Most Affordable Homes in College Towns

" Discussion about real estate lately right we know the price is around the country has still been pretty much falling maybe stabilizing someplace but where can you get a good place to live. At a good price and may be better protect your real estate investment want to go back to school. Released a college town Coldwell Banker releasing any college home price comparison index so and at school centric areas. Have more affordable homes joining us Coldwell Banker presidents you know Jim. Gillespie. -- and they didn't think so we what if you're gonna buy a home. You probably want to look in a college. Well depends on you know on on what you're looking for them and what we've found is three reasons why people like to go back to college towns one is like myself. I just purchased a home in my alma mater University of Illinois is -- like to go back to football basketball games and season ticket holder. So -- and -- with hotel rooms have purchased a little Condo. The person I purchased it from. Purchased at five years ago for his son so that when his son enrolled. His son stayed there and that kept it up very -- wouldn't have purchased it. And the third reason is. Retirees wanted to go back to the era on the mater for the culture. And for the sports and and traditionally. This is this is something that that is starting to to really really take take yeah. We're tired of people want to live around a bunch of Randy rowdy drop college kids not not me -- three miles away from the stadium and I am in a nice quiet neighborhood with my town home. Nothing says keeping yourself young and light shot going to be your day to remember that the final. I don't know what that is what is that -- you better Wake Forest thing. Yeah well yeah since Salem and Blacksburg were -- around -- like what you would like ours is on the list toll isn't allowing yet tired. Yes our our ours -- house. -- we've what we've done with -- study let me let me share with -- what we've done this day we took all the major conferences. 120 college town university towns. And we compared this similar type property four bedrooms two and half as a family room at two car garage. And that property in Champaign where I bought the average would would have been for that -- 229000. In Wake Forest. I think where you graduated from it's 279."

" GM we'd put up the chart and set affordable but affordability is based on. What it costs to rent in an area here and comes in the areas that this is just a list of just prices -- prices for a particular type of the property four bedrooms two and half bad -- of these areas they are more. They -- based on rent and in common then."

" I absolutely like if you're sending your child to Stanford university in Palo Alto that same property would cost just under a million and half dollars yeah I mean and I and I live at a college in New Jersey and it's you know it's it's one of the things I -- I looked into it looked -- past trends. And it seemed there was a lot less. Fluctuation in price in other words are one of the reasons that attracted me to the town. Was that was more -- appear to be more stable. And over time and I've bought I was negative on real estate but I I needed a home. Do they hold their value more well I think that they do because you've got university. Employers and you know that the jobs are very stable there you've got the reasons for for people to come back like myself. With the culture and so forth so we've we've found that most of them of course Stanford is different and USC and UCLA and cal Berkeley. But most of the the ones in our study in fact. 62%. Of the homes that we surveyed were under 250000. Dollars not homes that we surveyed but the markets that we surveyed. And that's pretty pretty good value for. For for the property that I."

" Scribes Jimmy got it. Extension of the yes -- tax well the Senate contest at the Senate passed it the first five and opened it up to more homeowners. Will you now say okay five month extension that's enough I won't ask for anymore that's enough I want to ask for anyone thinking."

" Gillespie's CEO of the -- Jim thanks very much thanks guys."