🚀 go-pugleaf

"M Christine Lamanna" <ml6j@andrew.cmu.edu> wrote in message
news:94763843.1060082125@FSG-ML6J.PC.CC.cmu.edu...
> HIGHLAND PARK HOME FOR SALE BY OWNER
>
> 128 HIGH PARK PLACE
> Pittsburgh, PA 15206
>
> $349,000
> 4 Bedrooms, 2 Full Baths, 1 Half Bath


I think you mean "High Place Park".  Not "park place"?

http://www2.county.allegheny.pa.us/RealEstate/General.asp?Street=HIGH&CurrBloLot=0123E00034000000

M Christine Lamanna wrote:

> HIGHLAND PARK HOME FOR SALE BY OWNER
>
> 128 HIGH PARK PLACE
> Pittsburgh, PA 15206
>
> $349,000
> 4 Bedrooms, 2 Full Baths, 1 Half Bath
> MUST SEE!
>
> County: Allegheny
> School District: Pittsburgh
> Taxes: $6200
> Lot: 54X103X56

SOUNDS LIKE A REAL STEAL !!!!!!!

According to *Allegheny County Property Assessment, the full market value of
this property is $167,500, which is slightly under the asking price of
$349,000.  *smirk

In other words, the asking price is $181,500 above the market value, not a bad
profit!!!!!!!!!!

Then comes the TAXES, $6,200 a year, that equates to $516.00 per month, not
including your loan/mortgage.

Now I'm sure that if some sucker was to buy it at or near the asking price,
that would trigger a COUNTY REASSESSMENT in the near future, DOUBLING the TAXES
to $1,032 per month or $14,400 (again not including your loan/mortgage)

Then there's always Peabody High School that you can send your children to, not
a stellar educational institution.

But alas !!!

There is always Pittsburgh's savior, TOM MURPHY you can rely on to RAISE YOUR
TAXES, while he continues to BANKRUPT THIS CITY INTO OBLIVION.

But then again....

Who Cares

*
http://www2.county.allegheny.pa.us/RealEstate/General.asp?Name=Lamanna&CurrBloLot=0123E00034000000






> Garage: Integral/ 2 Car
> LR/DR: 24X22- Main Level
> L Shaped Kitchen: 16X10
>                   13X9- Main Level
> Den: 12X9- Entry Level
> Finished Game Room: 33X19- Lower Level
> Laundry Room: 17X7- Lower Level
> Master Bedroom 1: 18X14- Upper Level
> Bedroom 2: 14X10- Upper Level
> Bedroom 3: 12X11- Upper Level
> Bedroom 4: 12X11- Upper Level
>
> Floors: Ceramic, Wall to Wall
> Cooling: Central
> Heat Type: Gas, Forced Air
>
> Sunny, Large Eat in Kitchen, Dining Room/Living Room Combination, Wonderful
> Finished Family Room on Lower Level, Great Enclosed Backyard with Deck,
> Cathedral Ceilings on Main Level
>
> Best Lot on Street!
> End of cul-de-sac
> Nicely landscaped
> Walking distance to park and bus line
> Wonderful neighborhood!
>
> Conatct Information: Jim Lamanna 412-760-5108
>
> Christine Lamanna
> Audit Coordinator, Sponsored Projects Accounting
> Carnegie Mellon University
> 5000 Forbes Avenue
> Pittsburgh, PA  15213
> 412-268-4549 phone
> 412-268-7068 fax

Who Cares wrote:

As a follow up, the current owners purchased it 7 years ago (10/29/1996) for $150,000


> M Christine Lamanna wrote:
>
> > HIGHLAND PARK HOME FOR SALE BY OWNER
> >
> > 128 HIGH PARK PLACE
> > Pittsburgh, PA 15206
> >
> > $349,000
> > 4 Bedrooms, 2 Full Baths, 1 Half Bath
> > MUST SEE!
> >
> > County: Allegheny
> > School District: Pittsburgh
> > Taxes: $6200
> > Lot: 54X103X56
>
> SOUNDS LIKE A REAL STEAL !!!!!!!
>
> According to *Allegheny County Property Assessment, the full market value of
> this property is $167,500, which is slightly under the asking price of
> $349,000.  *smirk
>
> In other words, the asking price is $181,500 above the market value, not a bad
> profit!!!!!!!!!!
>
> Then comes the TAXES, $6,200 a year, that equates to $516.00 per month, not
> including your loan/mortgage.
>
> Now I'm sure that if some sucker was to buy it at or near the asking price,
> that would trigger a COUNTY REASSESSMENT in the near future, DOUBLING the TAXES
> to $1,032 per month or $14,400 (again not including your loan/mortgage)
>
> Then there's always Peabody High School that you can send your children to, not
> a stellar educational institution.
>
> But alas !!!
>
> There is always Pittsburgh's savior, TOM MURPHY you can rely on to RAISE YOUR
> TAXES, while he continues to BANKRUPT THIS CITY INTO OBLIVION.
>
> But then again....
>
> Who Cares
>
> *
> http://www2.county.allegheny.pa.us/RealEstate/General.asp?Name=Lamanna&CurrBloLot=0123E00034000000

the property will be re-assessed at the sale price (assuming that it is 
the asking price) the will make the property taxes:
$350,000 * 3% = $10,500/year = $875/mo
at 6% and 30 year (financing the entire purchase price)
$2,100/mo

making the total monthly expense (no insurance) = $2,975

assume that this represents ~50% of gross income of the family (cuts 
things a bit thin... but for the sake of discussion)
this would mean ~$72,000/yr

income taxes on this would be $72,000 * 3% = $2,160

so-- a this proposed purchaser would be paying:
$ 2,160 - income tax
$10,500 - property tax
-------
$12,660 - city taxes

this does NOT include the additional 1% sales tax
nor any of the taxes, and fees for transferring the property (part of 
the closing costs)

This also does not include the rising water and sewage fees
Nor does this include any of the proposed local taxes.


This also does not include points made elsewhere regarding the 
neighborhood, or school.

so... why would anyone buy this place???



M Christine Lamanna wrote:
> HIGHLAND PARK HOME FOR SALE BY OWNER
> 
> 128 HIGH PARK PLACE
> Pittsburgh, PA 15206
> 
> $349,000
> 4 Bedrooms, 2 Full Baths, 1 Half Bath
> MUST SEE!
> 
> 
> County: Allegheny
> School District: Pittsburgh
> Taxes: $6200
> Lot: 54X103X56
> 
> Garage: Integral/ 2 Car
> LR/DR: 24X22- Main Level
> L Shaped Kitchen: 16X10
>                  13X9- Main Level
> Den: 12X9- Entry Level
> Finished Game Room: 33X19- Lower Level
> Laundry Room: 17X7- Lower Level
> Master Bedroom 1: 18X14- Upper Level
> Bedroom 2: 14X10- Upper Level
> Bedroom 3: 12X11- Upper Level
> Bedroom 4: 12X11- Upper Level
> 
> Floors: Ceramic, Wall to Wall
> Cooling: Central
> Heat Type: Gas, Forced Air
> 
> Sunny, Large Eat in Kitchen, Dining Room/Living Room Combination, 
> Wonderful Finished Family Room on Lower Level, Great Enclosed Backyard 
> with Deck, Cathedral Ceilings on Main Level
> 
> Best Lot on Street!
> End of cul-de-sac
> Nicely landscaped
> Walking distance to park and bus line
> Wonderful neighborhood!
> 
> Conatct Information: Jim Lamanna 412-760-5108
> 
> 
> Christine Lamanna
> Audit Coordinator, Sponsored Projects Accounting
> Carnegie Mellon University
> 5000 Forbes Avenue
> Pittsburgh, PA  15213
> 412-268-4549 phone
> 412-268-7068 fax
> 

Wow, the voice of reason finally speaks.  I was beginning to wonder if
I was the only one that thought that real estate prices were
completely unreasonable.  I don't see how these prices can be
sustainable in a stagnant (at best) economy.  A little appreciation is
to be expected, but a quick look at listings on Howard Hanna or
Coldwell show asking prices of well over 180% of the last sale price
(which is often less than 8 years ago).  Add to that the headache of
poorly done reassessments, skyrocketing property taxes,  condo fees
(if you're looking at condos)... needless to say after crunching the
numbers and looking at some properties with their eye-popping asking
prices, the rent for my 1 bedroom apartment didn't seem bad at all. 
The price of real estate has FAR outpaced the benefit of low mortgage
rates.


"Fetch, Rover, Fetch" <Fun_Fur@KaNine_University.edu> wrote in message news:<ToednTqQje40rq2iU-KYuQ@britsys.net>...
> 
> so-- a this proposed purchaser would be paying:
> $ 2,160 - income tax
> $10,500 - property tax
> -------
> $12,660 - city taxes
> 
> this does NOT include the additional 1% sales tax
> nor any of the taxes, and fees for transferring the property (part of 
> the closing costs)
> 
> This also does not include the rising water and sewage fees
> Nor does this include any of the proposed local taxes.
> 
> 
> This also does not include points made elsewhere regarding the 
> neighborhood, or school.
> 
> so... why would anyone buy this place???
>

Fetch, Rover, Fetch wrote:

> This also does not include points made elsewhere regarding the 
> neighborhood, or school.
> 
> so... why would anyone buy this place???

My thoughts exactly, I wouldn't want to live and raise a family a shit 
hole like Highland Park at any price... at $350,000 you have to be an idiot.

Paul Galvanek - Ver. 4.0

Fetch, Rover, Fetch wrote:

> This also does not include points made elsewhere regarding the 
> neighborhood, or school.
> 
> so... why would anyone buy this place???

Of course living in Squirrel Hill I should have put this together 
initially... I suppose if you can afford to squander $350,000 on a house 
that's in a neighborhood surrounded by ghettos and projects, you 
probably send your kids to a private school not public and belong to all 
the clich� clubs where you can socialize so you don't ever actually have 
to interact with the people around you.

Paul Galvanek - Ver. 4.0

Doctor Tofu wrote:

> Wow, the voice of reason finally speaks.  I was beginning to wonder if
> I was the only one that thought that real estate prices were
> completely unreasonable.  

The real estate prices in this area are absurd.  Near as we can tell 
they seem to be driven by some parrell-universe economics where in the 
ability of people to buy these things has no impact on price.

58,000 working people leave the area in a 5 year period, prices go up!
Family and household incomes in the region decline, prices go up!
Property taxes go up, price go up!
The average age of residents in the are goes up and the number of people 
in the market for a house declines, prices go up!

The only response from people about the screwy economics in play here is 
that some people believe it still cheaper to buy here than elsewhere...

As if that has anything to do with whether the people living and working 
here can afford to buy the stuff.

Paul Galvanek - Ver. 4.0