Top 10 College Towns for Buying Foreclosures

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Top 10 College Towns for Buying Foreclosures
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Top 10 College Towns for Buying Foreclosures

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.


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.


Foreclosure sales data compiled by Foreclosure News Report for the first half of 2011.

The College Town of: Stanford University


Amount of properties sold: 94


Average price of foreclosures: $350,886


Percent below the average price of properties: 69%


Percent of foreclosures from all home sales: 17%

The College Town of: Ohio State University


Amount of properties sold: 999


Average price of foreclosures: $57,700


Percent below the average price of properties: 58%


Percent of foreclosures from all home sales: 17%

The College Town of: University of Louisville


Amount of properties sold: 889


Average price of foreclosures: $84,495


Percent below the average price of properties: 51%


Percent of foreclosures from all home sales: 25%

The College Town of: Northwestern University


Amount of properties sold: 74


Average price of foreclosures: $190,930


Percent below the average price of properties: 47%


Percent of foreclosures from all home sales: 24%

The College Town of: Louisiana State University


Amount of properties sold: 221


Average price of foreclosures: $115,043


Percent below the average price of properties: 45%


Percent of foreclosures from all home sales: 14%

The College Town of: University of Arizona


Amount of properties sold: 3,068


Average price of foreclosures: $116,916


Percent below the average price of properties: 41%


Percent of foreclosures from all home sales: 50%

The College Town of: University of Tennessee


Amount of properties sold: 431


Average price of foreclosures: $108,595


Percent below the average price of properties: 41%


Percent of foreclosures from all home sales: 8%

The College Town of: Florida State University


Amount of properties sold: 339


Average price of foreclosures: $112,790


Percent below the average price of properties: 35%


Percent of foreclosures from all home sales: 29%

The College Town of: Texas Tech University


Amount of properties sold: 74


Average price of foreclosures: $91,454


Percent below the average price of properties: 33%


Percent of foreclosures from all home sales: 5%

The College Town of: University of Michigan


Amount of properties sold: 130


Average price of foreclosures: $181,766


Percent below the average price of properties: 31%


Percent of foreclosures from all home sales: 24%

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