Staying at the Dorm on Campus? POSH! I live at a McMansion!
The high life at college is no longer limited to Babs and Mandy. Bluto and Eric are now enjoying the high-life! Students are now getting access to mansions near campus that feature spiral staircases, hot tubes, gourmet kitchens, opulent baths, morning rooms and manicured lawns. Imagine Neidermeyer’s dismay lamenting about Delta’s new digs!
“Here in Merced, CA, a city in the heart of the San Joaquin Valley and one of the country’s hardest hit by home foreclosures, the downturn in the real estate market has presented an unusual housing opportunity for thousands of college students. Facing a shortage of dorm space, they are moving into hundreds of luxurious homes in overbuilt planned communities” states Patrica Brown in this New York Times article. Three car garages, granite counters, walk-in closets. “I have it all!” exclaims Patricia Dugan, a senior majoring in management at U of C, Merced.
Merced, CA ranks third in the nation in foreclosures. As in nature, it is adapting. Vacant foreclosed homes invite blight, the homes deteriorate, and fall apart. I have seen quite a few homes that were vacant for just a short period of time and I am amazed how quickly they fall apart. Some investors allow the current homeowners stay in the home until the bank moves on the sale. I wish banks would explore opportunities for some distressed homeowners down on their luck to rent vacant homes, thus preserving the home to a degree.
This is an interesting article and recommended reading.
About Chris Weymouth & The Weymouth Group, LLC:
Chris Weymouth, Director, Certified Luxury Home Marketing Specialist, CLHMS and Debbie Weymouth, Manager, have marketed and sold over 4000 homes in Maryland since 1983. Expertly trained and award winning agents, they are leaders for The Weymouth Group at Keller Williams that has been recognized by their peers as one of the best in the business. Chris Weymouth is ranked # 1 at Keller Williams Select Realtors, top 1% in Howard County and Maryland. Serving Central Maryland and all our friends and family for almost 50 years. You can reach Chris at 443-280-1922 or email at firstname.lastname@example.org.
Visit or site, www.TheWeymouthGroup.com for real estate news, real estate articles, luxury real news and detailed reports.
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