March 19th was "match day" for all medical school residents around the country. This is an IMPORTANT "Known" date in many real estate offices around the country where there is a teaching hospital in the area....sort of like the date the old Yellow Page ad listing sales closed used to be in commercial real estate (commercial tenants needed to rent their business address in order to be listed).
Luckily, the University of Virginia Medical School is in Charlottesville and whereas in past match situations, those incoming residents might have bought a home in the area, they are now RENTING because they will only be here 2 to 3 years and they do not want to be caught with an unsold home when they depart the area.
In viewing homes for sale in an area where I have a good inventory of desirable rental homes, I found residents who rented from me 4 years ago and then bought a home...they are leaving the area now after buying at the height of the sales market.....it is doubtful they will get the amount they paid for their home and they will be leaving in the summer - yes, I'll send them a flyer in case they would like to rent their home if they can not sell it....
Just as these incoming residents are a source of residents for my properties, departing Med Center residents are a source of property management clients and listings.....
Wallace S. Gibson, CPM * 45 years of property management experience at your service * Now renting Central Virginia rental homes for the summer, 2009 season.... http://UVAMedCenterRentalHomes.com
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
View our available rental homes online with photos and floor plans
"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous
Good opportunities for you there Wallace... sounds like you have that whole market area sold up. When you see the open door for your profession, it's like an incentive that makes the business all worth while doesn't it?
Diane