Tag: Center City Philadelphia

I Hope the Philadelphia Condominium I Sell You Smells Like Dog Pee

And has dirty orange shag carpeting from 1972. And has high gloss purple paint on the walls. I really do.

I have been preaching this mantra for some eighteen years now here in Center City Philadelphia. And it has worked! Our little group of seven REALTORS at Prudential Fox and Roach REALTORS sells over 160 Center City condos and townhouses a year.

I would have to say that one distinction we can brag about is the fairly sizeable profits a lot of our buyers make when they call us a number of years later to resell their Center City condominiums. Now granted, a lot of that has to do with the Philadelphia real estate market conditions, and the fact that Philadelphia has been on an upswing for the past dozen or so years. I would like to say that -It is all me,- but that wouldn’t really tell the whole story.

Buyers are probably going to find that smelly, ugly Philadelphia condominiums are severely discounted (disproportionately) lower than one might expect. Few other buyers are emotionally attracted to these -dogs.- I believe that very few people grow up hoping and dreaming that the first townhouse or condominium they buy is going to be dirty, smelly, and have an avocado colored stove.

One of my goals when selling a Center City condo is to get buyers to see past the simple outdated or unattractive cosmetics that are inherent in a number of Philadelphia condominiums, lofts, and townhouses. I feign deafness when I hear a buyer tell me that the -place is perfect, except I don’t like the tile in the bathroom.” Or that the appliances are old and the inside of the dated -side by side- smells like the inside of their gym bag.

Those issues are what I term -PHONE CALL UPGRADES.” You pick up the telephone, you dial the local Home depot or Lowe’s and you set an appointment for them to come out and replace the appliances and carpet. You place one call to a painter, and you have him repaint all the high gloss purple colored walls. These are one-step, one-call upgrades. This isn’t brain surgery.

We are not moving the kitchen which would involve moving gas lines, water lines, replacing flooring, redoing baseboard moldings and on and on and on. Easy stuff – I am simply referring to the cosmetic upgrades that can be made via an effortless phone call. The easiest of these upgrades are the least expensive and have the most impact on the emotional attractiveness of your home.

And that is where many buyers can see a huge increase in their resale price. Simple, light cosmetic work. The kind of work that takes a pee smelling, dirty orange shag carpeted, piece of ick, and adds significant emotional value through the use of good decorating skills, cleanliness, and minor cosmetic upgrades that are readily visible to the eye.

Buy ugly. Buy smelly. And sell oohs and aahs-Then sing and dance all the way to the bank. In my opinion, this is the easiest and most proficient way to make some quick instant equity in your home.

Mark Wade is a Philadelphia REALTOR who is the Center City condominium specialist. Mark’s vast knowledge of what’s trendy and which finishes buyers look for when selecting a home help both buyers and sellers of Philadelphia real estate make the most of their investments…. so much so that he’s been seen on HGTV’s What You Get For The Money, CN-8’s Money Matters and was the 2005 winner of Philadelphia Magazine’s Kitchen of the Year contest. Call Mark at 215-521-1523 or email him at today if you’re ready to buy or sell a Philadelphia condo. View Center City condos for sale at CENTERCITYCONDOS.COM

Defining High Rise Condominiums in Center City Philadelphia

High Rise Condominiums (HRCs) can be defined here in Center City Philadelphia as buildings between ten and thirty stories tall. There are a number of options for that buyer here in town- from the existing buildings, to a slew of new construction projects already under way. The primary benefit of an HRC that most buyers will hone in on is security. Generally speaking, a twenty-four hour front door man is on premises to insure some type of buffer between residents and the street. A doorman also helps to take delivery of packages, and someone to make sure that guests are announced prior to arriving at your doorstep. So HRCs with their sense of security are certainly a selling point for many buyers in town. Also, many buyers choose high rises because on the higher floors views can be very nice. For those who travel a great deal, HRC living can be just the ticket as the building does maintain itself regardless of one’s presence. In addition, many HRC buyers see their living situation as being one that is fully managed: from hallway cleaning, to building maintenance, these buyers prefer to have it all done for them. For a price higher condo fee, they see this trade off as a positive benefit.

HRCs tend to have higher condo fees because they have more services. They tend to have the doorman, the elevator, the elevator man, the parking garage, the parking garage attendant, and some even return your videos and walk your dogs. Most of the time, HRCs are -full amenity buildings,- meaning parking, swimming pools, community rooms, ATMs, restaurants, barbershops, drugstores, etc. So the convenience of a high rise certainly makes it attractive for a lot of buyers. A lot of buyers aren’t interested in paying these high condo fees however warranted or justified they may be for the services that the building provides. A number of other buyers may not like the individuality, or the architectural elements or details, in some of the newer high rise buildings. Additionally, sometimes pet policies can keep people out of HRCs, as in most of the big high rises do not allow dogs. High condo fees, lack of individuality, and pet restrictions could be considered drawbacks to HRCs.

Examples of high rises in Center City can be found in two popular squares – Rittenhouse Square and Washington Square – and lately we’ve seen a lot pop up in Old City and the Art Museum area as well. The -newness- is another appeal for buyers in Philadelphia for two reasons: the newness itself, and also because the newer buildings benefit from the ten-year tax abatement. And the newer buildings all seem to be offering available parking with the units (usually at an extra cost). Some high rise buildings are exclusive in nature. Marked by a majority of larger sized units, some of the HRC’s have no studio units and a severely numbered amount of one bedroom units. These buildings have a tendency to be higher priced in nature, and generally in very strong perceived locations. Other HRC’s have a general mix of studio, one and two bedroom units. It should be no surprise that these buildings are generally lower in dollar per square foot prices, and cater to the -masses- as far as unit availability is concerned.

High rise living is very popular with a fair number of condo buyers. And will continue to be attractive as some of our lives become more complicated, mobile, are shared between (for some of us) more than one place where we call -home-.