Can Real Estate Pick the March Madness Winner?
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RealtyTrac’s researchers think Gonzaga is going to take the championship, not solely because of its talent, athleticism and coaching acumen but because of the fundamentally sound real estate investing in the college’s home county. The metric used to pick Gonzaga is based on unemployment rate, foreclosure discount, gross rent yields and average gross profit on flipping. With these stats, Spokane County, WA, will come out on top with a slightly higher than average unemployment rate of 7.1% and a strong foreclosure discount rate of 27.6% coupled with a nice gross rent yield of 8.4% and a hefty average gross profit on flipping.
Spokane County wins thanks to an average gross profit return on property flips of $64,704—compared to $47,657 for its opponent in the real estate investing championship game, Hamilton County, OH (home to Xavier University, pictured). RealtyTrac’s final four: Gonzaga, Xavier, West Virginia (Monongalia County) and OU (Cleveland County). Housing markets in college towns, or at least the neighborhoods surrounding a university, tend to be favorable for real estate investing thanks to a steady stream of potential renters and a solid source of potential buyers with well-paying jobs.