Home-sale incentives help, but price is key

Throwing in a car or boat along with the house may get buyers' attention, but it’s a competitive price that will sell.

By Michele Lerner of Bankrate.com

© Tetra Images/Getty Images

Home sellers in markets around the country these days are sometimes eager enough to get their property sold that they will offer buyers a BMW, a personal watercraft or even a pet to sweeten the deal. Real-estate agents say that while these enticements create buzz, buyers today are more attracted by the right asking price than a gimmick.

"We're in a price war and a beauty contest," says Tony Vehon, broker and owner of Weichert Realtors — Lake Realty in Gold Canyon, Ariz. "Every home has to be priced right and look perfect. After that, a special incentive might drive traffic, especially if you offer something that grabs attention, something a little beyond the norm."Home sellers in markets around the country these days are sometimes eager enough to get their property sold that they will offer buyers a BMW, a personal watercraft or even a pet to sweeten the deal. Real-estate agents say that while these enticements create buzz, buyers today are more attracted by the right asking price than a gimmick.

Over-the-top incentives
Vehon says one of his agents worked with a seller of a high-end house in a vacation-home area.

"The client decided to make the home move-in ready, selling it with brand-new furniture, linens and kitchen gadgets and even a car in the garage," Vehon says. "The house sold, but the people who bought it didn't actually want the car. They asked for a credit on the price instead."

Orhan Tolu, broker for Century 21 Realty Alliance in San Francisco and San Mateo, Calif., says that in high-end homes, buying new furniture for the listing or giving buyers a gift card for $2,000 or $3,000 at an interior design studio can attract attention.

"In order to create some news, the sellers sometimes throw in a Mercedes or a boat if the home sits on waterfront property," Tolu says.

Martha Thorn, a sales agent with The Thorn Collection at Coldwell Banker Residential Brokerage near Tampa, Fla., says sellers in her area have offered personal watercraft along with a property, and one offered a custom-made fishing cart to buyers.

"The house was a $4.9 million mansion on a bluff overlooking the water, and the homeowner had someone make an electric cart that looked a bit like a cross between a wheelbarrow and a lawn mower that made it easy to get fishing equipment from the house to the water," Thorn says.

Not all incentives go along with high-end property. Thorn says one seller included season tickets to the Tampa Bay Buccaneers' football games on a home priced at less than $200,000.

"The buyers were thrilled with the tickets, but that certainly wasn't the reason they bought the house," Thorn says. "The most important thing is always the price."

Linda O'Koniewski, broker/owner of Re/Max Heritage in Melrose, Mass., says she has heard of sellers offering a cat or a dog along with their home.

"The sellers see it as an enticement, but I've never actually seen someone successfully pass on their pet to a buyer," she says.

Seller incentives that work
O'Koniewski says that besides having a home priced to sell and perfectly staged, cash is usually the most effective seller incentive.

"An offer to pay condo fees for a year or so will definitely create some buzz, and at least get a buyer to take a second look at a property," O'Koniewski says.

Tolu says offering a bonus, such as an additional 1 percent or 2 percent commission, to real-estate agents will encourage them to show a property, which can help it stand out in a crowded market.

"Another option is for the sellers to offer their own financing," Tolu says. "Most sellers cannot offer this, but sometimes someone who is retiring and has a lot of equity in their home will be willing to offer financing because they get a decent return on their money."

Thorn says the seller incentives that work most are those that bring traffic to the home, even if the incentive is given to a charity rather than directly to the buyer.

"We've organized charity events at a home that's on the market, with the sellers donating money to the local charity and raising funds at the event," Thorn says. "The event gets people into the home, which increases the chance that someone will see it and want to buy it."

Price is key
O'Koniewski says sellers need to realize that, "no amount of marketing will make a dent if the price is not right. If you are not competitive on the price, you cannot sell your house."

Beyond price, O'Koniewski says sellers should have great photos online and a truthful description of the property.

Vehon says sellers should focus on identifying the appropriate price for their property first, and then work on curb appeal and staging.

"Sometimes clients won't even get out of the car if the house doesn't look good from the outside," Vehon says. "Buyers need a reason to take the next step and go inside the house."

Once inside, buyers expect to see a home in excellent condition that has been staged to show off its advantages, Vehon says.

"The most important thing to remember is that if a house is priced correctly, it can even get multiple offers," Thorn says.

Colorado Springs Ranked in Top 20 Best Educated

MEN’S HEALTH MAGAZINE (Oct. 2011) evaluated the Top 100 Cities to see which are the “Best Educated”.  They looked at high school graduation rate, school enrollment, education level of people over 25 and student loans for adult education. Here’s their results:

1.    Madison, WI

2.    Plano, TX

3.    Raleigh, NC

4.    Burlington, VT

5.    Seattle, WA

6.    San Diego, CA

7.    Honolulu, HI

8.    Fargo, ND

9.    Portland, ME

10. Lincoln, NE

11. Boise, ID

12. Columbia, SC

13. Colorado Springs, CO.

50. Denver, CO.

70. Aurora, CO.

Happy Thanksgiving Everyone

Advice on working with a Lender- Video

Great video about Lending

Why 20% Downpayments Don't Always Make Sense (or Dollars)

by Brien McMahon

RISMEDIA, Tuesday, November 22, 2011— Despite the “doom and gloom” in today’s headlines, in the current economic climate, homeownership is more affordable than ever, thanks to low interest rates and lower home values. For those buyers who manage to have a 20% (or more) downpayment, they believe this will get them the lowest monthly mortgage payment. However, simply because buyers can afford to put down this amount does not necessarily mean they should. Those buyers who have saved enough to put 20%—or more—down on the purchase of a home may want to consider another approach—preserving some of their cash for savings, investing or other purposes. It may sound counterintuitive, but with today’s interest rates and the competitive pricing of private mortgage insurance (MI), borrowers can retain some of their money by putting less money down on a home—say only 10%—and still get a low monthly payment. Real estate professionals have a responsibility to all home buyers to help them evaluate their purchasing power based on existing assets as well as future need. The right counsel can help home buyers leverage their current assets while keeping sufficient reserve for any immediate or future financial needs, not to mention all the trips to the local big box hardware store that seem to come standard for any new homeowner. As a real estate professional, you are perfectly positioned to guide prospective home buyers throughout the transaction process. At the very beginning, it is imperative to look at the borrower’s overall financial picture—taking into consideration current cash flow, debt and all future financial obligations. Help your borrower think beyond just their interest rate and downpayment, as these are not the only keys to securing the lowest possible mortgage payment. By having a general understanding of the current financing options, you can better understand what your buyer can responsibly afford, which, in some instances may be more than they think. While you are not a financial advisor, by asking these types of insightful questions, you can help make sure your buyers better frame conversations with their loan officer, thus increasing the value you bring to the table and the likelihood of a positive outcome for all parties. While in the past the adage was, “The more you borrow, the more you leverage,” in today’s financial times, the scenario is much different. Today, borrowers can leverage private MI to put as little as 5% down on a home and still have a competitive payment. And for those potential buyers who have stayed out of the market over worries of declining property values, they can still purchase a home without funneling all of their available cash into the downpayment. By utilizing this strategy, home buyers are able to leverage their current assets, while still keeping sufficient cash reserve. So, while putting 20% down on a home doesn’t always make sense (or dollars), buying at a time of high affordability does. And by understanding the current financing options available to buyers, and helping them discuss what those options mean for their downpayment needs or monthly payments, you can help point them in the right direction with their loan officer, overcome their investment fears and make the sale, all while helping them achieve their goals.

5 things your first home must have

You've decided it's the right time to buy. Here's what to look for in your starter house to make sure it's the right one and to maximize its resale value.

By Claes Bell of Bankrate.com

© Corbis

"We tell people right now that they should plan on staying in a home seven to 10 years," Shuman says.These days, the term "starter home" is a little misleading. It implies a temporary home soon to be traded in for a bigger, fancier model. But because there's no end in sight to the real-estate market's troubles, moving up to a new home won't be easy or quick, says Ken Shuman, spokesman for real-estate website Trulia.com.

What constitutes a good first home is more important now because first-time homebuyers have become a larger share of the market. In 2010, first-time buyers made up about 50% of the total homebuyers in the U.S. market, says Paul Bishop, vice president of research for the National Association of Realtors.

"Just on a dollars-and-cents basis, a lot of first-time buyers made the decision to stop renting and buy a home because it seemed to be the better financial decision," he says. 

The expiration of the federal government's first-time-homebuyer tax credit last year may make the decision to buy a little tougher than it was in 2010. But if you decide the time is right, here are some key things to look for in your starter home to make it the right decision for your family and to maximize its resale value when it comes time to sell.

1. An affordable price
An affordable price on a first home is one of the biggest priorities for first-time homebuyers, and with good reason, Bishop says.

"Unlike a trade-up buyer, they don't have any equity to roll into the purchase of their next home, so coming up with a down payment and the financial aspects of buying a home is the first concern," he says.

Coming up with a firm price target for a first home and sticking to it is the key for first-time buyers, says Scott MacDonald, president of Re/Max Gateway in Chantilly, Va.

"Make sure the house is within your budget. A lot of people try to push it and go for the maximum dollar amount they qualify for, trying to keep up with the Joneses. Stay within a reasonable budget so that you don't overextend yourself and get yourself into trouble," MacDonald says.

High home affordability is making things easier on first-time buyers because so many markets have stagnated or declined in price in recent years, Bishop says. Also helping first-time homebuyers stay within their budget is the wide selection of housing options. The U.S. housing inventory is still larger than normal. As of March 2011, it would take more than eight months to work through.

2. A house for the next 10 years
Because you'll probably be there longer than you think, Shuman says your first home should be able to accommodate not only the family you have now but the one you plan to have over 10 years.

"Have that conversation. If you're just getting married, ask, 'Do we plan to have kids? How many kids do we plan to have? How many bedrooms are we going to need?'" he says. "The biggest bit of advice I can give for a starter home is to really think about what your future looks like."

Shuman says that because many first-time homebuyers do have growing families, space should be a higher priority than fancy features such as granite countertops.

"Because a starter home is usually a smaller home, in today's market especially you don't want to overpay for features and amenities, or remodels, that you're not going to be able to recoup later on," he says.

Quality of space is also important, MacDonald says. While you want to have at least two bedrooms, a lot of bedrooms aren't going to be much help if they're too small to be useful.

3. Location, location, location
Everyone's heard the old cliché "location, location, location," but what does it really mean for first-time homebuyers? Three years after the implosion of the housing market, the keyword is "stability," MacDonald says.

If you're looking at potential first homes in a housing development governed by a homeowners association, one way to assess a neighborhood's stability is to learn the number of delinquencies for HOA dues. A high rate of delinquencies can mean a neighborhood is headed for hard times, MacDonald says."Find a neighborhood that's stable -- where yards are maintained, where there's not a lot of 'for sale' signs, where there's not a lot of 'for rent' signs, where you have longer-term people living in that neighborhood -- because those are the ones that are going to get you the best return later," MacDonald says.

Beyond that, Bishop says first-time homebuyers should seek the same characteristics of a prime location that all homebuyers seek.

• A neighborhood with well-maintained, attractive homes.
• A location convenient to local amenities.
• Proximity to work.
• A quality school district, especially for first-time homebuyers who plan to have children.

4. A history of proper maintenance
Whether a first home has been properly maintained can have a huge effect on your housing costs in the future, MacDonald says.

MacDonald says a few key areas of the home can give you a general idea of whether the previous homeowner was diligent about maintenance. If you see these issues, consider looking elsewhere.

• Rotten trim on the exterior.
• Dirty air-return ducts or a dirty filter in the heating and air-conditioning system.
• A crumbling roof or damaged gutters.

But while a spot check of these features can help you narrow down prospective first homes, a thorough inspection is essential before closing, Shuman says.

"It's pretty important that you have (an inspector) who you really trust -- who you know is going to do a thorough job, who's going to get up on the roof, who's going to run all the water, who's going to look at the electricity," Shuman says. "Do a very in-depth walk-through with them and understand exactly what you're buying."

5. Recent updates in key areas of the home
First-time homebuyers on a limited budget may not get a totally up-to-date home. If you have to choose, Shuman says, prioritize these updates:

• Energy-efficient windows.
• Updated electrical wiring with sufficient outlets.
• A new roof.
• A new water heater.

"When a lot of folks go into a starter home, they don't want to have to put a lot of money into it because they know it's not their home for life," Shuman says. "If you look at what the big budget items are that may come up during the next seven to 10 years and know that you're in good shape on some of those, that's definitely part of the checklist."

MacDonald says there are some rooms in a prospective first home where recent renovations help resale value the most. "Bathrooms and kitchens are the most important pieces of the puzzle when buying a house," he says. "If they have those renovated, or if the house is new or been updated by the previous owner, those are things that give it the most attraction when you go to sell your house later."

Getting a mortgage after foreclosure

There are some additional hurdles for homeowners who have gone through a foreclosure, short sale or bankruptcy, but a little patience and some financial hard work will go a long way.

By Marcie Geffner of Bankrate.com

© Alex Stojanov/Alamy

Still, it's not impossible to buy a home after financial difficulties, says Dan Keller, a mortgage banker with Hometown Lending in Everett, Wash. In fact, Keller says, people who have cleaned up their credit and are otherwise qualified to get a mortgage can buy a home as soon as they have outlasted a prescribed waiting period after the bankruptcy, foreclosure or short sale.Buying a home is a challenging goal for most hopeful homeowners. But for those who have experienced a bankruptcy, foreclosure or short sale, the hurdles are even higher.

Wait a while
The waiting period can last one to seven years, says Kirk Chivas, chief operating officer at First Commerce Financial in Wixom, Mich. The one-year requirement applies to buyers who complete a Chapter 13 bankruptcy, have a spotless subsequent credit history and want to get a new loan insured by the Federal Housing Administration or guaranteed by the U.S. Department of Veterans Affairs. The seven-year requirement applies to buyers who experienced a foreclosure and want to get a new conventional loan that can be sold to Fannie Mae or Freddie Mac.

In between are a number of two-, three- and four-year timelines based on similar criteria and other factors such as whether the buyer's previous mortgage was current at the time of a short sale or the size of the buyer's new down payment as a percentage of the home's purchase price.

Generally speaking, the waiting periods after a bankruptcy tend to be more black and white while the waits after a foreclosure or short sale have more gray areas, Keller says. And in some cases, a waiting period can be waived or shortened if the buyer's bankruptcy, foreclosure or short sale was due to extenuating circumstances or a hardship beyond his control.

Technically, it is possible for a buyer whose prior loan wasn't in default at the time of a short sale to get a new FHA-insured loan with no waiting period, Chivas says. But he adds that he's never encountered anyone in that situation.

Clean credit
Buyers must have very clean or perfect credit histories before they can buy homes after bankruptcy, foreclosure or short sale. A slip-up as small as one late credit card payment could disqualify a post-bankruptcy buyer from some loan programs, even if the waiting period has been completed, Keller says.

"Bankruptcy is a serious word," he says. "If you do it, it's a get-out-jail-free card. But once you get out of bankruptcy, you need to be flawless in your credit. Don't even drop a gum wrapper."

Credit dings can be difficult to sort out for buyers who experienced a loan modification or short sale, in part because, as Chivas says, there's "no consistency" in how lenders report those events to the credit bureaus. Buyers should review their credit reports and correct any errors or clarify the circumstances of adverse items.

Stable employment can be a plus, too, Keller says, noting that some loan programs are more lenient than others. "If there was a gap," he says, "it needs to be explained."

Consult a loan pro
Given these complexities, buyers are advised to consult a loan officer or mortgage broker early on for advice that applies to their situation.

"They may think they're fine, but if they're not talking to a professional, their hopes can get dashed or crushed," Chivas says. "That's why you want to speak to someone as soon as you start dreaming it up in your head" that you want to buy a home after a bankruptcy, foreclosure or short sale.

How to Buy Your Dream House by Age 25 - Video

It is refreshing to see some young folks with their priorities straight and a good head on their shoulders. The Key is SAVING.

Great Promotional Video of Colorado Springs in the 1950's

It's funny to see what has changed and what remains the same.

Tip 12 of 12 Easy DIY Fall Fix-Ups

12. Quick Change: Flush the Water Heater

Sediment build-up displaces water and prevents the heater from operating at full capacity. By flushing the tank once a year, usually before winter, you won't be wasting cash by heating this gunk. Start by turning off the heater and letting the tank cool; then shut off the water supply. If gravity is on your side, connect a hose to the drain cock and run it to a floor drain. If you don't have a drain, send the water to a sink or bucket using a drill pump (a $15 attachment that will suction water out of the heater). Draining 3 gallons is usually enough, but you may have to fill and flush a few times until the water's clear.

Tip 11 of 12 Easy DIY Fall Fix-Ups

11. Quick Change: Set, Then Forget, the Thermostat

It's human nature to fiddle with the temperature on an unusually hot or cold day. But overriding the pre-sets on a programmable thermostat wastes energy and reduces the technology to an old-school rotary dial. Achieve peak performance and save up to $180 a year in heating and cooling costs by keeping the temperature fixed for at least eight hours at a time, such as while you're asleep.

Tip 10 of 12 Easy DIY Fall Fix-Ups

10. Quick Change: Screw in LED Exterior Bulbs

Shorter days mean you need outdoor lights to find your way without tripping. So take this opportunity to swap burned-out incandescents for LED bulbs, which screw right into your existing fixtures. For a bright beam that?s equal to a 75-watt incandescent, try Sylvania's Ultra High-Performance Series LED Narrow Flood, $50; Lowe's. While pricey, LEDs are more durable and use 75 percent less energy than incandescents. They can also last 22 years or more, so you ?may never have to climb a ladder to change a burned-out bulb again.

Tip 9 of 12 Easy DIY Fall Fix-Ups

9. Lengthen Stubby Downspouts

WHY NOW:
Heavy winter rain can cause pooling near your home's foundation if your downspout kick-outs are too short. That water can then infiltrate the foundation and be wicked up the side of the house, wreaking havoc along the way in the form of mold, insects, or rot, says Roger Cook. Telltale signs may be a wet spot in your basement after a rain or widening cracks in the foundation.

HOW TO DO IT:
Attach a flexible downspout extender that's connected to a length of drainage pipe buried just below grade; the pipe should direct water at least 10 feet away from your home's foundation. Rather than sending that diverted water into a dry well or losing it to the storm drain, put it to work by attaching another length of perforated pipe, wrapped in landscape fabric, that'll disperse the water to feed your flower beds. To allow for proper drainage, lay the perforated pipe on a 3- to 6-inch bed of washed stone.

THE PAYOFF:
You're spared $10,000 to $30,000 to jack up the house and replace a rotted main beam, plus $1,000 to $3,000 to repair damaged joists.

Tip 8 of 12 Easy DIY Fall Fix-Ups

8. Patch Cracks in the Driveway

WHY NOW:
Small fissures and holes in asphalt can quickly expand into large gaps and potholes if snow and ice get into them.

HOW TO DO IT:
Wait for a mild day; tar-like asphalt repair products work best when pliable. Clean out loose debris in the hole, and ensure the surface is dry. Using a caulk gun, inject a sealant (try Dupont 7906 Driveway & Repair Caulk, about $18 per four-pack) into the opening. Use a wood craft stick to tamp the sealant level.

THE PAYOFF:
Keeping on top of minor cracks can save you $3 to $6 per square foot to resurface the whole driveway.

Tip 7 of 12 Easy DIY Fall Fix-Ups

7. Replace Damaged Asphalt Roof Shingles

WHY NOW:
Many leaks are caused by a broken shingle or a rusted nail that allowed a shingle to slip out of place. A drip now can become a flood later, and the last place you want to be on a frigid winter day is on the roof.

HOW TO DO IT:
Spot damage from the ground using binoculars, or get a closer look from a ladder at the eaves. On the roof, use a pry bar to loosen the shingles above the one that's broken. Then pry out the nails holding the damaged shingle to remove it. Slip in a new shingle that's the same width, and secure it with nails.

THE PAYOFF:
Catching a leak before it happens can save you $300 or more to repair a ceiling or wall and up to $6,000 for mold remediation.

Tip 6 of 12 Easy DIY Fall Fix-Ups

6. Install a Solar Roof-Vent Fan

WHY NOW:
In winter, trapped heat can melt snow on the roof, which then refreezes, clogging gutters with ice. Water runoff from the roof gets trapped by the dam and eventually backs up the roof, travels under the shingles, and leaks into the house.

HOW TO DO IT:
"The trick is to keep the top and underside of the roof the same temperature," says Tom Silva. One way to do that in unfinished attics is with a solar roof-vent fan that draws in cold outside air through existing soffit or gable intakes and exhausts warm air that?s built up under the roof. Powered by the sun, the fan, which costs about $300, further saves you money in summer by cooling the attic so your air conditioner doesn't have to work as hard.

THE PAYOFF:
You're spared $5,000 to replace rotten roof framing, as well as ceiling and wall damage.

Tip 5 of 12 Easy DIY Fall Fix-Ups

5. Remove Aggressive Vines

WHY NOW:
On brick or stone home facades, climbers with suckers, such as Virginia creeper, pull the lime out of the mortar, creating entry points for water. Vines also hold moisture against walls, which can wreak havoc on wood clapboards, slowing their ability to dry out after a rain and causing rot. If vines get between boards, they can push them apart.

HOW TO DO IT:
"Pull all the vines off, working from the top down; cut them at the base, and dig out the roots," says TOH landscape contractor Roger Cook. To remove any residue left behind on wood siding, do a quick pass with an orbital sander. Come spring, paint an herbicide on any new growth.

THE PAYOFF:
You'll avert having to spend up to $25 per square foot for professional mortar repointing. For wood houses, dodge up to $3,000 to re-side and rebuild a rotted clapboard wall.

Tip 4 of 12 Easy DIY Fall Fix-Ups

4. Seal Exhaust Vents

WHY NOW:
Exterior vents, particularly those for a clothes dryer or a whole-house fan, allow heated air to seep out of your house, while letting cold outside air in.

HOW TO DO IT:
Swap your dryer's louvered or metal flapper-style vent for a Dryer Vent Seal (About $20;Battic Door), which consists of an elbow pipe topped with a plastic cap and shuttle. When the dryer is in use, the floating shuttle beneath the hood rises to let warm air, lint, and moisture escape. When not in use, the shuttle drops down to seal the hole and prevent drafts. For a whole-house fan, construct a simple box-shaped cover out of rigid foam insulation (use foil-type duct tape for the seams) to enclose the fan during cold months, when it's not in use. From inside the house, fit the cover over the fan, and secure it to the frame with adhesive-backed Velcro strips. Just remember to remove the cover before you switch on the fan come spring. This kind of DIY cover can also help insulate in-wall or window air-conditioning units that are left in year-round.

THE PAYOFF:
Vent sealing can prevent 4 percent of your home's heated air from escaping.

Strong demand fuels record high apartment rents

RICH LADEN
THE GAZETTE

Colorado Springs-area apartment rents soared to a record high in the third quarter and are expected to continue climbing as demand for multi-family living remains strong.

The average monthly rent reached $778.35 for the three-month period ending Sept. 30 — nearly $50, or 6.7 percent, higher than a year ago at the same time, according to a report released Thursday by the Colorado Division of Housing and the Apartment Association of Southern Colorado.

The third-quarter rent hike was the biggest year-over-year increase in the Springs in the last decade, said Ron Throupe, an assistant business professor at the University of Denver and the report’s author. It also marked the seventh straight, year-over-year increase in quarterly rents. Year-over-year rents last fell in the fourth quarter of 2009

The biggest third-quarter rent increase came in apartments on the Springs’ southeast side — jumping $87 a month to an average $692.55 from the same period last year, the report showed.

Southeast side apartments typically have some of the lowest rents in the area, but landlords and property owners now are playing catch-up, in part to pay for maintenance they’ve been putting off for years, said Housing Division spokesman Ryan McMaken.

Rents are rising across the area as apartments are filling up; the local vacancy rate fell to 6.2 percent in the third quarter, down from 6.4 percent in the second quarter and 6.6 percent in the third quarter of 2010.

Vacancies have fallen as more troops have arrived at Fort Carson, the local population has increased, more people have moved to the Springs, the number of households is expanding and more jobs have been added, albeit at a slow pace, said Ken Greene of Apartment Realty Advisors in Denver, one of the report’s sponsors.

“Rents will continue to rise,” Greene said. And, he said, it’s possible vacancies will fall to 5 percent or below, which “will certainly spur more rent growth.”

The combination of rising rents and lower vacancies has triggered a wave of apartment construction planned for the Springs area; few new projects have been built in recent years, which also contributed to falling vacancies.

Two projects are under way in northern Colorado Springs and Monument, while Nor’wood Development Group of Colorado Springs has announced plans to build four apartment projects — one in Fountain south of town and three in the Springs with a California-based partner.

All told, those projects would add nearly 1,500 apartments in the Springs area, which currently has about 44,000 units.

The Springs market, which has been absorbing 700 to 800 apartments a year, should have no trouble filling those units, Greene said.

“That really is not enough to overwhelm the market, even in these tough times,” he said.

Read more: http://www.gazette.com/articles/colorado-128249-apartment-quarter.html#ixzz1dLeFBDYk

Tip 3 of 12 Easy DIY Fall Fix-Ups

3. Button Up Interior Doors to the Basement and Garage

WHY NOW:
It's not just the front and back doors that you need to worry about. Cold air can also enter the house through gaps around any door leading to an uninsulated space, such as a garage or basement.

HOW TO DO IT:
Weatherstrip the top and sides, and add an inexpensive door sweep to the bottom. TOHgeneral contractor Tom Silva recommends a wood sweep that you can stain or paint to match your door and that has an attached nylon brush to follow the contours of irregular flooring or carpeting. Sweeps usually need to be cut to size, so be sure to measure the width of the door first. To insulate the top and lock-side jambs, use peel-and-stick high-density foam tape or nail-on vinyl gaskets. For the hinge-side jamb, a premium adhesive-backed strip made of EDPM rubber will retain its shape after years of use.

THE PAYOFF:
For $20 and 30 minutes of your time, reduce cold air infiltration by as much as 11 percent.

Illustration:  Joe McKendry

Door Weatherstripping How-To

A. Apply peel-and-stick or nail-on strips to the door stops on the top and lock-side jambs.
B. Use a peel-and-stick rubber strip for the hinge-side jamb.
C. Secure a brushed sweep at the bottom of the door.