Continue reading to see just how much better the Pittsburgh real estate market is doing compared to other market and why now is a great time to be a Pittsburgh home seller.

Homes for Sale in Allegheny County

Here’s an overview of the current state of the national housing market:

• From October 2010 to 2011, home values fell by 5.1 percent, to $147,900.
• Since the national housing market’s peak in May 2007, home values have fallen by 23.7 percent on average.
• Some real estate experts are predicting that home values will continue to fall by another 2 to 4 percent before the end of 2012.
• In October, homes nationally were foreclosed on at a rate of 8.1 per 10,000, which represents a decrease from the year before when the rate was 10.7
• Also during the month of October, the share of foreclosure resales in the market was 19.4 percent.
• According to Zillolw, 61 of 156 metropolitan areas saw a decrease in home values on a monthly basis.
• About 39 metropolitan areas saw an increase in home values on a monthly basis.
• And about 22 areas saw no change at all in their home values.
•  Only 10 metropolitan areas saw home values increase on an annual basis.
• Of the 25 largest metro areas, Pittsburgh was the only market that saw year-over-year home value increases.
• And of the 25 largest metro areas, Pittsburgh and three other areas were the only ones to see monthly appreciation.

Here are some housing market statistics specific to Pittsburgh:

• Home value in October 2011: $106,500
• Month to month change: 0.1 percent increase
• Year-over-year change: 0.4 percent increase
• Homes foreclosed: 2.7 of every 10,000 homes
• Foreclosure resales: 8.5 percent

Listing Your Pittsburgh PA Home

Given the recent market data, the Pittsburgh PA real estate market isn’t in nearly as bad of shape as other major markets in the country.

That should be comforting words for those home sellers who may be feeling a little discouraged about national housing market news lately.

For expert advice on how to effectively market your home on the Pittsburgh real estate market in this economic climate, contact me, Jim Dolanch.

I’ll also provide you with a number of tools to help you get the best price on your home in as little time as possible.  These include:

• Before You List
• 10 Common Seller Mistakes
• Free home evaluation

Until next time,

Jim

Experts are saying that Western Pennsylvania’s stable housing market – as well as its broad tax base – will help our area recover from the recession quicker than most areas.

Continue reading to learn more about why experts believe the Pittsburgh real estate market will be the market to watch in the coming months and years.

Pittsburgh Real Estate

According to a recent report commissioned by the U.S. Conference of Mayors, the Pittsburgh PA area should create 37,500 jobs by the first quarter of 2012.  That would bring employment numbers back up to where they were during the second quarter of 2008.

The report also said that the Pittsburgh real estate market ranked higher than nearly 300 metropolitan areas when it came to potential for quick housing market recovery.

Other cities near the top of the list included Austin, Texas and Sandusky, Ohio.

Experts credited this rebound potential to two factors:

• Pittsburgh real estate prices didn’t sky rocket during the housing market bubble like many other housing markets.  Thus, post bubble burst, Pittsburgh home prices didn’t such a drastic plummet in home prices and values as those other housing markets.
• Pittsburgh’s tax base is fairly diversified – making it less susceptible to problems in one area.  For instance, manufacturing is no longer the primary focus on the region.  There is also a sizable job market in health care and science.

Here’s how Pittsburgh stacked up next to other metropolitan area in the report;

• Pittsburgh ranked 23rd for gross metropolitan product for 2010.  The city grossed $115.6 billion.  New York City was number1 with $1.3 trillion.
• Pittsburgh ranked 245th out of 363 for average annual growth rate between 2000 and 2010.  The city grew by 3.5 percent on average annually.
• By 2013, Pittsburgh’s unemployment rate is expected to drop from 8.1 percent (as of 2010) to 5.8 percent.

Purchasing a Pittsburgh Area Home for Sale

I’m thrilled that national analysts are so optimistic about how quickly the Pittsburgh real estate market will recover.

That said, if you’re thinking about purchasing a Pittsburgh area home for sale, now is the time.

As the economy begins to recover, home prices – as well as interest rates – will inevitably start to rise.

Thus, if you want a good deal on a Pittsburgh area home for sale, I recommend you start looking now.

Working with an experienced Pittsburgh area real estate expert will help make the Pittsburgh real estate transaction process easier.

That’s where I can help.  Contact me, Jim Dolanch, today and I’ll tell you about all the resources I can provide to help make your Pittsburgh home buying process as easy and worry free as possible.

Until next time,

Jim

The article described a report completed by Zillow.com, which ranked the best places to live in America based upon affordability, unemployment rates, foreclosure rates and year-over-year housing price trends.

Because places like Pittsburgh and Rochester did not see the exponential jump in home prices during the national housing market bubble, they were also less susceptible to the catastrophic aftermath of the market post-bubble burst, experts said.

Living in Pittsburgh, Pennsylvania

ABC News provided a snapshot of what life is like in Pittsburgh PA and why quality of living is so high here.

It found that Pittsburgh relies heavily on its major university employers, which include the University of Pittsburgh as well as Carnegie Mellon.

Not only do these universities help to employ a large number of Pittsburgh area residents, but they also improve our quality of life with their intellectual programming and activities that they offer to the public.

An extensive health care sector also keeps our city’s unemployment rate low.

The study also found that Pittsburgh’s median home price is $103,900 – a rather attractive sales price for interested Pittsburgh home buyers!

Entering the Pittsburgh Area Real Estate Market

Given the recent analysis completed by ABC News and Zillow.com, it’s no wonder that Pittsburgh was named the best place to move and live in America.

Not only are Pittsburgh homes affordable for nearly everyone, but the city also provides its residents with a number of amenities to improve quality of life, including:

• Fantastic public schools
• A stellar parks and recreation program
• Family-centered activities and events
• Beautiful Pittsburgh residential neighborhoods
• Gorgeous Pittsburgh homes for sale
• And more!

To learn more about purchasing a Pittsburgh area home for sale, then contact me, Jim Dolanch.

As your Pittsburgh area real estate expert, I’ll let you know about all the available listings in the Pittsburgh area as well as answer any questions you might have.

Until next time,

Jim

While there is a relatively low number of foreclosure listings in Allegheny County, the area’s median foreclosure list price is about 70 percent below the median market price. That figure also includes bank foreclosures that are listed for sale.

Foreclosures occupy about 4 percent of the Pittsburgh area real estate market.

Allegheny County isn’t the only one seeing low foreclosure prices.  Cleveland, Ohio has a median foreclosure price of $30,500 while St. Louis Missouri has a median foreclosure price of $39,750.  Detroit Michigan leads the nation with the lowest priced foreclosed homes in the nation at $24,900.

Researches attribute the trend to the fact that only about half of the foreclosed properties are actually on the market right now in Allegheny County, Pennsylvania.  Researchers from RealityStore referred to the other half that’s not on the market as  “dormant, shadow inventory of repossessed property.”

Researcher Discover Even More About Foreclosures in the Pittsburgh Area

During RealityStore’s extensive study, researchers also discovered that:

• In terms of Allegheny property that is currently owned by a lender by way of a foreclosure, 32 percent is owned by Fannie Mae/Freddie Mac, 5 percent is HUD homes and 63 percent is bank owned.
• Fannie/Freddie have 64 percent of their foreclosure property listed on the Pittsburgh area real estate market, HUD has 82 percent listed and banks have 44 percent of their inventory listed.
• HUD  homes in Allegheny County, Pennsylvania have the highest median sales price with $55,000, followed by banks with a median sales price of $39,950.  The average sales price on a Fannie/Freddie listing is $34,900.

What Does This Mean for the Pittsburgh Area Home Buyer?

Those interested in entering the Pittsburgh real estate market as a Pittsburgh home buyer should pay close attention to who owns the foreclosed home that they’re interested in buying.

As you can see, that answer may decide whether you spend more or less on the home as compared to other foreclosed homes in Allegheny County.

Purchasing a home is a complicated and intricate process.  By working with an experienced Pittsburgh REALTOR, you’ll save yourself both time and money.

If you’re interested in checking out available listings on the Pittsburgh real estate market, contact me, Jim Dolanch, your Pittsburgh real estate expert.

I’ll tell you everything you need to know in order to become an informed Pittsburgh home buyer as well as answer any questions you might have.

Until next time,

Jim

The group released a new study this week that named Pittsburgh as the “most livable city” in the country. It narrowly beat out Honolulu for the honor, the Pittsburgh Post-Gazette reported.

Several factors were considered for the 2011 Global Livability Rankings, including stability, health care, education, infrastructure and culture and environment. Each city could score a maximum of 100 points and the Steel City earned a whopping 92.3.

When Pittsburgh, PA was pitted against 140 cities around the world, our beautiful city ranked 29th overall. The study found that Vancouver is the most livable place in the world after the Canadian city earned a score of 98.

Pittsburgh Real Estate: A Wise Investment

Pittsburgh’s recent honor isn’t just a fluke, as evident by the numerous accolades the city has received in recent years. For instance, last year, Forbes.com rated Pittsburgh as the most livable city in the country.

Pittsburgh has become such an attractive place to call become because of the numerous amenities it offers.

In addition to a variety of amenities, the city also has a very family-centered mindset that makes it ideal for raising kids.  We’re also well known for having friendly neighbors and a strong sense of community.

Purchase Your Dream Pittsburgh Home for Sale Today!

The Economist Intelligence Unit needed to complete a lengthy study to realize what we Pittsburgh residents have known all along: Pittsburgh is an amazing place to live.

If you’re interested in learning more about the Pittsburgh real estate market, then contact me, Jim Dolanch, your Pittsburgh Realtor.

I’ll tell you everything you want to know about living in the Pittsburgh, PA area as well as answer any questions you might have.

I also suggest you check out my FREE relocation package as well as my Pittsburgh buying guide to learn more about the Pittsburgh area, such as information on local schools,  amenities and communities.

Until next time,

Jim

Foreclosures in the Pittsburgh Area Real Estate Market

One of the major factors to Pittsburgh real estate foreclosures was the increasing interest rates of adjustable rate mortgages (ARMS) that were used heavily by banks and home buyers from 2001-2006.

Other reasons for the past few years of Pittsburgh home foreclosures include job loss, unexpected family illness and catastrophic family crisis. Do you see your beloved Pittsburgh property starting to slip to foreclosure? Learn how to avoid scams and foreclosure predators, and contact me, Jim Dolanch, your expert Pittsburgh foreclosure real estate agent to help find ways to avoid foreclosure.

Pittsburgh Homes For Sale

Luckily, the drop in Pittsburgh home values over past few years have been nothing when compared to other major cities in the county-and we are even seeing a rebound in home values starting for 2011.

Already starting in the last quarter of 2010, we saw the start of a small rebound in home values, as the number of foreclosures diminished, as well as the number of homes for sale in general. Even though it is early in 2011, the trend looks to be strong and steady, with great signs of a slow, steady and continuing improvement of current home values back to where they had been 3 years ago.

Buying Pittsburgh Real Estate

Are you ready to make your dream of Pittsburgh home ownership come true? Have you found a Foreclosed Pittsburgh real estate you would like to learn more about? Simply contact me, your expert Pittsburgh REALTOR to get the answers to your questions quickly.

Until next time,
Jim

Pittsburgh Homes For Sale

When it comes to searching Pittsburgh real estate for sale, there is no better place to start than the Jim Dolanch real estate team and our custom Pittsburgh Home Search. We have customized the search queries so you are better able to narrow results to match homes that fit many criteria. You can also search according to Pittsburgh neighborhood and learn about the many Pittsburgh area communities, including Peters Township real estate.

Buying Pittsburgh Property

2011 should continue to show strong results for Pittsburgh homes. If there are certain neighborhoods you are already interested in relocating to, then feel free to request a Pittsburgh Relocation Package to learn even more.

Team With Expert Pittsburgh Realtors

What are some of the things you desire to know about Pittsburgh? You can learn more about the Pittsburgh real estate market stats and leave comments below about what you feel is important to learn about the area of Pittsburgh.

When you are ready to learn more about relocating to Pittsburgh, or would like to just learn more about our wonderful area and communities, then simply contact me, Jim Dolanch, to learn the answers to anything and everything about Pittsburgh.

Until next time,
Jim

Pittsburgh Voted One Of The Best Places For A Family

Bloomberg Businessweek has come out with their “America’s Best, Affordable Places to Raise Kids”, and the suburbs of Pittsburgh won the number 6 spot.  All the places were ranked according to:

• Middle Income Communities
• Relatively Low Property Taxes
• Quiet Established Family Friendly Neighborhoods
• Outstanding School System Options
• Steady Job Market
• Relatively Low Cost of Living
• Median Family Income is within 20 percent of the State Median.

So what area of Pittsburgh ranked as the best place to raise a family?

Crafton, Pittsburgh Real Estate

An outstanding,tree-filled Pittsburgh suburb, featuring classic Victorian homes and part of the award winning Pittsburgh school system, Crafton is a highly coveted neighborhood for raising children. The area is very family oriented, with quick access to large city amenities just minutes away in Pittsburgh. The Crafton Parks and Rec system is wonderful, with many year around events and sports, as well as resident only benefits, such as the shelters for picnics at Crafton Park are available for rental by residents only. The town also boasts a pool, a nine-hole golf course, summer concerts in the park, and an annual Rib and Chicken Fest put on by the local Rotary Club in the summer that offers a great way to meet and greet fellow neighbors.

Relocating To Crafton, Pittsburgh, PA

Have you been searching for a wonderful Pittsburgh area to raise your children, where you can enjoy numerous family based community events, work in a strong and stable employment market, and enjoy affordable living in older, established, and breathtaking neighborhoods? Then truly, the Pittsburgh area and Peters Township area are the choices for you. Along with the wonderful family area of Crafton, you can also enjoy amazing opportunities for your family, carrier and a strong Pittsburgh area real estate investment.

Pittsburgh Area Realtors

When you feel ready to move to Pittsburgh real estate, or search for homes in one of our wonderful Pittsburgh communities, then be sure to take advantage of my FREE exclusive Pittsburgh Home Buying Guide, and request a FREE Pittsburgh Moving Kit. Other questions? Not sure where to start your search of Pittsburgh area homes for sale? Simply contact me, Jim Dolanch, your expert Pittsburgh and Peters Township area real estate agent.

Until next time,
Jim

Pittsburgh Real Estate Market

Bestplaces.net has long been helping people find the best communities and areas throughout the nation; and according to recently calculated statistics, the Pittsburgh real estate area is now the best city in America to move, live, and buy real estate. What gets a city on the list of best places to relocate to? The stats take into consideration all facets of information, as you can see in detail below.

Relocating To Pittsburgh

Over the past decade, Pittsburgh has made an impressive transformation from an industry based city into a central hub of outstanding education, health care and the arts, while the Pittsburgh real estate market is still staying very affordable, strong  and stable. Currently, the cost of living is 12.2 percent below the national average, while the average home price is at $116,400-well below the national average of $171,700.

Reasons to Move To Pittsburgh

Other factors that make Pittsburgh communities a great place to raise  family?

• Extremely low crime rate
• Low unemployment rate of 7.8%-the national average is 10.2%. Pittsburgh, PA is also listed as the number18 job market, with an average of 2 applicants per available job. Quite impressive when many markets have thousands of applicants per available job.
• High amount of arts available to residents, from enriching museums, plays, performances, and programs
• Outstanding educational opportunities, from preschool all the way to college. Pittsburgh area schools offer some of the best and most affordable options for families.
• Pittsburgh is also repeatedly ranked as one of the best sports cities, boasting six-time Super Bowl champion Pittsburgh Steelers, the Pittsburgh Pirates baseball team and the Pittsburgh Penguins hockey team. It would be difficult to find a city with a more loyal sports fans – a fact that should not be underestimated when it comes to quality of life.

Contact Your Expert Pittsburgh Area Realtors

Are you ready for a fresh start in a wonderful new city? The Pittsburgh area may just be the place for you, offering great opportunity, amazing Pittsburgh homes for sale, and great local entertainment.  What are some of the things you are searching for in Pittsburgh real estate? Either leave a comment below or feel free to browse Pittsburgh real estate for sale,  through our custom home search, and then contact us, your expert Pittsburgh real estate agents, when you have questions for feel ready to start your Pittsburgh home buying process.

Until next time,

Jim

Pittsburgh Real Estate Market Report

Pittsburgh tops the Forbes list of the best real estate housing markets. For Pittsburgh real estate experts like the Jim Dolanch Team, we have known for awhile now that the Pittsburgh real estate market was leaps and bounds ahead of other markets nationwide. While places like Miami, New York, and Santa Barbara are suffering still from major numbers of foreclosures, plummeting home values, and a huge surplus of homes on the market, the Pittsburgh area has been blessed in getting through without much wear. Pittsburgh foreclosures on the market have lowered considerably over the last 6 months-and that in turn has lead to the steady and logical increase of Pittsburgh home values. You can see the stats below.

Forbes Magazine Picks Pittsburgh As Best Real Estate Value

According to the recent Forbes Magazine, the best place to buy right now is our home town of Pittsburgh, PA. To get mentioned in their list of “Best Housing Markets”, the market had to reach the following criteria:

• appreciating prices that show homeowners are making wise investments
• an affordability rating that gives middle-class families with good credit entry into the market
• a relatively low number of foreclosures, which keeps prices stable and indicates there isn’t an excess of inventory.

Pittsburgh has all three, and for anyone interested in buying Pittsburgh homes for sale, or ready to start the Pittsburgh home buying process, that is even better news! In the Pittsburgh, PA metro area, 85 percent of homes are affordable to those making the median family income of $62,500. At the same time, foreclosures are low; there are only one home in foreclosure per every 120 housing units — the second-best record of all the cities Forbes ranked. Additionally, Pittsburgh home prices are expected to increase approx. 2.67 percent by the end of the year, another fantastic indicator of a strong, healthy real estate market.

The Pittsburgh Area Real Estate Economy

Pittsburgh has suffered greatly since the decline of its manufacturing-dependent economy; however, that small, previous slump helped its real estate market dodge the rapid run-up in prices that doomed so many markets after the housing boom.  Read a quote from the Forbes Magazine article below:

“Manufacturing cities like Pittsburgh have suffered so much for the last two, three, four years that there’s still a population base in that region, and now those areas are sort of attractive,” says James P. Gaines, research economist at the Real Estate Center at Texas A&M University. “Home prices are so low, some service-level jobs can be created, so it’s not surprising perhaps that there’s been a revitalization of some of those communities.”

Exactly. Pittsburgh has the strong base to offer great opportunities both in home values and job creation for anyone ready to relocate to Pittsburgh.

Pittsburgh Housing Market

To find the country’s best housing markets, Forbes used the Housing Opportunity Index, a metric created by the National Association of Home Builders and Wells Fargo that determines affordability by measuring median home prices against median incomes. Using the 40 largest housing Metropolitan Statistical Areas that the HOI ranks, Forbes then factored in Moody’s Economy.com’s one-year forecast for the S&P/Case-Shiller Home Price Index, a measure of sales prices in major markets, to find out where home prices were expected to rise. Finally they included the 2009 Foreclosure report from RealtyTrac, ranking cities by their percentage of foreclosures. In the end, Forbes averaged the rankings for all these measures to arrive at an overall score, and Pittsburgh placed in the top spot.

Move To Pittsburgh

Ready to start new in the new year? Anything you would like to know about the Pittsburgh real estate buying process? Take a browse through current Pittsburgh properties for sale, and be sure to contact me when you are ready to team with an expert Pittsburgh real estate agent.

Until next time,

Jim