Tag Archives: Invest

UPDATE: 791 Killarney Dr in Castle Shannon has been SOLD!

DHREA 30/11/2018

 

This wonderful home sitting in the Keystone Oaks school district is off the market! Congratulations to the buyer!

 

 

Connect with nearly 600 other Real Estate professionals! Join Alex Deacon’s Real Estate Workshop group on MeetUp.com! Click the box below!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
589 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

 

 

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Buying a starter home? Here’s what you need to know!

DHREA 28/11/2018

Many first-time homebuyers, especially in competitive markets, end up in starter homes as a part of their first foray into the real estate market.

The idea of a “starter home” goes back to World War II. After veterans completed their service, they returned home and took advantage of a provision in the G.I. Bill that guaranteed them affordable mortgages. The increased demand caused a housing boom, specifically for smaller, low-cost homes where the veterans could start their families.

Historically, these properties tend to be smaller in size than one might expect from a single-family unit, but the idea behind them is two-fold: these smaller properties help introduce individuals to the responsibilities of homeownership, while also serving as a launching pad– something to help a homeowner build equity before eventually moving on to a bigger and better property.

What to look for in a starter home

If you think you might be in the market for a starter property, here are some features you’ll want to keep in mind:

Affordability

Since this is your first time worrying about a mortgage payment, you might not be able to borrow as much, or you may not feel comfortable doing so. As the buyer, you’ll want to ask your lender to work up closing costs for you until you feel confident that you’ll be able to confidently make your payment each month.

Size

Starter homes tend to be much smaller than other homes on the market, both to keep costs down and upkeep manageable. As you look at homes, think seriously about how much space you truly need. Often, just one extra bedroom is more than enough room for first-time buyers.

Upkeep

Townhomes and condos are particularly popular options as first-time homes because they allow buyers to experience a lot of the positive aspects of homeownership without too much responsibility.

If you’re in the market for a living situation where much of the home maintenance is taken care of for you, a condo or townhome may be a good option. Just be sure to research the specific services that each community offers, as well as any associated fees.

Resale value / income potential

Since starter homes tend to be more of a stepping stone than a permanent solution, many first-time buyers go into to the purchase with a vague idea of what will happen once they outgrow this phase of their lives. Whether you’d rather sell the property or keep it and rent it out for passive income, the ability to attract future interest is key. For this reason, most starter homes are located in popular neighborhoods, with easy access to amenities like restaurants, bars, and public transportation options.

Should you buy a starter home?

While, ultimately, only you can decide whether or not now is the right time for you to join the real estate market, here are a few signs that you might just be ready to take the jump into first-time homebuying:

You’re financially stable

Even though starter home values are lower, you should still have a stable income, a handle on your debt and credit rating, and some amount of savings to put towards a downpayment. Additionally, you feel comfortable with the idea of being able to handle a monthly mortgage payment, as well as any unforeseen maintenance expenses that could crop up.

You’re settled (for now)

Even though your starter home probably won’t end up being your forever home, it’s still much more permanent than simply signing a year-long lease. Before you get your heart set on buying, you should double-check to make sure that you feel comfortable maintaining your life- your job, social circle, and surrounding area – as-is for the foreseeable future.

…But not too settled

These days, people are starting their path to homeownership later in life. If you’re in a place where you’re almost ready to start a family and you have a decent income, it may make more sense for you to keep saving and skip the starter home in favor of a larger property that will allow you and your family to grow as needed.

You’re willing to compromise

Too often, buyers are surprised to find that their starter home budget isn’t nearly enough to get everything on their wishlist.

Homeownership, especially in the first-time home bracket, is bound to come with a certain degree of compromise. Ideally, when you’re ready to make a purchase, you’ll be able to focus on foundational details like the home’s location and square footage rather than aesthetics. Those surface projects can often be changed to your tastes over time as you settle in.

This article originally appeared on OpenListings.

 

We’re almost at 600! Join Alex Deacon’s real estate networking workshop group today, and connect with nearly 600 other real estate professionals. You’ll also be the first to receive updates on Alex’s monthly workshops!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
589 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

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Tara Mortgage Tuesday: The Housing Market is Hot in the New Boomtowns

DHREA 20/11/2018

(Every Tuesday we feature a blog from one of our fantastic affiliates, Tara Mortgage Services!)

 

Boomtown -a town undergoing rapid growth thanks to recent prosperity.

It was not that long ago that we saw a migration of businesses moving operations overseas or across the border to Mexico due to the cost of running a business. Now, we’re seeing something similar with renters and homeowners.

Why Homebuyers Are Choosing New Boomtowns

The cost of living in cities like New York, Los Angeles, and Miami has risen astronomically. Anyone looking to buy their first home or upgrade to something bigger in these areas will find themselves in shock when they see how little their money can buy.

For example, in Los Angeles, it’s not unusual to find a tiny 650f sq ft apartment rent for $1500 a month –not including utilities. The cost of living in New Haven, CT is over 11% higher than the rest of the country.

How much does it cost a family of four to live comfortably in the Boston, MA area? Just about $9,500 a month!

Property taxes are one of the reasons that current homeowners are deciding to move out of higher-priced areas to these secondary boomtowns.

Republicans recently overhauled taxes in several states, which eliminated a lot of the tax benefits homeowners received. Without these benefits offsetting the higher-than-average mortgage, homeownership in these areas just doesn’t make sense.

 

Not Trading Down

On a positive note, homebuyers that are choosing these secondary boomtowns are not seeing it as a “trade down” from their ideal location. In fact, they see it as an improvement to their quality of life and even an opportunity to be part of the prosperity-building.

Secondary boomtowns such as Nashville, Sacramento, Tampa, and Austin have all the perks of big city life with family-oriented entertainment, trendy restaurants, art and culture, and career growth opportunities but with less traffic, competition, and cost.

Also, unlike higher-priced areas, most of these secondary boomtowns are dedicating more to residential development rather than commercial. The lower cost of living also gives homebuyers more options as to whether they want to buy in the city or in the suburbs right outside the city.

If you’re a current homeowner in a higher-priced area, it’s still a great time to sell and move! Despite the higher home prices and recent mortgage rate increase, these areas remain desirable and home sales have not slowed down by much.

Secondary boomtowns are experiencing rapid growth and we expect home prices are likely to follow. If you’ve been thinking about buying a home, now is the time! Contact Tara Mortgage Services today to get pre-approved fast and start your new year in a new home!

Join nearly 600 other real estate professionals in Alex Deacon’s Real Estate Networking Workshop group on MeetUp.com! Click below!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
589 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

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Beautiful brick home at 209 Augusta in Mt. Washington is SOLD!

DHREA 28/09/2018

This wonderful brick home at 209 Augusta in Mt. Washington has been sold! Congratulations to the buyer!

 

 

 

 

 

Alex Deacon’s next Real Estate Workshop is a can’t miss! Click below for details regarding our special guest speaker Josh Caldwell, and to RSVP to Alex’s most requested event!

How to find and analyze my next RE Investment

Saturday, Oct 13, 2018, 10:00 AM

Hampton Inn Bridgeville
150 Old Pond Rd Bridgeville, pa

26 Members Attending

This is our most widely asked for workshop. We do this a few times a year and it will contain the steps you can take right now with very little experience. You can implement these steps and start using them in your day to day investment journey. We will discuss and hit on a few very important ideas on how to do the following 1. Where to look for …

Check out this Meetup →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

 

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Contingent! 209 Augusta St in 15211!

DHREA 10/09/2018

Sitting only 2 blocks from Grandview and another great flip opportunity for the client, this fantastic ranch on Augusta St in Mt. Washington is now contingent!

Join Alex Deacon’s Workshop group on MeetUp.com for the latest updates on his free workshops, and the chance to connect with over 500 real estate professionals!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
510 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

 

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

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#UnderContract: Multi-Unit/Grand Home at 307 2nd St in 15139!

DHREA 08/09/2018

This wonderful property with enormous upside in Oakmont is now under contract! Click the above picture for full property details!

 

We’re officially over 500 real estate professionals in Alex Deacon’s Workshop group!!! Click the box below and network with like-minded individuals, and be the first to gain access for information on Alex’s next workshop! 

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
510 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

 

 

 

 

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Alex Deacon’s Monday Morning QB: What Areas To Invest In Pittsburgh’s Hot Market

DHREA 29/01/2018

Every Monday we’ll be bringing you one of Alex Deacon’s fantastic blogs from his biggerpockets.com profile. (Give him a follow while you’re there!)

This week, “The Deacon” discusses which areas of Pittsburgh to invest in:

“One question or comment  I hear quite often from investors all over the world is Pittsburgh is the next high tech city, and the place to buy rental property. I do understand that there are some large companies that have moved some of their operations to Pittsburgh, but overall the population growth in Pittsburgh is stagnant (even declining). Allegheny county is also very low. I am seeing a spike in prices over the past 5 years in about 7 different areas of Pittsburgh. I try to focus on those areas but sometimes I feel its too late. I want to get there before the hype. I am trying to hone my skills to sniff out the next hot spot. Things I have been looking for is population growth, rise in sales prices, days on market, rental prices, economic development that may be coming to that area, or the perimeter of the area that could cause a higher than average appreciation.

My point is there is an oversupply of rentals, and overall I have seen rent prices fall in quite a few areas. Don’t get me wrong, I buy heavily in the Pittsburgh market, but its not as easy as you may think. I love the Pittsburgh market but you have to be smart, know your rent values, and buy low and sell high. It’s not rocket science, but some days I think it’s harder than rocket science.”

 

 

 

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