Popular Real Estate Misconceptions / Hopkinson House Drone Footage / Comps by Zip  
Your Center City Condo Newsletter ~   June 2018

Top Real Estate Misconceptions
Often heard...rarely realized

1) Once I move out, I'm going to rent the condo
Half my buyers tell me this and about 10% of those buyers actually do retain the condo as a rental.

2) I can see past dirt & crap piled in the corners
112% of my buyers tell me they can see past the clutter. About 2%    actually can. And they're usually architects. Even after 29 years I find myself adding (sometimes significant) value to condos that evoke a strong emotional response. 

3)   It's a good idea to only work with listing agents 
Sure...limit yourself. Go ahead.  Maybe best to go with the person who has the most experience within any given building.

4) I can Air BnB my condo
Rub a lamp... then read your condo docs.

5) The condo fees are too high for that condo
Probably a good idea to consider what those fees cover. Parking, gym, electric, pool etc etc.  All things considered-the fees are likely not too high if you're getting use out of the amenities.

6) I'm going to bid based upon what the seller paid
Since we don't know the terms and conditions of that sale, I find this number is often irrelevant. Better to turn your eyes towards interior condition to gauge value.

7) I need a "true" second bedroom for my guest
It is quite possible that a one bedroom plus den would better suit your needs. In any given price range, a full 2nd bedroom will cost more than a comparably equipped one bedroom plus den. However, the latter usually affords a larger living room.

Neighborhood Market Watch Videos For 
The Real Estate Junkies
...You Know Who You Are

 Drone Footage: Hopkinson House Condos
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If you need to act like you know something 
about the Center City real estate market,
then drop these little nuggets at any gathering

"Unless U of Penn moves to Oklahoma, 
there will always be demand for one bedroom condos west of Broad Street." 

"Most loft-styled condos in Old City are  One Of  A Kind."

"My condo guy says he's never seen condo inventory this low is in 29 years."

"New construction condos around town can easily pull over $1000 per sq. foot."

"The bigger the building, the higher the condo fees." (think gym, pool, doormen, parking, etc.)

"The Center City condo market revolves around spring- always has and always will."


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

215.521.1523 direct

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