It is going to take some time for that market to get back to where it should be after the over development this is common in Multi and commercial development.. at least what I have seen over the years  lag time is  so long to get permitted what is wild is when you see buildings that stop before they are finished.I remember a day in Honolulu there were foundations all over the place and see throughs.Vegas still has some and one huge one on the strip still sitting there 11 years later.in Portlandia we had half a dozen were the big underground parking structures were built started to go vertical and financing was stopped.. those have in the last 3 to 4 years though finally been finished but they sat there mothballed for half a decade. 

The house was built in the 1920s and needs some updating on the inside (its last been updated in the 80s).

Was out of town on vacation so haven't been able to comment.

Are you looking right in State College or an outlying town? 

From bars and restaurants around Cleveland to schools he opened in Akron, he has made a HUGE impact on the town and surrounding areas.

Also, in the meantime while that reserve fund is being built up you will need to have an agreement in place.

Looking at an REO house in the country about 6 miles from town.

I am currently residing in a midwest city as I got a new job and decided to sign a 6 month lease while figuring out if I like the job, town, etc.

If the University is a driver in town they would know.  

An economic anchor is something that supports the local economy and is not going anywhere even during an economic downturn.Question: Hypothetically speaking, if the average commute to work of residents who live in a desired market is 25 minutes and a major university or hospital is 23 minutes away, but is located in the next town over... can the hospital or university still be considered an economic anchor?