Top 10 College Towns for Buying Foreclosures
- <p class="p1">
For real estate buyers who have the cash and credit to take advantage of historically low mortgage rates, there is one market type that tends to be more resilient than others: the college town.</p><br />
<p class="p1">
Established, big-name universities, with their steady and ever-replenishing supplies of new students, faculty and administrators, virtually guarantee tenants and future buyers. Additionally, more retirees are choosing to move to college towns for the cultural amenities. Of course, the downsides for home buyers, particularly investors, are that renting in college towns is a somewhat seasonal business, with a summer decline, and there's always the threat of keg-party damage.</p><br />
<p>
<em>Foreclosure sales data compiled by</em> <a href="http://www.foreclosurenewsreport.com/" target="_blank">Foreclosure News Report </a><em>for the first half of 2011.</em></p>
- <p>
The College Town of: <strong>Stanford University</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>94</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$350,886</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>69%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>17%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>Ohio State University</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>999</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$57,700</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>58%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>17%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>University of Louisville</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>889</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$84,495</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>51%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>25%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>Northwestern University</strong></p>
<p>
</p>
<br />
<p>
Amount of properties sold: <strong>74</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$190,930</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>47%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>24%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>Louisiana State University</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>221</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$115,043</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>45%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>14%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>University of Arizona</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>3,068</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$116,916</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>41%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>50%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>University of Tennessee</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>431</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$108,595</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>41%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>8%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>Florida State University</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>339</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$112,790</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>35%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>29%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>Texas Tech University</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>74</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$91,454</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>33%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>5%</strong></p>
<p>
</p>
- <p>
The College Town of: <strong>University of Michigan</strong></p>
<br />
<p>
</p>
<p>
Amount of properties sold: <strong>130</strong></p>
<br />
<p>
Average price of foreclosures: <strong>$181,766</strong></p>
<br />
<p>
Percent below the average price of properties: <strong>31%</strong></p>
<br />
<p>
Percent of foreclosures from all home sales: <strong>24%</strong></p>
<p>
</p>
- <p>
<style type="text/css">
.hpgText .interiorPromo {display:none;} </style>
</p>
<p>
<a href="http://www.dailyfinance.com/2012/03/28/the-hair-index-what-your-cut-says-about-the-economy/">The Hair Index: What Your Cut Says About the Economy</a></p>
<p>
<a href="http://www.dailyfinance.com/2012/03/13/greek-default-the-biggest-in-history-no-problem-bernanke-says/">Greek Default the Biggest in History? No Problem, Says Bernanke!</a></p>
<p>
<a href="http://www.dailyfinance.com/2012/02/25/taxing-cinema-the-irs-goes-to-hollywood/">Taxing Cinema: The IRS Goes to Hollywood</a></p>
