Philadelphia Real Estate Blog

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  In my opinion, those rules are SO OUTDATED….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

And please stop with the patronizing “and you get lovely carpet in the bedrooms at no extra charge”. Again, you are an idiot.

And touting the virtues of a dishwasher, a garbage disposal, and/or doorbell for each condo unit?Yippee…where does my buyer sign?? If developers could take a minute or two to tour some of the condo offerings in Center City Philadelphia, and realize that the buyers I am bringing to your front door have seen almost EVERYTHING on the market, then maybe that developer could wise up, and compare apples to apples. Tell us about the significance of your location, the quality of your construction, or the fact that you are priced competitively. My buyers are not stupid, and I will not allow them to be uneducated. So wise up, and let’s make a deal. Because until you (Mr. Developer) come to your senses, my buyer’s desire to write an offer on one of your condos is going to be severely limited.

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

Like people in a swimming pool, some float, and some sink. The question is why.

Obvious factors are the showing ability and emotional impact that a particular condo unit does or does not possess: cleanliness, natural light, wall color, furniture, even the smell of a condo can add or subtract from the emotional beauty, and leads to a huge impact on a condos value. In my twenty years of selling real estate, I have never had a buyer tell me to find him the dirtiest, or the worst decorated condo available. Easily, as much a ten percent difference in value depending upon showing ability. And of course interior condition can also have a major impact on value. Beige bathtubs and appliances can crimp value fairly quickly in a lot of cases. 

In addition, the physical charactoristics of any given unit can help or hurt the units value (think- huge closets, a tax abatment, high ceilings,etc). Styles, like appliances and carpeting have a tendency to age, and that is usually accompanied by a slower rate of appreciation. Clearly, more recently rehabbed, say, Rittenhouse Square condos are going to retain their value better than a unit in a state of disrepair or decline in its finishes. Also prohibitive condominium association rules and policies can deter many buyers from specific buildings. A host of factors can cause units to sit on the market longer than normal, and almost always guaranteeing a lessened resale value.

Location is also a huge factor to the rate of either appreciation or depreciation. Stronger locations in town have a tendency to be a bit more elastic- they are the first neighborhoods to see a drop in inventory with any influx of buyers to the market. That’s a good thing. Recall the principles of supply and demand. I would argue that a strong location is going to depreciate less -because IF in a weakened marketplace, the first condos to remain unsold are in the weaker locations. (The flip side is that you might be able to strike a significantly improved deal, should you be looking away from an “A” location.)

I am just brushing the surface here, but know that not all condos in town will appreciate or depreciate at the same rate. Or sell within the same given timeframe. The best tools you have to insure your value remains intact is twofold:

1) Buy it at the right price in the first place and/or

2) Keep your unit looking like it just jumped off the pages of Town and Country Magazine.

Easier said than done, I am aware!

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

After living in the heart of downtown Center City Philadelphia for 24 years, we have decided it was time to move the hell out of town. Well, at least like 5 blocks out of the heart of town.
I personally spent 18 years in Old City. I love Old City. I lived for six years on and around Rittenhouse Square. I love Rittenhouse Square. But in my advancing years (I just turned 50), I find that a gated community with a guard at my front gate, plus a doorman, and a valet, and on-site pool and huge deck overlooking the river- is getting to be more my speed. I don’t want to be a big brain, but as a Realtor since 1989 in Center City, I KNOW my Real Estate in this town. There are many fine places to live. But I don’t think I could have made a better decision than to live at WaterFront Square.
    The unparallelled views, the service, huge private balcony off my living room, the tax abatement, two car parking, and the ground are really One-Of-A-Kind here in Philadelphia. We have shuttle service into town, and honestly- some of the nicest doormen I have met. And I know ALL the doormen in the Center City condo buildings- I am a Realtor who specializes in condo sales. I have been here a month, and have yet to hear a neighbor. Or meet one. Yippee!
    Most buyers who move to town say they want to be within walking distance of their favorite restaurants or venues. What they really mean- but don’t yet know- Is that they want to be within a taxi ride of their favorite haunts. Mr. and Mrs. Draped in Diamonds and Furs won’t be seen walking home from the Academy of Music at 10pm on a Saturday night- believe me. For the naysayers  who poo-poo the idea of living just on the outskirts of town, I have to say- You don’t know what you are missing. I live in a haven of tranquility and amenities. Two qualities of life you are not going to find en mass around Old City, or even the square.
Mark Wade
Owner – www.CenterCity.com and www.CenterCityCondos.com

There was an article last week in the Philadelphia Inquirer that suggests more Philadelphia Condos are being rented.  Here is an excerpt from the article:

Because the focus of residential construction during the boom times was on for-sale housing rather than rentals, there aren’t enough high-end apartments to go around now.

“We are finding the high-end rentals to be almost nonexistent, as they rent fairly quickly,” said real estate agent Mark Wade, of Prudential Fox & Roach.

Condos near the University of Pennsylvania and Thomas Jefferson University “have a built-in demand for rentals, and we have seen that equation play out year after year,” Wade said.

Read more here:

http://articles.philly.com/2011-06-01/news/29608739_1_rental-apartments-rental-units-center-city-district/2

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

Race Street Pier officially opened today! This is the first new public space of its kind located on the Delaware River as part of the Delaware River Waterfront Corporation’s ambitious new plan.  The Pier reconnects the City to the River, activates the water’s edge and establishes the pier as a distinctive new public park for the people of Philadelphia. Click to read more about The Race Street Pier.

This is a great new park for Philadelphia condo owners and Philadelphia condo buyers. If you are interested in purchasing a condo in Philly, give us a call at 215.521.1523.

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

Please come out with your Mom for a stroll this Mother’s Day and stop by our Center City open houses on Sunday, May 8.

Noon-1:00PM
38-44 N. Front St. – The Winne Condos – 12 bank owned units with unique floor plans, wood floors, top-of-the-line kitchens & baths, recessed lighting, high ceilings, landscaped courtyard. FHA Approval pending – Starting at $215,110

736 Pine St. Unit D – 2-bedroom condo in Society Hill with central air, family room, basement, 2 decks, & parking. Distinctive & delightful! $499,900


736 Pine St. Unit F –  Sunny 2 bedroom condo, private entrance, open floor plan, California closets, granite/ss and tax abatement $349,999

1:30PM-2:30PM
117 S. 16th St. #400 (aka 1551 Sansom) – Entire floor! Very Large 1 bed/1.5 bath condo- corner unit- tons of light. Hardwood floors- Elevator opens directly into unit! Mint Condition, good closets $359,000

103-07 Church St. #9 – Tons of Old City charm. Tall windows, hardwood floors, exposed ductwork, open granite & stainless kitchen. Lrg quiet MBR has natural light & good sized closet w/en suite master bath. ASKO w/d $299,999

3PM-4PM
912 Spruce St. #8 – 1 bedroom located to the rear of building away from any street noise, high ceilings, stainless steel appliances, low condo fees, move-in condition at an unbelievable price! $229,000

We hope to see you there! To view all of our Philadelphia Real Estate Listings, including Philadelphia Condos visit www.CenterCityCondos.com.

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

We just listed the dozen remaining units at the Winne building at 38-44 N. Front in Old City.

Finally, these units have great prices on them, and they are in the process of being FHA approved. From one to two bedrooms, priced as low as $216k!

Give us a call at 215.521.1523 to make an appointment to see these groovy Philadelphia Condos today!

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