The Path Between Perception And Value Is Not Long – The Cache Of Many Condo Buildings
If the adage location, location, location were as etched in stone as it is etched in many buyers minds, then there would be little price difference between The Wanamaker House Condos at 2020 Walnut St., and it’s high-rise condominium neighbor, “2135″ Walnut St. If size dictated values alone, then The Ayer and the Aria could easily be priced similarly. And if being a newly constructed building equated to similar pricing structures, then Two Liberty and WaterFront Square would roughly pull the same dollar per square foot. Sure, location, size, and amenities do play a role in the value of a Philadelphia condominium, but clearly, this is not the only litmus test of value.
The first step is to come to a reservation agreement so that the unit is reserved and a down payment is agreed upon. Usually the builder can reserve the right to alter the price within the contract with the buyer having the right to cancel the contract and receive full refund.
Not but a block away sits the lovely 250 S. 17th St Condos. Noted also for it’s pre-war charm, lack of parking, ornate interiors, and some very large units- This high rise, pre-war, doorman building doesn’t sell at nearly the same dollar per square foot as 1830. Which begs the question- if location, style and amenities don’t dictate price structure, then what does?
The aquarium and Museum of Science and Nature, the Denver zoo, and many other of the city’s major attractions are all nearby the Cherry Creek townhomes. You will never run out of things to go and do with a city that offers so much to see. The best shows such as Stomp, Phantom of the Opera, Dame Edna and Wicked are among some of the famous acts shown at the Denver Center for the performing arts.
Though I would hardly argue this point, it is valid to ask, how did the building become such a benchmark, and why does it sell at a significantly higher dollar per square foot than similar buildings with many of the same attributes? Again, I believe the answer to be perception. And perception is a strong motivator in many decisions made by the buying public- regardless if you are talking cars, clothes, or condos. Perception rules. Period
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