Arizona Real Estate Specialists

"How is campus housing doing?" I was asked recently. Hmmmm.... funny you should ask.

"By 2020, Arizona State expects its student count to jump nearly 60% to 100,000, competing for just 22,500 campus beds."

This is one line that from CNN Money's July 22, 2008 report "In Bruised REIT World, Student Housing Defensive Bright Spot" ... it's also a harsh reality facing today's college student.

Today's student is most likely going to rent an apartment or live in a dorm. Few will be able to (or will desire to) purchase a home. I work with parents of students who have seen an opportunity. They can purchase a home for their student; rent the other rooms out and turn the expense into an income opportunity.

Is there a market at Arizona State University? Here's another line from the report, "The first tenants won't move into Vista del Sol in Tempe, Ariz., until next month, but its nearly 2,000 beds have been preleased for months. Cancellations aren't a concern: There's a lengthy waiting list."

Is there a market near your University? Let's see... quoting again "As the population swells and the majority of high schoolers seek degrees, enrollment is projected to hit 20.4 million, up 42% in 25 years"

Colleges and Universities aren't going away. Wherever there is a growing campus there is scarcity. Scarcity drives up prices. Though students have a limited income they also need a place to live. During this market downturn, housing prices are down- even near the universities.

There are great buying opportunities for those willing to put the time into finding them.

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Chuck Willman is a real estate agent based in the Phoenix metro area.

www.AZvest.com  -  480.292.0600

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photo credit: Clifford Wong, "More shots around ASU 4"