October 15, 2012
This morning’s Wall Street Journal has an article on the difficulties of NCAA Division I Football coaches selling their homes as they move from job to job.
The gist of the problem: it’s hard to find a buyer. “College coaches tend to have big homes—often the biggest in their college towns. The head coach’s house is a campus attraction, used to entertain players, recruits, alumni and boosters. That means swimming pools, putting greens, basketball courts, rec rooms, home theaters and large wet bars.”
For example, Ohio State’s Urban Meyer is still trying to sell the house he left behind in Gainesville, Florida. The house is listed at $1.7 million in a community where the average home sells for about $149,000. Says the WSJ, “No homes over $1 million have sold so far there this year, according to real-estate research firm RealtyTrac.”
I’m guessing it’s just as big a problem for Division I basketball coaches.