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Bruce Lang's Blog

By Bruce Lang | Broker in Philadelphia, PA
  • values holding vs changes.

    Posted Under: Market Conditions in Washington Square West, In My Neighborhood in Washington Square West, Property Q&A in Washington Square West  |  January 30, 2011 10:30 AM  |  506 views  |  No comments

    sometimes it takes some facts. Solid buildings are still solid, others with other challenges. 

    In wash west, the large and cool Strickland Row condos have suffered from several short sales/foreclosures. A few people have had GREAT buys.  The condo fees are high as it includes utilities, a pool and older infrastructure, but the total monthly expense works. Just don't compare this to other 200-300kk condos. When buyers look at older OLD WORLD condos, you need to look at other 175k-250k places which are newer to come up with the same montly costs.  At the same time, the size and location is attractive.

    Homes recently sold on quince street for the same or greater than paid in 2005. Lets take 322 s quince. Bought 2005 for 911000, sold 2010 for 920,000

    A condo bought at the western union building in 2010 resold 6 months later for more.  In the same building, the "a" line is now sold out. It ranged from 600k-750k depending upon floor, finishes and parking. One just sold without parking just under 700k.
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