Our local university, Liberty University is cutting tuition by about 3 percent. The tuition rate of $16,532 for next fall will be reduced to less than $16,000. There may be additional loan programs available to help in this recession. Liberty currently has 11,500 students with projected 2009 enrollment increases of about 1000 for the next few years. Applications are up 24 percent.
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The number of jobs in the Lynchburg regional area actually increased in 2008, good news during a recession. We are starting to see the benefits of having a University that is growing students an average about 1000 a year. Some of these students are choosing to stay here,get jobs or start businesses here.
Parents are beginning to move here after visiting their kids, especially from the over taxed and priced northeast area of the country.
The weather is much more moderate, (no potholes), low taxes reasonable home prices and nice people, plus being gorgeous.
What's not to love here!
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Did you know that in the Lynchburg area there were only 90 foreclosures last year (2008)? That foreclosure rate is double the year before but still very low for the population. I have sold homes here now into my thrid recession. We do see the high increases in prices in good times nor the lowering of prices during recession. The prices in this area are stable. Over the long hawl this area is a much better place to invest if you are in the Real Estate market over the long term.
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Have you seen the latest recommendation for Lynchburg from the real estate expert for the "Today Program"? First on this video for properties to invest in for market stability, is Lynchburg, Virginia. Our sales are way off, not because of wide area lay-offs but because of national market perception. All real estate is local and nowhere is that more in evidence than anywhere, but the east and west coasts where most of the mortgage problems are. Prices here are stable and it is a wonderful time to buy here.
http://today.msnbc.msn.com/id/26184891/vp/29279263#29279263
If you are looking for a gorgeous area of friendly people, an area of low taxes, stable prices, reasonable real estate prices, give me a call!
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