As a veteran Philadelphia realtor, I hear a lot of interesting things come out of the mouths of many sellers here in our marketplace. In a softening real estate market, seller sometimes have high hopes for their often overlooked condominiums. Some attempts to sell are more creative than others, and some are just downright silly.
Considering doing a condominium conversion here in Center City?Let the experts at CenterCityCondos.com help you maximize your resale potential!Listen to Mark speak with Marie Scarpulla, from Fox Roach Land Development division. This podcast is geared towards those looking to buy or sell large land, or development projects.CLICK HERE to view the instructions for applying for a Tax [...]
Buying a new construction condo in Philadelphia can really try one's patience. From delays in proposed settlement dates, to varying opinions of what constitutes a finished product, many issues can really become a pain in the butt. Be forewarned- if you are buying new construction- there is a ONE MILLION percent correlation between the amount of interference [...]
As Heidi Klum would say, "One Day You Are In, and The Next Day, You Are Out". That notion, if stretched and reworked a bit, could be somewhat applicable to condos in Center City Philadelphia. Since not all fluctuations in value have a direct correlation to one event, or one particular quality to a particular [...]
Many of my Philly Condo buyers ask me which buildings they should view based on specific amenities. Here’s how I generally respond.
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 high rise options for buyers here in town- from the existing buildings, to a slew of new construction projects already under way. The primary benefit of a high rise condominium [...]
And I'm not talking glamour or location... In no particular order, these Center City condos were chosen based upon accumulative buyer feedback, sales pace, days-on-market, perceived value, interior characteristics of units, and amenities offered. And I tend to give lots of extra credit points for value and value retention over the long haul. It would [...]
This scenario and resulting depreciation is usually wiped off the books after year one. It is the initial depreciation of a new condo that is loaded towards the front of ownership- like in the first year. Once that hurdle is cleared- the possibility of depreciation lifts as well.
In terms of value retention, resale ability and livability...Here are my top ten picks for 2015: 1) 1706 Rittenhouse at 1706 Rittenhouse St. - - There can be little doubt that the building shines in terms of value growth and demand. The highest of high end here in Center City. Buyers line up for these [...]
Like Hair-Do's and Trendy hot spots around town, the popularity and demand for specific Philadelphia condominiums can fall in and out of style. The following ten Center City condo buildings have withstood the test of time, and generally garner more interest from buyers than sellers. Usually noted with low inventory levels, a good track record [...]
