More Students Buying Homes In Arizona

The Arizona Republic reports that a growing number of college students are taking the plunge in home ownership individually or as part of a real estate investment with their parents.

The pluses for both parent and student can be enticing: writing off mortgage interest, making an investment in real estate which will hopefully appreciate in value, and allowing students to gain a credit history.

Brad Schmidt, district director of Zip Realty, says the favorable lending environment is one reason parents and students are intent on exploring ownership.

In the past year, there's been a noticeable uptick in such deals by his brokerage firm in the Tempe area. "Anytime you have an opportunity to have a mortgage payment equal to or around a rental payment, it's attractive," Schmidt said. More...