College Towns- A Good Investment... Spotlight on Tempe, Arizona

Business Week Tempe Stats

In their latest edition, Business Week looked at the real estate market underneath a different microscope. In their Report "Smart Buys in College Towns".

They looked at the real estate market as a whole and then the markets in towns that are home to major univesities. What they discovered is a phenomena that is not lost on many real estate agents:

Properties located near major universities hold value better than those of neighboring cities. 

Tempe is no different. Though prices are down in other valley cities to a greater degree, homes in close proximity to ASU are selling faster and at higher prices than those further away.

The casual reader may come away from reading this article with a misguided impression. It's important to note that  an entire city's results may not reflect the "college town effect". In Tempe homes within walking distance are performing ahead of market while those further away do not enjoy the pull of having a major university nearby.

If you or your child is planning on attending... or is attending Arizona State University, please give me a call. I'm Chuck Willman and I specialize in finding the best deals available. Chuck Willman- 480.292.060 - www.AZvest.com 

 
Posted by Chuck Willman, Arizona Realtor®, ABR, TRC on 04/12/2008 05:34 PM   Comments (6)   ,  
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6 Comments on College Towns- A Good Investment... Spotlight on Tempe, Arizona

Thanks for your post, Chuck.  It caught my eye because I own 2 condos over in the Papago Park just north of Tempe Town Lake and they've done very well for us.  I grew up in Tempe, graduated from ASU and still love coming back to visit.  I'm not in the market to sell, but liked the information you gave on your post.  Good luck

Mike

04/12/2008 05:54 PM by Mike Wochner, Big Bear Lake Real Estate Agent (Coldwell Banker, Mountain Gallery Realtors in Big Bear Lake)

Mike- from one great location to another... it's great to hear from someone with links to the valley. Glad you're having success with your rentals- that area just keeps getting better.

04/12/2008 07:17 PM by Chuck Willman, Arizona Realtor®, ABR, TRC (Gentry Realty & Investments)

Looks like a great investment. Hope it sells quickly.

04/14/2008 06:32 PM by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors)

Gita- homes are selling pretty quickly by Arizona State... I'm guessing other major universities are experiencing the same thing.

04/15/2008 12:05 PM by Chuck Willman, Arizona Realtor®, ABR, TRC (Gentry Realty & Investments)

Chuck, it is true in Tucson also -- I've got appointments with parents coming in starting in about 2 weeks, staggered into June so far.  Mom & Dad always told me that education would pay off! 

04/15/2008 10:20 PM by Kent Simpson REALTOR®, CNS®, AHS®, RECS® (with The Pepper Group™ Diversified Real Estate)

That's very cool news Kent- It's buying season for college housing here as well.

04/15/2008 11:24 PM by Chuck Willman, Arizona Realtor®, ABR, TRC (Gentry Realty & Investments)

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Real Estate Agent: Chuck Willman, Arizona Realtor®, ABR, TRC (Gentry Realty & Investments)
Chuck Willman, Arizona Realtor®, ABR, TRC
Phoenix, AZ
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