Philadelphia Real Estate Blog

To all the Philadelphia Open House Junkies: You are indeed welcome to visit my open house. I don’t care. Really…the more the merrier. And I promise not to hound you, ask for your name, your number, you place of birth, etc etc. I will not call you the next day to “follow up’, and I will not stalk you, at some later date, to see if you want to sell your condo.

I sometimes get bored sitting waiting for the next potential buyer to walk in the door of any given open house, and fall madly in love (with the condo I am sitting).  So feel free to come over, sign in under a ficticious name (Yoko Ono?) and have a look around. Just a few things I ask of you:

1) If you see me talking to a “real buyer”, please do not interrupt

2) Excuse yourself from our little chat if you see other buyers come through the door. Remember, I am at work

3) Do not voice negative comments about the home in which you are visiting

And that is about it. I too love to visit open houses, always have, and always will I guess. Perhaps it is in the genes. Maybe I am just nosey, and I love to see how other people live. So if you are like me, you are welcome as a guest into my open house and I hope to see you knocking at the door to one my many new condos in Philadelphia that has just been listed!

Our Open Houses for this Sunday July 20 are:

753 Marvine                  11 N. 2nd #102        1010 Race PHH        104 Market #201

11:30AM-1PM               Noon-1 PM                 1:30PM-2:30PM        Noon-1PM

We hope to see you there!!!

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

So it is settlement day (aka-the day I told you to take off from work) and we are meeting at your new groovy Old City loft, or Rittenhouse Square condominium to do our final walk-through.  I have found condos in Philadelphia left in a variety of stages of transition, from total hell-holes, to gorgeously clean condos with a bottle of Champagne in the refrigerator, and everything in between.

Per the terms of the agreement of sale, the condo should be left in broom-swept clean condition, normal wear and tear accepted. Now, how do we interpret that? I usually tell buyers not to expect that the home has been professionally cleaned, rather just “broom-swept clean, free of debris”. There should be no college fraternity house communal sofa left in the guest bedroom, nor should the seller’s old computer boxes and broken bicycle be left in the storage bin in the basement.

If you notice that the stove hasn’t been cleaned, or the shower stall full of grime, well…uh, know that there is no extra charge for these. The grime transfers with title :). Don’t expect the world from any given seller, just some honesty and good faith. And to all you sellers out there in internet land…no one needs your crap or your garbage. Take it with you….and if you want to donate furniture…call Uhuru at 12th and Spruce Street, who will take donations. And your future buyer is not interested in a closet full of wire clothes hangers either.

So a little forgiveness can go a long way to a happy, smooth day. Don’t expect to be able to eat off the kitchen floor, but garbage and other old belongings need not be present either.

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

25th and Locust Streets-Entrance to the Schuylkill River Trail

Fairmont Park has a really neat addition which incorporates a link between Center City, and up Kelly Drive.  A jogging/biking/walking/roller blade trail which begins where Locust Street ends (at 25th Street) and runs past Philadelphia’s Fairmount WaterWorks along the Tidal section of the Schuylkill River, which they call Schuylkill Banks, up Kelly Drive, up to East Falls, and perhaps even beyond. From there I don’t know that section too well. But what a neat attraction for those who live in the area. Instead of jogging down the sidewalks of town, having to dodge traffic at every intersection, you now have the River trail that will allow you to see really neat stuff…like trees, grass, and people on bicycles. Cool.

I am amazed every time I drive past and see the throngs of folks out exercising, and making great use of this trail. A wonderful way to get city dwellers out into the park, and a great way to make our fair city a more useful, enjoyable, and healthy one!

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

Here are some helpful hints on what to do/what to expect on your “big” day:

1) Make sure that the funds you have are either in the form of a certified check, or your funds have been wired into the title company’s account. No one is going to take your “3rd party, postdated, out-of-state” check. No one. AND…bring your ID.

2) Plan on some type of delay. Either your mortgage company is not going to have the paperwork ready, or the interest rate you were quoted may be incorrect, or perhaps THEIR wire (your loan amount) has yet to be received by the closing (title) company. It may seem shocking that the people who practically beg for your business are so disorganized. But they usually are. Perhaps this would be a good time to resume sticking  needles in a voodoo doll that resembles the seller. Kidding…do that on your own time.

5) While waiting for someone to do something that they previously forgot to do, why not take the time to call the gas and electric company that you will need to use. Usually can be done over the phone.

6) Now might also be a good time to gather info: How do I get my name programmed into the front intercom of the building (if applicable), what is the Mgmt. company’s contact number, and who is the contact? How will I receive my monthly condo dues bill?

7) What should you do with all the paperwork given to you on your day of settlement?
KEEP THEM HANDY. Do not lose. You will need to refer to this paperwork again, I guarantee you. Especially at tax time.

8)  If you realtor did a good job for you, then brag about them to your friends and family in the future. See that others you care about, get the same good treatment. If your realtor was as valuable as say a bag of nails, then you will know who not to call in the future. If I was your realtor, and I could easily be compared to a bag of nails, then perhaps a good swift “thump” up the side of my head would be appropriate.

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

My FAVORITE city: Philadelphia!  This is where I live, eat, sleep, work, and play.  I love this City!  And it looks like we are finally getting the recognition we deserve from folks all around.  Even National Geographic has published an article called Next Great City: Philly, Really.  Here is a brief excerpt for the article:

"For years, I’ve been hearing great things about this city of 1.4 million on the Delaware and Schuylkill Rivers. Newspaper articles speak of innovative development projects. Friends return from visits amazed that the nightlife is actually lively. "It’s no longer D.C. on a bad hair day," as one jokes.

Philadelphia, I discover, comprises 152 distinct neighborhoods, ranging from working-class South Philly to yuppified Manayunk to ivied University City to up-and-coming Northern Liberties and Fishtown. But it is the Center City, the heart of downtown, that’s energizing the rebirth. Trendy restaurants and condominiums abound. A soon-to-be-completed Cesar Pelli skyscraper, the Cira Centre, just across the Schuylkill River, forms a daring twist in the cityscape. The striking Kimmel Center, with its digital-age design, is the new home of the Philadelphia Orchestra."

Click here to continue reading the article.  Then leave me a comment or drop me an email at Mark@CenterCityCondos.com and let me know what you think….Is Philadelphia the next great City?

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

Virtual Doorman (TM of Virtual Service) is the 21st century equivalent of the standard doorman. The system integrates all the responsibilites of a standard doorman into one, state-of-the-art system. The technology provides access control systems to regulate who can come in and out of your Center City Condo, video security so building activities can be monitored, fire and burlgar alarm monitoring so emergencies can be reported immediately, and interactive video monitoring. Residents and other individuals wishing to enter the building do so by using a card reader at any of the access doors. This interface is intuitive to anyone who as used an ATM. A neat feature about this is that individual doors can be set with different access privileges and cards can be allowed into the building dooring specified time intervals. This is great if, for example, a cleaning crew should only be allowed through the back door from 1pm to 3pm on a given day.

Video monitoring is accomplished through the use of reliable, high-resolution cameras. Integrating mini, aesthetically placed indoor cameras and durable, all-weather outdoor cameras provides full building video monitoring. All captured video can easily be recorded on to a DVD in the event of a crime or other emergency. The intercom system allows a visitor to connect with a tenant from the supplied list of tenants. If, for any reason, the tenant is not home or unavailable, the visitor may interact with the Virtual Doorman (TM of Virtual Service) system. Once the tenant allows the visitor into the building via a button on their intercom in their room, they are able to follow the visitors progress to the room using the in-building cameras. The cameras are integrated into the intercom system.

This service can be used in place of the traditional doorman service to eleiminate the operating cost of a 24-hour doorman, which could in turn lower your condo fees, while providing equivalent, or in many areas, improved levels or service and reliability.  Leave a comment or drop me an email at Mark@CenterCityCondos.com and let me know your thoughts on this groovy new technology!

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

A condotel can be defined as a condominium building that looks and acts like a hotel. A hotel generally has one owner, as where a condotel is going to have as many different owners as there are units. Condo hotels are sold as second, third  homes, but they are not typically sold as primary residences. In fact, many of them limit the unit owner’s usage of the unit because that unit is expected to be included in the hotel’s inventory of rentable units. As the owner of a condo hotel unit, you may place your unit into the hotel’s rental program where it will be maintained and rented out for you, just like any other room in the hotel. As owner, you receive a share of the revenue that the rental of your room generates. So it is kinda’ like being a mini hotel owner. You own just one unit, instead of a giant hotel. While there are many advantages (income from renting your unit out), there may be a heavy maintenance fee which can take a serious bite out of the potential for helping pay your mortgage.

Is Center City Philadelphia ripe for such a project? With the continued growth in popularity of Philadelphia as a tourist destination, and the demand for upscale hotel rooms seemingly strong, I would suggest that such an offering might go over fairly well here in our fair town. It is indeed an option for those looking to invest their money somewhere, as uncertainty in the stock market does give some investors pause. This idea might be great for someone looking to diversify their holdings, who might want have say a son or daughter here in school, whom they might want to visit on occasion. We certainly have a large number of teaching hospitals and higher education opportunities in town.

I get a lot of traffic on my site from potential buyers looking for a few day stay in town, every blue moon. Be it for visiting friends and family, or to reestablish roots where they once lived, or just as an “every now and then” place to visit, I think Center City Philadelphia would be an excellent location for a condominium-hotel-aka-“Condotel”.

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

Being the fabulous, urban Philadelphia condominium realtor that I am, I have an image to uphold. I drive a fancy car, wear the right clothes, and can be seen in all the “in” restaurants. I am a realtor snob, and if I were a female, I might just be draped in diamonds, furs, and white elbow length gloves. You know the type. Fabulous can be a realtors middle name.

But please allow me to be the first to say…We just bought a small vacation home, and…We have Formica brand countertops…and I LOVE them. They are easy to clean, glasses sometimes don’t break upon impact with this countertop, and seldom does this product chip, fade, or need to be regrouted between seams. And when we get sick of it, we will choose another Formica Brand countertop….from our local hardware store.

And for all you housing snobs…guess what?! I have berber carpeting in my new master bedroom, and I DON’T CARE. I kinda’ like it. Again, cheap, easy to maintain, is comfortable to walk on, and when we get sick of looking at it, we will simply take it out back, and throw it in the neighbors dumpster. Let’s see you do that with you old worn hardwood flooring.

We don’t have California closets…we have the Home Depot knock off specials. The fireplace is about as real as Phyllis Diller’s hair. It ain’t authentic, and I don’t care what you think.

Ok, so the brass doorknobs are a bit cheesy these days. But so is that maroon “Members Only” jacket in my closet that I refuse to discard. Oh, and don’t even get me started on the ceramic tile in my bathroom that isn’t ceramic tile, but linoleum that looks like tile. I like it, it cleans up real nice, and didn’t cost me a lot.

I can let my hair down around my new formica, berber, and fake ceramic tile. Simplier can be better. Especially in a vacation home where you don’t want to put on any airs, and you just kinda’ want to kick back, and be yourself. If I could just find a used 1972 Ford Pinto to park in this driveway, my life would be complete.

Not all Philadelphia Condominiums need to be fancy to meet your needs. If you are looking for a smart, simple condo to suit your tastes, why not give me a call at 215-521-1523 or drop me an email at Mark@CenterCityCondos.com, and let me show you some Philadelphia condos that fit your needs!

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

After having lived here in downtown Philadelphia, I know a few things that I would like to share with the folks just moving into downtown for the first time….
 
1) If you live in a condominium building or loft,you can have your dry cleaning picked up and dropped off at your home. For nearly 17 years now, I have been using:
Paul Catellano Dry Cleaning Services 1-609-617-4291  He does dry cleaning, wash and fold service, and is always friendly and reliable-no charge for pickup/delivery
 
2) If you plan on getting around town, from time to time via cab, I like Olde City Cab at 215.338.0838  Again, friendly and reliable, the best in town, in my opinion
 
3) Looking for a kinda’ hip, swanky kinda’ place to have a drink? Try “XIX” at the Bellevue at Broad and Walnut Streets (19th floor of the Park Hyatt). Nice surroundings, with not a lot of attitude. Very Philadelphian of you….
 
4) Don’t join a gym until you have seen the Sporting Club at the Bellevue. Probably will be one of the most amazing things you will see. Huge doesn’t do this place any justice. BIG BIG BIG, clean, and nice classes all day long. Opens super early, closes very late every day.
 
5) Getting from one side of Center City to the other on the weekends is easy if you use Market Street and JFK BLVD.
 
6) Looking for cheap diner food at 2am on any given night? You want to go to Little Pete’s at 17th and Samson Streets.
 
7) Need any bath accessories? Try WaterWorks at 1525 Walnut St.  Some really high quality stuff!  from towels to faucets….
 
8) Cheap Weekend breakfast? Zeke’s deli on 5th street between Spruce and Pine. Service is always friendly, and food is reasonable. A nice clean place!
 
9) New to our TV viewing area? Most Philadelphians watch ABC 6 action news. I don’t know why…but I like them too….
 
10) Looking for some high end appliances? Check out ABC appliances over the bridge in Jersey. Nice folks, nice supply of higher end appliance, etc.
 
For other vendors I like, more related to real estate, vist my site, www.CenterCityCondos.com, and click on the “Vendor” menu button.

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