Philadelphia Real Estate Blog

…ok, don’t answer that…and no, thats not a photo of me.
 
Top 5 things I can’t get Philadelphia Loft and Condo buyers to believe:

1) It is OK to paint exposed brick
2) Carpeting is OK in your bedroom
3) There is no difference in value between say the 33rd floor, and the 34th floor
4) A super clean older kitchen will sell just as well as a stainless steel, dirty kitchen
5) You will never recoup the costs of a new heater and new central air conditioning system
 
Don’t believe me? Well, get in line. Most don’t. But it is not like I am employed by the “Painted exposed brick” lobbists, or anything. I am just telling you what I know from my 20 years experience selling Philly real estate.

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

…then explain the value difference between these two Philly condo buildings:

These are two actual side by side buildings on Spruce St. in Washington Square West.

So you have a big brain, and you think you are going to take a look at Trulia, Zillow, or one of the many fine real estate websites out there in CyberSpace, and you are going to come up with the true value of any given condo. Really?

You can’t tell me that condition does not play into value. How about showing ability? You go into the public records and find a two bed, two bath in such n such zip code should sell for say $500,000. Really??? What was the condition of the Washington Square West Condo?  Was the building well maintained?

My point is, sometimes you need a realtor who knows his or her market to help you make valid decisions. There are many issues that affect value, that reading a webpage about any given Philadelphia condo may NOT tell you…

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

 …when the truth is more than enough:

 

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

Per many Philly condo associations, the backside of your curtains and blinds may need to be white in color. You may ask why…but drive by any poorly managed condo association who does not enforce such a rule, and you will see why. The building ends up looking like an unattractive collection of cheap, and often unattractive variations of ugly looking blinds/shades/curtains. From Mauve, to Sea Foam Green, the rainbow of cheap shades is not an attractive sight.

And If I were king of the world, or even a developer of a Philadelphia high rise condo, I would go as far as to include a high end line of blinds/shades into my sale price. Because the visual uniformity is going to be important in the overall impression a building gives off when viewed from street level. We have all seen, or perhaps even been guilty (usually in our college years) of using a bedsheet as a curtain. And god knows bedsheets come in some funky colors and patterns. Not the best look, when trying to visually highlight a condo building from a distance.

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

Remember 1990, when pickled oak was all the rage? 

 
How about blond (maple) in the mid 1960’s? And of course Java colored wood tones of the past few years? I wonder what will be the latest and the greatest wood tint/hue/shade that will be popular in say 2011. Being a long time realtor, you can almost date the age of any rehabbed historic home by the color of the hardwood floors and/or kitchen cabinetry. Dark brown oak? Sooooo 1976. And to take it to another level- all white formica kitchens? Yeah, back when Duran Duran was on MTV, and cell phones where the size of bricks.

I like to think I am pretty much on the cutting edge of real estate fashion- I saw stainless steel appliances coming down the pike years before the masses. And don’t get me started on that dumbass country kitchen look. Ugh. That maybe fine in Utah, but Center City Condos (thankfully) ain’t in Utah.
    
So here is my guess: Softer wood tones with a lot of natural accents- be it white glass, bronze colored appliances, and/or user friendly, less hi-tech appliances.

I think there is going to be a general dummy’ing down of some of the super sleek kitchens and household finishes. More or less to reflect our less extravagant times. Check back in a few years, and see if I am right.

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

…I love the smell of brake dust in the morning.

City living can be tough on the senses. From the wafting smoke churned out from passing busses, to the brake dust the collects on our front windowsills of our urban loft in downtown Philadelphia.

The flip side of the coin is that we are never woken up by early morning lawn mowing, aren’t bitten by mosquitos in the middle of the night, and we rarely have roosters waking us at the crack of dawn. Yes, city life is blessed with with a mixed bag of smells, sounds, and sights. I will never forget when I was huddled with a bunch of early morning commuters at the corner of 16th and Market one morning- waiting for the light to change so we could cross the street. Also waiting, was a rat. When the light changed to green, and we all proceeded out into the street, so did the rat. I named him “Commuter Rat”. Haven’t seen him since. I hope he is doing well.

And I know suburbanites don’t think that city living is really “real”….but my mind goes back to what Samantha said on Sex in the City one time about living in a big urban area: “A homeless man just showed me his d***”…It doesn’t get any more REAL than that. And it is true. There are many things we put up with in order to live the City Life. And I wouldn’t have it any other way…….

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

I found a very interesting little tid-bit in Readers Digest. For all you knuckleheads who have never picked out paint before, you should use view the following as gospel. I disagreed with one of their choices, so I deleted it.  (All colors are Benjamin Moore.)

Million Dollar Red (#2003-10): Good for dining rooms and family rooms. Just please use sparingly.

Potpourri Green (#2029-50): “Earthy and pale,” a neutral for kitchens and bathrooms.

Wood Grain Brown (#2109-30): Less red and more gray than Hershey’s Kiss brown, this is the color Mayhew used in her own dining room.

Gray Owl (#2137-60): Works in bedrooms or throughout the house.

Birds Egg (#2051-60): A blue with a “clean gray tint,” another all-purpose color for Mayhew.

Early Morning Mist (#1528): “Somewhere between gray and beige” is this versatile neutral “greige.”
 
–Source: Flip! For Decorating: A Page-by-Page, Piece-by-Piece, Room-by-Room Guide to Transforming Your Home by Elizabeth Mayhew (Ballantine, $24)
 
Want a few more decorating tips to make your Philadelphia condominium stand out? Drop me a note, and let’s chat!

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

It is really simple. I show you a condo. Then I ask…is this too small? What do you think of the view? The closet space? The layout?

Then we visit the 2nd condo, and the questions are: What do you think of this building? How do you like the location? Is the kitchen big enough?

Then we go to the 3rd condo, and I ask: How do you feel about rental parking being around the corner, as opposed to on-site? Do you like the bathrooms? How adverse are you to paying higher condo fees (for things like doormen, and elevators)?

 
Finding you the right (say) Rittenhouse Square flat, or say Old City loft is a function of how well you can verbalize your “dream condo”, and me being able to interpret what you say, and match that to the current Center City Philadelphia inventory of condos.

It is not rocket science. However, I am a fairly quick study, and I know the Philadelphia real estate market better than most (if you don’t mind me being a big-brain)….

So give me a call at 215.521.1523 or drop me an email at Mark@CenterCity.com. Let’s play 20 questions, and let’s see if I can come up with your dream Philadelphia condo!

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

Strickland Row condos are named after William Strickland, who was a noted architect in 19th century Philadelphia, and is made up of a collection of six similar mansion-style homes, plus an adjoining approx. 8-story rear elevator building with about 68 individually owned units. It was declared a condominium in 1981. There are many variations between the units in detail and size. The largest is a massively gorgeous condo that is nearly 4000 sq. ft. All buildings surround an interior swimming pool and gracious green open space that few know of.

Characterized by a variety of sizes, styles, and layouts, Strickland Row offers some very competitive pricing for the Washington Square West area, and many of the units retain a high degree of original detail and charm. Incorporating some of the largest townhouses in Center City, the Strickland Row condos stretch from 1008-1020 Spruce St.

Parking can be rented about a block away at 11th and Clinton Streets, and easy access to Whole Foods, as well as Super Fresh on South St. makes living at these Washington Square West condos very convenient. You will find numerous neighborhood restaurants, as well as local video stores, and hardware stores with a block. This well known piece of Philadelphia real estate is valued for the low dollar per square foot, and many units have off-street settings which provide privacy, and a quiet setting.

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

I have a number of buyers come at me on a daily basis, each with their own wants and needs, who all have varying degrees in their need for parking. Some potential buyers don’t own a car, some have two cars, and some wish they didn’t own a car. I have some buyers who will not consider, NOT FOR ONE MOMENT, a condo building that does not have on-site parking.  Here is what I know about parking here in Center City Philadedlphia:
 
1) On-site deeded parking. This is where you always are guaranteed the same parking spot every day. Heavenly, but costly-and not always an option.

2) Valet parking that is on-site and a rental situation. And that usually costs you a buck or two everytime you greet the valet dude.

3) Valet parking that is licensed- meaning you pay a lump sum for the rights to a parking spot in the garage, and probably pay some additional condo fees for that right to park on site.

4) On-site parking, that is not deeded, but referred to as “limited common area”. Often self park. You don’t own the space, but you have full use and enjoyment of that spot.

5) A parking spot as a condo. As in the Park-O-Minium, or a few lots in town (rare).

6) Street parking. You pay $40 a year, and get a parking sticker which allows you to park on the street in your neighborhood.

7) Rental parking in a garage, within 50 feet of the front door of your condo building.
 
My two cents is pretty easy to explain- If substitutable, open up to the idea of option #7 and you just might find that the world is your oyster, as far as the number of different buildings that you now may consider. There are a high number of fine Philadelphia Condos that don’t offer on-site parking, but say across the street in a public garage.

Feel free to leave a comment or drop me an email at Mark@CenterCity.com and let me know your thoughts!

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