A blind man knows when the sun is shining, and even a casual observer can spot a poorly operated condominium association. A lax set of rules and regulations, perceptually poor upkeep, higher than usual percentage of rentals, restrictive pet policies, and an overall lack of cache all can negatively effect an association and may be [...]
Here in Center City Philadelphia, low rise condominiums (LRCs) are numerous and are often favored by many buyers. LRCs are generally characterized by buildings that are less than four stories tall and generally have less than twenty condominium units in that particular association. They can be found in converted brownstone buildings or possibly small warehouse [...]
How might the former affect the latter in a Philadelphia condominium? Pet policies throughout the Philadelphia condominium landscape are as varied as the associations who put forth their rules regarding pets. From exceedingly liberal, to exceedingly exclusionary, pet policies have a way of dividing many associations, and feelings towards pet policies run from hot to mild, as [...]
Every Philadelphia condo association has its own rule governing cats, dogs, giraffes, and other miscellaneous pets. Here in downtown Philadelphia, I find that almost all of these small associations allow dogs and cats. I dunno about giraffes. Rarely are size or breed restrictions in place. Low rise/loft styled condos that may lack an elevator and/or have limited [...]
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. I grew up in a [...]
Along (what I have dubbed) the Spruce/Pine corridor here in Center City Philadelphia, there are a variety of low rise/Brownstone styled condominiums that have seemed to perform reliably well over the past decade. From studios to three bedroom units, these condominiums resell fairly well, and have a tendency to NOT sit on the market for [...]
Condo Associations are becoming heavily scrutinized. We have all heard of the difficulties in procuring a residential mortgage - from the need for high credit scores to the down payment requirements. The new qualification paradigm for obtaining a mortgage can shine a bright spotlight on any buyer looking to make a purchase in today's real [...]
...and has dirty orange shag carpeting, and faded purple walls. I really do.Buying a cosmetically ugly home is the VERY best way to protect your investment. Our little group of REALTORS® (www.CenterCityCondos.com) have sold over 3,000 homes and one distinction we can brag about is our ability to pinpoint condos which are "diamonds in the rough" and finding condos that [...]
I get this question all the time. Why do condo fees vary from building to building? Generally speaking,the answer is simple, yet sometimes detailed. Let's start with what almost all condo fees (here in Center City Philadelphia) cover: master insurance policy, common building lighting, building maintenance, water & sewer, and a what I call a [...]
Having just lunched with an old college friend who lives in suburban Cincinnati, I am aware that suburban life and I are like oil and water. Though I covet her ownership of a three car garage, and unlimited access to parking at the local drugstore, I am aware that I would be "voted off the [...]
