Pittsburgh is still a hot real estate market. The average housing price was $182,000 and sales were up 7 percent in the third quarter, according to the West Penn Multi-List. Year-end sales had not yet been totaled.
But what about the properties featured in Buying Here? Our annual roundup shows that some affordable homes sold quickly in 2018 while multimillion-dollar estates are still looking for buyers.
The high bid will take a nearly 200-acre estate in Ligonier’s hunt country that was featured in early December. Originally listed for $7.5 million, Woodmere will be sold in a no reserve auction on Thursday through Platinum Luxury Auctions.
The main house has five bedrooms, five bathrooms, one powder room and 9,310 square feet of living space. A video also shows the four-bedroom guest house, a three-bedroom staff house, a three-car garage and a chicken coop. Along with approximately 7 miles of walking trails, a stream and 10 ponds stocked with trout, bass and catfish, there is a shooting range for clay pigeons.
The no reserve auction will take place at the Four Seasons Hotel in Chicago. Real estate auctions are usually held at the property, but in this case the owner is also selling homes in Florida, New Mexico and Colorado.
Trayor Lesnock, a Pittsburgh native who is president of Platinum Luxury Auctions, said about half of the property auctions he handles have a reserve, which means it’s not sold if bids don’t meet or exceed the reserve price.
Bidders can bid in person or by phone but phone bidders must have a representative there and meet these conditions: By 5 p.m. Wednesday, submit a refundable deposit of $100,000 via wire or a cashier’s check, and fill out a terms of sale agreement, which can be found at www.platinumluxuryauctions.com.
“Bidders can also submit an opening bid. It is not required, but they will receive a 10 percent discount on any opening bid they provide,” Mr. Lesnock said. “It is applied to your winning bid.”
Read the full Pittsburgh Post Gazette article by Rosa Colucci HERE.