Unique Dormont infill housing and other updates (Erie, Lebanon: apartment complex, rental)

[Doowlle34]

I believe this property was one of two that Dormont considered rehabilitating under the PA Conservatorship Law. However, it was determined that the structure was beyond saving. I think I have heard from two folks who had toured the house, and they were both of the opinion that it was too far gone.

So, also as far as I konw, the general contractor here has a lot of experience in the South Hills and an excellent track record. Among other things, they were respondible for rehabbing the house that Dormont did end up addressing through the Conservatorship Law, which sold for over 300k, as well as for a 2018 rehab that sold for one of the highest selling prices ever for a single family home in Dormont.

[Doowlle34]

Just a few updates from Dormont:

1. The house that we have discussed in another thread is now under contract:

https://www.realtor.com/realestatean...-31542?view=qv

The price came down about 10 percent, but still seems like a success for the rehabber.

2. A large home, with many original features, was just listed about 10 days ago:

https://www.realtor.com/realestatean...-89332?view=qv

Frankly, I originally thought this was going to be a nice "test case" for a Dormont home that:

(1) sold for a premium after the 2012 assessments;

(2) was reassessed based on the post-2012 sales price, and had a fairly significant tax burden (over $8,000 for this house); and now

(3) was being re-sold with that (explicit) higher tax burden.

Again, I wondered whether seeing this explicit tax burden, and knowing that it would undoubtly go higher after another purchase, would cool interest in the property. Nevertheless, within 10 days of going on the market, this home is under contract. Perhaps the amount of "character" present in this listing drove a buyer, despite the likely tax burden.

[Doowlle34]

Not sure how the Coronavirus is affecting real estate in your neighborhood, but here in Dormont, this beautiful home just went on the market and was contingent in one day!

https://www.realtor.com/realestatean...6_M31008-78514

[Knepper3]

Yeah, real estate isn't closed. The way the market had been you really did not need open houses which is likely the main thing being cut out. I do think it will make the inventory event tighter though. People who want to buy for the most part still want to buy. Sellers though, unless they need to sell some people might opt wait not wanting to have random people walking through.


Of course all of this is still dependent on being able to close. Title companies are still working but municipalities are starting to stop inspections like occupancy and dye tests. Its not clear what will happen in those instances yet.

[svband76]

Originally Posted by Doowlle34

Not sure how the Coronavirus is affecting real estate in your neighborhood, but here in Dormont, this beautiful home just went on the market and was contingent in one day!

https://www.realtor.com/realestatean...6_M31008-78514

Yes this house just blew my mind. Lots of original character still remaining, which is great. Dormont homes are selling like nuts lately.

[qwerty01]

Very nice to see the Dormont property market doing well.

[Doowlle34]

Another quality rehab in Dormont -- went under contract in a few days:

https://www.realtor.com/realestatean...6_M49987-96250

We actually looked at the house next door to this one several years ago, but passed (in part) because this place was in such disrepair at the time. Belrose is a short, flat block, and since 2007, rehabbers have successfully rehabilitated every house on this block (about 5 - 6) that had been falling into serious disrepair. You can quibble with some of the finishes here, but the rehab market really saved these big, quality homes in Dormont.

In other news, the Arsenal Cider House location in Dormont is now open for "take-out" alcohol sales.

[svband76]

Originally Posted by Doowlle34

Another quality rehab in Dormont -- went under contract in a few days:

https://www.realtor.com/realestatean...6_M49987-96250

We actually looked at the house next door to this one several years ago, but passed (in part) because this place was in such disrepair at the time. Belrose is a short, flat block, and since 2007, rehabbers have successfully rehabilitated every house on this block (about 5 - 6) that had been falling into serious disrepair. You can quibble with some of the finishes here, but the rehab market really saved these big, quality homes in Dormont.

In other news, the Arsenal Cider House location in Dormont is now open for "take-out" alcohol sales.

I like that the woodwork was kept nice. The bathroom update is eh ... looks like a Holiday Inn bathroom, not in keeping with the vintage of the house. But not bad overall. And Arsenal Cider House that's great but there are enough places already to get drunk in Dormont. Wish one of the more nuisance places went away.

[szug-bot]

i agree - the wood is just beautiful.

and yeah, that bathroom sink/vanity whatever its called. I dont like the fixtures. but i think some people wouldnt be as picky about that while others prefer it to have a certain look.

its almost a shame to put furniture in some of those grand spaces.

that is an incredible amount of restoration happening in Dormont. wonderful!

[Copanut]

And with taxes just as high as Mt. Lebanon!!!

Actually, Lebo wins with 34.23 vs 34.20 mills. I am amazed the prices that Dormont is getting. Still can't understand why their township millage is 9.97, most townships/boros are in the 3-5 bracket.