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Old 06-06-2018, 03:04 PM
 
1,524 posts, read 1,309,909 times
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Quote:
Originally Posted by pittsburghbully View Post
You are wrong penn hills real estate market is actually strong and a 100k home isn’t abnormal at all
$100K list price is like 1/3 The national average
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Old 06-06-2018, 05:54 PM
 
Location: Kittanning
4,692 posts, read 9,031,392 times
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Everyone knows Penn Hills is in decline. I'm not saying that as a bad thing. Look where I choose to live! Lots of affordable, livable homes in Penn Hills, and it's convenient to everything. Personally, I prefer Verona (more walkable).
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Old 06-06-2018, 06:00 PM
 
2,277 posts, read 3,959,166 times
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Quote:
Originally Posted by PreservationPioneer View Post
Everyone knows Penn Hills is in decline. I'm not saying that as a bad thing. Look where I choose to live! Lots of affordable, livable homes in Penn Hills, and it's convenient to everything. Personally, I prefer Verona (more walkable).
Every now and then I see a pretty sweet mid century mod in Penn hills. I would have considered the area but my job was down in canonsburg, wasn’t going to make THAT commute.
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Old 04-16-2019, 11:51 AM
 
1,952 posts, read 1,129,168 times
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Another year and homes on the market really haven't picked up much. People just aren't moving.


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Old 04-17-2019, 05:26 AM
 
1,524 posts, read 1,309,909 times
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Quote:
Originally Posted by Knepper3 View Post
Another year and homes on the market really haven't picked up much. People just aren't moving.

OK but are more people entering than leaving the region? The fact that people don’t want to leave seems like a good thing
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Old 04-17-2019, 05:33 AM
 
Location: Pittsburgh, PA (Morningside)
14,352 posts, read 17,012,289 times
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Quote:
Originally Posted by PGH423 View Post
OK but are more people entering than leaving the region? The fact that people don’t want to leave seems like a good thing
This is just a wild guess, but my hypothesis would be that a lot more homes - particularly on the lower end of the market -have been captured by investors who use them as rental properties. Pittsburgh has been a cheaper city to own in than to rent in for quite awhile, and when considered in tandem with the rising housing prices here, it makes investment in rental RE a tempting option. That being the case, as we all know neighborhoods with lots of rental properties - even if originally intended as SFH (looking at you Oakland) generally have few homes go on the open market.
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Old 04-17-2019, 06:46 AM
gg
 
Location: Pittsburgh
26,137 posts, read 25,957,812 times
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Inventory is low. Bidding wars are happening in my area. It is a sellers market for sure.
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Old 04-17-2019, 06:58 AM
 
14 posts, read 11,636 times
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Quote:
Originally Posted by PGH423 View Post
OK but are more people entering than leaving the region? The fact that people don’t want to leave seems like a good thing
We all should know this week. The US census releases the new Metro and county estimates for the last year. Stay tuned. I’m sure there will be headlines in the news.
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Old 04-17-2019, 07:08 AM
 
Location: Manchester
3,110 posts, read 2,915,413 times
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Quote:
Originally Posted by PGH423 View Post
OK but are more people entering than leaving the region? The fact that people don’t want to leave seems like a good thing
I think a lot of people are also "stuck" in the homes that they have if they are looking to upgrade in any sense. I love my house and could make a very nice profit off of it, but I would at least want a house of same quality finishes (so not an upgrade) but perhaps off street parking. There is nothing out there though that is not double the price of my house, so I have no options, unless I downgrade.
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Old 04-17-2019, 07:42 AM
 
1,952 posts, read 1,129,168 times
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It is good and bad. Good yes maybe less people are looking to move from the region. My wife being a FT Realtor not so great and also I think it relates to other posts on job wages also being a little stagnant. It has always seemed people in Pgh are more content with what they have than other regions I have lived so not wanting to always upgrade to a newer home makes sense but without growing wages people also can't really afford to upgrade.


I dont really want to move but even if I did couldnt, I could likely sell my home for a 30%+ profit but I want to stay in the area so I wouldnt get anything better elsewhere.
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