Condominiums Archives - The Center City Condos Sales Team

Making YOUR Offer The Most Attractive It Can Be

by centercitycondosphillyOctober 2, 2025October 2, 2025Leave a comment

It is NOT always dollars and cents that prompt a seller to sign an agreement of sale…here are a few tips to sweeten your Philly Condo offer:

Shorten your settlement date-especially if the home is vacant.
Get a pre-approval from the mortgage company that the LISTING agent uses most. This will allow the listing agent, who will be presenting your offer to the seller, to be comfortable with your financing arrangements.
Shorten your home inspection period to 7 days instead of 15 days.
Put more money down (to be held in escrow) – a full 10%.
Add an “AS-IS” clause (which will still allow you to inspect and terminate the deal within the time frame permitted, if necessary).
Write a really nice note about how much you love the seller’s home and why you are buying their home. If it evokes a special emotion out of you, let the seller know. Every seller wants their home to be “loved”….let them know you love their home!
If a property is vacant, but still has unwanted clutter and dirt, tell the seller you will buy the home as it sits today.
If the seller is buying another home, and doing so locally, consider allowing his or her title company to do your title work. Most title rates are standard, and you (generally speaking) will not incur more costs by having your title work done by a company you or your realtor chooses.
If you are flexible in the dates you can settle, give the seller the option to pick the settlement date. You can write a contract that gives the seller the right to choose your settlement date within a specific period of time, like “ from 30 to 90 days from execution of the contract”..seller to decide.

Many things in a real estate transaction are emotional. Sweeten that emotional pot and you might find you’ll save a few dollars. It happens more often than you think! Shoot me an email at Mark@CenterCity.com or call 215.521.1523 when you are ready to start shopping for your next condo here in Philadelphia, and we’ll help you make a sweet offer.

Mark Wade
BHHS Fox & Roach Realtors®
530 Walnut St. #480 | Philadelphia, PA 19106
www.CenterCityCondos.com

Low Rise Condominium Living

by centercitycondosphillyNovember 20, 2023November 20, 2023Leave a comment

Living in a low rise or loft styled condominium can have its ups and downs. Here in Center City Philadelphia, we consider a low rise condominium to be an association that generally has anywhere from two to eight units, within a three to four story building. Defined as such due to the physical nature of how such properties simply exist in our area. Generally such structures are converted townhouses or small warehouse buildings, these low rise condominium associations have gained a lot of popularity since their inception in the mid 1980’s.

On the plus side, we find one of the attractions to be low condo fees. Since many of these buildings lack services that a high rise luxury condo building might hold, we can expect condo fees to reflect such a lack of service. No elevators, no door men, no concierge, no parking garage, etc. translates into a reduced common fee, which makes sense. Additionally, the small tight knit condo association, formed from anywhere (again) from two to eight member- each owner of course being a member. Less formal rules such as more liberal pet policies can be a major plus for those looking for condominium living. Also, the ability to play a central role in the budgetary process, and the management of the condominium building can be seen as a plus as well. Owners feel they have more say in to how their building is operated, how money is spent for improvements, and can informally change and add rules as they see fit.

On the possible down side, is a small association in and of itself. Some members may not want to be responsible for the operations of their buildings. They may want an outside management company to pay the bills and make decisions on capital improvements. These owners may not care for the fact that there are such few voting members, should they be “at war” with say another member of the association. A four unit condo association might have a tendency to be kind of an US verses THEM scenario. Additionally, the lack of services may be a drawback to some potential buyers. Possibly a buyer may want the intimacy of a small condo association, but would prefer a little higher condo fee to say, have exterior windows washed on a regular basis, and have trash removed by an outside company twice a week.

Buying a low rise condominium suits many tastes. But certainly such a scenario is not for everyone. An open mind, and good communication between all members of such an association is important for its well being. I live in a four unit low rise building on Front Street in Old City Philly, with limited services, and I think the situation is just perfect. We all get along well, with the general notion that our decisions are based upon what is best for the association, and the long term upkeep of the building.

Top 5 Pools in Center City Condos

by centercitycondosphillyMarch 22, 2023November 20, 2023Leave a comment

Yeah, I swim. A lot.

Here are my top five favorite pools in town.

1.) Waterfront Square

2.) One Riverside

3.) The Arthaus

4.) Symphony House

5.) The Murano

WTF is a Capitol Contribution & Why?

by centercitycondosphillyOctober 25, 2022October 25, 2022Leave a comment

Twenty years ago, a Capital Contribution was a very rare line item paid by a buyer to reimburse the seller. Today, a Capitol Contribution is standard for almost any purchase, and the payment now goes to the condo association and not the seller.

So WTF is a Capitol Contribution?Quite simply, it is a one-time fee collected from every buyer. Those funds are paid to the condo association and added to their bank account for long-term capital improvements. Most commonly, the fee is equivalent to two months of condo fees. Though often, the fee can be as high as six months (for associations looking to build their kitty).

Everyone buyer pays the fee, so don’t think you are being singled out. And the money is not going to line someone else’s pocket. You’re basically paying the condo association in which you are now a member. So cough it up…

Never Piss Off A Doorman…

by centercitycondosphillyDecember 4, 2021December 4, 2025Leave a comment

One way to ostracize yourself fairly quickly in your new condo building would be to get on the wrong side of the staff. If you want your packages and your guests to come and go without being tortured or put through a lengthy inquiry, then perhaps you should listen up.

Folks who live in doorman buildings quickly learn that the way to get anything done through the building is through the doorman. From allowing your guests access through the front door to helping you with your packages, a great relationship with staff can certainly make your living arrangements more enjoyable. And from fetching your car, to walking your dog, doormen (and women) can make your life easy, and they often will go the extra mile for Philly condo owners who are friendly. And being greeted with a smile each time you come home is a nice thing. Having a doorman who doesn’t like you is not a walk in the park.

Believe me, I learned the hard way back in the late 1980s by being rude and pushy. I no longer live in that building, and I now treat doormen with respect. You should, too.

Your life will be made much easier if you never piss off your doorman. They are great for learning about building gossip, too…they seem to know everything. Oh, and tipping is generally done at the holiday season, either via a pooled fund which is collected by the building, or done individually. I would suggest you get yourself a stack of $20 bills and pass them out like Halloween Candy. This is not the time or place to be stingy! 🙂

Philadelphia Loft Living for Empty Nesters

by centercitycondosphillyDecember 17, 2020March 3, 2021Leave a comment

Center City offers a buffet of living arrangements. Almost any Center City condominium with a smattering of exposed brick attempts to pass itself off as a loft. Often sought after as an expression of one’s own style, loft living has taken off in downtown Philadelphia. Lofts vary in look, layout, and location throughout downtown Philly. Some loft condos impress mightily, and others are cheap imitations of highly unique, urban treasures hidden in pockets of Old City, Bella Vista, and of course, The Loft District around 13th and Vine Streets. Still others hybrid versions of a loft are modern reincarnations of reused warehouse space replete with luxurious six piece marble bathrooms, and $16,000 refrigerators.

The best example of a hard loft in Philadelphia might be The Old Shoe Factory at 314 N. 12th St. From an unadorned cavernous lobby area, up to the eighth floor via a converted over-sized warehouse lift, the units are characterized by hugely over-sized windows, exposed brick, minimalist kitchens, and bedrooms that are open to the living area. Fantastic city views, high ceilings, and a few units with polished cement floors. Minimalistic at best, these condos truly tag at the definition of a live/work open space where room size is valued over room count.

A fair example of a soft loft might be BridgeView Place at 315 New St. in Old City. With the prerequisite high ceilings, and touches of exposed brick, these condos have been compartmentalized to include bedrooms, walled off kitchen areas, and walk-in closets. Some units at BridgeView do indeed have a loft bed perched above the living space, but those units are few and far between. The conversion to condominiums in the mid 1980’s at 315 New St. is a good example of a reasonable living space, with a bit of “lofty” flair.

The recent hybrid loft, with its three bedrooms and den, Joanne Hudson kitchen, and a veranda off the master suite has become popular in Center City. More and more empty nester couples are discovering the joys of living in an unconventional space- many that may look like a magazine cover, throughout Center City. The bells and whistles attached to many recent Center City loft styled condominiums can make any a buyer take a second look at the possibilities of urban living.

A Center City loft can come in a variety of sizes, styles, and locations throughout downtown Philadelphia. Some more true to their “lofty roots” than others, loft living of all proportions is gaining popularity amongst the empty nester set moving into town from the suburbs and elsewhere. Many of the available loft condos today didn’t exist in the early 1990’s when the very first empty nester/baby boomer began trickling into Center City. And judging from the success of many loft and loft-like sales throughout the area, buyers are finding individuality can be expressed through the (loft) style in which they choose to live.

Condos near Jefferson Medical School in Philadelphia

by centercitycondosphillyDecember 17, 2020February 23, 2021Leave a comment

Every spring, my phone starts ringing off the hook with students and or parents of students who will be attending Jefferson Medical School. My name is Mark Wade, and I am a realtor in Center City Philadelphia. Many of these folks have figured out that buying a condo in the area is a wise investment, as opposed to a long term rental.

Specializing in the sale of downtown Philadelphia condos over the past twenty years has enabled me to have a fair amount of insight into what these buyers are looking for in terms of location, amenities, and value they seek in a potential area condominium. Many of these buyers have become my favorite type of buyers, as parents are heavily involved in the search process- and I love parental involvement! Many incoming “Jeff” students are aided, financially, by their parents, and therefore have a fair degree of parental input. No problem!

I think the main ingredient that parents deem essential to any Philadelphia condo purchase is safety. Coming from (perhaps) an area outside the city, they are often unfamiliar with the neighborhoods, and emphasize the safety of their sons and/or daughters as paramount in their condo search. As many Jefferson Medical Students work odd hours, any may have to go to or from work at all hours of the day and night, this concern is universal for many parents.

High rise condos with doormen are generally high on the list of priorities if you ask a parental figure. Groovy hip, kinda’ loft space would probably be the first choice of many of these buyers, if the parental equation were to be removed. I find myself often walking a fine line between meeting the needs of the parents, and the desires of their offspring. Parents are less concerned with interior emotional content- the color of the wall or carpeting, the age of the appliances, etc. I often hear the “back and forth” between the dueling desires of the parents and the offspring who will actually be occupying the premises. The “showing ability” has little power over parents, where such a concern ranks very high for the offspring. Parents are less emotional and key in on what they perceive as the future value, or resale of a given Philadelphia condo. The offspring are less concerned about such qualities. They want the stainless steel kitchens with the granite countertops, and the cool bathroom and kitchen fixtures. Their parents are less likely to spring for such visuals.

Finding the right mix of emotional “wow” and “value/security” is a challenge I relish. And more times than not, a compromise between the parental purse strings and the occupying offspring is in order to make a deal. And if that compromise happens to include stainless steel appliances, a groovy color scheme, and perhaps a large walk-in shower stall, then touch’! Homerun!

Is AirBnB allowed in this Philly Condo?

by centercitycondosphillyDecember 12, 2020December 12, 2025Leave a comment

The one condo question that always gets a negative answer? I get this ALL the time…

Is Airbnb allowed in this building? No. Never. Ever. Sorry…

Almost every Philly condo has a clause embedded into its declaration/rules and regulations that the minimum lease period is either SIX or TWELVE months. Period.

Mark Wade
BHHS Fox & Roach Realtors®
530 Walnut St. #480 | Philadelphia, PA 19106
www.CenterCityCondos.com

Preparing Your Home For The Buyer’s Home Inspection

by centercitycondosphillyJune 18, 2020May 6, 2021Leave a comment

We have all heard of the things we need to do to sell our home. Get rid of the clutter, clean it up, blah blah blah… But what are some of the more practical approaches one can take to buffer the effects of the buyer’s home inspection report?

1) Have your HVAC system serviced. Have the documentation ready for the buyers to see when they come to do the home inspection. Let your buyer know that you are aware of the potential age/weakness of the system (should that be the case) in advance. Change the filter! Let your buyers know that the system may be aged, but it is in good repair. This can save you from having to purchase a new HVAC system.

2) Think about having a home inspection done in advance. Consider using a popular local company – one that your local realtors use often. Don’t use Uncle Phil, the fix-it man. Ask your realtor who most realtors use for home inspections. That will lend credibility to your report. Then attack some of the issues that the inspector brings up. If repairs on an inspection report total $2,000, your new buyers might ask for more than that to compensate for such shortcomings.

3) Have your roof checked out by a local roofer. Consider doing repairs prior to a home inspection. Or point out shortcomings to the buyer, and make it a part of the negotiation process.

4) If your state mandates a “Sellers Disclosure” – disclose away. Load it up! Buyers are generally more inclined to accept shortcomings when they are making an offer on your home, than when they are discovering shortcomings during a home inspection (which occurs about the same time as buyer’s remorse sets in!)

5) Get rid of the old paint cans NOW. Your new buyer is not going to want them. Write down the brand name and specific paint colors and hand it over to the buyers. Most paint needs to be disposed of properly. You may not just throw them in the trash. And your buyer is not going to want to clean up your old mess.

6) Prepare a nice info list about your home. Detail when work was done, when trash day is, where the local recycling center is, etc. Make your home “user-friendly” via documentation. Also, providing numbers of local contractors you have used is a good idea. Buyers want to be comfortable with the operation and “nuts and bolts” of the home. Good preparation on the part of a home seller can put a buyers mind at ease, making for a smoother transaction, and a more comfortable buyer. Any experienced seller knows that a comfortable, at ease, relaxed buyer is money in the bank!

Mark Wade
www.CenterCityCondos.com
BHHS Fox and Roach REALTORS®
530 Walnut St. #480, Philadelphia, PAÂ 19106

Center City One Condos at 1326 Spruce St.

by centercitycondosphillyDecember 17, 2019February 5, 2021Leave a comment

A Great Value! With 182 individual condominium units, and 86 deeded parking spots, Center City One Condominiums have a great reputation for being a solid Philadelphia real estate buy. A mix of studio, one, and two bedroom units, Center City One condos near the center of Philadelphia, at Broad and Spruce Streets, have great views – either offering wonderful city views, or wonderfully bright, sun-drenched southern views. These Washington Square West condos are located in the 19107 zip code, and all units at Center City One are flats- no loft condo units at 1326 Spruce exist. We find many Philly real estate buyers delighted with what they can buy for their money at Center City One.

As a veteran Philly real estate agent who specializes in condo sales, I hear a lot of feedback that the building has a strong on-site management team, an active condo association, and of course liberal pet policies. Parking, and the building’s close proximity to Avenue of the Arts really allow this building to “fire on all cylinders”. All condos at 1326 Spruce have their own HVAC systems.

Center City One condos hold some of the best values in town, and the two bed/two bath 1209 sq ft units have the BEST floor plan in town for city living. The owners association updated all hallways, lobby and elevators in 2013…and did a great job. In 2016, the exterior of the building was pointed and power washed. The balconies were painted and the wood rails were stained. Also, many of the owners have purchased upgraded windows and balcony doors. Exterior lighting in the garage and under the portico was replaced with LED fixtures, making the building more energy efficient.

When units become available for sale, prices can fluctuate and are generally contingent upon views and interior condition. You may find some original condition condos at great prices, but expect to pay for some of the stunningly upgraded condos in the building- though I think either are a strong value. If I had millions of dollars, I would probably spend most of them inside this building if I wanted to make money. The location and floor plans are tough to beat.

Click Here for more info on the building with photos, video, floor plans, etc.