Philadelphia Condo Market ~ By CenterCityCondos header image 1
October 31, 2012 @ 10:30 am

Two Hot Selling Philadelphia Condominiums Fall 2012

Waterfront Square and Ten Rittenhouse Square are holding their own in the Philadelphia Condominium market in terms of sales this fall 2012! 


 
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September 25, 2012 @ 11:23 am

Fixed Price Condos in Philadelphia

Mark talks about the ups and downs of pricing policies, such as "fixed pricing models" that have been seen in some Philadelphia Condos...two examples are Locust Point at 25th and Locust and Hawthorne Loft Condos at 712 S. 12th St. 


 

A lot of buyers are used to negotiating so they may have a tough time getting used to fixed pricing models, but if you know your market you will realize that fixed prices are always aggressive and generally are not inflated. 
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September 25, 2012 @ 11:16 am

Drama When Buying a Philly Condo

A lot of folks think there needs to be fighting and drama to be a winner when it comes to a Philadelphia Real Estate transaction. This isn't necessarily the case. Generally speaking, condo buyers always want to pay less and sellers think they deserve more, but when it is all said and done, there is usually no reason for drama when purchasing a Philly condo




This isn't to say that it never happens. There is always that occasional Philadelphia Condo seller or buyer that picks apart every line of the agreement of sale...these are not my favorite deals but we get through them only to realize there was no need to get our panties in a bunch after all! 

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September 25, 2012 @ 11:07 am

Philadelphia Condo Repairs vs. Credit

Every Philadelphia condominium agreement of sale comes with a home inspection contingency. Every home inspection reveals some sort of defect...be it a double tap, water stain, burner that doesn't ignite, etc...most Philadelphia condos for sale are used and have been lived in. There is no such thing as perfection. 




If you have the option of taking a credit, or having the seller repair items- 
GO FOR THE CREDIT. Because more often than not, 
you or your contractor may not like the way the seller does the repair. 
Then we all have a problem….
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September 25, 2012 @ 11:03 am

Center City Condos With Super Low Condo Fees

I am always shocked when I go on a listing appointment and a seller rants and raves about how low their Philadelphia condo fees are, and how fabulous and wonderful that is...If all your condo fees are paying for is water, sewer, the 6 light bulbs in the hallway, and master insurance...and you folks are not putting money away for repairs, upgrades, and maintenance...this is killing the resale value of your condominium.


If the front door doesn't close properly, the hallways are dirty, there are warped boards on roof deck, 
and peeling paint on the exterior windows, buyers will think your condo is a piece of crap! 

You get what you pay for...

Like children, cars, and nice clothes, your Philly condo needs maintenance to retain it's value. 

My advice is to get on the board and vote to raise those condo fees to put money into your building 
because a buyer's first impression is made before they even walk into your unit. 


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September 25, 2012 @ 10:47 am

REO’s Can be the Best Deals in Philadelphia Real Estate

There is an interesting phenomenon in Philadelphia real estate called "REO's" aka Relo's" aka "corporate owned" properties. In the 1980's I specialized in Real Estate Owned Philadelphia condos. This is bank inventory that can be acquired in a number of ways. REO's are a close cousin to foreclosures. 


An example of how a Philadelphia condo can become an REO is when "Suzie" works for a company such as IBM. IBM says, "Suzie, we want to promote you and move you to another state." So, IBM buys her condo and sells it through a third party intermediary . 

IBM (or whatever company may be relocating their employee) is not in the business of owning condos so they hire a 3rd party to get rid of it. These Philadelphia condos are usually very competitively priced and generally sell for less than asking price. Now, of course, every sale is an anomaly, but generally, corporate owned properties are owned by people that have no emotional contact to the property and therefore, they just want to get rid of their inventory as quickly as possible.  

If you come across one of these condos in Philadelphia, you can get a phenomenal deal! They are generally priced competitively. I've been selling these for 20 years. Buying an REO is a great way to snag a property that may have been out of your reach. I always push my buyers to look into these and they end up singing and dancing in the street! 
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August 17, 2012 @ 12:36 pm

The Beaumont Condominiums in Old City Philadelphia

Located in The Old City neighborhood at 110-112 S. Front St., The Beaumont is a beautiful 12 story building with very strong finishes and a modern twist. I am one of the very few Realtors in this town who has been in the Penthouse, which is absolutely amazing! 



Learn more about this fabulous Philadelphia Condominium by checking out our Center City Condo's Beaumont Page
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July 26, 2012 @ 2:42 pm

Condo Fee Myths

Condo fee myths

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June 20, 2012 @ 1:39 pm

The Rittenhouse Plaza

Mark discusses the Co-Op Building at The Rittenhouse Plaza at 1901 Walnut St.

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June 20, 2012 @ 1:34 pm

Phoenix Auction

Mark discusses the auction at The Phoenix condominiums.

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June 20, 2012 @ 1:30 pm

Lofts at Bella Vista

Mark talks about the Lofts at Bella Vista.

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June 20, 2012 @ 1:26 pm

Independence Place Condos

Listen to Mark discuss Independence Place Condos in Society Hill.

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June 19, 2012 @ 2:28 pm

Rittenhouse Square and Fitler Square

Listen to Mark discuss what it's like to live on Rittenhouse Square and Fitler Square

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June 19, 2012 @ 2:12 pm

Academy House Condos

Mark talks about Academy House Condominiums

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June 19, 2012 @ 2:10 pm

108 Arch St. Condos

Mark talks about the condos at 108 Arch St. in Old City.

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June 19, 2012 @ 1:38 pm

The Aria Condos

Mark discusses the Aria Condos in Philadelphia.

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June 19, 2012 @ 1:22 pm

Let’s Go Condo Shopping

Mark loves shopping for Philly Condos!

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June 12, 2012 @ 1:26 pm

Will my Philly Condo Fees go up?

Mark discusses some factors that may affect this answer.

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June 12, 2012 @ 1:24 pm

Oh No You Didn’t…

Wise up goof balls! :)

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June 12, 2012 @ 1:23 pm

Future Philly Auctions

Its sure enough to happen...

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