New Philly Rehab Deals!!! February 2014

Thank you to all of our clients who keep bringing us great deals!!

New rehab and new construction deals for sale:  cropped-jim-81111-030.jpg

2 lots, street to street, Northern Liberties, $212,500 each, potential resale $700,000 ea. River views,

2 car garages!

Passyunk Square, 2 story fixer upper on the North side of the neighborhood, 100k!! potential resale 325k. HOME RUN

Fishtown, 9 lots, 110k each, Build 9-New Construction homes at a great location in one of the hottest locations in Philadelphia. potential resale 475k each

For more information contact Jim Onesti, Mccann Team, BHHS Fox & Roach Realtors    jonesti@mccannteam.com

#1 Real Estate Team in Philadelphia   ~  Over 600 settled transactions in 2013!! cropped-kit1.jpg

Mr. New Construction Does it Again!!

23After bird dogging and selling an amazing piece of land to one of his developers; Jim Onesti from BHHS Fox & Roach Realtors, pre-sold ALL 4 of the new homes being built there, long before completion!!

ALL sold at or very close to full price which ranged from $669,900-$689,900

23bThis amazing project was located at 547-53 N. 23rd Street, right on the corner of 23rd and Brandywine in the Art Museum Area.

These beautiful homes featured 4 stories, 2700 square feet, garage 23cparking, 2nd & 4th floor decks, 10-year tax abatements, finished basements and master carpentry throughout!!

Selling real estate and finding great deals is what we do. Both our marketing plan and our track record provide fast and proven results. If you are interested in finding out more about putting our expertise and experience to work for you, contact us TODAY!

CLICK HERE to learn more about the many developments I have SOLD OUT!

McCann Team
Berkshire Hathaway HomeServices – Fox & Roach Realtors
McCann Team – 530 Walnut Street – Suite 260 – Philadelphia PA 19106
215.627.6005 Main – 215.440.2052 Direct – jonesti@mccannteam.com

Land and Shells NOT ON THE MLS!!!!

Here are a few deals not on the MLS!!  Act fast before its too late !

17xx Latona  Point Breeze  $115,000   potential resale $250,000

1329 s Hicks   Point Breeze/New Bold   $115,000

13xx Cumberland Street  Temple University   $700,000  16 unit Building with 4 additional lots   1/2 a block from Broad Street

Fishtown Lot with zoning approvals for a new home!! $69,900

 

Jim Onesti

BHHS Realtors   Fox & Roach

McCann Team

 

 

 

 

New This Week…

The median list price in Philadelphia this week is $279,900.
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.

Publication1

For a summary report please CLICK HERE!

For a market update report please CLICK HERE!

For more information or to sign up to receive weekly updates delievered right to your inbox please 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