Flipping America 262, Pittsburgh!
Today we are talking Pittsburgh Pennsylvania in our Market Focus. Coming up we are going to zero in on the Pittsburgh market and I talk to four of the movers and shakers getting it done in Steel City USA. The economy is roaring, the real estate market is hot, home prices are up and continue to increase, everything is looking rosy in Pittsburg. If you have the Flipping America app, you\u2019ll have access to all of our research, but rather than hear me read you the research, let\u2019s talk to the actual people. Alex Deacon, Josh Caldwell, Cindy Rack, and Ryan Scialaba are joining us now.
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Announcements:- Lunch with me every Wednesday. Baraonda
- My latest article in Forbes is out. bit.ly/findredeals.
- The FAN is here!
- Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That\u2019s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.\xa0
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It\u2019s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.\xa0\xa0
https://en.wikipedia.org/wiki/Pittsburgh
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Market Summary:
There are currently 1,451 properties in Pittsburgh, PA that are in some stage of foreclosure (default, auction or bank owned).
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In April, the number of properties that received a foreclosure filing in Pittsburgh, PA was 14% lower than the previous month and 2% higher than the same time last year.\xa0
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Home sales for March 2019 were up 0% compared with the previous month, and up 0% compared with a year ago. The median sales price of a non-distressed home was $0. The median sales price of a foreclosure home was $0, or 0% higher than non-distressed home sales.
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Population
308,003
Cost of Living Index
96.04
Crime Index
212.51 (C-)
Schools
144 (C+)
Household Median Income
$36,019
Unemployment
4.90%
Percentage of vacant homes
16.04%
Foreclosures
1,451
Homes for sale
1,007
Foreclosure Rates for Pittsburgh:
1 in every 1864
Top 5 zips:\xa0
15235 - 1 in every 591 Highest rate
15204 - 1 in every 668
15223 - 1 in every 829\xa0
15210 - 1 in every 931
15218 - 1 in every 1253 Lowest rate
Demographics: http://worldpopulationreview.com/us-cities/pittsburgh-population/
US Demographics: https://en.wikipedia.org/wiki/Demography_of_the_United_States
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Real Estate Market Trends - Pittsburgh: http://www.noradarealestate.com/blog/pittsburgh-real-estate-market/
https://www.trulia.com/real_estate/Pittsburgh-Pennsylvania/market-trends/
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USA Real Estate Market Trends
https://www.globalpropertyguide.com/North-America/United-States/Price-History
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The nation\u2019s hottest housing markets
https://themortgagereports.com/50802/the-nations-hottest-housing-markets-is-your-city-one-of-them
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Real Estate News- Local News (Atlanta)Atlanta Fed President Bostic does not see a rate cut this year like the market is telegraphing
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Fed speakers could steal focus from trade war in week ahead
https://www.cnbc.com/2019/05/17/fed-speakers-could-steal-focus-from-trade-war-in-week-ahead.html
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JP Morgan slashes second-quarter GDP forecast to just 1%
https://www.cnbc.com/2019/05/24/jp-morgan-slashes-second-quarter-gdp-forecast-to-just-1percent.html
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Stocks close lower as tech takes brunt of trade tensions
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National NewsTech Hubs giving cities a Real Estate Boost
https://www.mansionglobal.com/articles/tech-hubs-giving-cities-a-real-estate-boost-203366
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Melinda Gates is funding this Wall Street rebel who is teaching women to invest and stick it to the banks
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Home prices hit a record, as higher-end listings dominate this spring\u2019s market
https://www.cnbc.com/2019/04/04/home-prices-hit-a-new-record.html
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8 affordable U.S. cities for the middle class to buy a home
https://www.cnbc.com/2019/05/09/affordable-us-cities-for-the-middle-class-to-buy-a-home.html
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US housing starts rose more than expected in April
https://www.cnbc.com/2019/05/16/housing-starts-april-2019.html
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A $1,000 Monthly Mortgage Is Real\u2014in These 10 Bargain Cities
https://www.realtor.com/news/trends/1000-a-month-mortgage-in-these-10-bargain-cities/
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The Amazon Effect: Prices Up, Listings Down Near Its New HQ2 in Virginia
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Real estate: 3 challenges facing first-time homebuyers this spring
https://www.usatoday.com/story/money/2019/05/02/real-estate-market-how-buy-home-spring/3563380002/
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ATTOM Data Solutions recently released its Q1 2019 Home Sales Report, which broke down various datasets on how the housing market is fairing.\xa0
https://www.attomdata.com/news/most-recent/where-my-first-time-buyers-at/
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House passes bipartisan bill that will make saving for retirement easier
International NewsWhy the worst may be yet to come for stocks as trade war tensions persist
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The China trade war is leading to lower mortgage rates for American homebuyers
https://www.cnbc.com/2019/05/23/china-trade-war-leads-to-lower-mortgage-rates-for-americans.html
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Wall Street is becoming convinced the trade war is here to stay and will only get worse
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Celebrity surgeon went \u2018all in\u2019 on $180 million Bel Air mansion, then came the high-end housing glut
https://www.cnbc.com/2019/05/22/celebrity-surgeon-goes-all-in-on-180-million-bel-air-mansion.html
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Above and beyond: how 3 real estate leaders earned a referral
https://www.inman.com/2019/05/27/above-and-beyond-how-3-real-estate-leaders-earned-a-referral/
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Is Intercontinental International Real Estate Investment Company (ATH:INTERCO) Potentially Underrated?
https://finance.yahoo.com/news/intercontinental-international-real-estate-investment-101702619.html
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
Motivational Thoughts for the day\xa0
- \u201cThe Pessimist Sees Difficulty In Every Opportunity. The Optimist Sees Opportunity In Every Difficulty.\u201d \u2013 Winston Churchill
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