Philadelphia Condos in Mark‘s Words | CenterCityCondos.com

Philadelphia Condos in Mark‘s Words | CenterCityCondos.com

By Mark Wade, Philadelphia Condo Market ExpertBusiness
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Philadelphia Condos in Mark‘s Words | CenterCityCondos.com episodes

  • REO’s Can be the Best Deals in Philadelphia Real Estate
    There is an interesting phenomenon in Philadelphia real estate called "REO's" aka Relo's" aka "corporate owned" properties. In the 1980's I specialized in Real Estate Owned Philadelphia condos. This is bank inventory that can be acquired in a number of ways. REO's are a close cousin to foreclosures. 
    An example of how a Philadelphia condo can become an REO is when "Suzie" works for a company such as IBM. IBM says, "Suzie, we want to promote you and move you to another state." So, IBM buys her condo and sells it through a third party intermediary . 
    IBM (or whatever company may be relocating their employee) is not in the business of owning condos so they hire a 3rd party to get rid of it. These Philadelphia condos are usually very competitively priced and generally sell for less than asking price. Now, of course, every sale is an anomaly, but generally, corporate owned properties are owned by people that have no emotional contact to the property and therefore, they just want to get rid of their inventory as quickly as possible.  
    If you come across one of these condos in Philadelphia, you can get a phenomenal deal! They are generally priced competitively. I've been selling these for 20 years. Buying an REO is a great way to snag a property that may have been out of your reach. I always push my buyers to look into these and they end up singing and dancing in the street! 
    8 min
  • The Beaumont Condos at 110-12 S. Front St. Philadelphia, Pa. 19106

    Located in the Old City/Society Hill section of Center City Philadelphia, these condos are new(er) construction condo that were built around 2005. One unit per floor with a huge two story luxury penthouse! 

     
     
    All condos have parking and most condos have 360 degree views! Learn more about this fabulous Philadelphia Condominium by checking out our Center City Condo's Beaumont Page. 
     
    Click play button below to listen now! 
    5 min
  • The Rittenhouse Plaza at 1901 Walnut Street in Philadelphia

    The Rittenhouse Plaza is The only real pre-war high-end co-op building in town. Sits on the north side of Rittenhouse Square and was built in the late 1920's and retains many nods to the Art-Deco style inside and out. Value per square foot is not negatively affected by the fact that it is a "co-op" instead of a condo and taxes are included in the monthly fee. 

     
     
    No parking at the building but tons of garages nearby...Such a wonderful variety of units in this building and phenomenal Penthouses! 
     
    Click Play Below to Listen Now! 
    5 min
  • Phoenix Condominium Auction
    Mark discusses the results of the auction of 40 units at The Phoenix Condominiums in 2010.

    UPDATE: The long-term results were nothing short of a huge win for the condominium association as a whole, and the Phoenix is now one of the hottest selling condo buildings in town. By reducing unsold inventories, the association has taken shape, and the building is not subject to future price reductions - there would be no need with demand strong.If we look at the resale market Phoenix in the past year, I think it indicates some stability- the units don't sit on the market for long, and have sold well. 
    Click PLAY below to Listen Now! 

    11 min
  • Lofts at Bella Vista at 1101 Washington Ave.

    Located on the corner of Washington Avenue and 11th Street in the Bella Vista section of Center City Philadelphia, The Lofts at Bella Vista are a wonderful addition to this thriving neighborhood! Just two blocks from the Italian Market, BV Lofts offer a wide range of condominium sizes, shapes, and designs. Impressive penthouse units, and MIND BLOWING Villa units, which sit atop this historic building, are a real Must-See for those entering the Philadelphia condo market!



    Indoor garage parking, high ceilings, and modern common areas make this building very attractive and desirable for all price ranges for many Philly condo buyers. High end modern and attractive finishes like polished concrete floors, along with a tax abatement, 24-hour door person, and wonderful city views all add up to a strong mix which should pique the interest of a wide variety of Center City condominium buyers! 

    Click play below to listen now! 

    3 min
  • Independence Place Condos at 233-241 S. 6th St. on Washington Square!
    Two buildings (233 S. 6th and 241 S. 6th)- Most buyers comment on the great light, generous balconies, and love the location on Washington Square. Rental parking in basement of condo isn't cheap, but is available. Common areas viewed as kinda' modern- not dated at all. Resales are good in terms of ability to sell- if priced right. Popular with med students (the one bedroom condos). Bi-level penthouses can be huge in size. potential buyers comment often on great views, ease of guest parking and willing front door staff. Pool adjacent is not a part of these apartments for sale- but proximity is great to that PSC gym. 
    Click Play Below to Listen Now! 
    4 min
  • Rittenhouse Square and Fitler Square

    Listen to Mark discuss what it's like to live in two desirable Center City neighborhoods: Rittenhouse Square and Fitler Square.




    Fitler Square is actually a pocket neighborhood situated in the Rittenhouse Square Area. Popular, groovy neighborhoods...2 very neat places to live in town. Wide variety of condos and townhouses available. Very urban, densely populated neighborhoods close to restaurants, theater, and shopping. 

    Click Play Below to Hear More Now!

    7 min
  • Academy House Condominiums
    The Academy House Condominiums are located in a very central residential location.




    Rental parking in the lower levels, and 24 hour doorman. A fair number of units have outside balconies. A non-smoking building.

    Click play below to learn more now! 
    4 min
  • 108 Arch St. Condos in Old City

    Located in Old City, 108 Arch is a modern, newer construction building with some very strong urban styled finishes. All buyers are wowed by the decor, style and quality finishes. Units include parking (except one, and we just sold that unit), and building is pet-friendly. 

    Part time doorman- Condo fees are not cheap, but the building is very well cared for and it shows. Most buyers sense the feeling of quality here. One bedroom units face north and have no balconies. All others have balconies...and not cramped little condo balconies either!
    3 min

About Philadelphia Condos in Mark‘s Words | CenterCityCondos.com

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Philadelphia Real Estate Rants and Raves! Here you can listen to exciting info about Philadelphia Condos, from high-rises to low-rises and everything in between, by Real Estate Professional Mark Wade.…