Emerging Demand - Jumbo & Deluxe 1 Bed Units / Update Sale Comps By Zip Code / Crazy Stuff Your Insurance DOES Cover /

 

Your Center City Condo Newsletter 
 December 2017

Examining The Deluxe 1 Bed Condo Market Here in Center City


 

* Deluxe one bedroom?

* Jumbo one bedroom?

* One bedroom plus den?

* One bedroom plus niche?

* Extra large one bedroom?


 

Call it anything you want, but many buildings, especially newer buildings, offer the super sized one bedroom condo which is growing in popularity as well as demand.


 

I think back to the "01" units at the Murano. Over 1000 sq ft with a very large living room, these units sell almost as quickly as they come on the market.


 

One Riverside at 25th and Locust has a one bedroom with den unit that I think is fantastic. The "den" is really a bedroom but the design is an open floor plan that offers a buyer options on how they want to lay out their space.


 

Waterfront Square offers two varieties. In one style, the living room is HUGE...the other has a separate den.


 

Independence Place has what they call a one bedroom and niche which plays out as a large living room that can easily be cordoned off if the owner desires.


 

I find many buyers will change their minds and opt for a large one bedroom plus den instead of a traditional two bedroom. Often the square footage is the same but the pricing is usually better. They realize the need to host overnight guests is really NOT a practical decision.


 

The waters can get muddied when buyers ask what does or does NOT constitute a bedroom.


 

Does it need to have an operable window to be called a bedroom? If so, then NO units at Two Liberty have any bedrooms because none of the windows open.


 

Direct sunlight? Then very few units at the National are true two bedrooms as the 2nd bedroom gets no natural light.


 

Does a bedroom need a closet to be a bedroom? I doubt it.


 

With so many options here in Center City, you might find your best option is a jumbo one bedroom/one bedroom plus den.


 

Worthy of consideration? I think so....

 


Does Your Homeowner Policy Cover That??

Homeowners Insurance is necessary if you want to protect your home and your assets. The standard homeowners insurance policy, an HO-3, protects you from a wide range of misfortunes from fires to vandalism to lightning strikes or explosions. 
Here are some items that you may be surprised to find covered by a homeowners insurance policy:

1. Tombstones
  Yes! Grave markers at a cemetery are considered "personal property" and are covered under most homeowners insurance policies. There is probably a special coverage limit on tombstones.

2. Volcanoes (Not Earthquake)
Most of us in the U.S., outside of Hawaii, don't have to worry about this but if your home is in the path of an erupting volcano, then you'll be covered! Earthquake damage or ground movement is not covered under most standard policies.

3. Your Child's Belongings at College
  If you send your child to college and she is living in a dorm, her items are usually covered under your homeowners policy. That's because most policies cover anyone in your household as well as students under the age of 24. However, not all policies cover students living in off-campus housing, however. Those students may require a tenants policy. 

4. Your "Stuff" that you travel with 
Most homeowners policies cover your belongings wherever they go under the "off-premises" provision. This means that if your luggage is stolen while you're on vacation in China or Turkey or even North Dakota you're usually covered. For pricey items like your jewelry you should make sure you discuss purchasing additional coverage with your insurance agent, anyway. 

5. Dog Bites  
If your dog or cat or even your guinea pig bites someone, your homeowners policy may cover the cost of medical care, up to your Personal Liability Limit. We recommend AT LEAST $500,000. Just be aware that some animals can do serious damage when they bite and may cause you to be ineligible for coverage with some insurance companies.

Review your policy. You'll find more surprising things that may be insured by your policy!
Be sure to ask questions!!!!!!!!

For more info, check out my fav insurance gal, Jessica-

Jessica Nydick at Trident Insurance Agency
jessica.nydick@foxroach.com





Visit My Website:
 

Considering Buying A Condo Here In 
Center City?



Consider this process....

Take your time.
Look around and learn about our condo market. 
See the lack of inventory.
Get pre-qualified.
When you find your dream condo...
POUNCE.

I have a dozen buyers waiting for the right condo to come on the market. Not uncommon.

So take your time getting ready, but when the right condo comes on the market, you'll need to strike like lightning if you want a chance to compete.



                                                                                                                                                    MarkNew  

Mark Wade 
Saturday AM is my favorite time of the entire work week.

All buyers, no office work and a full day of looking at some
really cool condos around town.
It just never gets tiring....Even after 29 years.






BHHS Fox & Roach Realtors
Society Hill Office
215.627.6005

215.521.1523 direct
Mark@CenterCity.com

CenterCityCondos.com

The best time to get me is in the AM 
when I'm hopped up on four
cups of Maxwell House.