Welcome to our podcast with Mark Wade of BHHS, Fox and Roach Realtors, CenterCityCondos.com - where we delve into property valuations with regards to condo special assessments. We discuss its implications on contracts of sale, potential negotiables, and how they affect a given building's value and demand.

Discover how the nature of special assessments can influence market behavior. We look at real life examples of buildings such as the Plaza at 1901 Walnut, where their non-visible - but significant - special assessment led to years of stunted growth. Learn about how large, less visible assessments can cause the demand and value of a building to decrease.

The podcast also explores different financial layouts of buildings – from those that plan ahead with significant contributions to their assessment funds, to those that prefer spontaneous collection. Special assessments can influence the market attractiveness of a property and understanding them can be key in making informed purchase decisions.

Lastly, we also differentiate general talk of future improvements from actual assessments. Mark shares the important implication that, unless a future improvement is officially agreed upon and recorded, it cannot be considered a special assessment.

This podcast is essential listening for anyone interested in condo investment, looking to buy a condo, or even anyone curious about how condo special assessments work. If you have any questions or comments, feel free to reach out to Mark Wade at 267-237-3404. Thank you.

In this podcast, Mark from CenterCityCondos.com at BHHS Fox & Roach Realtors discusses the ramifications of a recent lawsuit that the National Association of Realtors has settled and its potential to fundamentally alter the real estate industry starting in July. This podcast touches on the uncertainties around commission procedures, the implications on realtors and buyers, and a forecast of future industry changes.

Mark breaks down the lawsuit results and dives into two crucial outcomes. Firstly, a selling agent can no longer disclose in the Multiple Listing Service the commission a buyer broker will get if they sell a property. Secondly, a buyer broker must secure an agreement on their commission from a buyer before beginning the property search process. He anticipates that these changes will lead to a decrease in the number of Realtrors due to the high costs associated with being a realtor.

Mark also examines potential strategies for buyers and sellers amidst these changes. He suggests some buyers might ask for property rebates to cover their agents' commission costs and anticipates a rise in popularity for open houses. He also foresees a potential shift in the selling paradigm if sellers opt not to pay a buyer's agent's commission.

Looking ahead, Mark predicts that buyers could increasingly hire transactional agents that provide limited representation to help navigate the home buying process, and charge a percentage of the sale price. He also sees potential for real estate commissions to decline, with realtors possibly taking on more roles for less commission. Mark also theorizes about the negative impact on property values if condos stay too long on the market due to commission changes.

Mark acknowledges the real estate industry's future remains uncertain and commits to provide ongoing updates. He wraps up by opening the conversation to listener feedback and thoughts on the evolving landscape.

Welcome to a brand-new podcast episode, hosted by experienced realtor Mark Wade of BHHS Fox and Roach Realtors. Tapping into his rich 35-year experience as a realtor and a resident of Old City for 22 years, Mark provides invaluable insight into different buildings in Old City.

Beginning with 108 Arch, Mark shares that this building has a clean, inviting look with its zinc and brick exterior. He notes only one complaint about the lack of options for a second parking space, but acknowledges such issues come with living in Center City.

Across the street, 101 Arch, while drawing praise for its beautiful facade, is often criticized for its rather dated, worn interior and security concerns with an occasionally unlocked front door. However, on the flip side, Mark mentions the hugely appealing factor of this building is the phenomenal dollar per square footage and its unique units.

The National, another building under spotlight, wins hearts for its underbuilding parking, newness, and loft-like look that seamlessly integrates with Old City's vibe. However, some units have walls that don't extend all the way up to the ceiling, causing noise transference. Mark points out that this issue has been solved in numerous units.

The tour winds down at 102 Church where Mark lauds the building but mentions some concerns about the entranceway and aging hallways. Despite this, the units charm with their unique details.

Mark concludes by inviting listeners to share their thoughts, questions, or comments by contacting him directly at Mark@Centercity.com.