Pam's Prescott Blog

In my last blog, I explained that buying a house for your child who is attending Embry Riddle University or Prescott College is a no-brainer.  For a nominal down payment using an FHA loan, you can invest in a home,put your child on the title, take in a roommate or two, and make lots of money. With interest rates under 5%, it's hard to go wrong.

Here are some general comments about areas that are close to the school, but you will need to contact your Realtor (preferrably me!) to help you find what's right for you:

Embry Riddle

There are lots of neighborhoods and condominium complexes close to Embry Riddle.  Prices range from $275,000 to $400,000 for larger homes in areas like Pinon Oaks, Golf Links, and Prescott Lakes, and from $200,000 to $300,000 in older areas.  Prices start in the low $100,000's for condominiums and townhomes.

Why stick to Prescott, when Prescott Valley is only 10 minutes away on Hwy 89A?  Older PV areas abound with affordable homes. New communities like Granville, The Viewpoint, and Pronghorn Ranch are loaded with foreclosured homes starting in the $140's and are just a quick shot over to Embry Riddle.  Granville is close to shopping and entertainment and has a great community center with a clubhouse, pool and fitness center.  HOA fee is only $50.00 per month. The Viewpoint is loaded with nice homes under $200,000 and has no HOA fee.  Pronghorn also has nice new homes and a nice community center.  HOA fee and taxes are highest of the three.

Prescott College

Pretty much anything in and near downtown Prescott will do.  Homes are older, smaller, and more expensive, starting at about $150,000 and quickly moving up, though there are lots of choices near the school between $175,000 and $200,000 and with some concessions, homes closer to $100,000 can be found.  Bigger homes in the pines start at about $250,000, though I've seen foreclosures under $200,000.

If you plan on staying here four years, and think buying rather than renting may be a good idea for you, call me.  I'd love to help you!

Pamela Martin....928-899-2472

PamelaMartin@RealtyExecutives.com