College towns feed second-home craze

Perfect opportunity for son, daughter to live off-campus, maintain your investment

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

If you will be dropping off a college student for the fall term, it might be worth your time to check the prices of homes for sale near campus. Not only have some red-hot markets slowed considerably, but the housing cycle could move back into positive territory by the time your student graduates. Some of the more consistent and stable real estate markets for traditional second homes and rental properties are the residential neighborhoods surrounding established colleges and universities. Why? The school isn't going anywhere, and visiting faculty, staff and students will always need a roof over their heads. According to the National Association of Realtors, not only are recent retirees "buying down" to smaller college towns with their educational amenities and vibrant social and athletic environment, but a growing number of business owners with relatively small groups of employees are also moving to smaller college towns for the convenience of research and a larger entry-level employee...