What are some good areas in Pittsburgh for under 1 mil? (Lebanon: gated, budget)

[guylocke]

What?? You mean the teachers in the PR are on strike too? I just heard about Cranberry's teacher's striking.

I'm sorry, you're right, not Pine-Richland, it's Seneca Valley.

[beth ann]

Originally Posted by boylocke

I'm sorry, you're right, not Pine-Richland, it's Seneca Valley.

I guess that's reassuring......in a way...

[joeyrahimi]

Hey Jessemh431,

There was some recent press about the best areas in Pittsburgh.

According to MoneySmartPittsburgh.com, the best neighborhoods are Shadyside and Squirrel Hill ... but up and comers are Lawrenceville and the Southside.

moneysmartpittsburgh.com/blog/neighborhoods-in-pittsburgh-with-high-appreciation

Some other things you should know about Pittsburgh is that it was ranked by Forbes in the top 10 for cities with the best housing markets.

top 10 best housing markets according to Forbes Mag.
City Name; Median Home Sale Price; Percent Change
1. Salt Lake City; $246,700; 14.1 percent
2. Charlotte, N.C., $220,000, 11 percent
3. San Jose, Calif., $852,500, 9.4 percent
4. San Francisco, $825,400, 8.6 percent
5. Raleigh, N.C., $229,500, 7.5 percent
6. Austin, $188,200, 7.2 percent
7. Pittsburgh, $127,700, 6.1 percent
8. Seattle, $394,700, 6 percent
9. San Antonio, $154,700, 5.7 percent
10. Portland, Ore., $299,700, 5.2 percent

Oh, and if you're a dentist, you can definitely make $100,000 a year here, you just have to differentiate yourself from the rest.

One of my clients really does a good job at this, he started a Dental Spa 15 minutes outside of Pittsburgh where he gives his patients massages during their visits.

brandingbrand.com/pittsburgh-veneers.html

Hope this information was useful. I'm from NY and an active Real Estate investor in Pittsburgh as well. I'm all about this city. I've seen it progress over the last 10 years and the best is yet to come.

Sure, there are some bad things about Pittsburgh which I will openly discuss, but the good by far outweigh the bad.

Joey Rahimi
Managing Director
BrandingBrand.com
"The Branding Brand"

[Country_Girl_23]

If you are looking for a gated community I know one, but is about 20 min drive to pgh and back if you don't mind. It is in Moon TWP/Robinson TWP called the Cherrington Center.

Here is the link to it.
http://realestate.yahoo.com/Pennsylv...cc1dd51c31ba60

Here is another gated community.
http://www.pittsburghrealestate1.com/pittsburgh-pa-home-for-sale.shtml (broken link)

[jessemh431]

What would you say are the bad things?

[Janwp]

Hi, I'm just comming home from Florida. We inherited a small house that my husband grew up in greenock, elizabeth. Living in Pittsburgh is CHEAP, but so are the services. Most of the families in Pgh. moved to either Washington County or Zeleiople (North) about 15 years ago when the taxes were reassesed higher in the city. Look at Peter's Township for a very good school. The most expensive mansions along Bebout Road are at the most 655k. Going any higher would be silly here as the biggest yearly expense is heating in the winter. We lived in Peter's township for several years before going to Florida and rented a 2800 sq ft house for 1000 a month, but heating was very expensive. Mostly educated population. Good Giant Eagle food store. Local mall is good, (south hills village), and lots of new stores on RT. 19.

[ainulinale]

Originally Posted by streetcreed

I live in Columbus, but saw a list of all the cities in the US and the number of million dollar homes in the city. I believe it was just freestanding. Anyway, Pittsburgh had zero million dollar homes. I think that the "high-end" market in Pittsburgh is well under one million. Even some cities near Pittsburgh like Columbus and Cincinnati had well over 100. Housing costs in the Pittsburgh are lower than even other midwestern cities.

Maybe I'm misunderstanding what you are saying, but just looking at a real estate website, I find a bunch of multi-million dollar homes just in Shadyside. But, yes, Pittsburgh's housing prices are extremely cheep for the most part.

[BrianTH]

Originally Posted by ainulinale

Maybe I'm misunderstanding what you are saying, but just looking at a real estate website, I find a bunch of multi-million dollar homes just in Shadyside. But, yes, Pittsburgh's housing prices are extremely cheep for the most part.

I suspect seven-figure homes would have been a lot more rare say 5-10 years ago, so maybe part of the issue is that the data is old. But there are indeed now a lot more such homes in the region. I just did a quick search, and found 85 such listings in Allegheny County, including many in the usual suspects like Gibsonia, Sewickley, Shadyside, and Squirrel Hill.

[alleghenyman]

Yeah, they exist, but just keep in mind that a $1 million home in CA would cost $4-500k out here.

[BrianTH]

Originally Posted by alleghenyman

Yeah, they exist, but just keep in mind that a $1 million home in CA would cost $4-500k out here.

And maybe less. In some places (like the Bay Area and parts of LA) the multiple is on the order of four times, meaning what we in Pittsburgh would think of as a mid-200s house could cost over $1 million.

And it can get even worse if you turn it around. Pittsburgh still has many grand homes in nice neighborhoods getting priced in the sub-$1 million range (particularly, but not exclusively, if you are willing to invest a bit in renovation). The supply of these homes in many other cities is so low relative to demand they may well be going for multiples on the order of five times or more (e.g., you might be able to buy a grand home here for $400, put another $100 into it, and get something that would cost $2.5-3M in some other places). Basically, there are things you can buy here that just aren't in the market in other places.