House Buying Thread

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Mon Jun 05, 2023 4:02 pm

There are definitely homes out there below $200k in the GPA. I always browse the real estate transactions in the Pine Creek Journal we get every week. Pine, Ohio twp, Richland, Hampton....no way. But Shaler, West Deer, Russelton...there are plenty. And I'm sure they're not all garbage. Not move in ready but something to work with.

Morkle
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House Buying Thread

Postby Morkle » Mon Jun 05, 2023 4:07 pm

If you don't love the city, you're likely going to have a bad time finding a house surrounding the city in certain parts.

Our first house in Shaler was 99K like 15 years ago. It was our starter home, and we were making something like 70K Combined. It was ROUGH.

Now, in those same areas, you're seeing like near 200K for trash most of the time, or the neighborhood sucks.

You want a decent townhome in Ross/North Hills area? Get ready to pay like 275K+.

The real estate north of the city is absurd. I've been on the hunt for 4 bedroom homes, and I'm looking all the way up into freaking Evan's city because there's no house even under 400K that doesn't need substantial renovations.
Yeah, I mean that's the rub right? There is housing stock in Pittsburgh, you just got to go places like Bellvue, Shaler, Churchill, and Brookline if you want a decent place for an acceptable price.
If you are a family though why would you want to live in any of those places? The schools suck, and the taxes are high (at least in Churchill). Even if you wanted to resell in 10 years you limit your buying pool because of the school district and the area you are in.

Also I'd argue even as a single person paying 175k for a beat up house in some of those is actually worth it or not. I know the market is what it is, but I'd argue those are acceptable prices for the houses that are up for sale in those areas in reality.

We lived in Wilkins/Turtle Creek before we moved to Monroeville. We sold our house right when Covid was starting and our pool was def limited because the taxes were astronomical and the school district sucked (woodland hills). No family wanted to buy the house if they had kids and send them to crappy schools with high taxes.
The schools don't matter when you are getting a "starter" home. That's the whole point of a starter home.

High property taxes doesn't really mean anything when you're house is < 200K.

Really don't know what to tell you if you think those are bad neighborhoods.
So two things. The way prices are with houses today. If my 2 Bedroom house originally that I paid 99K for, is now pushing over estimated $200K, I'm likely moving into a shittier home in Shaler, or a row-house in Etna or something like that, and I was coming up in that original scenario.

Like I said, if you don't like the city, and you want to live to work in Pittsburgh, you're going to end up in some undesirable places, even with no kids. Or an hour outside of the city, and you're gonna need to get lucky to find a nice neighborhood PLUS school.

I LOVED my Shaler house, a few people on this board have been there - but it is not a place I'd want my children to go up. In today's world, if people get in on that house now, they might be stuck there for years. Surely there's nothing wrong with it, but the money then doesn't go near as far now, and that was our exact process when looking for a "starter" home.

We looked at houses in Belleview, and Shaler. Shaler was the acceptable choice because of schooling if it came down to that. We weren't interested in Avalon or whatever it was.

I don't know, what's an acceptable house in this day and age? Absolutely a 3 bedroom, because the money doesn't go as far and I'd plan for at least one kid if I had thought to the future. Even then, good luck getting a decent house in a decent place for 3 bedroom under $300K.

MrKennethTKangaroo
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House Buying Thread

Postby MrKennethTKangaroo » Mon Jun 05, 2023 4:07 pm

Woodland Hills is a real estate tax vortex. The schools are ass. a very large portion of the school district is located in some dumpy areas with very low values. That means r/e tax millage has ro be high to make up for those lower assessed values. The problem is that there are parts of the districts that aren't super expensive but get crushed by high real estate taxes due to the higher than normal millage. That's why there are $400k houses with like 15k in real estate taxes in Edgewood

All for a disastrous school district

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House Buying Thread

Postby count2infinity » Mon Jun 05, 2023 4:08 pm

Most people's "starter home" now is renting for years until they save up enough money to buy a house. Some people don't get past the renting for years stage...

Morkle
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House Buying Thread

Postby Morkle » Mon Jun 05, 2023 4:09 pm

And nitpicking aside, yes you can find 3 bedroom houses under $300K that's not to say you can't. But I'm talking decent school, decent area, actual location of the house. That's narrowing it down considerably.

Now lower that limit to under $250K - exactly one house in Allison Park/Shaler.

https://www.zillow.com/shaler-township- ... 22%3A13%7D

Troy Loney
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House Buying Thread

Postby Troy Loney » Mon Jun 05, 2023 4:11 pm


The house I grew up in and moved out of when I was 8 was sold to the current owners (by my parents) for $190k in 1998.

Zillow's current estimate for the house is like... $450k. Absolutely bonkers. It was a decent house but unless the current owners opened it up a little, the family room, dining room, and living room are all small for that type of money.
Indeed, there are neighborhoods that are just insane, there are probably like 5 mt lebanons in the north hills. that was the place everyone moved to 10-15 years ago cause it had the best commute. So now it's years later, all that money has built up it's own economy and those folks are all wealthier with their boost in home value.

Just checked the value of my house growing up in bethel, 2k+ sq ft, 5 bedrooms for 315K. Tells me there are plenty of decent sized homes at reasonable prices there.

I think i would just think creatively about neighborhoods and don't prioritize location if you don't have to. Talk to the realtors and get an idea on what the movement in the market is. I know people that moved to Spring Hill years ago and got ahead of that mini boom. I assume you're a north hills guy, so I can't really speak to those neighborhoods at all. But if we were talking south hills, i'd be thinking somewhere like Munhall. Not sure what the equivalents are north.

nocera
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House Buying Thread

Postby nocera » Mon Jun 05, 2023 4:12 pm

I'm in the city and the lowest price in my zip code is 198k and holy hell it's a shithole. My house is currently estimated about 140k higher than what we bought it for on redfin.

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Mon Jun 05, 2023 4:13 pm

Woodland Hills is a real estate tax vortex. The schools are ass. a very large portion of the school district is located in some dumpy areas with very low values. That means r/e tax millage has ro be high to make up for those lower assessed values. The problem is that there are parts of the districts that aren't super expensive but get crushed by high real estate taxes due to the higher than normal millage. That's why there are $400k houses with like 15k in real estate taxes in Edgewood

All for a disastrous school district
The property taxes in PA are an abomination. That's being generous

Morkle
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House Buying Thread

Postby Morkle » Mon Jun 05, 2023 4:13 pm

There are 6 in Bethel Park that I would consider a Starter Home for me today. Which is just 3 bedroom, 1.5+ bath up to $250K.

https://www.zillow.com/bethel-park-pa/? ... A%7B%7D%7D

Now couple that in with likely the other 234234234 people looking for a house.

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Mon Jun 05, 2023 4:16 pm

I was looking through Bethel Park homes as that is where I grew up and also where my mom grew up and lives now. 3 different houses all around $250k. Kind of strange because while it was never the richest part of the suburbs, it was a tier below Mt Lebo/USC/Peters. Seems like things have flatlined there.

Morkle
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House Buying Thread

Postby Morkle » Mon Jun 05, 2023 4:18 pm

I think the insanity is that there are still houses being bought up like crazy. Even up north here, they are filling houses in, where ever they can, and are pushing $700K+, which is absurd.

MrKennethTKangaroo
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House Buying Thread

Postby MrKennethTKangaroo » Mon Jun 05, 2023 4:41 pm

So how much should it cost to live in a comfortable Pittsburgh suburb? Right now, a $250k house with 10 percent down payment , 6.5 percent mortgage and pgh millage rates for real estate taxes clocks in at $2000 per month (including insurance)

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Mon Jun 05, 2023 4:43 pm

I think the original point was that for home buyers today, you simply aren't going to get the value (price + location) that the rest of us benefited from years ago.
This is the short answer yes haha.
This i agree with, that 200 price point used to probably be 125 10 years ago.

The house I grew up in and moved out of when I was 8 was sold to the current owners (by my parents) for $190k in 1998.

Zillow's current estimate for the house is like... $450k. Absolutely bonkers. It was a decent house but unless the current owners opened it up a little, the family room, dining room, and living room are all small for that type of money.
That's a 3.5% increase in price per year. Not bonkers.

Morkle
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House Buying Thread

Postby Morkle » Mon Jun 05, 2023 4:44 pm

Which is not starter home, or career friendly for the most part lol.

tifosi77
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House Buying Thread

Postby tifosi77 » Mon Jun 05, 2023 4:57 pm

The Redfin estimate on our house has gone up roughly 35+% since we closed in the spring of 2019. But that number has been more or less static for about a year now, give or take, and most of the weekly updates we get from the site are "Recent price reductions near you."

Still, could be worse. Could be Cleveland.

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Mon Jun 05, 2023 5:00 pm

Which is not starter home, or career friendly for the most part lol.
That's why I'm asking. What should the price for a house and monthly payment be for a starter house in a decent pgh suburb?

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Mon Jun 05, 2023 5:01 pm

And should a starter house appreciate in value?

Morkle
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Postby Morkle » Mon Jun 05, 2023 6:30 pm

Which is not starter home, or career friendly for the most part lol.
That's why I'm asking. What should the price for a house and monthly payment be for a starter house in a decent pgh suburb?
When we lived in Shaler we paid like $750 something in mortgage.

I would think “starter home” would be anywhere from 700-1000 month?

Not really a good judge. But I’d start there I guess?

If you’re thinking that $50k in a row house in sharpsburg is starter home, I’m out and I’ll go leave back in Greensburg lol.

Morkle
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House Buying Thread

Postby Morkle » Mon Jun 05, 2023 6:30 pm

And should a starter house appreciate in value?
I would figure, because you’re gonna buy the house and upgrade it to suit your needs.

NTP66
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Postby NTP66 » Mon Jun 05, 2023 6:40 pm

If the current market is any indication, you probably don’t need to actually upgrade anything to build equity. Prices continue to rise.

MR25
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Postby MR25 » Mon Jun 05, 2023 6:42 pm

I mean, there's appreciation, then there's growth to the moon for stuff that should be a good 30k cheaper than list price.

It's just annoying. Things are probably never coming back down, and I'm likely going to be stuck paying rent til I die.

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Postby NTP66 » Mon Jun 05, 2023 7:55 pm

I mean, there's appreciation, then there's growth to the moon for stuff that should be a good 30k cheaper than list price.

It's just annoying. Things are probably never coming back down, and I'm likely going to be stuck paying rent til I die.
Home Depot’s got you covered, mate.

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Postby Shyster » Tue Jun 06, 2023 2:28 am

I paid $135k for my house in Ross in 2007. Zillow now estimates it at $260k. I am precisely one of those people who bought in the North Hills 10–15 years ago because it had a good commute to my office (door to door in about 25 minutes when it's not rush hour).

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Postby Sam's Drunk Dog » Tue Jun 06, 2023 12:05 pm

A Facebook friend posted this recently for a house in Dormont.
https://www.howardhanna.com/Property/De ... er=1608901

Morkle
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Postby Morkle » Tue Jun 06, 2023 12:17 pm

Sure, that could be a suitable starter home. My immediate thought is that it was sold in 2011, for $46K. So how much of the work was done into it up to code, and are there any potential issues, but you don't get any more starter than that.

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