Center City Homes Blog

Center City Real Estate in Rittenhouse Square Philadelphia

Southwest Square, AKA – Rittenhouse Square is one of the most desirable places in Center City Philadelphia.  It sits in the heart of it all, surrounded by the city’s biggest and most abundant high-rises this beautiful square is one of the 5 that exist in Center City.  Rittenhouse Square is one of the five original open-space parks planned by William Penn in the late 17th century.  The other 4 squares are: Centre Square (City Hall) Northeast Square (Franklin Square) Northwest Square (Logan Square / Logan Circle) Southeast Square (Washington Square).  Southwest Square, now named Rittenhouse Square received its new name in 1825 after David Rittenhouse who was a descendant of the German immigrant, William Rittenhouse.  William was the first paper-maker in Philadelphia and his original paper-mill site is known as Rittenhousetown which is located in Fairmount Park along Paper Mill Run.

Today this stunning square is surrounded by beautiful highrise condominiums and office buildings.  Rittenhouse neighborhood is not only populated by high-rise condos but also by some of the city’s most fantastic Victorian homes.  With the highest prices per square foot of any neighborhood in Philadelphia, Rittenhouse has many types of living sure to please all who see.  For more information on Rittenhouse Square and its real estate, please call or email Zach Skidmore at Zach@CenterCity.com / 215.901.7844!

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

Cost Savings Comparison

Although this “cost comparison” will apply to any type of home, new or old, let’s assume you are buying a new construction home in the heart of Bella Vista Philadelphia; if you are savvy money person and analytical when it comes to your finances you will not only understand the importance of buying at the low point in the market but how it pertains to you in a monetary sense.  Let’s make this simple…..interest rates play a huge role in money owed on your note throughout your 30 year mortgage.  For example see chart below:

Price     /       Mortgage   /   1% Interest Savings – 8 Years  /  2% Price Depreciation

$249,750       $200,000          $11,520                                                          $4,995
$375,000       $300,000          $17,088                                                         $7,500
$500,000       $400,000          $22,752                                                        $10,000

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

BELLA VISTA LOFTS   Unit #710

Spotlight Listing

Beautiful Bi-level condo with soaring 18 ft. ceilings. Pristine bamboo hardwood flooring throughout the entire 1610 sq. ft. condo. Large windows facing west with tons of natural light and great views of the skyline and sunset! First floor is a spacious open floor plan with living room, imported Schiffini kitchen, and dining room with 1 full bath. Second floor is 2 bedrooms and 2 full baths. All baths are over sized soaking tubs. Heated garage PARKING with one spot deeded to the unit with an option to have a lift for a second parking spot at an additional cost. 24/7 doorman, fitness center, huge community party/media room, bike racks and tons of storage in the basement. Almost 7 years remaining on the tax abatement. Pet friendly.  For more information call Zach at 215.901.7844!

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

        With interest rates the lowest they have been in years and price tags half as much per square foot as New York, what’s not to LOVE?  Oh yea, and most properties in Philadelphia have tax abatements, which could bring your taxes down to way under one thousand dollars for the year.    Over the last year, Philadelphia’s most recognizable and expensive neighborhood, (Rittenhouse Square) has an average settled price for square foot ranging from $500-$800!  This compared to NYC where you are looking at least double ($1400-$1700) for comparable size properties.  With this being said New York is a great city but at what costs when you’re only a 45 min train ride away.  Not to mention, you could easily have a longer commute just trying to get from one side of NYC to the other!  So if you are thinking of moving to the great city of Philadelphia, feel free to drop me an email at Zach@CenterCity.com and let’s discuss some possibilities.

 
       I was on my way to an appointment the other day when I had to stop due to the Lexus LS in front of me parallel parking.  After 5 minutes of torture I was ready to get out of my car and ask if I could park it for her.  I consider myself a patient individual but I draw the line at 5 minutes of unsuccessful parking.  (And to add insult to injury, the Lexus LS has a rear view backup camera)  If you have this problem and are looking for Center City Real Estate please give me a call so I can find you a property with a parking spot.  I will also give free instruction on how to successfully parallel park.  Zach@CenterCity.com

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!

       With all the information online nowadays, people often wonder if and why they need a real estate agent.  To me, the answer to this is simple:  this is our profession.  I don’t tell my accountant how to do my taxes and I don’t tell my mechanic how to fix my car for one main reason, it’s not my profession!  If you are on the fence about hiring an agent, here are 5 great reasons for why you should.

1.       EDUCATION & EXPERIENCE

       Real estate is our job; it is something that most of us do almost every day of our professional career.  The average American purchases 4 or fewer homes in a lifetime!  Realtors have encountered many trials and tribulations which he or she is educated in dealing with, while the average Joe has no clue on how to handle certain situations.

2.       NEIGHBORHOOD KNOWLEDGE

       This is huge, but even more so here in the big city of Philadelphia.  As many locals know, Philadelphia is very neighborhood specific in many ways.  The values of homes can differ quite significantly depending on certain neighborhoods and the convenience of Center City and transportation (and parking).  This is usually common sense to the educated buyer but that being said, they usually don’t know it nearly in depth as your real estate professional!

3.       MARKET CONDITIONS AND PRICE GUIDANCE

       I am sorry to break this to you but understanding current market conditions in your city or state is not just watching the morning news.  Obviously each and every state was affected differently; this is also accurate when comparing different cities in the same state.  Price guidance is a must from your realtor.  It is our job to educate you on the market and let you make the overall decision.  It is in our best interest and we only want you to leave a deal 100% satisfied.  If that is not the case, we have not performed our job.  This being said, when we inform you that your house isn’t worth $3 million but is actually more in the price range of $400,000-$500,000, you should take into consideration that this is our vocation!

4.       PROFESSIONAL NETWORKING     

       Since we are real estate agents we have encountered many different people in our professional careers such as home inspectors, mortgage companies and appraisers.  Although a realtor should NEVER tell you who to use, we most definitely can suggest a few possible individuals or companies.  As an agent, I get asked all the time, “who should I use for my home inspection?”  My answer to this is simple, “I have a few that I have had great experience with and they do a good job, but by no means do you have to use these people.” 

5.       DEVELOPING RELATIONSHIPS AND ANSWERING QUESTIONS AFTER SETTLEMENT

       Typically during a purchase of real estate you begin to develop a relationship and trust with your agent.  This is huge for us in this business!  After settlement with a client our job isn’t over.  I am always in contact with past clients to make sure all is well and see if there is anything that I can do or help them with.  Your best interest is ALWAYS our best interest.  And that should be the case with every real estate professional!

If you have any questions or are looking for Center City Real Estate, please feel free to drop me an email at Zach@CenterCity.com.

Please Feel Free To Comment On The Blog!!!