Again Pittsburgh is getting attention for being a top city to reside.   Housing prices are very reasonable and it is still a buyers market with plenty of inventory. Here another article . . .

“Pittsburgh is quickly emerging as one of the top cities in the United States overall, with the largest number of green buildings, nationally high ranked museums and schools and even one of the best airports it truly aims to pull in top marks in all aspects and areas of life. As you can see Pittsburgh is a great choice to explore when you are looking to move, look at the prices, the culture and even the lifestyle and you are sure to fall in love with the city.”

Whether you are selling, re-financing or taking a home equity loan, you will be having an appraisal.  It is a good idea to have the house clean and have access to all harder to reach areas.  I have some tips that will help you.

Here are some things to assist when the appraiser stops in:

1)  Allow 30 to 60 minutes for the appraiser to go in and inspect the property as well as take photos.  The appraiser will also measure the home, garage and any other outbuildings.

2)  Make a list ahead of time of things that you would like to improve or have ready prior to the appraisal.  This will help you have better results.

3)  If you have a floor plan or blue print of your home, it can come in handy when trying to verify measurements.

4)  Write up a list that includes improvements you have made to the property since you have owned it and how much you spend on those items.

5) Make sure the appraiser has access to all spaces on the property including attic and crawl space areas.

6)  Point out key features of the home that you feel give it some value.  There may be some things the appraiser could miss.

7)  Provide information on last year’s tax assessment.

8)  Be able to tell the appraiser when the house was built and when improvements were done.  Such as what year the roof was put on.

9)  If you know of some recent comparables in your neighborhood, have those available.

Last evening I showed a couple a home. It sounded so wonderful. The home is probably about 3500 square feet or more on 4 acres on a dead end road in the country. Very few neighbors. It has a pool and about 2 acres are grass. The house had been added on to at one time. It appeared to have an in-law suite on the side. There were three kitchens in the house. The third being in what appeared to be a basement apartment. Lots of work needed to be done but maybe the place had some potential. The floor plan was so chopped up but looked so awesome from the outside.

So when we got to the upstairs the master bedroom, we found out that it had two bathrooms and one it shared with what the another bedroom connected to it (being captured). One things that did not make a whole lot of sense to me was that it had laundry hooks-ups in the middle of the master bedroom and the washer was still there. Now keep in mind the home had first floor laundry and there were no doors to the outside as if this was an apartment. Then we go into the next room connected to the master (that shares the second master bath) and there is a working, built-in, jacuzzi tub in the corner of this caputured bedroom.

I have included a rough sketch of the floor plan and some photos.

Many new and second homeowner’s use FHA loans. The market can be confusing and here are some helpful facts to help you in your home buying process. Qualified Lenders offer FHA loans, considered mortgages, and these mortgages are insured by the Federal Housing Administration (FHA). Many buyers still do not totally understand the benefits that can be had from FHA Loans.

Here are some interesting facts.

1. Low-income borrowers are not the only one’s to benefit from FHA Loans.  There is no maximum income restriction.
2. FHA loans can be for more than first-time home buyers.
3. FHA loans are not only for lower priced homes. Loan amounts for FHA can be almost $800K. The loan amount cap was originally around $363,000 and increased to almost $800K to help stabilize the housing market.
4. FHA does not have anything to do with low-income housing. Simply FHA loans are mortgages that are insured by FHA.
5. FHA loans, in many cases, are more affordable conventional loans and allow the borrower to have a smaller down payment.
6. More lenders are willing to loan to to FHA (the federal government) that assures repayment.
7. FHA loans can be assumed. This means a new buyer can take over the payments as long as they bring the seller’s current equity (cash in the home) to the table. This works well when interest rates have risen greatly compared to what the seller’s current mortgage interest rate is.

Read More at RISmedia

Pittsburgh has been making headlines especially in the last two years. The city has done it again. Pittsburgh also has a strong university presence. There are over 12 Universities here in Pittsburgh. This equates to great employment opportunities and livability as these schools are large employers.

The following is quoted from Forbes.com

“Pittsburgh has a really great cultural scene. We have a great ballet and a great symphony that travels the world and performs to packed houses, and there’s a restaurant scene that’s much more diverse than it ever was when I was growing up,” says Wendy Hermann, director of student services for master’s programs and a Pittsburgh native. “And it’s an easier sell, now that the Steelers and Penguins won their respective titles.”
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Indeed, Pittsburgh’s art scene, job prospects, safety and affordability make it the most livable city in the country, according to measures studied.

Great news today for Pittsburgh housing market.  Things are improving.  The Pittsburgh area has always been a great place to buy.  Prices are stable over time.

“New home construction in the Pittsburgh region increased for the first time in two years, rising 3.8 percent overall with single-family homes showing the most improvement, according to a report issued Thursday.

Housing construction permits issued during January through March reached 514 units, compared with 495 for the same period in 2009, according to Tall Timber Group, a construction market and research company in Ross.”

Quoted from Pittsburgh Trib

You have two weeks from today to get a home under contract to get up to that $8000 and close by June 30th.    Houses are going fast, especially if they are good buys.  Don’t hem and haw if you want some of the $8,000 tax credit.  I have been experiencing many homes already under contract when a buyer wants to see them.  Not just one but several on their list.  Then if you get the chance to look, there are also multiple offers.    One of my buyers was lucky last month.  An agent in my office announced she was listing a home in a couple of days.  I got my buyer in the day it was listed (under market price) and he make an offer and it was accepted all in one day.  I advised him to move on it, if it was a house he liked because it would not last long.  He was happy he did and all went well.

Tax Credit Details

Additional Tax Credit Details from Realtor.org

Frequently Ask Tax Credit Questions

AKHome.info Tax Credit Archives

Are you considering the home buyer tax credit?  If so you have less then 60 days to put your home under contract.  With the new extension that took place last November, you now do not have to be a first time home buy to qualify.  You do not even have to have your current home sold when purchasing that step up home.  Another key point is, that if you have qualified for the tax credit already, and your taxes have been completed for 2009, you do not have to wait until next year.  You can file to amend your taxes and get the money now.

1)  As long as you stay in your qualified home for 3 years, you don’t have to pay it back the credit back.

2) This is a dollar for dollar tax credit, it is not a deduction.  It will be a reduction in your owed taxes of up to $8,000 for first time home-buyers and up to $6500 for qualified buyers who are repeating the process.  Repeat buyers must have lived in the home at least 5 consecutive years during an eight year period by the closing date of the new home.

3)  The income limit qualification has been expanded to include more buyers.

So hurry if you are planning to take advantage of this home buyer tax credit, you must have a contract in place by April 30, 2010 (with closing to take place by June 30, 2010), so call your real estate agent today!

Tax Credit Details

Additional Tax Credit Details from Realtor.org

Frequently Ask Tax Credit Questions

AKHome.info Tax Credit Archives

Time and time again the statistics are putting Pittsburgh in the top affordable places to live. There are a lot of things to do and see and Pittsburgh has strong technology and healthcare jobs. As a photographer, the city is a great place for a wide range of subjects. You could spend the day there – possibilities are endless. If you are from out of state, consider the benefits of this city and the stable housing market.

“Families in the market for a house are shopping at the right time: Nationally, homes are near the most affordable they’ve been in 18 years. In the fourth quarter of 2009 housing was 62.4% more affordable than the same time a year earlier, according to the Housing Opportunity Index, published quarterly by the National Association of Home Builders and Wells Fargo. The best place to buy right now: Pittsburgh.”

Quoted from Forbes Article Feb 19, 2010

Related Blog Entries:

Pittsburgh Ranks Number One

Pittsburgh in the Top 5

Vandergrift, PA (NE Pittsburgh Suburb) Gets Ranked a Top Town in the Nation to Purchase a Home

The strangest thing happened during the blizzard this weekend.  Last night we had about 12 inches of snow when we let the dogs out before bed.  They made quite a trail and then came in.  So in the morning we got up and the trail they made was totally gone – no sign at all.  There were some other tracks in the yard that came from the front of the house and went about 25 feet behind the house.  So ok, there was probably some deer that came through.

Over where it appeared deer went, was, what looked like a piece of wood under the tree.  In our yard, is very common that large pieces of wood drop as there are many dead branches wedged far up in the trees.

Our puppies sleep by the door.  In the morning, Titan, was suddenly very distressed about something outside.  But you must know that is normal for him.  He will bark at anything that is out of place or even if garbage bag or balloon gets loose and blows through the yard – he freaks out.

We made a path out the back door so we could all move around easier and get to our picnic table to measure the snow.  The dogs went right to the wood in the yard and were going crazy.  So we soon discovered it was actually the ear of a deer – poor thing.  It came in to our yard and went to sleep.  By the morning it smelled pretty bad.

We got the driveway cleared and got the quad out.  The boys tied up the deer, dragged it out front, tied it on the quad and drove it to an undisclosed location.   I also took over 800 photos and probably 30 plus movie clips all the action the whole day.  What Fun!  My kids have never seen this much snow.