When you read the news each day, or watch the cable news shows at night, it’s likely there will be at least one story about the state of the housing market. More often than not, the news is dismal and the stories can be depressing. It’s too bad that the housing bubble bust has created such a negative attitude about buying a house in 2011. But, we think there are reasons to have hope about the housing market in 2012, and we know one good reason why you should buy a house in Tucson, and that’s the University of Arizona!
www.arizona.edu
Of course there are plenty of other reasons why buying a house in Tucson make sense:
- CNN Money recently named Tucson as one of the top 25 best places to retire
- 350 days of sunshine a year
- Two dozen championship golf courses
- Southwestern cuisine
- Plenty of historic places to explore
- Record low mortgage interest rates
- Lowest home prices in years
But we want to write about good old UA because Arizona’s first institution of higher education deserves some ink!
The University of Arizona was founded in the late 1800’s even before Arizona was a US State. It’s home to nearly 40,000 students and offers the only MD granting medical school in the State. The School’s business and management programs consistently rank well in the US News and World Report’s annual lists, and it is considered a world-class research facility. According to the UA website, the University “generates $530 million in research and gives the state an annual $2 billion boost.” And, of course, who hasn’t shouted out “Go Wildcats” at least once when watching one of the sports teams play?
As if we haven’t given you enough good reasons to buy a house in Tucson, there is yet another one, and that’s as an investment when you make it a student rental property. As Michael Zaransky, co-CEO of Prime Property Investors and the author of Profit by Investing in Student Housing: Cash In on the Campus Housing Shortage was quoted in an AOL real estate investing article,
“The key to the success of the student housing niche is that the tenants’ ability to pay rent isn’t tied to their having jobs. In most rental situations, renters leave when they lose or change jobs. A vacant apartment is a siphon hose to an owner’s bank account. But when it comes to students, there is a steady stream of them; those who graduate in June are replaced with new faces in September. College enrollment has been up, no one is building new on-campus alternatives and, even in communities with rent control, the turnover is so rapid that the laws don’t seem to curb rental income growth.”
The University of Arizona is a great place to attend college or graduate school and Tucson is an even better place to live or eventually retire. Give us a call because we have some really great properties to show you whether you want to move to Tucson now or just want to make a good investment!
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