Are houses selling these days? (Pittsburgh, Washington: for sale, real estate, rental)

[Mr. Peepers]

I'll be moving to Pittsburgh in June.

Going through real estate listings, it seems alot of houses have been on the market for over a year. Many are already empty.

Makes me wonder.

Why? (any ideas)

For those that already live in Pittsburgh and burbs, are houses moving in your area? I get the impression they're not.

I haven't seen notable reductions on houses sitting for a year either.

We're looking into Washington, Beaver or Butler counties. Property taxes are too costly in Allegheny.

Even in those counties, property taxes are 2x what we're used to for the same value of home.

[groundzero2121]

houses arent selling because we are in a 18 month recession right now....if you think pittsburgh's housing is bad, look out west or down south. I do drywall work on residential and commercial, new houses built all the time, havent missed a day of work, but im the best soooo

[ElliottW]

As the previous person said, this area's been in a pretty serious recession for over a year, which is almost certainly the reason for what you're describing. I have a friend who's been trying to sell since last May... he's attracted no serious prospects whatsoever. I don't know when this might turn around.

Glad I'm retired!

[Copanut]

If you're only staying in Pittsburgh for a short time I would not recommend purchasing a home. You might get a great rental deal on a house that can't sell. But, if you're looking to buy, go after the vacant ones.

[Mr. Peepers]

Originally Posted by ElliottW

As the previous person said, this area's been in a pretty serious recession for over a year, which is almost certainly the reason for what you're describing. I have a friend who's been trying to sell since last May... he's attracted no serious prospects whatsoever. I don't know when this might turn around.

Glad I'm retired!

You'd think that prices would come down because a house has been on the market for a year, but I'm just not seeing this. Are people in denial or do they refuse to "lose" too much. I get the impression that discounts could be afforded by the seller, but the sellers are standing firm. I know that I will likely lose on my own home sale as I will have to drop to move it. I have little choice as I'm being relocated.

[Gimbler]

I disagree that the Pittsburgh housing market is being impacted by the current recession. If it is, it's only very marginally. Pittsburgh never participated in the "boom" and the housing market sucked here two years ago as bad as it sucks now.

I think there's a glut of houses on the market because more people leave than come. The taxes are high so I don't know why sellers don't drop their prices, make the sale and get on with their lives. But, many of them don't. And yes - I think it is denial.

On the other hand - houses that are priced right and minimally staged do seem to sell in a reasonable amount of time. What we found when we were house hunting is that very few sellers made any effort to clean up, let alone stage their homes for sale. Hell, we felt lucky if they didn't hang around watching TV while we were trying to tour their home! Now saying which came first - the house not selling or attitude that prevents the sale is a tough one - like the chicken or the egg.

I do know that if I ever get transferred again I'm going to need a lot more notice than before. We sold our house in Delaware in the dead of winter within 5 days of it going on the market. If I could get out of this house in six months and not lose my shirt it would be a freakin' Pittsburgh miracle.

[Mr. Peepers]

Originally Posted by Gimbler

I disagree that the Pittsburgh housing market is being impacted by the current recession. If it is, it's only very marginally. Pittsburgh never participated in the "boom" and the housing market sucked here two years ago as bad as it sucks now.

I think there's a glut of houses on the market because more people leave than come. The taxes are high so I don't know why sellers don't drop their prices, make the sale and get on with their lives. But, many of them don't. And yes - I think it is denial.

On the other hand - houses that are priced right and minimally staged do seem to sell in a reasonable amount of time. What we found when we were house hunting is that very few sellers made any effort to clean up, let alone stage their homes for sale. Hell, we felt lucky if they didn't hang around watching TV while we were trying to tour their home! Now saying which came first - the house not selling or attitude that prevents the sale is a tough one - like the chicken or the egg.

I do know that if I ever get transferred again I'm going to need a lot more notice than before. We sold our house in Delaware in the dead of winter within 5 days of it going on the market. If I could get out of this house in six months and not lose my shirt it would be a freakin' Pittsburgh miracle.

My point exactly. I'll need to get a "deal" in order to make sure that it will move if I ever have to be relocated again. I can't over pay my next house for that reason.

Where I'm coming from - the market is the same, not the biggest price increases compared to other areas. However, people here are still expecting (and getting) sizable discounts.

Like one member said, I should concentrate on empty houses or extremely motivated sellers only.

[sr1234]

Originally Posted by Gimbler

I think there's a glut of houses on the market because more people leave than come. The taxes are high so I don't know why sellers don't drop their prices, make the sale and get on with their lives. But, many of them don't. And yes - I think it is denial.

I think you are right. Census figures released yesterday show that Allegheny County lost over 3,000 people last year. And when you talk to real estate agents they say the market is down anywhere from 20-40% from last year.