Pittsburgh presently has a total of 833 foreclosed homes and houses for sale, with the median listed price of $64,351. The huge number of homes available at such a low average listed price graphically illustrates what the government foreclosures are all about: a chance for prospective homebuyers to grab splendid homes at rock-bottom prices. The properties for sale at the foreclosure auctions are invariably at alluringly discounted prices. This is essentially because the auctioneer, be it VA, HUD or a bank, seeks only to recover the balance mortgage loan due to it, and not to profit from the sale. The market values of the houses auctioned are immaterial, from their viewpoint. This translates into an incidental bonus for all home-hunters. The frenzied rush to acquire prime but inexpensive properties through the real estate listings auctions all across the US is, therefore, understandable and inevitable.
Pittsburgh: The Ideal Relocation Choice
Pittsburgh is the second biggest city in Pennsylvania State of the US. Pittsburgh’s downtown commands considerable economic influence, counting as the sixth most important employment ground in the US. This has been acutely highlighted with the city adding to its jobs even in 2008, despite a national recruitment slump. The city enjoys the nicknames of “The City of Bridges” “The Steel City” for its plethora of bridges and steel manufacturing facilities. The city’s modern focus is more on education, healthcare, fashion, financial services and robotics. There are several Fortune 500 companies with their headquarters in this thriving industrial hub, including U.S. Steel, WESCO International, FedEx Ground, Alcoa, PPG Industries, H. J. Heinz Company, Allegheny Technologies and PNC Financial Services.
Pittsburgh had been named by the reputed Forbes magazine in 2007 as the 10th Cleanest US City, and in 2008, Forbes listed Pittsburgh as the 13th Best US City for Young Professionals to Live in. The city has been over and over again graded high in various livability surveys. In 2007, Places Rated Almanac named Pittsburgh as “America’s Most Livable City”. The Pittsburgh Metropolitan Statistical Area is known as Greater Pittsburgh, and comprises seven counties in western Pennsylvania, woven around the nucleus city of Pittsburgh. A few of the umpteen suburbs of Pittsburgh may be mentioned as follows: Beaver Falls, Aliquippa, Clairton, Arnold, Connellsville, Butler, Greensburg, Latrobe, Monessen, Monongahela, Washington, Parker, New Kensington, Uniontown, Duquesne and Jeannette.
Prudence in Real Estate Investments
The Pittsburgh real estate segment is dominated by the prominent agents working there, such as James Dunn, Cliff Schultz, Sandy Pollock and Richard Cassetti. You ought to invest your hard-earned at the real estate listings auctions only after you have consulted a seasoned agent about your specific decisions. The millions of government foreclosures occurring vividly indicate the severe risks innate to real estate investments. A minor miscalculation in the mortgage loan that you take may well lead to your future default in its payments, and joining the ranks of the distressed owners with their homes foreclosed. You wouldn’t want that, would you? The foreclosure auctions doubtless represent a business chance that you can encash for your profit, but this mandates adequate education, planning and preparations.