Why is Pittsburgh so cheap? (Ross Township, Baldwin: wood floors, 2009, rent)

[pittsteelerfan]

Originally Posted by Mr. Mon

That's not what I was saying at all.

Anything under $100,000 would likely need renovations or updates. However, since updated single family homes in those neighborhoods can sell for $200,000+ then anything short of a gut job on a larger house would get a very nice return on investment.

As for convenience, that mile from Morningside to Shadyside, or Greenfield to Squirrel Hill sure is mighty inconvenient.

Houses in Morningside selling for 200K + ? lol What % of homes there command that kind of money? That's more than double what the average home is worth there. That mile your talking about, what end of Morningside did you clock that?

[Drover]

People started noticing Morgningside about 3 or 4 years ago and home prices there shot up pretty quickly. That said, the only houses in Morningside commanding 200K are those that are already repaired, updated, in move-in condition and with strong curb appeal. Still beats the $125K that same house would have commanded just a few years ago.

Same thing happened in Point Breeze. A friend of my ex bought a house on the 600 block of Hastings in 1999 for $60K. They could get easily double that today even if they did nothing to it except routine maintenance.

[mwkurt]

Thanks for replying.

I wase with so thinking that at 30 miles or so away from Pittsburgh, I wouldn't have to deal with the unsavory elements of society. From reading through the various threads here, though it seems like there are some fairly nice neighborhoods closer in.

My price range....well that seems to drop every day here in Florida since the value of my home continually declines (

We were thinking something around the $100,000 area would be doable. Of course that was from looking at Realtor.com and falling in love with some of the homes that we've seen along with the prices. Now though I find that most of those homes are in bad parts of town.

Any ideas?
Thanks,
Mark

[dugdogmaster]

Originally Posted by mwkurt

From reading through the various threads here, though it seems like there are some fairly nice neighborhoods closer in.


Now though I find that most of those homes are in bad parts of town.

There's fairly nice and excellent neighborhoods right smack dab in the middle of the city.

I don't get this forum at all..........

[Drover]

Originally Posted by dugdogmaster

There's fairly nice and excellent neighborhoods right smack dab in the middle of the city.

I don't get this forum at all..........

Did you even read this guy's posts? He first singled out the South Hills area (read: outside the city), then expanded it to the entire Pittsburgh region (read: anywhere in the area inclusive of city or suburbs), then mentioned that that school quality and affordability ($100K range) are a factor. Nobody even got the chance to respond to him after he ruled the city in because we've been trying to hone his criteria before you chimed in with your judgmental little post.

So, now that we know he's looking for good schools within a 30 mile radius of the city center at $100K price point, any neighborhoods "right smack dab in the middle of the city" that come to mind?

[pittsteelerfan]

Originally Posted by mwkurt

Thanks for replying.

I wase with so thinking that at 30 miles or so away from Pittsburgh, I wouldn't have to deal with the unsavory elements of society. From reading through the various threads here, though it seems like there are some fairly nice neighborhoods closer in.

My price range....well that seems to drop every day here in Florida since the value of my home continually declines (

We were thinking something around the $100,000 area would be doable. Of course that was from looking at Realtor.com and falling in love with some of the homes that we've seen along with the prices. Now though I find that most of those homes are in bad parts of town.

Any ideas?
Thanks,
Mark

You ain't going to get much of ANYTHING for a 100K in the burbs. Whatever you do get, will need COMPLETELY updated. I'm talking about the North Hills suburbs, not sure about the South. Not to mention your property taxes and school taxes will be probably, atleast 3 grand a year.

Maybe the prices have dropped in Pittsburgh, but even years ago, 100k wasn't really enough. More like a starter home that would need lots of updates. I'm not saying you can't find something in that price range, but it will probably be small and dingy looking. I'm talking in Shaler, Hampton, Ross twnsp, etc.

[pman]

Originally Posted by COPANUT

If you choose to live in Squirrel Hill, Shadyside, or the Oakland area, yes the homes are quite expensive. But you can still purchase a nice home in areas like Greentree City, Morningside, Greenfield, and Swisshelm Park for under 100K. The taxes will be in the 2900 range which is affordable. I will agree that the 3% wage tax is a killer. That's what Pgh needs to get under control before I'd consider moving there.

The wage+property is a killer. total tax burden is key. I have family in Montgomery County, PA (just north of Philly) and their taxes are now $6k annually on a $280k twin. It's actually about a wash with the taxes they'd pay if they owned a home in the city (Philly's wage tax is 3.93%). They also brought to light a big problem with property taxes. assessments are being raised now resulting in large tax hikes yet their incomes are down or stagnant due to the recession (others have been laid off). Philly like Pitt, hasn't suffered like Florida or certain areas of California, but still. this is happening all over the state (and probably the country). I also have family in the Lancaster County area who complain of this (though Lancaster-York-Harrisburg is faring the best so far).
Question: are there any things to know about Pitt property tax assessments? are they market based?
Pittsburgh is not trendy yet but word is getting out that it may no longer be in decline.

[onwardandupward]

Actually, I'm kind of surprised, but I'm seeing some small cape cod style houses in Blawnox and Indiana Township on the multi-list that are in the $100k range - those are in Fox Chapel school district, one of the best in Pgh. They don't look terrible, either, and you know, houses can be updated over time - most people don't live in a completely updated house. People live in houses with older windows, out-of-date bathrooms and kitchens all the time, and it doesn't kill them

[pittsteelerfan]

Originally Posted by onwardandupward

Actually, I'm kind of surprised, but I'm seeing some small cape cod style houses in Blawnox and Indiana Township on the multi-list that are in the $100k range - those are in Fox Chapel school district, one of the best in Pgh. They don't look terrible, either, and you know, houses can be updated over time - most people don't live in a completely updated house. People live in houses with older windows, out-of-date bathrooms and kitchens all the time, and it doesn't kill them

I'm not real familiar with Blawnox, from what I remember (correct me if I'm wrong here) though (I'm talking 20 years ago or better), it was kinda of a scummy area. And like I said before, I'm not saying you CAN'T find something in that price range, but you ain't going to get too much for it. Whether it's small sq ft, major repairs and updates, no curb appeal, that is the very bottom of the entry level price range for the burbs.

"Handy man specials" ain't bad if you're a 'handy man', other wise, you'll end up spending a small fortune on updating. Dropping 10 grand on a bathroom, is like dropping you know what in the bathroom toilet, ain't hard to do. Especially if you drank alot of Iron City the night before! lol

Spending 150k on a house will give you alot more options, in better areas of the townships, and the homes should have alot more curb appeal.

[onwardandupward]

Originally Posted by pittsteelerfan

I'm not real familiar with Blawnox, from what I remember (correct me if I'm wrong here) though (I'm talking 20 years ago or better), it was kinda of a scummy area..

Blawnox is definitely NOT a scummy area. It's a small town on the Allegheny River - lots of antique stores, kind of quaint, quite safe, and as I said, in the Fox Chapel school district.

Originally Posted by pittsteelerfan

And like I said before, I'm not saying you CAN'T find something in that price range, but you ain't going to get too much for it.

Everything is relative. In a good school district in D.C., these same small houses would go for $400k.

Originally Posted by pittsteelerfan

"Handy man specials" ain't bad if you're a 'handy man', other wise, you'll end up spending a small fortune on updating. Dropping 10 grand on a bathroom, is like dropping you know what in the bathroom toilet, ain't hard to do.

I live in a 100+ year old house, with gorgeous pocket doors, fireplaces and hardwood floors. I could easily drop $20k on re-doing my ancient bathroom (if I had it -lol), but you know what? It works. Is it pretty? It's pretty ugly - but it works.

Originally Posted by pittsteelerfan

Spending 150k on a house will give you alot more options, in better areas of the townships, and the homes should have alot more curb appeal.

Agreed. But not everyone has $150k. A $100k mortgage even with taxes would cost less than a 2 bedroom apartment in a nice area. So getting even a small 2/3 bedroom house in a nice area could be a smarter idea than paying rent.