Pittsburgh real estate update (Liberty, Oakland: rental market, appliances, bankruptcy)

[BUILD PENN SQUARE]

you want original woodwork - you got it

now give me $4 million dollars



https://www.realtor.com/realestatean...6_M32510-61821

[BUILD PENN SQUARE]

and they say time travel isn't real

[BUILD PENN SQUARE]

$1.4 million for a new 4 bedroom home on black street which will not stand alone as pictured





https://www.realtor.com/realestatean...6_M98008-15317

[svband76]

Wow, butt ugly, wildly overpriced and noisy to boot. I pity the fool that falls for this. How this agent can list this in good conscience is beyond me.

[guy2073]

Originally Posted by svband76

Wow, butt ugly, wildly overpriced and noisy to boot. I pity the fool that falls for this. How this agent can list this in good conscience is beyond me.

Unless it has combined sewers in that area the basement garage is just asking for warer issues.

[gg]

Originally Posted by svband76

Wow, butt ugly, wildly overpriced and noisy to boot. I pity the fool that falls for this. How this agent can list this in good conscience is beyond me.

The usual buyers are the rich progressives.

[jea6321]

Originally Posted by svband76

Wow, butt ugly, wildly overpriced and noisy to boot. I pity the fool that falls for this. How this agent can list this in good conscience is beyond me.

Ive said it in other posts but again, around 300 per sq ft is what decent quality new construction is going for. this house will be just under 4000 sq ft, so its not crazy for it to be north of 1M. 1.4 seems a bit stretched, but I dont know the extent of the luxury add ons it will have.

For the location, I think its a hard sell. However, there isn't a lot of new construction single detached homes to choose from in the city.

as for the agent comment, they work for the seller and dont get to dictate the list price. They can suggest and show data for whatever they believe is the correct list, but at the end of the day the seller/developer gets the final say.

[gg]

Originally Posted by jea6321

For the location, I think it’s a hard sell. However, there isn't a lot of new construction single detached homes to choose from in the city.

Start gentrifying the Hill District. It is like developing farmland at this point.

They should put housing on the land where Club One used to be in East Liberty.

[jea6321]

Originally Posted by gg

Start gentrifying the Hill District. It is like developing farmland at this point.

They should put housing on the land where Club One used to be in East Liberty.

I personally will stick with the age old adage of Location location location. Thats the one thing that you should never compromise. Sure its possible that an area turns around and you make a killing, but its a lot better of a chance to just stick with locations that already have a good market. I am on the hunt for tear down properties in dense locations, with alley access or ability to add parking to build new.

as for the Hill, the most recent things built are a 14 unit modern townhouse development on Burrows st ( technically west Oakland but backs right up to oak hill apartments). First 8 units were finished and closed between March-june. Next 6 are set to be finished and on market shortly after the first of the year. Id love to see more developments happen further into the Hill. These all sold from mid 500's to low 600's. Most buyers were med or tech professionals, so there is a market for it, just not as robust as other proven locations.

[wpipkins2]

Construction Updates

FNB construction update by William Pipkins, on Flickr[/IMG]

FNB construction update by William Pipkins, on Flickr[/IMG]

FNB construction update by William Pipkins, on Flickr[/IMG]

FNB construction update by William Pipkins, on Flickr[/IMG]

FNB construction update by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]

Pittsburgh development updates by William Pipkins, on Flickr[/IMG]