Philadelphia Real Estate Blog

The Real Estate community here in Center City is not unlike High School. You have your Prom Queens, your Stoners, and your Jocks….not to mention the Wallflowers and the Loudmouths. All kinds of agents make our world go around…and that is great. Most agents are nice and cooperative but there are of course the real A-Holes that some agents try to avoid like the plague.

And if you think the Center City Real Estate community doesn’t have its own clique- then you would be incorrect. Some Center City Condo listings get more traffic than others just due to their basic popularity, like the Academy House at 1420 Locust St. Being cooperative, flexible, playing by the rules, etc., all have their benefits. I have heard repeatedly that agents will avoid certain listings because they don’t want to work with this or that agent for the next two to three months of their lives. I get it. I am not saying I condone such behavior, but I do understand it. I too do not want to deal with someone who is not going to return my phone calls, has a reputation of being a pain to deal with, or maybe even known to be a hint evasive or is just someone who is known for not being able to help carry a deal to closing because they haven’t (say) been honest with their clients. Or just plain aloof.

    And being “In with the In crowd” gives me access to properties that less popular agents can’t arrange.  I am in the clique, you see    And I sell a lot of Philadelphia condos….so I may get a hint more wiggle room for weekend appointments, or last minute appointments. Or just get waltzed right past the doorman when I walk into a building.

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     ATTENTION DEVELOPERS….

Converting a Brownstone to Condos in Center City?

As the market begins to heat up, so does the demand for smaller associations like brownstone styled condos that tend to have lower condo fees, and a hint more character than say a high rise may possess. Here are a few hints a developer may want to keep in mind:

1) Make sure to carpet the common areas. No one wants to hear the owner of say unit 2R clomp his or her way through the halls with their high heels. Keep noise to a minimum in common areas- hardwood floor and or tile is not appropriate. Carpet these areas. Please.

2) Think about splitting your water bills up- meter each unit separately. Many buyers may be part timers or weekend city warriors, and may benefit from not having to pay for water that they don’t use on a daily basis.

3) If the city allows, and you have space in the basement, put up two by fours and chicken wire storage units. And buy a dehumidifier for the association. The minimal cost will pay for itself in terms of marketability.

4) Common Area paint should be done in a low gloss finish. And spend a few extra dollars on front door security and hallway lighting. Again, a small cost, but huge in the minds of many Center City brownstone styled condo buyers.

5) When you are done building the condos, take a step back, and put in another $2500 into each unit in terms of groovy paint, wallpaper, and lighting. You will no doubt be able to recoup every penny of that visual investment (and them some) and the condos will sell quicker. Much quicker.

Remember, your competition is going to be at least a decade or two old- so modern up to date cosmetics are exceedingly important for marketability. I find that what kills a developer in terms of profitability, is the time it takes to market a condo. A vacant condo is simply just p*ssing money down a drain.  I would suggest there is a fine line between over-improving, and hitting the market just right- in terms of pricing and your final product. Need some more advice?

Call me, Let’s chat. Mark Wade

215.521.1523 / 215.627.6005           www.CenterCityCondos.com          Berkshire Hathaway Home Services Fox and Roach Realtors

There is something to be said about model homes. I love them.  I want to buy everyone I see.  Brand spanking new model homes-versus-character laden, gorgeous, historic homes- which do I choose? The great thing about Philadelphia real estate is that there are fantastic properties at both ends of the spectrum.

While I am a veteran home flipper (my brother and I have bought, rehabbed, and resold 140+ Philadelphia condominiums and town homes)  I have to admit I am intensely attracted to the pretty residential faces of model homes.

It really is an occupational hazard! I want to move every week. This is in spite of the fact that the Philadelphia loft condo I currently share with m other half has been featured on HGTV.

We rehabbed our circa 1813 Old City condo (with three-car parking inside a really cool private gated courtyard) from scratch. We chose every material and item in it ourselves. Okay, we grossly overspent. But, we also won the 2005 Philadelphia Magazine’s Kitchen of the Year Contest.

But like a lot of you who love historic Philadelphia real estate, I also love model homes. I used to preach the mantra of “With a town the brought you Betsy Ross and Ben Franklin, historic homes sell-well!” And although I do throw that line out there to buyers from time to time, the truth is I’m a sucker for Philadelphia’s new construction model homes.

Am I a hypocrite? Should I not utter what I covet?

When you see what’s available in terms of model homes, you can’t help seeing the benefits of owning one of these properties.

I am telling you, give me a new construction ranch house, with a driveway, garage, patio, and 1/4 acre yard in Old City-And I am willing to bet that I would go directly into the intersection of Broad and Walnut Streets, and dance a bit… right there in the middle of the street. Honest.

Of course, that ranch house has to be “Model Home” gorgeous. You know, with all the latest designer furniture, wall coverings, hip features, new paint, etc.

It’s all about life style. Getting into a house or Philadelphia condominium that doesn’t require any work so you can sit back and enjoy your new property is a big bonus. I know I would love that type of lifestyle with all my heart. And never, ever, ever want to leave. That’s right, never.

Until, of course, the next time I was out showing a buyer a new construction penthouse condominium with gorgeous outside patios. Slowly but surely all closet doors are being slid open, rooms explored for the first time, kitchens ogled and bathrooms admired, that feeling will come over me again.

I’ll be struck with the itch to own one of the amazing model homes available on the Philadelphia real estate market. And you’ll find me back in the intersection of Broad and Walnut Streets doing my own crazy version of the model home dance.

Whether you want to buy a new construction or historic beauty, I can help you get the best price and terms. ( I can even help you choose between the two.) Give me a call today at 215-521-1523 pr drop me an email at Mark@centercity.com.

I am often asked by condo owners to offer tips on getting their condo to “Show Well”. Here are the 3 quick easy tips for maximizing the showing ability of your Philadelphia condominium:

1) Go to Ikea, and buy a floor to ceiling curtain and hang it from ceiling height, in front of your bathtub. This is not going to take the place of your shower curtain, it is simply going to add some dramatic effect to the bathroom. It is quick, cheap, and has a powerful punch in terms of the emotional appeal of your Center City condo.

2) Paint an accent wall. Preferably, one that is opposite the entryway to any given room. I like to see fireplace walls accented in somewhat neutral, yet enticing colors too. Like a chalky blue, or green. Painting an accent wall will give a hint of flavor to a room, without overpowering the room with massive color.

3) Replace the knobs on the doors and drawers in your kitchen and bathroom. And don’t buy the 99 cents knobs either. Go to Pottery Barn, or Restoration Hardware, and spend a few dollars. Believe me when I tell you, they will help even a somewhat tired kitchen look a bit refreshed.

That’s it. Three quick easy steps for maximizing the interior “curb appeal” to your  Center City Condo!

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

Here are a few things that you may not have known are pretty standard in condo docs in  Center City:

In the state of PA., you have 5 days or 15 days to review your condo docs depending upon the type of Center City condo you are buying- used or new.

Mark Wade
Berkshire Hathaway Home Services Fox & Roach Realtors
Mark@CenterCity.com    215.521.1523