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.


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

Great new shell listing in HOT HOT area of Center City Philadelphia!!! Not in MLS!!!

2515 Manton street for $39,900. near 25th and Federal.

This area is on fire!  every builder and developer is buying land, building homes and rehabbing shells…the rents are amazingly high…we recently rented a small 3 bedroom on 2600 Manton for $1100+/month!!!  Very close to center city… call for details

Jim Onesti    McCann Team     Prudential Fox and Roach RealtorsJim Headshot Flyers & Print

New Art Museum Area Fixer Upper!!

2948 Ogden Street is a large 2600 square foot property with GARAGE and DECK!

Currently set up as a duplex but could easily be converted into a single family home or kept as a fantastic duplex!

Property is a great fixer upper listed at just $275,000…once in a lifetime opportunity! Not yet listed in the MLS!

Surrounded by trees and located on a great block! Call for more info today!

Jim Onesti – 215.440.2052 – jonesti@mccannteam.com

Interest Rates still at historically low levels!!!!!!!!!!!! But for how much longer?

photoAnother week of strong economic data would normally push mortgage rates a little higher, however, rates recovered some ground instead and ended the week slightly lower. The big report this week was a very strong Retail Sales report. This report is always watched very closely as a major economic indicator due to Retail Sales accounting for about 70% of 
all economic activity in the US. This kind of strong economic growth should support continued improvement in the housing market.
Regarding some day-to-day stuff…it is normal this time of year to see pending closing dates on agreements of sale going into the summer. Often the pending close date is outside the free 60 day rate-lock period Trident honors. (which is nice considering most banks/lenders/brokers will only lock for 30 days for free) In these extended closing date cases we can lock the rate for longer than the standard 60 days, but there are costs associated with this option. Typically the cost is about .5% of the loan amount for every extra 30 days needed in the rate-lock period. While the buyer will always have this option to pay to lock-in we’ll also track the rates closely for your clients if they choose not to lock-in and patiently wait until they’re within the 60 day free rate lock period.cropped-2.jpg

New This Week…

This week the median list price in Philadelphia is $199,900. Inventory has been decreasing lately but the market action index is falling also. With days on market climbing, these are relatively negative implications for the market.

Phila Pic

For a Weekly Summary Report please CLICK HERE!

For a Market Update Report please CLICK HERE!

To sign up to receive automatic weekly updates please contact
Jim Onesti 215-440-2052 or jonesti@mccannteam.com

New This Week…

The median list price in Philadelphia this week is $199,000. Inventory has been lightening lately and the market action index has been trending up. Though days on market is increasing, these are mildly positive indications for the market.

phila pic

For a weekly summary report CLICK HERE!
For a market update report CLICK HERE!

For more information or to sign up for weekly updates please contact
Jim Onesti 215-440-2052 or jonesti@mccannteam.com