The Princeton Review has released its 2010 rankings for “Best Value” colleges and universities. They ranked CU Boulder 5th out of 100 schools as one of the best values available to students seeking a good education at a reasonable price. The schools were selected based on surveys given to administrators and students at more than 650 public and private institutions.
This is good news for CU students; knowing they are getting a good education for their buck. But, it’s even better news for parents who might be footing the higher education bill.
This seems like a good segue into acquiring real estate for your student(s) to live in while studying at our fine university. “Kiddie condos” as they are affectionately called can be a great investment. If your student can recruit paying roomies, this can help off-set the monthly mortgage payment. There are also great lessons to be learned by your student in homeownership and household management.
According to the year-end statistics that we have just finalized, Boulder condo/townhome sales from 1/1/08 to 12/31/08 totaled 742 transactions, and from 1/1/09 to 12/31/09 the total was 624, marking a 15.9% decline. However, during the same time periods, the average sales price showed a 1.1% increase, going from $304,600 to $307,900. These numbers are very strong if comparing Boulder to the national market.
Forbes housing reporter and analyst Francesca Levy makes some thought-provoking predictions in the latest issue of the magazine. She predicts, “Real estate will be an attractive investment strategy in 2010 with wealthy investors devoting an increasing segment of their portfolios to it.” So, if your pocketbook allows it, investing in real estate during your student’s college years can be profitable.
YOU HAVE 105 DAYS LEFT TO TAKE ADVANTAGE OF THE HOMEBUYER TAX CREDIT.
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