Philadelphia Condo Market ~ By CenterCityCondos header image 1
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! 
00:0000:00
Share | Comments | Download(Loading)
August 17, 2012 @ 12:36 pm

The Beaumont Condos at 110-12 S. Front St. Philadelphia, Pa. 19106

Located in the Old City/Society Hill section of Center City Philadelphia, these condos are new(er) construction condo that were built around 2005. One unit per floor with a huge two story luxury penthouse! 



All condos have parking and most condos have 360 degree views! Learn more about this fabulous Philadelphia Condominium by checking out our Center City Condo's Beaumont Page. 

Click play button below to listen now! 
00:0000:00
Share | Comments | Download(Loading)
July 26, 2012 @ 2:42 pm

Condo Fee Myths

Condo fee myths

00:0000:00
Share | Comments | Download(Loading)
June 20, 2012 @ 1:39 pm

The Rittenhouse Plaza

The only real pre-war high end co-op building in town. Sits on the north side of Rittenhouse Square and was built in the late 1920's and retains many nods to the Art-Deco style inside and out. Value per square foot is not negatively affected by the fact that it is a "co-op" instead of a condo and taxes are included in the monthly fee. 



No parking at the building but tons of garages nearby..Such a wonderful variety of units in this building and phenomenal Penthouses! 

Click Play Below to Listen Now! 
00:0000:00
Share | Comments | Download(Loading)
June 20, 2012 @ 1:34 pm

Phoenix Condominium Auction

Mark discusses the results of the auction of 40 units at The Phoenix Condominiums in 2010.



UPDATE: The long-term results were nothing short of a huge win for the condominium association as a whole, and the Phoenix is now one of the hottest selling condo buildings in town. By reducing unsold inventories, the association has taken shape, and the building is not subject to future price reductions - there would be no need with demand strong.
If we look at the resale market Phoenix in the past year, I think it indicates some stability- the units don't sit on the market for long, and have sold well. 

Click PLAY below to Listen Now! 


00:0000:00
Share | Comments | Download(Loading)
June 20, 2012 @ 1:30 pm

Lofts at Bella Vista

Mark talks about the Lofts at Bella Vista.

00:0000:00
Share | Comments | Download(Loading)
June 20, 2012 @ 1:26 pm

Independence Place Condos at 233-241 S. 6th St. on Washington Square!

Two buildings (233 S. 6th and 241 S. 6th)- Most buyers comment on the great light, generous balconies, and love the location on Washington Square. Rental parking in basement of condo isn't cheap, but is available. Common areas viewed as kinda' modern- not dated at all. 

Resales are good in terms of ability to sell- if priced right. Popular with med students (the one bedroom condos). Bi-level penthouses can be huge in size. potential buyers comment often on great views, ease of guest parking and willing front door staff. Pool adjacent is not a part of these apartments for sale- but proximity is great to that PSC gym. 

Click Play Below to Listen Now! 
00:0000:00
Share | Comments | Download(Loading)
June 19, 2012 @ 2:28 pm

Rittenhouse Square and Fitler Square

Listen to Mark discuss what it's like to live in two desirable Center City neighborhoods: Rittenhouse Square and Fitler Square.

Fitler Square is actually a pocket neighborhood situated in the Rittenhouse Square Area. Popular, groovy neighborhoods...2 very neat places to live in town. Wide variety of condos and townhouses available. Very urban, densely populated neighborhoods close to restaurants, theater, and shopping. 

Click Play Below to Hear More Now!

00:0000:00
Share | Comments | Download(Loading)
June 19, 2012 @ 2:12 pm

Academy House Condominiums

The Academy House Condominiums are located in a very central residential location.



Rental parking in the lower levels, and 24 hour doorman. A fair number of units have outside balconies. A non-smoking building.

Click play below to learn more now! 
00:0000:00
Share | Comments | Download(Loading)
June 19, 2012 @ 2:10 pm

108 Arch St. Condos in Old City

Located in Old City, 108 Arch is a modern, newer construction building with some very strong urban styled finishes. All buyers are wowed by the decor, style and quality finishes. Units include parking (except one, and we just sold that unit), and building is pet-friendly. 

Part time doorman- Condo fees are not cheap, but the building is very well cared for and it shows. Most buyers sense the feeling of quality here. One bedroom units face north and have no balconies. All others have balconies...and not cramped little condo balconies either!
00:0000:00
Share | Comments | Download(Loading)
June 19, 2012 @ 1:38 pm

The Aria Condos at 1425 Locust St.

A beautiful, newly rehabbed high-rise at 15th and Locust. These residences include a 24-hour concierge, a pet spa, fitness center, and a business and media center. There is also a spectacular residents' lounge with a private dining room and an accommodating hotel suite for guests. This condominium possesses the true meaning of luxurious living. 

ariaexterior.jpg

The Aria was an office building when built and sits on the northeast corner of 15th and Spruce Streets. Some folks refer to the address at 225 S. 15th, but actually it is 1425 Locust- though the entrance sits on 15th street. The condominiums at the Aria have no parking- but there are no less than 4 large garages that can be rented within a block of 1425 Locust St. The Aria condos are actually divided into 3 "parts" (of the ONE building)...and all 3 parts offer various floor plans.

Click play below to hear more now! 

00:0000:00
Share | Comments | Download(Loading)
June 19, 2012 @ 1:22 pm

Let’s Go Condo Shopping

Mark loves shopping for Philly Condos!

00:0000:00
Share | Comments | Download(Loading)
June 12, 2012 @ 1:26 pm

Will my Philly Condo Fees go up?

Mark discusses some factors that may affect this answer.

00:0000:00
Share | Comments | Download(Loading)
June 12, 2012 @ 1:24 pm

Oh No You Didn’t…

Wise up goof balls! :)

00:0000:00
Share | Comments | Download(Loading)
June 12, 2012 @ 1:23 pm

Future Philly Auctions

Its sure enough to happen...

00:0000:00
Share | Comments | Download(Loading)
June 12, 2012 @ 1:15 pm

Queen Village and Bella Vista

Listen to Mark talk about 2 great Center City Philadelphia Neighborhoods: Queen Village and Bella Vista!

00:0000:00
Share | Comments | Download(Loading)
June 12, 2012 @ 1:14 pm

Queen Village Condos & Homes in Philadelphia

The Queen Village neighborhood in Philadelphia is a very desirable location for buyers. Queen Village is convenient to 1-95 and just a few blocks from Center City's dining and shopping. Spanning from Front to 6th, South to Washington, you can find everything from small homes, to huge townhouses, to a variety of condos in this area.

There has been real growth in Queen Village thanks in part to friendly, green, relaxed atmosphere. Lovely cobblestone streets and pocket parks are scattered throughout this neighborhood. 

Click play below to listen now! 
 
00:0000:00
Share | Comments | Download(Loading)
June 12, 2012 @ 1:12 pm

Bella Vista Neighborhood

Mark speaks with Zach from CenterCityHomes.com about the Bella Vista Neighborhood.

00:0000:00
Share | Comments | Download(Loading)
June 12, 2012 @ 1:11 pm

Bella Vista

Bella Vista is a well-populated and well-maintained neighborhood very close to Center City...A walk-able neighborhood with access to public transportation that has a very welcoming feeling with parks and tree-lined streets. 


You can get a lot for your money in Bella Vista.

Click Play Below to Learn More.
00:0000:00
Share | Comments | Download(Loading)
June 7, 2012 @ 11:48 am

High Rise vs. Low Rise Living

Mark talks about the differences between low rise and high rise condo living in Philadelphia!


Mark has lived in both high and low rise condominiums in Philly and in this podcast he shares what he loves most about each. Whether you are looking for low condo fees or the unique floorplans or location in a low rise, or amenities such as a pool, fitness center, and doorman in a high rise, Mark has the experience to show you the best of both worlds. 

Click Play Below to Listen Now! 
00:0000:00
Share | Comments | Download(Loading)
Loading Downloads
67Episodes

Following

Followers