TWO Graduate Area Triplex’s For Sale!

Not on the MLS yet!!

Publication1

Two Graduate Area Triplex’s For Sale!
Each lot size is 17×70. Each is listed for $225k!
Knock Down & Build New OR Keep As-Is and Fix Up!

For more information or to make an offer contact Jim Onesti today!!
215.440.2052 or jonesti@mccannteam.com

New This Week…

The median list price in Philadelphia this week is $189,994

Inventory and days-on-market are both trending higher recently.
However, the improving Market Action Index implies some increased demand will temper the negative trends.

Phila pic

For this weeks market update report CLICK HERE!

For this weeks summary report CLICK HERE!

For more information or to sign up to have updates delivered right to your inbox please contact
Jim Onesti 215.440.2052 or jonesti@mccannteam.com

PHILADELPHIA, PA

Finally Available: 107 Callowhill Street

Just in: 107 Callowhill Street

Get in on this new development opportunity (not in the MLS) from the very beginning! Don’t wait to be a part of this fantastic project in the historic and electric Old City section of Philadelphia.
Asking Price: $250k
Features: lot approved for mixed-use building right by Old City

Click 107 Callowhill for more details!

Get a better view of the neighborhood!  

Still want more info? Leave me your comment and I’ll respond as soon as possible!

Just In: 3791 Main Street in Manayunk

3791 Main Street is now available!
Beat the rush and request exclusive info on this new development opportunity (currently not in the MLS) today!
Asking Price: $600k
Features: 15 buildable lots in the always vibrant and white hot Manayunk area!

Click 3791 Main St for more details!

Wondering about the neighborhood?  Take a look at the sites you’ll find here:

Still want more info? Leave me your comment and I’ll respond as soon as possible!

New This Week in Philadelphia…

The median list price in Philadelphia this week is $189,900.

The Market Action index has been trending down lately, while days-on-market is climbing,
providing mostly bearish signs for the market.

Publication2

For this weeks summary report CLICK HERE!

For this weeks update report CLICK HERE!

For more information or to sign up to have these reports sent directly to your inbox, contact Jim Onesti 215.440.2052 or jonesti@mccannteam.com

With Economic Improvement Comes Higher Interest Rates…

1For months, the financial markets have been focused on the question of when the Federal Reserve will begin to scale back its massive bond buying program.

On Wednesday, comments from Fed Chief Bernanke and the Fed Minutes (the details of their internal meeting that gets published) caused investors to think that the tapering may begin sooner than expected.

The acknowledgment that Fed officials believe that economic growth actually could pick up quickly enough to justify a reduction in monetary stimulus was encouraging, but it was bad news for mortgage rates.

The rate sheet reflects rates that have not been up to this level since around the same time last year, ironically enough.

One of the primary goals of the Fed’s bond buying program is to to keep mortgage rates low to stimulate the housing market and boost the economy. To this end, the Fed currently purchases the vast majority of newly issued mortgage-backed securities (MBS) each month.

Since mortgage rates are mostly determined by MBS prices, this enormous demand from the Fed has helped mortgage rates decline to historically low levels.

Publication1The Fed’s MBS purchases will eventually end, however, and this week’s Fed comments raised investor concerns that this will take place sooner than previously expected.

On Wednesday, Bernanke acknowledged that there is a chance that the Fed could begin to taper its MBS purchases at one of its “next few meetings”, based on economic conditions.

So the overall feeling that the economy is continuing to recovery is good news, but with this improvement will come higher interest rates.  While this is about as high as we’ve seen in about a year this still reflects historically low mortgage rates.

I hope everyone enjoyed their Memorial Day weekend. Above is a striking picture of Pearl Harbor as we remembered all our heroic men & women who have served in our Armed Forces this past weekend.

Courtesy of Jason Griesser, Trident Mortgage

For more information contact Jim Onesti. 215.440.2052 or jonesti@mccannteam.com

Meredith School District HOME/ and or LOT for sale!! 627 Catharine!!! NOT IN MLS. Build your Dream home

Build your Dream home in Bella Vista/Queen Village, in the Meredith School District…

17 x 75 foot lot for sale with zoning approvals to build a 3-story, 3000 square foot custom home  $399,900

OR   cropped-jim-81111-030.jpg

Our Builder client will build you your dream home, total sale price $999,900

Contact Jim Onesti, McCann Team, Prudential Fox & Roach Realtors for details!!

215-440-2052   215-627-6005

jonesti@mccannteam.com

Jim Headshot Flyers & Print

Mike McCann is Featured on CNBC’s Power Lunch!

Mike McCann on CNBCMike McCann “The Real Estate Man” spoke on CNBC’s hit show POWER LUNCH about the real estate market and real estate trends in Philadelphia.

McCann is the broker and team leader of one of Philadephia’s top Real Estate teams and works in all areas of the metro area, and spoke about the values in some of Philly’s hottest neighborhoods.

CLICK HERE TO WATCH THE VIDEO!!

Mike McCann 215.440.8345 – Jim Onesti 215.440.2052 – Office 215.627.6005
Prudential Fox & Roach Realtors – 530 Walnut St # 260 – Philadelphia PA 19106

 

New This Week in Philadelphia…

median list price in PHILADELPHIA, PA this week is $189,900.
Demand measured by the Market Action Index is increasing and days-on-market is trending downward.
Even as more properties come available, these are positive trends for the market.

Phila pic

For this weeks summary report CLICK HERE!
For this weeks update report CLICK HERE!

For more info or to sign up for auto email updates please contact Jim Onesti 215.440.2052 or jonesti@mccannteam.com