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April 3, 2008
I see these violations all the time. And it’s not like there are condo police hanging outside your doorstep to see that all the rules are followed all the time. Except in this one Old City condo building I know of …
1) Most condo doc rules state that 70% of the floor area must be covered with carpeting. I can’t tell you how many times this rule is violated. I would have to guess about 95% of the time. Could mean more noise transferring throughout the building…..
2) All Philadelphia condo doc rules state (all that I am aware of) that you cannot have a BBQ or grill on your deck. At least from the way I understand it, a BBQ that uses anything other than gas or propane to heat the food. A good strong wind could blow away hot BBQ bricketts, I think is the logic there. Violated all the time.
3) No loud or offensive noise coming from a TV, or stereo, or just loud rowdy behavior after say 10 or 11pm. Like that never happens….
4) No smoking in common area. Remember back in the 70’s or 80’s when you would get into an elevator with someone who was smoking, and it was acceptable? It’s not anymore. Or in the foyer, or the common hallways.
5) Pet Restrictions. I see weight limits being skirted all the time. I actually am in favor of this, as some pets get old, and like a few K-9’s I know, overweight. I think old dogs should be exempt from this rule, even if they are large to begin with.
So it begs the question, should you, or should you not closely police the rules and regulations of your current Philadelphia condominium documents? You decide….I would have to guess that the most annoying complaint of all the above would be the lack of quiet after a certain hour of the night. I think if I were in charge of the association, I would be crackin’ the whip on that issue.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
April 1, 2008
I have been in countless number of Philadelphia condominiums over the years, and I would have to say that a few of the coolest things I have seen in these homes, are some very cool, almost James Bond like features to Center City condos.
1) The hidden wall safe. Cliché in nature, and a bit trite, but very cool. I have even seen wall outlets that are little mini safes. Very discreet.
2) Fingerprint door locks. Simple to install, and very hip, these locks open only when you press your thumb over the scanner, and the scanner recognizes your thumb as belonging to you. Hopefully.
3) The secret room hidden behind a door that swings on a piano hinge. I once saw this in a condo in Queen Village years ago, and it about knocked my socks off. Like a kid’s dream come true….
Just thought I would share with you a few things I have seen in this town that were a bit on the unusual side of things…..and very sure to scratch the itch of every spy novel fan here in town…..
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
March 25, 2008
Not too long ago, in a not too distant galaxy (that being Philadelphia, Pa.), we used to sell real estate the old fashioned way. We busted our humps. Now I am not saying we do not work hard, but in looking back to when I began in the business, it does seem that life has gotten a little easier. Or maybe it is just as difficult, handling more deals at one time than I used to be able to do.
For instance, there was a time when lock boxes didn’t exist here in the Center City real estate landscape. If you wanted to show someone else’s listing, you had to go pick up the key. Multiply that by 12 condos you want to show, and it seemed an afternoon was spent picking up keys, the next afternoon showing those Center City Condos, and the next day returning those keys to various offices throughout town. Our MLS system had yet to be computerized, and the “books” would come out once a week. I remember those one dozen weekly 60 page catalogues of Center City condos and homes. With just one photo, and jumbled abbreviations to describe the property, it was a wonder we were ever able to identify properties that would fit our buyer’s needs. Comparables were very difficult to illustrate, as the information just wasn’t there. A lot of hearsay was used to support value. And appraisers….how did they ever do their job? The way we really got our information was via flyers that listing agents would drop off to our office in the hope of promoting their listings to get some showings (from cooperating realtors). But a hot listing was another story, and there were a lot more “in-house” sales. It was pretty much a given that a hot, well priced, nice home was going to sell within that particular office that listed it. How were the other agents to find out about it? Especially if you missed the weekly deadline for the MLS book that week. Then the word wouldn’t get out for almost two full weeks that you had a new hot listing.
Juggling emails, text messages, and being in contact with my buyers and sellers almost 24 hours a day now is equally taxing-much more efficient, but certainly a lot busier. Lockboxes abound, as fax machines, and efaxes. But work is work, and in the broader light of day- things here in the Philadelphia real estate game really haven’t changed that much.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
March 20, 2008
Now that is a really good question. Is that two bedroom unit- be it a loft or not, really a two bedroom unit, or is more like a one bedroom with a den, or even just a large open space, where a bedroom could go “here” and another bedroom ”there”?
As a long time Philadelphia realtor with Prudential Fox and Roach Realtors, I have seen a fair number of condos in Center City that really aren’t what they are advertised to be. Odd that realtors can be creative, and crafty, eh? Now I am no saint, and I am well aware of the fact that I may have stretched the limits of reality when I exclaim that my new “two bedroom” loft is either this or that…..
It seems that the laws governing the traits that constitute a bedroom vary from state to state. I have heard many things from many realtors across the country. Sometimes I hear that in order to be a true bedroom, a room must have a closet. Or to be a bedroom, it must have a window. Or a window and a closet. I am really not sure what does and does not constitute a bedroom in a condo in Philadelphia, but I pretty much do know a bedroom when I see one. Here is what I believe: If it looks like a bedroom, and operates as a bedroom, then I think it is fair to call it a bedroom. Although I will usually make a notation somewhere that “legally, this center city condominium may be a one bedroom, but it does play like a two bedroom.”
For instance, I have sold a number of units along Spruce Street and Clinton Street in Washington Square West in which the second bedroom does not have a window, rather that room is open ended- and the “second bedroom” overlooks the living room in a loft like fashion. But it does have a door, and a closet, and I do find that a lot of buyers who are in the market for a 2 bedroom condo will find this arrangement acceptable. What I find objectionable, as do many of my buyers looking to purchase a condominium in Philadelphia is the open loft space that has NO defined bedrooms, but is advertised as a two bedroom unit. Perhaps the listing agent of that loft condo thinks that we are so clueless that we will somehow miss the fact that there are no bedrooms. It hasn’t happened to me yet, but there is always a first time for everything.
In most cases of Philadelphia loft bedroom count issues, the question is a fairly simple one: Does a loft bedroom, open ended and not completely closed off constitute a bedroom? I think that it does, and I think that most of my Center City condo buyers agree.
So when your interested in looking for a loft or condo here in Center City Philadelphia, with or without a "bedroom", give me a call at 215.521.1523 or drop me an email at Mark@CenterCityCondos.com.
Mark Wade
www.CenterCityCondos.comPrudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
March 11, 2008
How? Easy. Drive your car off a cliff. With the proliferation of the car sharing companies here in Center City Philadelphia, you might want to ask yourself, seriously, do I really need to own a car? You might be surprised. Most parking lots around town now have designated spaces for these hourly rental cars.Let’s look at the general/average monthly cost of a new car here in town:
Parking $200
Insurance $300
Car payments $400
Tickets, gas, etc. $100
Cost of being carless: Priceless!
With nearly $1000 a month in saving, you have now transformed your Philadelphia condo shopping possibilities from a one bedroom to a two bedroom. Or maybe you have gone from an existing somewhat “used” condo to a new bright shiny, never before lived in, say, Rittenhouse Square condo.
Being carless is something that is hard for most Center City condo buyers to imagine. Like freckles, or unmanageable hair, it is something that we possibly have lived with all of our lives. Imagine the freedom you can mentally experience without the burden of owning a car. I did it here in town for five years, and let me tell you- it was a joy!
So to all those Philadelphia loft or condo buyers who are struggling to find what they want, think about the possibility of shedding 2000 pounds of ugly fat. Drive your car off a cliff. Or sell it. Whatever. If you simply look into the easy and availability of the new car sharing programs here in town, you just might be pleasantly surprised at what you can now afford in the Center City condominium market!
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
March 6, 2008
As a maven, devotee, fan, fanatic, aficionado, supporter, and all around nut-bag with all things “Center City Condos”, I believe I am aptly centered to give my opinion on the subject. Some human beings can cite sports scores and statistics of their favorite sports teams or players, and simply confound you with their knowledge. My sport happens to be Philadelphia condominiums. Go figure. Here is what I believe is happening in our market as of 1/1/08…..
The fall 2007 market, duplicating the fall market of 2006, literally sucked. Best described as a period of time that saw the influx of bad press, and potential bubbles, we saw buyers stand by the sidelines and basically wait things out. Not unexpected. We still had buyers coming into town who had sold their previous residences elsewhere, and we did see an average amount of transferees move into town. But the buyers who really didn’t need to buy? They stood waiting on the sidelines. Not out of the picture, but not in a ready willing and able position to pull the trigger on that new condo sale. I saw it not only in a lack of sales within the Philadelphia realtor community, but also in the new construction high rise sales staff who would often question me as to the market- I guess to make sure that they weren’t the only game in town that happened to be stagnant. Inventories around town have continued to increase, and sellers began to get a bit itchy. Itchy to individual sellers translates into a lowering of prices, or an increase of commissions. Itchy to big developers and new construction folks means increased incentives from free flat screen TV’s to free upgrades within the condo units.
They say all real estate is local. I agree. The subprime mortgage mess, and the foreclosures that seem to be swallowing towns like Detroit and Des Moines, hasn’t seemed to affect our market. However, the emotional impact does resonate. Buyers are a bit more cautious, and are just hanging out, without any real wind blowing their sales needs at this time. Ditto for sellers. We are not seeing a lot of new product (in terms of individual sellers) coming on the market.
As far as the new year is concerned, I see a lot of room for optimism. What doesn’t happen in the latter part of the year, happens in the new year. It appears that the Philadelphia condominium market will duplicate its behavior of 2007- A strong first nine months, then dead.
Those buyers who have been waiting by the sidelines will jump into the market. They now realize that perhaps the “sky isn’t falling” as earlier predicted, and they buy and sell. Happened the same way in 2006. And I can tell already by the number of people who are visiting my site , the length of time they stay on the site, and number of return visitors, and the number of those who ask for additional information, or say they are now ready to shop for their new Philadelphia condo.
Mark Wade
www.CenterCityCondos.comPrudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
March 4, 2008
Congratulations! And welcome to our fair city! First thing I would do if I were you-Get your locks changed. You have no idea of how many people have had access to your Philadelphia loft or condominium unit prior to your purchase. From the past owners best friend, to the home inspector, to that odd Philadelphia realtor, or odd plumber for that matter. You have no idea. So change your locks.Make sure that you have called PECO, and if you have gas service, that you have called the gas company. And good luck with the gas company. Also, the cable company, and the phone company are calls you will want to make soon after purchasing your Center City condominium. You don’t need to call the water company, regardless if you buy a Philadelphia condo, or a townhouse, as the title company will make that adjustment at the settlement table. Certainly, you will want to make sure your mail gets forwarded to your new (say) Rittenhouse Square condo, or your Old City loft, whatever.
More often than not, the closet space inside the new piece of Philadelphia real estate you just purchased is not up to snuff. I would call Lowe’s or Home Depot, or wherever, and have them re-do the insides of your closets. It seems like a fairly minimal cost, and you honestly will be able to double the usable space inside the closets of your new place. And certainly a good investment for resale, as a lot of Center City lofts lack such organization inside the closets.
Oh, and make sure you read through the local, mostly free publications like the Philadelphia Weekly, or something similar to stay on top of events, social networks, and general goings-on’s here in town. There is ALWAYS something going on….from glass blowing demonstrations, to fun little dog park get togethers.
It is hard to be without something to do here in Philadelphia, and once you have made arrangements for your locks and utilities, it is time to get out there and enjoy everything the Center City condominium life has to offer – Now go live your life, and have a blast doing so!!
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
February 27, 2008
I am often asked to consult with my buyers when it comes to new construction purchases. From coordinating the “kitchen cabinet color with the granite and tile backsplash”, to helping choose stains for hardwood flooring, and matching wall color, I am often adding my two cents. I think I have a pretty good eye for what is hip and in vogue in terms of the Philadelphia condo buyer.
One thing I find interesting, is the overwhelming substitution buyers are making in favor of hardwood flooring in their bathrooms and kitchens, in lieu of traditional tile flooring. The diminished role that tile flooring plays in the design of many Rittenhouse Square condos, is evened out by the increased use of tile on bathroom walls. Not just surrounding the tub or shower stall, but we are seeing it’s increased use on bathroom walls, and of course, kitchen backsplash areas (the space between the upper and lower cabinet).
Another trend I like, is the increased use of textures, and natural materials on surfaces throughout the home, like a kitchen island area, or again, as a substitute for the traditional tile backsplash. A number of "green" items have made a popular entrance into the Philadelphia market, most noticeably at the Winne Building, with the help of Greenable Philadelphia. Hip, and green, some of these products are a perfect fit for a new Old City loft, or Society Hill condo.
Think about stepping out of the box when planning your next Philadelphia condominium. Mix your textures, in otherwise uncommon areas of your new home, and you might find yourself living the life many of us just dream of. Your condo should be representative of your individual taste and style, and go ahead….live a little!
Mark Wade
www.CenterCityCondos.comPrudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
February 25, 2008
I came across this great article the other day. Tom Acitelli of The New York Observer had this to say about the new trend of New Yorkers relocating to Philadelphia:
"Since 2001, 8,334 New Yorkers have moved to Philadelphia and stayed. Most—3,957—moved from Brooklyn. After Brooklyn, most émigrés hailed from Queens (2,160); and the Bronx, Manhattan and Staten Island, respectively.
What makes Philly so attractive? The Rocky statue atop the art museum steps? That’s been moved. No: It likely comes down to real estate.
Although exact numbers are difficult to find, Philadelphia home prices, generally, are absurdly low compared to almost any area in New York."
The rest of Tom’s article can be read here.
As a realtor for 19 years here in Center City Philadelphia as well as an owner of an Old City Condominium, I’d have to say that I agree with these New Yorkers that Philadelphia is a great place to live! So, when you are ready to head down the turnpike and look for a great loft or condo here in Center City Philadelphia, give me a call at 215.521.1523 or drop me an email at Mark@CenterCityCondos.com.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
February 14, 2008
I live in a low rise Old City condominium building, and really enjoy the lifestyle. I have all the modern conveniences one could reasonably expect in a three year old restoration of an old warehouse building.
But I can’t figure out how to program my thermostat. I have been living with this computer like device on my living room wall for a number of years now, and I still don’t have a clue how it works. It is supposed to save me money. For the life of me, I can’t figure out how it works. Ditto for the TV and the DVD player. I know how to turn it on, and I know how to record a program on my On-Demand feature. But heaven help me on the days that the remotes are sitting on the couch, and the dog inadvertently steps on the buttons on the remote. Then I am totally screwed. I don’t know how that thing operates….for crying out loud…there are a total of four remotes, and I don’t have a clue, the time, or any inclination to become familiar with all that crap. I have better things to do. Like sit on my can and watch Seinfeld reruns.
Am I the only one? Is it possible that I am the biggest moron in this town? Some things are just too complicated for their own good. And I know I am not the only one who doesn’t know how to program their thermostat. In my opinion, some things are better left idiot-proof. Like the old thermostats, that you simply turn either left or right to control. And don’t let me chew your ear off about the TV remotes either.
If you are shopping for components for your new Philadelphia condo, don’t get in over your head. Keep it simple. You never know when a moron like me is going to be your next buyer, and just might be scared off by your hi-tech know-how. I like my condos user-friendly and simple. Like me.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
Tags: Center City condo, Center City Real Estate, condominiums, condos, philadelphia, Philadelphia condo, Philadelphia condominiums, Philadelphia condos
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