Philadelphia Real Estate Blog

Along (what I have dubbed) the Spruce/Pine corridor here in Center City Philadelphia, there are a variety of low rise/Brownstone styled condominiums that have seemed to perform reliably well over the past decade.  Due to the perceived desirability of the location of Spruce St. and Pine St, and the mix of unit availability, along with ease of parking (be it rental or on-site), along with the feeling of being “in the mix” of being able to commute around town on foot, I do find that this segment of the market has fared pretty well.

Brownstone condo developments have gained in popularity and acceptance over the past decade, and are unique in their design, features, amenities, and “flair”, as very few are identical. Each building (converted from what was once a very large single family dwelling) is unique in its style and design. For instance, The lowrise brownstone known as Roberts Quay on the corner of 11th and Spruce offers units that are earmarked with high ceilings, original detail, unique floor plans, and holds stunning curb appeal for those looking in the area. Also, since many of these buildings lack a doorman, or an elevator, we will find that condo fees for such units to be fairly minimal. The general absence of a swimming pool, and excessive common areas (grounds, parking lots, etc) also help keeps the monthly condo fees minimal.

Lastly, the proximity to University of Pennsylvania, as well as Jefferson Medical College provides a “built-in” resale market for these Philadelphia condos. As most units along the Spruce/Pine corridor average 1000 sq ft or less, they do seem to be popular with the above mentioned buying set. Though the boundaries of the Spruce/Pine corridor do extend to streets such as Locust, Lombard, and South, and the numbered streets that run between this corridor, the popularity and familiarity of such areas make Spruce and Pine Streets condominiums a fairly sound investment in the minds of many Philadelphia condo buyers.

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

I have been working with buyers in the Philadelphia condo market for some time now.  Since 1989 I have been shuttling around buyers in my car, on foot, and a few times, via bikes. I enjoy myself, and really like selling real estate. Call me nuts. I don’t care, but I do enjoy it.

But what I really don’t like are buyers who won’t give me any guidance or feedback. What Am I, a mind reader? I need you to talk to me. Tell me that you hate that condo on Lombard Street, or tell me you love that loft at 3rd and Arch streets. Just talk to me. Tell me why. I don’t own that condo, and I am not going to get offended by your dislike of dirty orange shag carpeting.  

Every buyer has a rank of priorities when they look at Philadelphia condos. Some value location, some condition, some value ceiling height and natural light above all else, and some Rittenhouse Square condo buyers value the prestige a certain building may or may not exude. I don’t care what your particular  priorities are, or how you value them….I just care that you adequately verbalize these wants and needs to me, so I can incorporate them into our next tour.  Otherwise, I am going to continue to show you a bunch of stuff you are not interested in seeing. God knows there is enough inventory on the Philadelphia condominium market to keep both of us looking until the year 2012, especially with the Changing Skyline that Inga Saffron, the Architecture critic for the Philadelphia Inquirer has been writing about. If you don’t have help me rule out some of the flats and lofts you are NOT interested in seeing, we are just going to spin our wheels.

My favorite buyers are the ones with opinions. Realistic opinions. Penthouse condos in prestigious buildings don’t sell for $139,000, nor can I get you EVERYTHING on your wish list. But I can hit a pretty high percentage of your wants and needs, if you just speak up and tell me why you liked the condo at 2nd and Spruce Street, or why you think you need three bedrooms, instead of two bedrooms and a den. Communication is the key, so don’t be shy!  Again, I don’t own these condos,  I just show these condos, so when you are ready to start talkin’ to me, give me a call at 215.521.1523 or drop me an email at Mark@CenterCity.com.  I am on your side!

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