Philadelphia Real Estate Blog

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

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

Here are some tips for making your offer on your potential new Philly  Condo as attractive to the seller it can be:

1) Get a pre-approval from the mortgage company that the LISTING agent uses most.
This will allow the listing agent, who will be presenting your offer to the seller, to be comfortable with your financing arrangements.

2) Narrow your contingency periods to ten (10) days. Not business days either. Make sure you can clear your schedule to do all your inspections on a timely basis. Nothing sours a seller like “15 business days” to do a home inspection.

3) If you are flexible in the dates you can settle, give the seller the option to pick the settlement date. You can write a contract that gives the seller the right to choose your settlement date within a specific period of time, like “ from 30 to 45 days from execution of the contract”..seller to decide.

4) If the seller is buying another home, and doing so locally, consider allowing his or her title company to do your title work. Title rates are standard, and you (generally speaking) will not incur more costs by having your title work done by a company you or your Realtor chooses.

5) Write a nice note to the seller, to be presented with your offer telling him or her why you love their Center City home, and why you want to buy it. If it evokes a special emotion out of you, let the seller know. Every seller wants their home to be “loved”….let them know you love their home!

These tips may give you an edge in a competitive offer situation, or may just save you a couple of dollars when it comes time to negotiate with the seller! Good Luck, and know that the dollar amount you are offering is NOT the only factor your seller may consider when looking at your offer!

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

Technically, in the State of Pennsylvania, if you do not obtain mortgage financing, no one is going to force you to buy title insurance on your new Old City or Rittenhouse Square condominium.  But as your Realtor, with your best interest in mind, I am going to rant and rave until you agree to buy it.

A mere title search doesn’t always reveal all the flaws that could potentially be a part of the chain of title. And title searches are not free. Not to mention you will need to pay an attorney or title company closing fees and notary fees to complete your transaction if you do not purchase title insurance from them.  Closing fees and search fees are usually waived if you purchase the title policy. Since you will need to put out several hundred dollars for these services if you waive title insurance anyway, you might as well pay the difference and protect yourself against the unthinkable.

Here are a just a few scenarios you could encounter without the protection of title insurance:

– Forgery or Fraud in connection with the execution of previously recorded documents
– Incorrect representation of marital status of grantors
– Undisclosed or missing heirs
– Wills that have not been properly probated
– Mistaken interpretation of wills and trusts
– Incorrect legal descriptions
– Unsatisfied mortgages, liens, or judgments not shown on the record
– Deeds executed under expired or false power of attorneys
– Confusion due to similar or identical names

– Unknown rights of ex-spouses or former owners
– Clerical errors in recording legal documents
– Incorrect filing of condominium declarations

Some of these things sound crazy I know. But in my 21 years of selling Philadelphia Real Estate I have come across more than a few of the above situations.  So think of it this way:

Paying for a title search and other closing fees to buy your condo without the protection of title insurance – Around $800

Paying for the same search and closing fees including title insurance protection on your $300,000 condo – Around $1600

The peace of mind of having your title company to call and not having to deal with an old lien or back taxes that suddenly show up on your title – priceless!

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

If you are doing work around your Philadelphia home, why not donate your Used items to Impact Services of Philadelphia?

Here is why you should:

1) They will take used appliances, faucets, cabinetry, doors, sinks- even furniture -THEY TAKE THEM AWAY FOR FREE!

2) You are helping the community, as the donations you make will be sold quite inexpensively to those in need

3) You get a tax deduction

4) Did I mention that they will come into your Philadelphia condo or home and remove said fixtures?

So let’s review. You save money from not having to dispose of a variety of items, free removal, tax deduction, and you are helping the city.

A few rules:

-All appliances must be in good working order, and a maximum of 10 years old

-All other fixtures must be in good working order/good condition

-They do not take mattresses

You can call Impact Services at 215.423.3613 Monday-Friday 8am-4:30pm. Their schedule is done on Mondays for the week. So schedule your pick up accordingly. And know that the staff is always very friendly!

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

I have been selling real estate in Philly for 22 years. I like to say I have “Seen It All”.

In this market, it is sometimes hard to believe it when a condo you LOVE comes on the market, and quickly sells out from under you. You know, you prepare for a 2nd visit, you get your ducks in a row, and the day prior to your 2nd visit – the property sells.
  
Yes, even in Mid-November 2010, properties do sell – if they show well, and are priced fairly. It happened to me twice this month…I lost two deals by either being out-bid, or by not getting my buyers to act fast enough to make an offer on a Philly Condo they loved. If you love a property, believe me – I am going to tell the listing agent, and signal that IF he or she gets an offer, please call and let me know. Most Philly Realtors, who work in the best interest of their sellers, will call.

SOME (PERHAPS) SHADY REALTORS JUST IGNORE THE REQUEST AND CLOSE THE FIRST DEAL…POSSIBLY THEIR OWN.

The point is….if you love, love, love it….then buy, buy, buy it. Quickly. The market waits for no one….

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

Are these the coolest, or what? Very 1967-ish….Martini in one hand, and another Martini in the other hand.

What could be cooler? Find out more on these smoke detectors at www.ArchitecturalDevices.com.  Just something I found, that I thought was cool. I would just love to see something like this start popping up in great Center City Condo buildings like The Hopkinson House or The Phoenix!

Want to chat about what other groovy things I have found or seen over the years of condo shopping here in Center City Philadelphia?  Email me Mark@CenterCity.com

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

 I can neither confirm nor deny, but here is what I have heard over the past 21 years of selling Center City condos for sale:

1) The developer of the Philadelphian was so distraught over the perceived success of his building, that he jumped off the roof. 2401 PA. Ave is of course a hugely successful building today in terms of occupancy, resale prices, etc.

2) One of the developers of 101 Arch St. was killed at the opening ceremonies when a large chunk of the facade came crashing down. The Smythe Stores in Old City has a gorgeous historic facade.

3) Society Hill Towers was such a miserable failure when built (as apartments) that they couldn’t pay their electric bill.

4) The townhouses at 10th and Lombard (Society Square) were built upon an old graveyard.

5) Cianfrani park in Bella Vista was known as “Dead Body Park” because the mob would repeatedly dump bodies there after being successfully whacked.

Now I am sure some of these are pure bullshit, but they do make for interesting reading.  Want to unravel the mysteries of your condo? Call me at 215.521.1523 and lets chat! 🙂

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

Did your addiction start back in the late 1980’s with the Sunday morning infomercials like “Fox and Lazo’s Parade of Homes”?
 
Do you search sites like www.Trulia.com and www.Zillow.com, just to see what is on the market in your area? Has your need compelled you to chat about Philadelphia real estate at cocktail parties, and intimate gatherings? And do you usually look through the real estate section of the Sunday paper…like, every Sunday? I thought so.

    
My particular need for R.E. (real estate) was first exposed to all at the age of 19. I used to sit down with a red pen, and circle properties in the weekend paper that I thought our family might drive past, after seeing those on the aforementioned Parade of Homes. Anyway, I am a realtor now for the past 21 years here in downtown Philadelphia. I know your type. You notice every “for sale” sign in your neighborhood. Akin to there being a metal plate in your head that pings whenever you drive past a “for sale” sign you have also probably spoken to or emailed a Philly realtor to get some more info on a home that you planned on neither buying nor selling. And Open Houses? Forget…you have been to them all, and you usually make a B-Line for the photos on the walls of those homes.
    
Go ahead, admit it. You are a Real Estate Junkie. Start with the phrase, “My name is _______________, and I am a real estate junkie. You will feel much better in no time.

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

We hear all kinds of national news stories about the country’s current real estate market. Below is a simple breakdown of the number of showings that have taken place at Prudential Fox and Roach’s Center City Philadelphia Listings over the past 9 months. The figures are broken down by price ranges. There does not appear to be a lack of folks looking to buy and as usual, very early spring seems to produce the most Center City Condo buyers with traffic slowing mid-summer as many people leave for vacations.   

Leave a comment, or shoot me an email at Mark@CenterCity.com. I’d live to hear your thoughts on this “inside” Center City Real Estate report. Spring Market 2011 is just around the corner!

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