Home Selling in Pittsburgh>Question Details

Shawn, Home Seller in Pittsburgh, PA

I have 9 homes in the n.side of pgh that need work but I don't have the finances to fix them up. Is there a market out there for these types of?

Asked by Shawn, Pittsburgh, PA Tue Aug 17, 2010

homes?

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13
Shawn
As you can see there are alternatives. You can give the homes away at a low price, the buyer needs to make money also. Or you can follow the tried and true method of asking three experienced full time agents set down with you and ask each to come up with what they fell is the best plan for your situation. In addition to the standard list and sell. I have contracted as well as made the repairs on homes for clients and we both made more than a simple list and sell. Also I have bought homes from sellers and we shared the equity when I sold the final product. The best way for you depends on how much work is needed and many other factors can also play. When you are ready to share the details I would like to be one of the three agents and offer you a plan that makes sense.
Benny Smith, 412-498-7868.
0 votes Thank Flag Link Mon Apr 25, 2011
Absolutely! However, the worst thing you can do is have these houses sit on the MLS for months while they depreciate. We are not Realtors. We buy houses for cash and set up nontraditional deals so that you, the seller, is not limited to just what traditional home selling can offer. Depending on the situation, we close deals in 30, sometimes 60, almost always less than 90 days. Send me the information on your properties so that we can get started today!

mgmt@cashoutmyhome.com

Or visit http://cashoutmyhome.com
Web Reference: http://cashoutmyhome.com
0 votes Thank Flag Link Sun Apr 24, 2011
Hi Shawn, I work with clients that buy any type of property in any condition. Feel free to contact me and we can discuss a possible solution to your problem. I specialize in foreclosures and distressed properties, so I'm sure my clients have seen properties just like yours, or even worse.
0 votes Thank Flag Link Wed Aug 18, 2010
Shawn - Marketed correctly and priced right and the homes will sell regardless of the condition. You can sell the properties in as-is condition. But there is no doubt there is a market.
Web Reference: http://www.EATHOMPSON.com
0 votes Thank Flag Link Tue Aug 17, 2010
That's right up my alley. There's a lot going on in the north side right now. Check out my website and profile. Give me a call if you want to sell these. I deal in a lot of
0 votes Thank Flag Link Tue Aug 17, 2010
Hi Shawn,

I concur with the answers you have already received and I think you have had them provide excellent advice, but I will go one step further. Many buyers are not aware of a rehab loan, such as the 203k program offered thru Bank of America, and I believe Huntingdon Bank offers a similar property. Basically the buyers mortgage the sale price of the home and include in it the cost of repairs/updates, which BOA will have to support the estimates. So if you sell as-is, buyers can become interested in it even without a lot of capital upfront. It should be marketed as such with buyers knowing different ways of financing.

I hope this is helpful, but when I market a property that I think needs some work, I like to include that tidbit of information!

Alisa LaPiana
Re/Max Renaissance Realty West
Moon Township, Pa
0 votes Thank Flag Link Tue Aug 17, 2010
Shawn, North Side is popular for real estate investors and they seek out homes that are in disrepair. I have some listings over there and I have some clients who exclusively buy investment properties in the North Side. I'd be interested in learning more about the specifics so I could pass the info along to investors. I specialize in working with real estate investors so please let me know if you need further assisitance.
0 votes Thank Flag Link Tue Aug 17, 2010
As one of my instructors always said, "It depends." In this economy, people are afraid of investing in anything for fear of whats going to happen from the government and also that no one will buy a property. That being said, if the price is right and the right person becomes informed of it, then it can sell.
0 votes Thank Flag Link Tue Aug 17, 2010
Shortest answer is YES...find a Realtor to help market them, disclose everything you know about them and sell them ""AS IS" just like bank forclosure properties and price them according to the location and condition.
0 votes Thank Flag Link Tue Aug 17, 2010
Hi Shawn,

Most of us who are active agents have " investor" style clients who are used to purchasing homes that are in every kind of possible condition! they will usually be flipped for resale or rented. The clients that I deal with may be interested in 1 or all of the homes in question. It is all determined by what you think they are worth versus what an investor is going to offer you based on the location and the amount of work that is needed etc...

There is a market for everything!
0 votes Thank Flag Link Tue Aug 17, 2010
Shawn,
There is certainly a market for homes in the area, and various stages of repair is generally acceptable to a lot of buyers looking for something to invest in. The best way to judge how likely your homes are to sell (at a price you are comfortable with) is to meet with a real estate agent familiar with activity in the area. We can do a market analysis for you to show you what is currently on the market and what has sold recently that is comparable to what you are working with.
Emily Murphy
412-779-2121
0 votes Thank Flag Link Tue Aug 17, 2010
Shawn
Thanks to the belief that forclosures are a great way to buy and create equity, there are those looking for fixer uppers that can produce rental income. Also first time home buyers quickly learn that in Pittsburgh prices have maintained and in most of our neighborhoods we are at prices greater than thery were in 2007. In short yes there is a market for fixer uppers in Pittsburghs North Side
0 votes Thank Flag Link Tue Aug 17, 2010
Hi Shawn,

Depending on location and condition, there is always a market--even if the home is in bad shape, if priced right, some people are willing to take on a project.

You can reach me any time by cell if you have any further questions/comments @ 724-316-6914 or e-mail @ ebodnar@howardhanna.com

Kindest Regards,
Elaine Bodnar
0 votes Thank Flag Link Tue Aug 17, 2010
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