15 New Homes coming to Front and Dickinson

I just sold a fantastic lot to one of my Developers at Front and Dickinson Street in The Pennsport section of Center City Philadelphia. Fifteen homes will be built, delivery Spring 2017. Each home will have Garage Parking, 10 year tax abatement, Roof deck and 2500-3200 square feet. There are corner homes available as well. These 4-story homes will have amazing views and top of the line finishes throughout. Contact me for details and to reserve a unit. Jimconstruction-plans-and-hat

Amazing Development Opportunity Just North of Center City Philadelphia!!

Close to Center City, there is a rarely offered opportunity in an up and coming location, at a very convenient place for travel to and from the tri state area!

Philadelphia has just announced that there are major development plans in place, located just above Fishtown in the Port Richmond and Bridesburge areas.

The exciting plans include 7 lots that have been fully approved for 7 duplexes, which will allow for 14 units total!  There is also 14-car parking and roof decks!

Take it from me that this is an amazing opportunity.  I am the listing agent for this site and I can assure you that it is a great deal! It is a phenomenal mid to long term investment, the opportunities are endless!

The asking price is $399k for the site…which of course, is negotiable!

Please click the links below to learn more about what the City has planned for the Port Richmond and Bridesburge areas in the future! Also, see the attached site plan and zoning permits. 

Philly Planning Commission releases River Wards draft plan

Porch Richmond Industrial Development Enterprise gains RCO status

Plan to reconstruct and improve I-95 between I-676 and Allegheny interchanges

Coming soon! Kensington local food coop market

Site plan and zoning permit

For more info or to take a tour of the site, contact me today!!
Jim Onesti 215-440-2052 or jonesti@mccannteam.com
BHHS Fox & Roach – 215.627.6005 Main

Discount Brokers: The Real Deal

We have all heard the old saying, “If it sound like it is too good to be true, it probably is.” Unfortunately, this is typically the case with discount brokers. Whenever the real estate market reaches a high point, tons of new, discount brokers and startup companies seem to appear out of nowhere. They come promising dramatically decreased commission percentages in exchange for their discounted services. Now, we understand how appealing this may look but I want you to be informed and aware of the risk involved when you come in contact with these operations.

As an experience realtor, I have seen the poor service that these organizations provide on numerous occasions. Many of these companies require upfront payment in order to list the property in the MLS and then disappear, leaving clients baffled, confused and alone.  Eventually, the companies disappear completely, leaving a great deal of wreckage behind.

Be Forewarned! These individuals do not do the same job as legitimate, real estate professionals. They will not take the time to market your home, manage paperwork, host open houses or guide you through the negotiation process like genuine professionals. They will simply cash your check, list the property and disappear.

Bottom line, if your home is not a discount property, then do not list with a discount broker. Those flashy and appealing discounted rates could end up costing you more than you ever imagined. Be safe, be smart, and beware of the discount broker.

For a name you know and a Realtor you can trust, contact me today!
Jim Onesti – BHHS Fox & Roach – McCann Team – 215-627-6005 Main
215.440.2052 Direct or jonesti@mccannteam.com 

Another Incredibly Successful Development Story!

2
1323-41 N Howard Street is just another in our
many developer success stories!
We sold this to one of our builders, it was an off market lot
Never hit the MLS!!
The 21 homes are now being built && we have already pre-sold
13 of the 21 homes!!
howard
Be sure to keep in touch for off market lots, shells, multi’s and fixer uppers.
Jim Onesti & Mike McCann – BHHS Fox & Roach.
215.627.6005 Main or 215.440.2052 Direct
Best way to get in touch: jonesti@mccannteam.com

Build Your Dream Home in the Meredith School District!

NOT ON THE MLS!

Bella Vista LOT APPROVED for a 4000 sq’ home

Located in the Meredith School District Catchment

Build your dream home! Several comps well above $1,000,000+++
OR build a custom home for a client!!

Click Here For Plans: A  B  C  D  E

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

BHHS Fox & Roach – Mike McCann Team – Main 215.627.6005

4 Amazing Development Opportunities!!

Not yet on the MLS

1713 S. 9th Street. Passyunk Square. Huge 2 story corner home with GARAGE, deck, 4 bedrooms and two baths. Needs updating but in great condition! Asking $225k

1318 S Opal, Point Breeze, $79k. Two stories, needs complete renovation.

1320 S Cleveland, Point Breeze, $89k. Two stories, needs complete renovation.

14 lots in Northern Liberties, fully approved for town homes with garages and parking. $150k each!

Contact Jim Onesti for more info. 215.440.2052 or jonesti@mccannteam.com
BHHS Fox & Roach Realtors & The McCann Team. 215.627.6005

When We Tell You A Deal is a Home Run You Should Listen!!

CoverLast year we had a 31 property package of Graduate Hospital homes listed at $8 million.

We estimated the package to be worth $10 million IN AS-IS CONDITION and with value added it would be worth closer to $13 million.

These properties have all recently sold and settled, with most of them in as is condition and most for an average sale price of $400,000++ per property!!

With demand in the Graduate area extremely high and inventory extremely low, this was definitely a once in a lifetime opportunity!!!!

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Property Tax Assessment Appeal Deadline Is Just Around The Corner!

An over assessed property can cost property owners and tenants several thousand dollars in additional taxes annually.

Negative impacts of an over assessed property: Lower net operating income if the real estate taxes are not reimbursed by the tenants. Tenants have numerous choices in today’s real estate market and consider not only the initial face rent but the pass through expenses when choosing a location for their business.

The additional real estate taxes from over assessment can result in a lower face rent for the property. Landlords may have trouble obtaining or retaining tenants due to the high real estate tax burden due to over assessment when the real estate taxes are passed through to the tenant. Lower value when selling the property or obtaining an appraisal for refinancing.

Bottom Line…an over assessed property costs you money!

The initial cost of properly preparing an appraisal report as well as the cost of obtaining legal counsel for the tax appeal hearing may seem costly at first and expenses sometimes exceed the first year’s tax saving. However, these tax savings will continue in the following years and the future benefit will far outweigh the initial cost.

Last year 579,000 properties were reassessed in the City of Philadelphia to establish “fair and accurate” market values. Unfortunately, not all properties received a “fair and accurate” value causing the derailment of commercial real estate deals as well as shocking commercial property owners with overwhelming tax increases based on an incorrect assessed market value of the property. Even though, not as dramatic the four suburban counties of Bucks, Chester, Delaware and Montgomery have widely divergent assessed market values.

Philadelphia Suburban Realty Appraisal Group welcomes the opportunity to provide you and your clients with a proposal for commercial real estate appraisal services to support your property assessment appeal. The Philadelphia Suburban Realty Appraisal Group is a team of professional commercial real estate appraisers that can determine the realistic market value of your commercial real estate. If you are one of many commercial real estate property owners paying taxes based on an overvalued property you need to act soon. Call TODAY to find out how they can help! Their appraisers work with attorneys, tax consultants and private property owners to produce accurate and reliable appraisals to bring about fair tax assessments.

For more information contact:

Joseph Vizza, MAI
Matthew Peters
James Onesti
Stephen Onesti
Telephone: 215-238-1911
Fax: 215-238-0414
http://www.psrag.com