Pittsburgh real estate update (Washington, Lincoln: suites, nicest, kitchen)

[BUILD PENN SQUARE]

Originally Posted by BUILD PENN SQUARE

office space and office buildings are a thing of the past - here in pittsburgh and everywhere

Colin McNickle: Pittsburgh’s still stubbornly high office vacancy rates

https://triblive.com/opinion/colin-m...vacancy-rates/

"Pittsburgh’s top-notch Downtown office vacancy rate remained stubbornly high at the end of 2022. And there are serious questions whether it will see much in the way of recovery in 2023.

As 2022 closed, high vacancy rates continued plaguing office markets across the United States. In the final quarter of 2022, vacancy, for all classes and markets, came in at 19.6%, just one-tenth of a percent better than in 2021.

The Pittsburgh office market was no exception to this rule as the vacancy rate for all classes and markets in the final quarter of 2022 was 21.3%, which was four-tenths of a percent higher than it was at the same time in 2021 (20.9%)."

[PghYinzer]

Originally Posted by SteelCityRising

I feel very fortunate. My fiancé (will be husband in a few weeks) and I bought a 2-BR/1-BA alley rowhome built in the late-1880's or early-1890's on the North Side in March 2020 for $54,900. It is about 1,100 square feet, and there is one attic room with a very sloped roof we only really use for storage/home office (when my fiancé works from home).

It is very minimalist-friendly. It has a flat tiny yard that is fenced, and we have a 1-car detached garage (tiny---but perfect for my Honda Fit). My fiancé doesn't drive, and there is a bus stop right around the corner for the 17 or bus stops for the 13 and 16 are each 10 minutes away on foot.

My home doesn't have things like stained glass windows or historic transoms or natural woodwork or pocket doors or anything (although it does have a lot of exposed interior brick), so my home wouldn't personally be up your alley (pun intended).

I will keep a look out for you, but anything that you will like in Lower Manchester, Allegheny West, East Allegheny, or the Central North Side/Mexican War Streets is either going to be grossly overpriced, snatched up quickly, or not have any off-street parking.

Congrats on the upcoming nuptials SCR! You've been thru some stuff, so you def deserve the happiness.


I inquired about the overpriced one in Manchester yesterday and they are turning down any offer under asking. The closest offer they had so far was 50k under. They said that they have an appraisal for 5% more than it is listed for (hmmmm) so they are sticking to it, even after 6 months on the market. It's not meant to be.

Ill keep looking, and since I am currently not in a precarious housing situation I try to keep it in perspective that its not a big deal. My target area is so small (basically only lower Manchester as I want to move closer to the people I hang out with) and has so little turnover this is expected, so if it is meant to be it will happen.

[BUILD PENN SQUARE]

[gg]

Originally Posted by PghYinzer

I inquired about the overpriced one in Manchester yesterday and they are turning down any offer under asking. The closest offer they had so far was 50k under. They said that they have an appraisal for 5% more than it is listed for (hmmmm) so they are sticking to it, even after 6 months on the market. It's not meant to be.

Keep that home on your radar. It might sit long enough and they will keep reducing it. Sometimes when they overprice like that, it eventually becomes a deal. I have purchased many homes that were on the market for over a year and the sellers just wanted to sell. This market is still strong however due to inventory, but it isn't AS strong as it was and things do change. I sold real estate for 20 years.

Hope you find something.

[gg]

Originally Posted by SteelCityRising

I feel very fortunate. My fiancé (will be husband in a few weeks) ...

Congratulations!!!

[anthony_c55]

Originally Posted by PghYinzer

Congrats on the upcoming nuptials SCR! You've been thru some stuff, so you def deserve the happiness.


I inquired about the overpriced one in Manchester yesterday and they are turning down any offer under asking. The closest offer they had so far was 50k under. They said that they have an appraisal for 5% more than it is listed for (hmmmm) so they are sticking to it, even after 6 months on the market. It's not meant to be.

Ill keep looking, and since I am currently not in a precarious housing situation I try to keep it in perspective that its not a big deal. My target area is so small (basically only lower Manchester as I want to move closer to the people I hang out with) and has so little turnover this is expected, so if it is meant to be it will happen.

It is challenging with such a targeted area, but something will line up.

[eschaton]

Originally Posted by anthony_c55

It is challenging with such a targeted area, but something will line up.

When you're looking at such a small area, it's often worth walking the neighborhood, finding targeted homes, and contacting the owners directly regarding a sale. I absolutely know people who've gotten into neighborhoods with tight markets (like Polish Hill) that way.

[PghYinzer]

Originally Posted by eschaton

When you're looking at such a small area, it's often worth walking the neighborhood, finding targeted homes, and contacting the owners directly regarding a sale. I absolutely know people who've gotten into neighborhoods with tight markets (like Polish Hill) that way.

That is what my realtor suggested and was planning on starting to do that in the next few weeks.

[svband76]

Originally Posted by gg

Congratulations!!!

Yes, congrats SCR! You seem like a nice person. Anyone who picks up garbage to better their community is solid gold in my book.

[wpipkins2]

Originally Posted by SteelCityRising

I feel very fortunate. My fiancé (will be husband in a few weeks) and I bought a 2-BR/1-BA alley rowhome built in the late-1880's or early-1890's on the North Side in March 2020 for $54,900. It is about 1,100 square feet, and there is one attic room with a very sloped roof we only really use for storage/home office (when my fiancé works from home).

It is very minimalist-friendly. It has a flat tiny yard that is fenced, and we have a 1-car detached garage (tiny---but perfect for my Honda Fit). My fiancé doesn't drive, and there is a bus stop right around the corner for the 17 or bus stops for the 13 and 16 are each 10 minutes away on foot.

My home doesn't have things like stained glass windows or historic transoms or natural woodwork or pocket doors or anything (although it does have a lot of exposed interior brick), so my home wouldn't personally be up your alley (pun intended).

I will keep a look out for you, but anything that you will like in Lower Manchester, Allegheny West, East Allegheny, or the Central North Side/Mexican War Streets is either going to be grossly overpriced, snatched up quickly, or not have any off-street parking.

Congratulations