Philadelphia Real Estate Blog

1) For every month you lived in your new Center City pad, and made a mortgage payment, you were able  to deduct the interest on the loan.  Try that with a rental payment. And be sure to let the IRS know of your plan here, as I am sure it will go over well with them.

2) You were able to paint the living room that hideous red your wife/husband/other wanted, and didn’t have to worry about NOT getting your security deposit back

3) If you had a fixed rate mortgage, you were able to plan on stable month payments, without the threat of yearly increases in rent, which most landlords do as a matter of habit, as opposed to doing so based on market conditions

4) You didn’t have to worry that your landlord was going to kick you to the curb after your lease expiration period, in order to turn the apartment into condos

5) You had the “quiet use and enjoyment” of the home to do as you please. The piece of mind that only comes from home ownership. 

6) And you now have the pride of owning your own  garden rake, a lawnmower, and perhaps washer and dryer.

Buying a piece of real estate in Philadelphia isn’t always about financial appreciation. Sometimes, the added value is the piece of mind you have knowing that you have a roof over your head that belongs to you. And your bank.

Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach Realtors
PREA Top 100 Award- 2005, 2006, 2007

Tell Me about your Center City Condo…..

Do you own a Center City Condo? I would love to feature your condo on my blog, as an example of what potential buyers can expect to find when they begin shopping for a condo in Philadelphia.

Your condo may or may not be for sale, and that’s OK.

Give me a brief description of your condo, what you like MOST about your unit, some interesting facts or local landmarks in your neighborhood that you favor, and be sure to send me some photos!

I would love to feature your unit for the 7000+ visitors that visit www.CenterCityCondos.com each month!

Thanks!

Mark Wade
http://blog.centercitycondos.com
Prudential Fox and Roach Realtors

Adding faux painted exposed brick to a living room can be easy, quick, inexpensive, and add quite a punch to any living area….especially a somewhat boring room where some wall texture gets immediately noticed. Wall texture adds depth, and can change how light “works” in any given room. And heaven knows that a lot of Philadelphia condos could use a tad more emotional punch!

I once bought a condo that had a 5’ by 7’ chunk taken out of an exposed brick wall. I simply filled empty chunk with cinder block, applied a thin wire lathe, then semi-wet mortar mix, and scarred it to make it appear to be exposed brick. I then painted the entire wall a really cool taupe color, and you could never tell that it was faux Painted brick…and it Looked Stunning!

I should have done the wall in a medium grey color. My friend once did that to his Old City condo, to a few exposed brick columns, and I thought I was going to die. It was gorgeous!

So the moral of this blog entry is…don’t worry if your Rittenhouse Square condominium, or any condo in Philadelphia lacks a bit of charm and historic detail. There is more than one way to skin a cat, and add detail is indeed possible as you go about improving your Center City loft or Society Hill condo. Have fun, and be creative!

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

Looking to scare away a few buyers for your next Philadelphia condominium sale? Why not try these decorating tips featured here?

And don’t worry for a second, if you have a vacant, or a cluttered condo in Philadelphia to sell. If you real goal is to simply list your condo, but not get an offer, than listen up! Nothing drives away a buyer like a poor showing ability. Could you imagine your realtor in Philadelphia showing you a condo like these in a prestigious Rittenhouse Square condominium building? Neither could I. And if you are considering selling your Old City loft, or Fitler Square condo, then you should consider making it show as well as it possibly can. Nothing says “run” like a poor showing ability.

Buying a condo in Philadelphia need not be a scary thing. Unless of course, you are looking for an ugly, say, Rittenhouse Square condominium that smell like dog pee, and is priced well. Either way, why not give Mark Wade a call at Prudential Fox and Roach Realtors in Society Hill? He can help you scare up a place of your own!

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

Here is how I would hope you would spend it:
 
1) $5 for a big bottle of windex and a roll of paper towels
           Clean your windows. Let the sun shine in. Believe me when I tell you that your perspective buyers will notice!
 
2) $25 for new bathroom and kitchen caulk and misc. tools
           If you really want someone to run screaming from your home…show them the mold that is growing between your tub and the tiled wall in your bathroom
 
3) $20 for more cleaning supplies
           Dust your baseboards, clean caked on fingerprints off light switches, and use a cleaning product with bleach for your bathtub, shower floor, and sinks
 
4) $10 for replacing burnt out lightbulbs.
           Don’t limit yourself to the inside of your Philadelphia condominium. Exterior and hallway lighting is important as well, in order to give a bright clean appearance
 
5) $40 for Paint and Painting Supplies
           Touch up your front door, door jambs, stairway wall nicks and dings, and fill those holes where needed. A little goes a long way here…..
 
Again, touch up the glaring defects, or shortcomings that are going to have a tendency to cast a bad shadow over your home. More important than staging, or a new bathroom…..is cleanliness. Don’t underestimate the power of a clean, and touched up piece of Philadelphia real estate. It can do wonders for your condominiums image!
Not interested in buying someone else’s dirt? Prudential Fox and Roach’s premier Philadelphia condominium specialist can help. Call Mark at 215.521.1523 or email him at Mark@CenterCityCondos.com…he can help you clean up your act!

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

Question: You sell your Philadelphia condo, go to move out your couch which has been sitting in the SAME position for seven years, and the hardwood floors under your couch have faded. Are you responsible for such a “defect” if no such mention was made in a seller’s disclosure?
Answer: What do I look like, a lawyer?

But this does pose a very interesting question. Just how much “on the hook” is a seller? I pose this question, because this exact scenario just happened to me. I moved a couch, and the floor under the couch was discolored. Could the buyer have been mad? Possibly. I guess my argument here would have been “Let The Buyer Beware”.
I certainly wasn’t trying to hide anything. And that big dumb couch weighed as much as a space ship, and sure as hell that thing hadn’t been moved in seven years. But I felt kinda’ bad that the buyer inherited a floor that was (in this spot, where the couch was) discolored.  I guess if the shoe were on the other foot, and the seller told me that he was unaware, I would have to take his word for such.

What’s my point??
My point is that even with a home inspection, and a seller’s disclosure, there may be a surprise or two at the settlement table.

My advice??
Bring a flashlight to the home inspection, and do some looking around yourself. Ask questions. Compile a list of questions to ask the seller, and email to me (your realtor). A more informed buyer leads to less potential surprises. And thought there is no such thing as perfection, (besides a Denny’s Grand Slam Breakfast at 2am on any given Saturday night), the onus is on you to protect yourself from as many surprises as you can!

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

Why do I have to show a condo in a well run condo building, to see trash strewn about the front sidewalks? Why do the elevator doors have graffiti scratched into the paint? And why are there light bulbs out in the common hallways?

Various Philadelphia condominium associations need to be aware of the visual impact that simple maintenance items have on potential buyers. And since one primary function of the association is to serve the owners of the building- not only in terms of use and enjoyment, but in terms of protecting that owners investment, it would seem that simple improvements would be a function of ongoing work in the building; that I would not need to blog about such deficiencies.

But I do. From the bicycle tire marks on the common hallway walls, to front doors which DO NOT shut and latch properly. THIS IS MANAGEMENT 101 here folks. A buyer’s impression of your Philadelphia loft or condo is, by many accounts formulated prior to the buyer stepping foot into your unit. Especially if that buyer has to endure a smelly elevator, a dark hallway, and the neighbors personal effects sitting outside their door.  Condo rules are there for a reason, and sometimes it is up to that particular Philadelphia condominium association to be the bad guy, and enforce those rules. The lasting effect is a much improved perception of the building by those buyers looking to potentially purchase within that building. And hopefully, a quicker resale and possibly a higher resale price.

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

Stop reading this blog, and go take a look at the inside of the closets in your Philadelphia condo. Or, if you are a renter, look at your existing closet space. Kinda’ cluttered, eh?  Closet organizing systems are relatively inexpensive, easy to install, and can be found at IKEA, Lowes, and Home Depot. You needn’t spend top dollar on these organizers.First…go to one of the stores mentioned above, and pick out a style, color, and any groovy add-ons…like drawers, hampers, valet hooks, etc. Get measurements of your existing closets, and go estimate the price to purchase. Next, go to my website, and click “Vendors“…and call either Mario or Dave. You might want to have them meet you at the store, haul them back to your Rittenhouse Square condo, or Old City loft, and have them assemble the shelving/organizing units. WHY organize your closets?      

Simple….first of all, your will probably double the actual usage of your closets. With “double hanging” your clothes (one high rod, one low rod), and adding shelves, etc. you will certainly get more usage out of the space your have on hand. And your closets will not only look better, but you will be better organized in order to find your things when you need them (aka- you are late for work). but most importantly, you will benefit greatly in terms of resale value. Buyer LOVE LOVE LOVE closet space. Especially closet space that is well organized, and looks efficient. If a buyer walks into your Center City condo, and it appears that your CRAP is strewn about, and that you are growing out of your space, then they will assume the worst, and guess that the closet space will not be enough for their needs as well. Give the gift of a good first impression. Organize your closet space, get rid of the crap you don’t need, use, or want, and allow that heavenly closet space to have an effect ( a positive one!) on the buyer who may be considering purchasing your Philadelphia condo or loft! For a fast $1000 investment, I am sure that you not only will get more $$ back in resale, but you also get the use and enjoyment of having a more organized life!

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

One of the big decisions you will make when moving in or out of your Center City Condominium is whether or not to keep your current furniture or purchase new.  Sometimes the furniture that looks fabulous in your Rittenhouse Square Condo, just doesn’t quite fit in well with the style of your Old City loft.  So, what are you going to do with the furniture you won’t be using any longer?  And where are you going to shop for replacements?  This wonderful organization here in town, “Uhuru Furniture & Collectibles” at 1220 Spruce St. can be an excellent resource!

They are a nonprofit, used, furniture store in Center City Philadelphia and they have relationships with a number of condominiums, property managers, and apartment complexes in and around Philadelphia. They pick up donations…FAST and FREE and all donations are tax deductible!  The folks at Uhuru pride themselves on being a highly professional, committed, personable, tenacious, and punctual team of staff & volunteers whom you and your customers will come to appreciate greatly. They are also flexible in order to meet your particular needs.

Uhuru Furniture is raising funds for the African People’s Education and Defense Fund, Inc. (APEDF) a non-profit organization. When you donate to or purchase from them, you are supporting their efforts while benefiting at the same time!  So whether your interested in donating or purchasing something to jazz up your place….check them out!! Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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