Housing Prices on the rise in city core.. AGAIN (Pittsburgh: 2015, rentals)

[fleetiebelle]

Originally Posted by eschaton

Beechview will get much better once this opens.

And also: $600,000 grant will help to revitalize Beechview's Broadway Avenue | Pittsburgh Post-Gazette

The Pennsylvania Commonwealth Financing Authority has awarded a $600,000 grant for a revitalization project in Beechview, city Councilwoman Natalia Rudiak and state Sen. Wayne Fontana announced Friday.

The grant is sponsored by the Pennsylvania Department of Community and Economic Development. It’s aimed to improve safety and accessibility for pedestrians, transit riders, cyclists and drivers, while beautifying Broadway Avenue.

[RogersParkTransplant]

Originally Posted by sky329

I like Troy Hill a tiny bit but would have to have a view if I plan on investing a lot in it the same goes for Spring Hill and Brighton Heights I just don't like that area not much going on

Try the front slopes around Itin and Vista streets on the Northside. The lower slopes of Spring Hill where it starts hitting Spring Garden are still really cheap, but so close to the Strip district and about to improve now that East Deutschtown is finally seeing some investment. Wigle Barrelhouse and Neu Kirche are making a huge difference, and once the new coffee shop opens on Chestnut the area is going to start changing even more rapidly.

[UKyank]

I don't think most flippers of the type of houses in the areas you're describing rely on regular real estate listings. Maybe they troll the obituaries? Either way I've seen quite a few successful flips in my neighborhood of homes purchased cheap (local deed transfers are printed in the neighborhood newspaper) that I know we're never listed on the market.

[Tinare]

A lot of flippers work directly with agents who know what they are looking for and so they basically do the legwork for them. When selling my mom's house the agent I worked with had a connection with some buyers and we came to a deal that was satisfactory to us both pretty quickly. The house hit the listings, but we were under contract in 2 days. And that was in a not hot neighborhood.

[Merge]

Originally Posted by eschaton

You'd think so, but no - my understanding is that Sharpsburg is getting worse, with a lot of the lowlives who were priced out of Lawrenceville moving there.

I can assure you from firsthand experience that this is not the case. At all.

[eschaton]

Originally Posted by Merge

I can assure you from firsthand experience that this is not the case. At all.

Glad to hear it.

[Merge]

Originally Posted by eschaton

Glad to hear it.

I think there was some migration from L-Ville, but as far as "low-lifes" are concerned... I would say that peaked in 2008-2010. There has definitely been a younger, more professional demographic showing up over the last several years... as millennials move from the city proper seeking a better school district for their kids.

Having said that, I expect that the next couple years will bring a dramatic shift as higher-end apartments are constructed and inhabited along the riverfront (ground has been broken!) and the riverfront trail is extended through Etna to Sharpsburg.

[jea6321]

Beechview and Brookline are definitely already on the radar. Lots of younger professionals have been moving into the areas over the past couple years. Atlas development is doing a lot of good in beechview and will most likely continue for some time to come.

as for the back side of mt washington, it has definitely went from being rough and undesirable, to stable. Its not trendy per se, but prices have risen in the past 5 years and there have been a lot of flips happening.

for someone that wants to be an owner occupant flipper ( like the OP says) this is an awesome opportunity. 283 Paul St, Pittsburgh, PA 15211 | MLS #1229299 | Zillow

must be owner occupied. Pathway beside the house goes right to the T station. If it wasnt restricted to owner occupants I would have bought it.

[Goodjules]

Originally Posted by fleetiebelle

But aren't these exactly the neighborhoods where young professionals are moving in as the East end and the South Side get too expensive? If you're looking at Dormont, I can't imagine why you wouldn't also look at Brookline and Beechview. And Greenfield is where the people priced out of Squirrel Hill are going.

Brookline seems poised to take off. Not that it's bad by any measure now. I have friends who bought there recently and love it. Brookline Blvd is a stable retail corridor. The T is nearby. Nice houses. All the elements that would draw people who are priced out of the trendier neighborhoods. Beechview has farther to go, but as Brookline prices increase, it might be next in line.

[eschaton]

Originally Posted by jea6321

as for the back side of mt washington, it has definitely went from being rough and undesirable, to stable. Its not trendy per se, but prices have risen in the past 5 years and there have been a lot of flips happening.

I think that to the extent that the East Warrington corridor continues to improve, it probably helps the back side of Mount Washington further. The housing stock in that area was built much better than Allentown - hell, much better than the more desirable areas of Mount Washington. More brick houses, with more original features retained.

Originally Posted by Goodjules

Brookline seems poised to take off. Not that it's bad by any measure now. I have friends who bought there recently and love it. Brookline Blvd is a stable retail corridor. The T is nearby. Nice houses. All the elements that would draw people who are priced out of the trendier neighborhoods. Beechview has farther to go, but as Brookline prices increase, it might be next in line.

I actually think Beechview has more upside potential than Brookline. The business district is smaller, but the housing stock is overall better, and the neighborhood a bit more urban. Add to this of course being right on the T line (allowing quick access to Downtown, Dormont, and Mount Lebanon, and the smaller nature of the business district becomes less important.

The problem with both neighborhoods is they are large, meaning it's hard to generalize. Sections of them are more walkable and urban, and sections are totally suburban in nature. Thus they could easily develop in the "patchy" manner we've seen in Mount Washington, at least for some time to come.