Philadelphia Real Estate Blog

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

As a Philadelphia realtor for the past twenty years, my livelihood depends on my ability to navigate the streets, and be the ambassador of good will to those looking to move to our fair city. Not easy to do when I am cussing up a storm at “this idiot” or “that dumbass” who seems to believe that there are no parking rules, or etiquette in terms of driving in our fair town.  If I were in charge of this city, here is what I would do on my first HOUR on the job, in order to improve the quality of life for those of us who live here in beautiful Center City Philadelphia:

1) Corner of 5th and Market. Try turning left onto 5th from Market…Good Luck-traffic is backed up to 8th street on a busy day during rush hour. And restrict ALL parking within a block of that intersection at ALL times.

2) Restrict the double parking on Market Street between 3rd and 4th. Morons.

3) Cut the red light duration (length of time) on N. 19th St. at Vine. Possible good time to check your voicemail at work though. And return all the calls.

4) Provide MORE loading zones around town. Enforce time limits more effectively.

5) Time lighting sequence of red/green lights all the way along Callowhill. Though still the fastest way to get from the east to the west side of town currently.

6) Ticket the tour buses who feel that it is OK to idle for hours in any given street – turning a two lane street into a clogged, one lane pile of waiting cars.

7) Either tow ALL the cars after 3:30 on Walnut from 4th-23rd, or take the signs down – It is pointless if cars are allowed to idle in that lane. Or at least have a traffic cop shoo folks away.

8) Actually enforce the “NO parking” in the median of Broad St. here in Center City.

9) Turn Bainbridge traffic in the opposite direction, and have it head west, not east.

Feel free to leave a comment or drop me an email at Mark@CenterCity.com and let me know if there are any other traffic nightmares around here I might have missed or just let me know what you think of the ideas that I have mentioned above….or if you think we are all better off just walking around in this City of ours which has been ranked 5th in Walkability nationwide!!  

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

Wouldn’t it be a good idea of the architects of many of the Center City condo projects here in town, consulted an experienced Philadelphia condominium specialist, when laying out the floor plans for their new Center City condo project?

I have seen some screwy ideas that have been implemented in the Philly condo market, and many of buyers are like….”what the hell?? ”   For example, one prominent building, which I think quite highly of, has the exact kitchen in the studio, as they do the jumbo penthouse units. This kitchen is ample for the penthouse, but takes up about 55% of the living area of the studio. 

 
Way to think things out, Columbo.  Studio units target 22 year olds (on the whole). I don’t know a 22 year old that owns more than two pans, a cookie sheet, and a measuring cup. So this huge kitchen detracts from the value of this particular Center City condo unit. 

Next up is a personal favorite, the popular $700,000 two bedroom Philly skyscraper unit (roughly 1250 sq ft) with no closet space. If my buyers can afford the unit, they are not interested in stuffing their Prada in an armoire.  It appears that if I compare/contrast the various floor plans of many new Philadelphia condos, I find an excessive amount of square footage used for hallways.

 Hallway space can easily be converted to walk-in closet space, with minor adjustments to floor plan, or “flow” of the unit. My buyers will tell you to shove the hallway, and give them a good walk-in closet or two!    

The point of this post is to always remember to give the buyers what they want. And who would know better about what specific buyers want, than an experienced realtor?

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

I just learned that one change that might affect buyers, is the fact that your mortgage company MAY INDEED pull a credit report on you, a few days before closing.  In addition to looking up your credit when they process your application, they are also pulling credit prior to closing to make sure nothing has substantially changed with your financial position, or you have not gone out and purchased a new car, a boat, applied for a slew of new credit cards, etc.

In almost every transaction involving a Philadelphia condo, there are TWO months “Capital Contribution” due and payable by the buyer at time of settlement. Basically, you have to pay the condo association an amount equal to two months of condo fees (all buyers do). This is just a neat little way for your condo association to stockpile dough. This is not you paying two months up front…this is money that is more like a one-time bill. Not really a bad thing, as everyone who buys into the building must contribute. More of a surprise to most Philly condo buyers than anything else.

And as a courtesy to realtors like myself, who don’t get out often (out of the city, that is…) please pick a title company who will do your title work at one of the realtors offices. At a bare minimum, it should happen in the same city, if not the same county, as the transaction. I truly am not interested in going to Erie, PA to close on a house because your mother’s neighbor’s cousin has a title company in that fine town.  I will bust my hump for you. But I ain’t going to Erie.  Please settle in town. I get the shakes when I have to go to the suburbs. It just isn’t a pretty sight. Thanks.

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

I have been around the Philadelphia real estate market for a long time. Since 1989 to be exact. I have heard, and seen all kinds of things. And I either cringe or laugh when I hear some of the absolute bull that comes out of the mouths of some of my contemporaries.I was once told by a peer that he had the ability to either make or break a certain sale. He had the power to “make” his buyers buy what he suggested. To which I replied, “Really?”…. In all my 19 years experience I have never been able to exercise such mind control. Perhaps it was his toupee that gave him such exceptional abilities. I have never been able to get a buyer to buy something they didn’t want.

Oh, and don’t ever believe a Philadelphia realtor when they send you a mailer that states “I have buyers waiting to buy your property”. What a load of crap. Perhaps these buyers will just buy anything, sight unseen? Or perhaps it is the magic of the toupee again doing the impossible.

And how many realtors claim they are #1??

“# 1 realtor in Philadelphia”

“#1 in Listings and sales”

“#1 in Volume”

“#1 in transactions closed”

How about: # 1 in Sales this side of the planet Pluto? Or, # 1 in the Universe? Or, # 1 in the galaxy. Please.  Again, I believe it is all crap.  ONE realtor is # 1 in our town, has been for a long time, and I will take a billboard out on I-95 to let you know when that changes.

I personally never claim to be much of anything, except I do boast a bit about being an expert here in the Center City condominium market (selling approx. 140-160 condos per year here in town).  Though I once tried to get my company to print up my new business cards that said “Member – Jillion Dollar Club”. I thought it would be pretty funny. I guess they didn’t see it that way.  Perhaps being a Jillion dollar seller is just more “out there” than being the # 1 realtor in the Galaxy….

And just in case – I am neither the # 1 realtor in the galaxy, nor am I am member of the Jillion dollar club.  So if you are looking for a realtor who knows a bit about Center City Philadelphia but isn’t #1 of anything, then give me a call at 215.521.1523 or send me and email at Mark@CenterCity.com.  You may just get a prize for being my jillionth client….just kidding!  

Mark Wade

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