Opening:

Today we are talking Pittsburgh, Pennsylvania in our Market Focus. Coming up we are going to zero in on the Pittsburgh market and I talk to four of the movers and shakers getting it done in Steel City USA. The economy is roaring, the real estate market is hot, home prices are up and continue to increase, everything is looking rosy in Pittsburg. If you have the Flipping America app, you’ll have access to all of our research, but rather than hear me read you the research, let’s talk to the actual people. 

Here we go, Alex!

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Announcements:

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Topic: PIttsburgh, PA

Pittsburgh

https://en.wikipedia.org/wiki/Pittsburgh

Market Summary:

There are currently 1,451 properties in Pittsburgh, PA that are in some stage of foreclosure (default, auction or bank owned).

In April, the number of properties that received a foreclosure filing in Pittsburgh, PA was 14% lower than the previous month and 2% higher than the same time last year. 

Home sales for March 2019 were up 0% compared with the previous month, and up 0% compared with a year ago. The median sales price of a non-distressed home was $0. The median sales price of a foreclosure home was $0, or 0% higher than non-distressed home sales.

Foreclosure Rates for Pittsburgh:

1 in every 1864

Top 5 zips: 

15235 – 1 in every 591 Highest rate

15204 – 1 in every 668

15223 – 1 in every 829 

15210 – 1 in every 931

15218 – 1 in every 1253 Lowest rate

Demographics: http://worldpopulationreview.com/us-cities/pittsburgh-population/

US Demographics: https://en.wikipedia.org/wiki/Demography_of_the_United_States

Real Estate Market Trends – Pittsburgh: http://www.noradarealestate.com/blog/pittsburgh-real-estate-market/

https://www.trulia.com/real_estate/Pittsburgh-Pennsylvania/market-trends/

USA Real Estate Market Trends

https://www.globalpropertyguide.com/North-America/United-States/Price-History

The nation’s hottest housing markets

https://themortgagereports.com/50802/the-nations-hottest-housing-markets-is-your-city-one-of-them

Real Estate News–

Local News (Atlanta)

Atlanta Fed President Bostic does not see a rate cut this year like the market is telegraphing

https://www.cnbc.com/2019/05/20/atlanta-fed-president-bostic-does-not-see-a-rate-cut-this-year-like-the-market-is-telegraphing.html

Fed speakers could steal focus from trade war in week ahead

https://www.cnbc.com/2019/05/17/fed-speakers-could-steal-focus-from-trade-war-in-week-ahead.html

JP Morgan slashes second-quarter GDP forecast to just 1%

https://www.cnbc.com/2019/05/24/jp-morgan-slashes-second-quarter-gdp-forecast-to-just-1percent.html

Stocks close lower as tech takes brunt of trade tensions

https://www.marketwatch.com/story/stocks-poised-to-start-the-week-lower-as-trade-tensions-persist-2019-05-20

National News

Tech Hubs giving cities a Real Estate Boost

https://www.mansionglobal.com/articles/tech-hubs-giving-cities-a-real-estate-boost-203366

Melinda Gates is funding this Wall Street rebel who is teaching women to invest and stick it to the banks

https://www.cnbc.com/2019/05/23/melinda-gates-is-funding-this-wall-street-rebel-helping-women-invest.html

Home prices hit a record, as higher-end listings dominate this spring’s market

https://www.cnbc.com/2019/04/04/home-prices-hit-a-new-record.html

8 affordable U.S. cities for the middle class to buy a home

https://www.cnbc.com/2019/05/09/affordable-us-cities-for-the-middle-class-to-buy-a-home.html

US housing starts rose more than expected in April

https://www.cnbc.com/2019/05/16/housing-starts-april-2019.html

A $1,000 Monthly Mortgage Is Real—in These 10 Bargain Cities

https://www.realtor.com/news/trends/1000-a-month-mortgage-in-these-10-bargain-cities/

The Amazon Effect: Prices Up, Listings Down Near Its New HQ2 in Virginia

https://www.realtor.com/news/trends/the-amazon-effect-prices-up-listings-down-near-its-new-hq2-in-virginia/

Real estate: 3 challenges facing first-time homebuyers this spring

https://www.usatoday.com/story/money/2019/05/02/real-estate-market-how-buy-home-spring/3563380002/

ATTOM Data Solutions recently released its Q1 2019 Home Sales Report, which broke down various datasets on how the housing market is fairing. 

https://www.attomdata.com/news/most-recent/where-my-first-time-buyers-at/

House passes bipartisan bill that will make saving for retirement easier

International News

Why the worst may be yet to come for stocks as trade war tensions persist

https://www.cnbc.com/2019/05/27/trade-war-talks-could-fail-and-surprise-wall-street-bny-mellon-warns.html

The China trade war is leading to lower mortgage rates for American homebuyers

https://www.cnbc.com/2019/05/23/china-trade-war-leads-to-lower-mortgage-rates-for-americans.html

Wall Street is becoming convinced the trade war is here to stay and will only get worse

https://www.cnbc.com/2019/05/23/wall-street-is-becoming-convinced-the-trade-war-is-here-to-stay-and-will-only-get-worse.html

Celebrity surgeon went ‘all in’ on $180 million Bel Air mansion, then came the high-end housing glut

https://www.cnbc.com/2019/05/22/celebrity-surgeon-goes-all-in-on-180-million-bel-air-mansion.html

Above and beyond: how 3 real estate leaders earned a referral

https://www.inman.com/2019/05/27/above-and-beyond-how-3-real-estate-leaders-earned-a-referral/

Is Intercontinental International Real Estate Investment Company (ATH:INTERCO) Potentially Underrated?

https://finance.yahoo.com/news/intercontinental-international-real-estate-investment-101702619.html

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• “The Pessimist Sees Difficulty In Every Opportunity. The Optimist Sees Opportunity In Every Difficulty.” – Winston Churchill

Expected Air Date: 6/27/19

Pittsburgh, PA