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Old 09-15-2013, 11:47 PM
 
Location: Troy Hill, The Pitt
1,174 posts, read 1,523,765 times
Reputation: 1081

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Quote:
Originally Posted by JayTwila View Post
While I've only been in Pittsburgh for a few years I have noticed properties in nearly ALL City neighborhoods are up. There are fewer and fewer inhabitable properties under $25,000.00 any more. The days of the under $15,000.00 properties seem to be gone. At least when it comes to Zillow and even Craigs List. Is anyone else noticing the same? Just curious!
Everyone realizes that the reason these properties were under 25k was due to the fact that they needed a lot of work and are the product of decades of low demand due to so much migration from the area...right? 15k for a house isn't a bargain if the place is barely livable.

Any place that is under 50k probably isn't a place that you'd want to own unless you know a significant amount on how to fix the place up, and actually have the interest in doing so. If you can't afford a mortgage payment for a house that costs at or more than that amount (to give you an idea ours is currently at $450/month with 47k left to pay off), you're better off trying to save up until a real steal comes along.
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Old 09-16-2013, 12:51 AM
 
Location: Kittanning
4,692 posts, read 8,547,601 times
Reputation: 3660
Quote:
Originally Posted by Q-tip motha View Post
Any place that is under 50k probably isn't a place that you'd want to own unless you know a significant amount on how to fix the place up, and actually have the interest in doing so.
There are many, many homes under 50k that are in immaculate condition, based on what I have seen. Most of them are in less desirable areas, river towns, or suburbs. However, many do not retain much of their original character, or are post-War ranches and Colonials in places like Penn Hills, Baldwin, Lincoln Place, and Blackridge.
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Old 09-16-2013, 01:27 AM
 
Location: Troy Hill, The Pitt
1,174 posts, read 1,523,765 times
Reputation: 1081
Quote:
Originally Posted by PreservationPioneer View Post
There are many, many homes under 50k that are in immaculate condition, based on what I have seen. Most of them are in less desirable areas, river towns, or suburbs. However, many do not retain much of their original character, or are post-War ranches and Colonials in places like Penn Hills, Baldwin, Lincoln Place, and Blackridge.
Immaculate?

That's a bit of a stretch don't you think?
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Old 09-16-2013, 03:57 AM
 
Location: Virginia
18,717 posts, read 29,856,611 times
Reputation: 42976
I like that one on Vodeli Street. What's Beechview like as a place to live? That's an area that doesn't get discussed that much on this forum.
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Old 09-16-2013, 04:27 AM
 
Location: 15206
1,860 posts, read 2,441,916 times
Reputation: 1300
Quote:
Originally Posted by JayTwila View Post
Yes. Relative to comparative income levels and purchasing power parity. Yes. I know properties under $50,000.00 that are inhabitable can be a total bargain. But it's still a shock to see a house jump from $10,000.00 to $15,000.00 to $20,000.00 in the space of say 5 years.
No it isn't when a roof costs $7,000 and a furnace is $4,000.

Prices don't usually don't double in a few years without improvements unless they are in an area that didn't appreciate for decades like Lawrenceville, East Liberty, or the Southside 15 years ago.
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Old 09-16-2013, 07:07 AM
 
1,010 posts, read 1,329,667 times
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Quote:
Originally Posted by PreservationPioneer View Post
I would go with Erie. It has one of the lowest crime rates of any city in PA, has a lot of big city amenities, walkable downtown and neighborhoods, sub $20k historic cottages, and PRESQUE ISLE.
Erie is nice, but if you work in pittsburgh a 2.5 hour commute one way is a little too long. Thats why I suggested wv. I would think the job market up there is worse than pgh.
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Old 09-16-2013, 09:25 AM
 
Location: Pittsburgh
6,646 posts, read 8,884,834 times
Reputation: 10047
Quote:
Originally Posted by Q-tip motha View Post
Everyone realizes that the reason these properties were under 25k was due to the fact that they needed a lot of work and are the product of decades of low demand due to so much migration from the area...right?
Exactly. You pretty much need to have long-term depopulation to get a house that cheap because otherwise the cost of existing housing will stay at some relatively high fraction of the cost of building a new house.

The $25,000 house was never going to last. Either demand picks-up and the prices increase or demand stays low for long enough that nobody puts any money in the house and it gets abandoned.
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Old 09-16-2013, 09:44 AM
 
Location: The Flagship City and Vacation in the Paris of Appalachia
2,753 posts, read 3,625,524 times
Reputation: 2036
Quote:
Originally Posted by zman63 View Post
Erie is nice, but if you work in pittsburgh a 2.5 hour commute one way is a little too long. Thats why I suggested wv. I would think the job market up there is worse than pgh.
Yes the job market in Erie is worse than Pittsburgh, but there are jobs for those with certain qualifications with Erie Insurance and all of the colleges/universities and hospitals. The key is getting a job before you move which is something I would always recommend regardless of where you are planning on moving.
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Old 09-16-2013, 09:53 AM
 
Location: O'Hara Twp.
4,359 posts, read 7,059,282 times
Reputation: 1610
Quote:
Originally Posted by selltheburgh View Post
No it isn't when a roof costs $7,000 and a furnace is $4,000.

Prices don't usually don't double in a few years without improvements unless they are in an area that didn't appreciate for decades like Lawrenceville, East Liberty, or the Southside 15 years ago.

If all you can afford is a 25,000 house I don't think you have any business owning a home. The problems is appliances, roofs, etc. cost the same whether the house is worth 25,000 or 250,000. It is different if you could afford a 100,000 house and made the choice to buy a 25,000 house. Regardless, I would think you would need to save about 500 a month for potential maintenance.

We do fine but it will still be a hit when we have to replace our furnance/ac or our roof.
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