Philadelphia Condos in Mark‘s Words | CenterCityCondos.com

Mark talks about the ups and downs of purchasing a foreclosed condo in Center City Philly!

In certain segments and/or neighborhoods in Center City Philadelphia, the available condominium supply currently on the market is limited...

Mark discusses why Philly Real Estate 2011 is much improved!

There are some really great opportunities out there if you are interested in purchasing a foreclosure in Center City Philly!

Listen to Mark discuss different types of condos available throughout Center City Philadelphia from High Rise to Low Rise condominiums.

Listen to Mark explain why condition beats location in the center city Philadelphia Real Estate Market.

In many urban condominium markets like Philadelphia, the adage of "Location, Location, Location" may not be as important as "Condition, Condition, Condition". And many segments of any Philadelphia condo market will often attract buyers that have no special home renovation skills, no tools, and no time to perform routine upgrades. 

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There are many different loft styles throughout the Center City Philadelphia Condominium market! Styles may vary depending on price, neighborhood, floor height, etc.

 

You can find lofts throughout Old City and Bella Vista, and most true lofts are located in the Loft District around the area of 12th and Callowhill Streets. Not many lofts are available in Rittenhouse Square as the area has never housed many warehouses. There are different styles ranging from soft to hard lofts. The biggest characteristics of a loft are the exposed brick, exposed duct work, large windows, open floor plans and warehouse style.  

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Center City Philadelphia gated communities are worth a look!

There are really only two Philadelphia condominium buildings that I believe qualify as being gated:

WaterFront Square at 901 N. Penn St: I live here and I love it. I have lived in town for 24 years, and I know every condo building like the back of my hand. I choose the building because it sits on 13 manicured acres with tons of parking, pool, deck onto the river, etc. And being gated (and a doorman building), it takes the security equation right out of the picture- in my mind. If I forget to lock my condo door- WHO GIVES A CRAP?!  I live in a gated community with a doorman to boot.

Naval Square: Gated and sits on something like 20+ acres…gorgeous setting. And again, takes the security equation right out of the picture. Ample parking, pool, and lots of space for the dog, the kids, even bike riding. These are qualities that are generally lacking in a non-gated urban community. I love Naval Square, and think that the HUGE variety of styles and sizes are fantastic. And the tax abatement doesn't hurt either. Many units are single level/one story styled condos.

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The 2011 Philadelphia Real Estate Market is moving right along...listen to Mark discuss!

When buying a condo in Philadelphia, you get a 5 day review period to read your condo documents...read them!!

Here are a few things that you may not have known are pretty standard in condo docs in Center City:

1) Almost all associations charge 2 months capital contribution- means you pay 2 months condo fees to the association- not the owner, but the association- Helps build the kitty.

2) You better check the pet policy- A few years back a young woman bought a Philadelphia condo at Locust Point, then had to sell because she ignored the pet policy- her dog was too big. And she of course wasn't parting with the dog, so she parted with the condo.

3) Rental Restrictions- Becoming more and more common in condo docs and their rules and regs- which can be a huge value-preserving tool for the association.

4) Future Assessments- Will tell you if any assessments have been approved for the future. Not “discussing assessments” but real approved assessments. There is a difference.

5) The Budget- This is a biggie. You may want to see how much $$ is on hand for future improvements- should correspond to building size and age. New buildings have little reserve- and often, they don’t need them- there is no differed maintenance beyond cosmetic often.

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Listen to Mark talk about marketing points for getting maximum exposure and maximum sale price for your Center City condo.

Whether you plan on selling your Old City condo, your Rittenhouse Square condo- or anywhere in between, we can help you sell today or whenever you are ready!

 

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