Housing crisis in Pittsburgh? Dont think so (Warren, Bradford: wood floors, for sale)

[I_Like_Spam]

Looking over the real estate listings online, there are more than 500 homes priced under 100 large.

Only a few are listed in truly distressed areas like Hazelwood or Homewood Brushton, most are in regular working stiff areas which are perfectly safe like Westwood or Lincoln Place. The number goes up higher if you include neighboring, close suburban communities.

Of course, if you turn your nose up at mid-20th century architecture, areas with strip malls and Eat n Park instead of boutiques and fancy eateries attracting the young professional crowd, your pickings will be a lot slimmer.

There really isn't a housing crisis, just a shortage of properties in hot locations popularly priced and affordable for less affluent folks in the community.

If you're cool with a short drive into the city, you can drive from even the "far" areas of the city like Summer Hill or Oakwood to town in 10 minutes if you want to go a restaurant or club.

[Moby Hick]

Everybody bought ten years ago or more, right?

[Goodjules]

I_Like_Spam, you got it right. I paid a little over $150K in Crafton for a 2700sf home with awesome original stained glass windows and incredible woodwork. It needed some work, but was not a dump. All my neighbors are professionals. The schools are good. And I'm just a few miles from the Pittsburgh city limit and an easy drive to the airport. The fact that a similar home in Squirrel Hill or Shadyside would cost at least double does not mean there's a housing crisis. Most cities have popular neighborhoods that are more expensive and/or rapidly appreciating than other parts of town. It's the market in action. There are two homes for sale on my block that are overpriced and need a lot of work. They have been sitting on the market for months. Well priced homes sell quickly here. Again, a good sign of a stable market.

I still post on many SF Bay Area sites and tonight I saw a posting by a realtor who just sold a small house on Alemany Blvd in SF for $780,000. Alemany is a major thoroughfare with lots of cars speeding by. The area is in the un-trendy southwestern side of town. Not too long ago it had lots of drug activity and gang violence which has lessened somewhat thanks to the housing boom. In other words, it's a nothing special little house on a nothing special street in an iffy neighborhood and it sold for a little south of a million bucks. When homes in the worst neighborhoods here in Pittsburgh start selling for well over $100K then I might concede that there's a teeny-tiny problem. But even then it would be more of an indication that the neighborhood had stabilized. It isn't a crisis until most middle income people can't even afford the least expensive house in the worst neighborhood. I'm not saying that Pittsburgh shouldn't guard against it happening, but really, there are many areas around here that are still declining in value. A turnaround on the scale needed to create a crisis is unlikely at best. None of my friends or family could afford to buy or rent their homes in the Bay Area if they had to pay today's prices. I would be willing to bet this is rarely the case with most middle class working people here in Pittsburgh in all but the trendiest areas that have seen more rapid appreciation.

Sorry to rant and rave, but I had to leave the city where I was born, a city that I loved with all my heart because I no longer had a mortgage from 1987 and simply could not afford today's prices - especially if I plan to retire when I'm 65.

Pittsburgh is no longer a washed up steel town with a population exodus and the downward spiral in home prices that go along with it. It's a mid-sized city that's doing ok with decent or better appreciation in housing prices in many parts of town. The result is you have to go to sketchier neighborhoods to get dirt cheap prices. And wasn't that always the case? I mean Lawrenceville was dirt cheap when most people wouldn't have felt safe there.

Enough said, good night.

[eschaton]

Some of my favorite cheapies in Pittsburgh at the moment.

One of those rare Uptown houses is on the market. Actually in good shape too.

Perfectly nice house in Troy Hill with original wood floors.

This Spring Hill house has incredible potential. And a lot of property.

I can't say this Spring Garden house is incredible overall, but the stairwell alone just about cancels the rest out.

Edit: And in the $100-$150 range there's this, this, this, this, and this.

If you buy for house, not for neighborhood, you still have plenty of options available no matter what style you like.

[Goodjules]

I lied about saying Good Night earlier.

Here's one in Crafton Heights. I'm afraid I don't know the area well enough to know if it's in the "bad" part. I don't think it is.

[Goodjules]

Originally Posted by eschaton

Some of my favorite cheapies in Pittsburgh at the moment.

One of those rare Uptown houses is on the market. Actually in good shape too.

Perfectly nice house in Troy Hill with original wood floors.

This Spring Hill house has incredible potential. And a lot of property.

I can't say this Spring Garden house is incredible overall, but the stairwell alone just about cancels the rest out.

Edit: And in the $100-$150 range there's this, this, this, this, and this.

If you buy for house, not for neighborhood, you still have plenty of options available no matter what style you like.

Wow! Houses like those are why I moved here.

[eschaton]

Originally Posted by Goodjules

Wow! Houses like those are why I moved here.

I know I've said it before, but minus the big front lawn, this is basically my dream house. I could afford it easily as well. It's a shame my wife is dead-set against Brighton Heights.

[jay5835]

Originally Posted by eschaton

I know I've said it before, but minus the big front lawn, this is basically my dream house. I could afford it easily as well. It's a shame my wife is dead-set against Brighton Heights.

Isn't Mme. Eschaton an architect? Couldn't you bring her over for a stealth visit--tell her you're watering plants for someone at work, and ask her to come with? How could someone -- especially someone who purports to love houses -- not love this one?

There's only one thing I don't like about it. Can anyone guess what it is?

[Goodjules]

I bought my house in Dec 2012. There's a similar house for sale near me. it needs a lot of work and it's priced at $189,000. It has been sitting on the market for months. I think it needs to drop by at least $30k for there to be any activity.

[Goodjules]

Originally Posted by eschaton

I know I've said it before, but minus the big front lawn, this is basically my dream house. I could afford it easily as well. It's a shame my wife is dead-set against Brighton Heights.

If memory serves that house was on the market when I was looking at the end of 2012. I tried to see it, but the owner had the flu and wouldn't show it. I love that house too! What does your wife have against Brighton Heights? It was one of the many affordable neighborhoods where I looked at homes.