums before the lending markets collapsed four years ago.

The new hotel would sit on what is now a surface parking lot at 1441 Chestnut St, just behind the Ritz-Carlton Hotel and its condo tower, according to a representative of Starwood Hotels and Resorts Worldwide Inc., which owns the W brand.” [Read More…]

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

If you found a Philadelphia condo, and made an offer and the seller signed the offer on say, January 1st, here is a rough time line of what to expect:

By January 5th – Have mortgage application taken.
By January 15th – Set up and have Home Inspection.
By January 16th – 2nd deposit due.
Sometime mid to late January- You get condo docs and have 5 days to review.
Throughout January and February- Be tortured by your mortgage company.
Through January and February- I order title insurance, city certificates, etc etc.
One week prior to settlement- You order a homeowners’ insurance policy  for your unit.
One day prior to settlement- We do our final Walk-Through
Day of Settlement- Take This day off work. Please. Settlement will take an hour or two.
Post Settlement- Sing and dance in the middle of the street, and drink to celebrate your accomplishment!

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

When you’re trying to make your space more alluring to potential buyers, it’s all about presentation.

Most people know that. Before a showing, they make sure the place is picked up, cart out extraneous furniture and, take out the trash. But what about the lighting?

Lighting is the one thing that can give your condo a warm, inviting atmosphere. Follow the tips below, and you’ll have buyers making offers:

-Use the sun to your advantage. Natural light is an incredibly attractive feature, so use what you’ve got. Trim any outdoor plants that are blocking that sun from streaming in, take down bulky window treatments, and move furniture away from the windows.

-Layers are key. The basics of lighting design involve incorporating at least three “layers” of light in each room. One layer is general lighting – you get that with ceiling fixtures. One is task lighting – that includes your floor/desk lamps and any focused lights such as under cabinet fixtures or desk lamps. One is accent lighting – that’s what will really highlight your decor and bring in the majestic feel. One of the most popular forms of accent lighting is indirect cove lighting via LED light strips installed in a recessed portion of the ceiling.

-Be critical. When you’re selling a condo (this especially applies if you’ve lived in it for years), you have to put yourself in a stranger’s shoes. If you were seeing the place for the first time, what would you think of the light fixtures? It’s easy to accumulate outdated light fixtures and forget to judge them with a discerning eye. Replace any tacky light fixtures with a more contemporary style.

-Go green. Sustainability is such a selling point for potential buyers. They want to hear they won’t get slapped with a huge power bill after move-in. They don’t want to go to the trouble of replacing inefficient light bulbs you installed. If possible, replace light bulbs with low-energy models. You can add it on to the list of benefits you tout to the buyer.

Emily Widle
E-Commerce Marketing Specialist
Pegasus Lighting
P 724.846.5137 x 102
F 724.846.8833
www.PegasusLighting.com
“Unique Lighting Products for Your Special Needs”

     I have been selling real estate in exclusively in downtown Philadelphia for twenty-three years. I have done some stupid things in my career, and I have witnessed many buyers and sellers making equally stupid moves.  I often see buyers and sellers either pinching a dime for a dollar, or just doing some absurd moves that are much more trouble than the expected payoff. And I am sure this is not limited to just Center City buyers…I have no doubt the scenarios play out in every real estate community:
Scenario 1:  Having the Last Word
Seller asks $499k for a condo
Buyer and Seller go back and forth, and after a few days, buyer say $480,000 is my
“Highest and Best” offer for this parcel. And then seller comes back and says $480,001.
Really? You really want to be a douche bag and say that? You are pissing the buyer off,
and it will probably  cost you much much more in terms of anxiety, anguish, and animosity within
the transaction as you are locked into a legally binding contract with this buyer for say the next 60-90 days. Perhaps you should just zip your lip and take the freakin’ $480k instead of having to have the last word. Don’t forget, buyers still have to perform a home inspection.
Scenario 2: Can’t See the Forest For the Trees
Seller asks $499k for a condo
This property is a bank-owned sty that should be selling for $800k if it weren’t so dirty, missing
all the appliances, and listed with Susy Bag O’ Donuts out of Erie, Pa. (it happens…bank foreclosures are often listed by those with no connection to the area). And as a buyer, you get the Big-Brain idea to come in at $400k…because after all, the market is slow, weak, and uncertain.  OK….you are an idiot. If you can’t recognize such an overtly strong bargain, and
see that the huge upside is the fact that the condo is grossly underpriced at $499k….then maybe
you need to do a little more homework on prices and values here in Center City.
Scenario 3: Why Aren’t you Using a Magic Wand?
Sellers asks $499k for a condo
As a buyer, you top out at $480,000 and the seller will still not accept your offer. And recent “comps” suggest the seller is correct as no other unit in the building has sold for under $500k.
You then turn to your Realtor and complain that you can’t get the property for $480k. And you are relentless. Even in the face of the facts. But you persist. You dump your Realtor because he or she refuses to wave their magic wand and make this deal happen. You then drive down the road, and see your Realtor Singing and Dancing in the middle of the intersection of Broad and Walnut.
No one likes a whiner. Not even in this “slow, weak, and uncertain” market place.
     There are bargains to be had and deals to be made. Opportunity exists in all market conditions, and the current state of affairs in Center City- which has weathered the overall real estate storm fairly well- should indeed be taken into account when negotiating the purchase or sale of any parcel in Philadelphia. But knowing when you have crossed the line and driven right into
Crazy Town Pa. might be helpful when finding the right piece of Center City real estate. And help
you negotiate the best possible, realistic terms.  Mark Wade CenterCityCondos.com

I welcome feedback!

Philly Condos- Not All Allow Pets

No Dogs or Cats:    2401 Pennsylvania Ave (The Philadelphian)

No Dogs, but yes to cats:
The Dorchester                    The Wanamaker House
Society Hill Towers                    Rivers Edge (2301 Cherry)
Hopkinson House                    Academy House

In today’s competitive condo sales market, there is one rule that stands above all others that may determine whether or not your condo is going to be looked at by potential buyers- Your Condominiums rule with regards to pets. Rules vary from building to building and some are very open, and some buildings are very restrictive.
Most buildings in town will have some kind of restrictions as to pet ownership- specifically dogs.
Restrictions in terms of dog size, breed, or the number of dogs per owner. All makes sense to me. But NOT to allow dogs is one sure way of restricting resales in the building.
Susie the buyer is NOT going to give up her cherished Poodle in order to live in your building, should you be on the above list.  In my opinion, those rules are SO OUTDATED….
Why not put limits on size and breed? Or allow ONLY owners and not renters to have pets?
Mark Wade
www.CenterCityCondos.com