Submitted by hambone012 t3_10crngk in pittsburgh
skfoto t1_j4hoevy wrote
I enjoy watching the market and I’ve noticed a few trends among the houses that sit on the market for a long time.
Much of the time they’re overpriced. Usually it’s a flip that someone is asking the moon for (many of these have been lingering since the summer when you could feasibly get that kind of money- right now you sure as hell can’t).
Other times it’s a house that’s otherwise nice and theoretically is worth the money, but has other things making it less desirable. For example this one is on a street with tons of traffic and people frequently flying past at 40+ (25 zone), plus the next door neighbors have a pair of beagles that are outside much of the day and are the loudest damn dogs I’ve ever heard (I can hear them half a mile away): https://redf.in/B5u4QF
Most of the rest are just crappy. They’re in that state where they need more work than most buyers are willing to put in but the asking price is too high for the flippers, and often on a rough looking street.
The falling-apart houses sitting on half-abandoned streets and selling for a 5-figure sum? Nobody has any trouble moving those. Even if the area sucks the house flippers are still interested.
A nice house at the right price still sells very fast here. Examples:
whyadamwhy t1_j4i9k89 wrote
Good breakdown. I bought my first house this past summer. I looked at houses in several of the aforementioned “North Side” neighborhoods. I ran into a lot of houses in that middle ground – needs a new roof, signs of recent water in the basement, floors or carpets wrecked by pets, really old furnace or other appliances, etc. – but it’s priced like it’s completely move-in ready. The traditional (non-flipper) sellers see the going rates and can’t understand why they’ve overpriced by 10-20%. I had bids rejected on a couple homes even though they didn’t sell anytime soon after my bid. If I have to spend $20k+ before I can even move in then I’m going to bid accordingly. Eventually got something that fit me really well.
hambone012 OP t1_j4hte2y wrote
Interesting break down. The last time I bought a house I bet most of redditors didn’t exist. I always thought Brighton heights was a desirable neighborhood for the north side. Interesting from someone who lives there.
skfoto t1_j4huo8j wrote
90% of BH is desirable. Most of the houses sell fast and everyone I interact with likes it here. There’s a very nice neighborhood community.
GlitteringCash6422 t1_j4l8zf1 wrote
The mentioned busy street is being redone this spring to slow down the speeders- planters, Chicanes, Traffic circle. Value add to the current/ future homeowners on the street.
skfoto t1_j4lko2k wrote
Can’t happen soon enough.
You got a source on that? I’d love to see the plans.
KentuckYSnow t1_j4lapx0 wrote
The beagles will eventually die, but you'll never get rid of the McKees rocks bridge. Location, location, location!
Even that nice one is on a corner. Unless they get a new fence half the neighborhood will either cut across their lawn or let their dogs shit and piss all over it.
Viewing a single comment thread. View all comments