Low House Value in Turtle Creek? (Pittsburgh, McKeesport: section 8, for sale, foreclosures)

[htx009]

I am researching and compiling an analysis on the market trends for Pittsburgh and have narrowed it down to the East Allegheny (Turtle Creek) area.

I am analyzing an offer of relocation, and was wondering if the home values in this section are accurate? Zillow gave me a 10 yr median price on a 3bd/1-2bth/2gr of around $60K= +/- and listings for these properties are going for around 35-50K.

A lot of the properties for sale are flagged as Foreclosures.
Based on this assumtion would you suggest rent vs buy in this location? I have looked at other locations in and around the surrounding burbs, but this location seems to be a good location (work location is in downtown).

[kubus_gt]

Yes they are accurate and neither buying or renting is suggested in the area. Yes you can find some gems still in decent shape, however the area is less then desireable, depressed. probably the only municipality within East Allegheny School District is White Oak that is worth consideration.

[alleghenyangel]

I disagree. It depends on what you are looking for. Turtle Creek (and other communities such as Wilmerding, Wall Boro, East Pittsburgh, etc.) are safe, affordable, and historic, full of beautiful old homes. If you want to own a beautiful historic home in a safe neighborhood close to town, you can't go wrong in Turtle Creek. If you want to live in a fashionable neighborhood with lots of young people, retail, college students, and coffee shops, this would not be the area for you. That's why it's cheap -- it's a bit removed from the action in the city, without being sterile sprawl.

Buying or renting in this location would be a good value, however with home values so low it may be a better deal to buy.

[I_Like_Spam]

Originally Posted by kubus_gt

Yes they are accurate and neither buying or renting is suggested in the area. Yes you can find some gems still in decent shape, however the area is less then desireable, depressed. probably the only municipality within East Allegheny School District is White Oak that is worth consideration.

Corrections, kubus.

Turtle Creek is in the Woodland Hills SD, not East Allegheny SD.

White Oak is in the McKeesport Area SD.

[Copanut]

Originally Posted by alleghenyangel

I disagree. It depends on what you are looking for. Turtle Creek (and other communities such as Wilmerding, Wall Boro, East Pittsburgh, etc.) are safe, affordable, and historic, full of beautiful old homes. If you want to own a beautiful historic home in a safe neighborhood close to town, you can't go wrong in Turtle Creek. .

I tend to disagree, the whole Turtle Creek Valley is changing drastically with Section 8 housing and a lack of good paying jobs. It may be cheap to buy there, but don't expect much appreciation in value.

[alleghenyangel]

Originally Posted by Copanut

I tend to disagree, the whole Turtle Creek Valley is changing drastically with Section 8 housing and a lack of good paying jobs.

Section 8, yes. But that applies to any of the lower-income urban suburbs. Turtle Creek is probably the safest of any of them. I would put it on par with Sharpsburg or Carnegie.

As far as good-paying jobs, those are in Pittsburgh, and the Turtle Creek valley offers easy commutes to Pittsburgh and the East End. I made the commute when I lived in East Pittsburgh, and it was convenient to Oakland.

[htx009]

Thanks for the info guys, how long of a commute do you typically have to Downtown Pittsburgh (Driving)?

Office location is by the Macy's Downtown store (William Penn Place)....and do you happen to know the parking rates for the downtown area.

Currently were I am located the average rate runs from 7-$30 Daily(Yikes!) and the commute to downtown is about 1 hour.

[SuburbanPioneer]

I would not recommend turtle creek at all, rent or buy. It is a significantly depressed area which borders some really bad neighborhoods south and west (Braddock, North Versailles, McKeesport, etc.) Wilkins twp and Monroeville are alright. You can find much better neighborhoods this far away from the city in your price range.

Rush hour commute to downtown from TC is about 40 minutes. Downtown parking starts at ~$10/day. You will probably be better off using east busway if you want to save some cash.

[robrobrob]

I would think that looking at market trends on Zillow isn't exactly the best way to pick a neighborhood.

[PeterRabbit]

The pending Mon–Fayette Expressway had 3 different routes proposed through TC. I read that people living there didn't want to make repairs if the state was going to come in and make them low offers. This also makes it hard to sell if prospective buyers are aware. I like the area and the people. They've been in this bad situation for decades.