Center City Homes Blog

Parking in Philadelphia is similar to visiting the Dentist, most of us don’t enjoy  it but we have to do it anyway.  As many city dwellers know, parking can be a  hassle but it’s still a commodity and something to be heavily valued.   As a real estate agent here in the city I come face to face with the PPA more  than most people want to, so I truly understand the value of a guaranteed parking  space.

Buying a house or condo in Philadelphia that has a deeded parking spot is  great even if you don’t own a car.  There are  too many perks to list but the most important being resale value of your  property.  It’s fair to assume that you can automatically add $20,000-$40,000  to the value of your property if you have a deeded parking spot on the  premises.  Not only is the parking spot huge for the resale of your Philadelphia Home, but if you  are not using it, you can easily rent the spot out to one of us who aren’t as  privileged as you.   Monthly parking rates in Philly tend to run anywhere from  $175-$375 depending on where the parking spot.  Think if you rented your spot out  for only $200 a month, you could put that towards your mortgage or anything else, PLUS you have a major selling point to add to your  home!  Any who, if you can pick a property up here in Philly that has parking and  you don’t necessarily need it, don’t cross it off your list.  If you  need any help finding a place here in Philadelphia, with or without parking,  feel free to drop me an email!

If you have any questions or are looking for real estate in the downtown  Philadelphia area, email me at Zach@CenterCity.com!  I look forward to  hearing from you.

Zach Skidmore
www.CenterCityHomes.com / 215.901.7844
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

Are you considering selling your Center City Philadelphia Home?

As a buyer’s agent specialist I know what buyers are looking for in today’s market and every buyer is different.  That being said, there is one equality that every buyer shares…..almost every buyer will know within 30 seconds of walking through the front door if that specific house is a possibility and could make their “short list.”  Most buyers are aesthetic buyers and if the walk in and the layout is nice, there’s no clutter and it’s clean, then consider it on the short list.   Center City buyer’s are smart and usually have already done their homework and if they haven’t hopefully their agent has done it for them. They usually already know bed and bath count and square footage, what they don’t know is interior condition, layout and “feel.”  It’s very important that sellers make that first 30 seconds count.  The best thing a seller can do is go to open houses in the area and pretend they are buying.  Walk through the door and instinct will take over, something that disappears when walking into your own home.  This will also help you to know your competition and how you stack up.  Be realistic too because everybody thinks their house is the best. (I’m guilty) Then try walking into your own home and seeing it from and outsiders point of view, although hard to do, very helpful.  Maybe you enjoy having a hot pink-bedazzled-popcorn ceiling and it makes you feel all warm and fuzzy, but step out of your shoes and look at it as a prospective buyer….and I’m just kidding, if you have a ceiling like that please don’t bother putting it up for sale.

Seller’s, use this 30 seconds to your advantage.  Stand in your doorway and take it all in.  Little things like a nice smell, layout and cleanliness make a buyer feel comfortable and at ease.  Try it!

Zach Skidmore
www.CenterCityHomes.com / 215.901.7844
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

6 Fix-ups that are worth the price…….

 According to Realtor Magazine, these 6 quick fix-ups can be quite worth it.

1.        Cleaning and De-cluttering – remove personal items, clean and organize closets, shelves, and make the home as clean as possible.   Average cost = $290 / Average return = $1,990

2.       Brightening – Clean all windows inside and out, replace old and worn out curtains, update lighting fixtures, and remove anything that blocks light from the windows. Average cost = $375 / Average return = $1,550

3.       Smart Staging- Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork and play soft music in the background of showings or open houses.  Average cost = $550 / Average return = $2,194

4.       Visual enhancements – Spruce up the homes curb appeal in the front and back if you have outdoor space.  Make sure your façade is well pointed and the paint is not chipping.   Average cost = $540 / Average Return = $1,932

5.       Repair electrical or plumbing –Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition.  Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.  Average cost = $535 / Average return = $1,505

6.       Replace or shampooing dirty carpets -  Steam clean carpets, replace any worn carpets and repair any floor creaks.  Also, upgrading to hardwood floors would be an added expense but could be worth it for the right buyer!  Average cost = $647 / Average return = $1,739

All amounts above are estimated and depending on location and market conditions, values will differ.  If you have any questions about how to increase the value of your Philadelphia home, please give me a call! 

Zach Skidmore
www.CenterCityHomes.com / 215.901.7844
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

      
The answer to this question is simple: It is always a good time to buy and investment property.  It is never really a question of timing but more a question of LOCATION, affordability and upkeep.  If the price is right, location is golden and the money is there for the purchase, this is one of the best ways to ensure an income.  Obviously there is more to the puzzle than this such as; finding a good tenant and maintenance on the property. 

With the low interest rates and the Center City Real Estate market slowing for the winter, now is the perfect time to find the right investment property for you.  For information on some hidden gems in all different price ranges give me a call or drop me an email at Zach@CenterCity.com!

Zach Skidmore
www.CenterCityHomes.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

AUCTION! Great upcoming opportunity at the Waterfront Square Condominiums!!!  They have up to 60% off original list prices…all include parking and Tax Abatement’s! New Units- Never Lived In!  This event is coming up in late November. Thirty-five condos will be auctioned, including four one-bedroom/1.5 bath units; 16 one-bedroom-plus-den, two-bath units; five “junior” two-bedroom, two-bath units; and 10 two-bedroom-plus-den, two-bath units with minimum bid pricing ranging from $195,000 to $415,000.

Waterfront Square is a gated community on 10 acres. It boasts the largest green roof in Philadelphia – grass covering the parking garage – and has round the clock security, a clubhouse, fitness center and spa, 24-hour concierge in each tower building and by far one of the nicest swimming pools in Philadelphia.   Tax abatement is in place for all units, and ALL units include One Parking Spot!  This minimum bid auction has prices starting at 60% off previous List Prices!  The auction will take place at 4 p.m. Sunday, Nov. 21, at the Hyatt Regency Philadelphia at Penn’s Landing, 201 S. Columbus Blvd.  This is a great chance to own a beautiful condo in Philadelphia at a great price.  DO NOT miss it.  Make sure you have your Realtor with you to explain how the process works and to educate you on this great opportunity!  If you do not have a Realtor to accompany you, feel free to drop me an email or give me a call!  I look forward to the possibility of working with you!

Zach Skidmore
www.CenterCityHomes.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

        Usually I spend my time explaining/educating my clients or future clients on the best way to sell their home; in this blog I will be doing exactly the opposite.  Here is the easiest way to NOT sell your condo.   First, if you don’t care about selling your house or condo please don’t call or email me.  Second, once it is listed, put a very uncooperative tenant that is horribly filthy, unpleasant, and sickening into your home.  Not only will this help ensure that you will never sell your property, but it will most likely piss off 99% of the buyers agents and their clients.   If you are thinking about selling your house or condo sometime this millennium, please feel free to drop me an email or give me a call.  I would love to talk Center City Real Estate with you!  Zach@CenterCity.com

         In the home buying process there are many obstacles to overcome before settlement.  One way to help ensure settlement is using a reputable mortgage company.  There are many circumstances that we all encounter during the buying process.  Some reasons for deals falling through are; home inspections, mortgage reasons, short sales, appraisals, and home sale contingencies.  Some of these reasons can’t be helped but using a good mortgage company, although will not guarantee settlement, it will improve your chances of getting the keys to your new house the day of settlement.

The 2 quickest ways to improve and increase the resale value of your home or condo are………anyone, anyone???

Bathrooms and Kitchens!  If you are considering selling your home and you’re on a tight budget, go to home depot and for a few hundred bucks (give or take) and get the necessary items to give your bathroom and/or kitchen the “face lift” that it needs in this market.   Update them according to your budget, there is no need to go out and buy a Wolf stove and a Viking refrigerator. 

Also, I get asked all the time; “Will finishing my basement increase the value of my home and make it easier to sell?”  I think the answer to this question is, “Depends.” It depends on many different aspects such as size and location of the home. (Just to mention two).  Obviously it will increase the value at least a little bit, but is it worth it?  I am leaving this question up to debate and would really appreciate your input and feedback! 

If you have any questions or are searching the Center City Real Estate market, please send me an email at Zach@CenterCity.com  and let’s find something that fits you!

       In every real estate transaction, both the buyer and seller are out to get the best possible deal for themselves.  This is how all negotiating works, although both sides should know that if you push too hard or ask for too much, the deal could very easily fall through.  If a buyer or seller is content with losing the whole deal due to asking for this, that and the other thing, then so be it.  At the same time as a real estate agent it is our job to educate our clients and give them professional advice.  It is not our job to tell you what to do, but at the same time we hope that we have a good enough relationship with our clients to speak freely.  If you have this kind of trust and relationship with your agent, it really helps to smooth over situations like this. 
        We never want to tell our client that they are being greedy and asking for too much but at the same time, nobody wants a deal to fall through over a set of curtains.  If I encounter this situation, I first ask my client if they are willing to lose the whole deal over this?  If so, then so be it.  I ask this question just to put everything into perspective.  When buying a home, most people, including real estate agents, have tunnel vision.  People tend not to see the big picture when negotiating a transaction.  It helps to step back and look at the big picture.  I mean, maybe the purple carpet that you wanted in the coat closet isn’t such a big deal after all.  All I am saying is, don’t bag a deal over something little that needs 15 minutes of attention and a little paint.   If it is serious, then that’s obviously a different story.  This being said, if you are looking for Center City Real Estate drop me an email at Zach@CenterCity.com.  I would be glad to tell you when you are being stubborn!

“Top five reasons to love Bella Vista”

1) Good Proximity to Restaurants and Shopping
2) Great Values
3) Really good public transportation
4) Interesting architecture styles throughout
5) The Italian Market

If you have any questions regarding the Bella Vista or surrounding Center City Philadelphia neighborhoods, drop me an email at Zach@CenterCity.com! I look forward to hearing from you!