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. Jim
FISHTOWN LOT-9 units- Not on the MLS!
Incredible New Development Opportunities!
2209-15 League Street. Graduate Hospital!! 3 continuous lots and a shell. $675k
22XX Greenwich, Point Breeze – Coming soon! – $45k
Francisville Lots: 833-835 N 15th Street + 837 N 15th Street + 1437 Parrish Street
(ZONED IRMX which allows multi-family with NO commercial requirements!!!)
833-835 N 15th St – $119,000.00 – 837 – $89,000.00 – 1437 Parrish – $99,000.00
For more information or to make an offer today contact
Jim Onesti 215.440.2052 or firstname.lastname@example.org
BHHS Fox & Roach, McCann Team 215.627.6005 Main
Philadelphia AVI Update!
As you know the AVI Actual value Initiative affects the value of homes and is the basis for our real estate taxes. GPAR has and is continuing to work with City Council on various pieces of legislation that would protect homeowners from tremendous increases in their real estate taxes.
The link below will show 3 forms for you to distribute to your clients who may need some form of relief of the tax burden:
1. Senior Tax Freeze (filing deadline January 31, 2014) – Your real estate taxes are “frozen” at the 2013 amount. To be eligible, you must be low income (less than $23, 500 in annual income if single; $31,500 if married) and over 65 (or be a widow/widower over 50 whose deceased spouse was over 65).
2. Homestead Exemptions (filing deadline September 13, 2013) – $30,000 is deducted from the assessment from owner-occupied residences. Applications were sent to all homeowners late 2012. You can check to see if you have applied by visiting: http://avicalculator.phila.gov type in your address and under Property Information, verify that “YES” is under Homestead. If “NO” then complete attached form.
3. BRT Appeal – (filing deadline October 7, 2013) – If you believe that the assessment is truly inaccurate as determined by the OPA (office of Property Assessment) you can appeal to the Board of Revision of Taxes. While on appeal, you will pay your real estate taxes at the 2013 rate with no interest and penalty accruing until the BRT rules on your case.
Click on this link to find forms. http://gpar.org/images/uploads/tax_assessment_application_201308291427.pdf
For more info contact Jim Onesti. 215.440.2052 or email@example.com
*Info courtesy of GPAR*
Billboard For Sale!
TWO Graduate Area Triplex’s For Sale!
Not on the MLS yet!!
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 firstname.lastname@example.org
With Economic Improvement Comes Higher Interest Rates…
For 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.
The 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 email@example.com
Mike McCann is Featured on CNBC’s Power Lunch!
Mike 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.
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 firstname.lastname@example.org
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