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The Perfect Summer House — Mom's
Many younger home buyers are finding it impossible to purchase vacation properties in many locales, considering that a supply-and-demand imbalance, low interest rates and zoning rules that aim to control growth have sparked double-digit price gains in this segment of the market. The National Association of Realtors® reports a 6.5% jump in overall vacation-home prices during the last year, with prices in the Hamptons, NY; Newport, RI; and the Outer Banks, NC, soaring 24%, 35% and 38%, respectively, since 2002. Rents in many of these hot spots have surged as well. As a result, cash-strapped buyers are invading their parents' vacation getaways. While some parents welcome the presence of their children and are willing to pass the properties over to them, others are forced to battle for money to cover maintenance and repairs or work around the kids' schedules in order to enjoy their own vacation retreats. (www.wsj.com)
Wall Street Journal (06/04/04) P. W1; Keates, Nancy; Jeffrey, Nancy Ann
Traditional Living, With a Slightly Modern Twist
Traditional neighborhood developments (TNDs) are mixed-use communities with numerous housing types, stores within walking distance and a multitude of activities. Seniors are especially drawn to TNDs because they offer the opportunity to interact with residents of all ages; and their designs allow older residents to remain active, independent and social. With people roaming about at all hours, seniors also feel safer than they would elsewhere. Some TNDs even feature continuing-care components so that seniors can transition into assisted-living or skilled-nursing units if necessary. In fact, the availability of homes in different price ranges makes it easy for residents to move within the neighborhood to meet their needs. Meanwhile, an Oshkosh, WI-based planning team is currently devising a so-called "Living, Learning and Serving Community" that expands the TND to include on-site university services and other educational programs. Experts believe TNDs integrate home and community better than the typical seniors-only retirement havens, but they advise seniors with limited funds or a love of privacy to seek housing elsewhere. TNDs also are not recommended for those who shun community regulations or neighborhoods that will not be completed for a number of years. (www.csmonitor.com)
Christian Science Monitor (06/02/04) P. 11; Nason, Deborah
Curbside Appeal Yields Green When Home Is Sold
Curb appeal is essential, considering that many real estate agents refuse to show a home to their clients if the landscaping and exterior are in poor condition. "With curb appeal, if the outside of the house has been taken care of, then the impression is, the inside of the house has also been taken care of," notes Maryland-based agronomist Ashton Ritchie. Home owners need not spend too much on improvements, especially since research by HomeGain links higher returns to projects priced between $86 and $2,765. In fact, the study says home owners can reap a 266% return by spending just $432-$506 on landscaping and a 34% return by shelling out about $2,100 on exterior paint jobs. Some appraisers agree that curb appeal itself does not boost property value, but it helps preserve value and lure buyers. Inexpensive improvements that can be completed in just a weekend include trimming plants and bushes; planting colorful flowers; mowing the lawn; installing a new front door and mailbox; cleaning the deck and porch; repairing siding and roof shingles; and resealing the driveway. (www.baltimoresun.com)
Baltimore Sun (05/30/04) P. 1L; Jones-Bonbrest, Nancy
New Federal Aid for Home Buyers
State and local governments will soon receive their share of the $161.5 million set aside for the American Dream Downpayment Initiative, which aims to help first-time buyers achieve homeownership. HUD Secretary Alphonso Jackson believes the initiative will narrow the gap between minority and white homeownership rates and buoy the overall homeownership rate above its current record level of 68.6%. However, Judy Kennedy of the National Association of Affordable Housing Lenders calculates that the $161 million will assist only 16,000 families eligible for the maximum award of $10,000. She is especially concerned about the state of affordable housing now that both the federal HOPE VI grant program and the Section 8 voucher program have been cut. (www.washingtonpost.com/wp-dyn/articles/A10980-2004Jun2.html)
Washington Post (06/03/04) P. E4; Fleishman, Sandra
Dogs Are a New Tool in Battle Against Mold
Many home owners are using trained dogs to locate mold as an alternative to more expensive detection techniques. Pennsylvania Mold Dog, for instance, provides mold-sniffing canines to pinpoint infestations, with home owners spending only about $245 for the inspection and laboratory analysis. Such companies do not offer remediation services, however, due to potential conflicts of interest. Home owners also can identify mold with the help of professionals equipped with hand-held devices or through air samples. (www.ap.org)
Associated Press (06/01/04)
Home for Sale: Luxe Kitchen, Whirlpool, Hospital Access
Many affluent seniors are trading in their traditional dwellings for equity ownership in one of about 60 continuing-care communities nationwide. Equity-ownership arrangements allow healthy retirees to own an apartment or cottage, with access to assisted-living or skilled-nursing care at a discount if and when the need arises. Such communities generally offer a multitude of activities, top-notch amenities and quality care; but buyers cannot make the purchase without a clean bill of health. The costs range from about $100,000 for a studio apartment to more than a million for a villa or cottage, depending on location; and owners also are required to pay sizable monthly fees for maintenance, meals and services. When home owners need assisted-living or skilled-nursing care on a permanent basis, they sell their units, split the profits with the nonprofit association in charge of the community and pay monthly fees for their health care. (www.wsj.com)
Wall Street Journal (06/01/04) P. D1; Opdyke, Jeff D.
House Arrest
The National Association of Realtors® reports that 40% of the 7 million homes that traded hands in 2003 went to first-time buyers as record-low interest rates made homeownership more affordable. The average first-time buyer last year was a married woman in her mid-30s with an annual income of $54,000, while the average veteran buyer was a married man around age 46 who earned nearly $75,000. The U.S. homeownership rate hit 68% in 2002, with the highest rates among baby boomers in the 40- to 49-year-old demographic, more than 70% of whom owned their homes. Those between ages 25 and 29 accounted for 39% of home owners two years ago, and the homeownership rates of the 30- to 34-year-old and 35- to 39-year-old demographics lagged behind as well at 55% and 65%, respectively. Moreover, according to NAR, the number of home buyers between the ages of 25 and 39 slipped 7% per during the last nine years. NAHB economist Michael Carliner notes that higher property prices make wealthier home owners and simultaneously block certain buyers from homeownership, a scenario that is expected to continue as more and more minorities enter the pool of first-time buyers. Meanwhile, NAHB is formulating ways to slash housing costs for low- to moderate-income workers. (www.demographics.com)
American Demographics (05/04) Vol. 26, No. 4, P. 13; Kennedy, David G.
Sniffing Out Termites
Termites cost the nation's home owners more than $2.5 billion in damage every year, but substantial losses can be avoided with annual inspections by licensed pest-control specialists. These professionals use acoustic emission detectors, gas detectors, moisture meters, ice picks, infrared imaging, microwaves, borescopes and trained dogs to identify the sounds, odors, movements and damage associated with termite infestations. Visual signs of termites include thin mud tubes; discarded wings from swarmers; damp or blistered wood; pinholes containing grain-sized droppings; and swollen floors, ceilings or walls that house their nests. There are a number of chemical treatments that can be used to eliminate the problem, ranging in price from $250 to nearly $3,000. Depending on the type of termite, home owners can choose baits, non-toxic boron-laced foam, wood injections, poison gas or soil drenches. Soil drenches offer five years of protection against termites, but the pesticides can seep into wells or waterways in close proximity to the home. Those interested in poison-free treatments can spend between $500 and $6,000 to pump hot air into the home or use high-voltage discharges to electrocute the insects. Preventative measures include keeping foundations dry, quickly repairing leaks, storing firewood away from the residence and above the ground, and frequently cutting shrubs. (www.pbs.org/wgbh/thisoldhouse)
This Old House (05/04) Vol. 9, No. 4, P. 70; Huber, Jeanne
Web Site Teaches Building-Science Principles
The original Houses That Work online site, created by Boston's Building Science Corp. and the Department of Energy's Building America program in 2001, gave visitors access to information on energy-efficient building practices according to geographic region. Houses That Work II is an expanded version of the Web site that offers information on basic building-science principles; R-values, water-absorption rates and other properties of building materials; and climate-specific building designs. The updated site divides North America into eight temperature zones and recommends three building systems for each. A free resource, the site will prove helpful to anyone planning to build a new home or simply hoping to enhance the energy efficiency of an existing property. (www.taunton.com/finehomebuilding)
Fine Homebuilding (05/04) No. 162, P. 24; Pontolilo, Brian
Energy Star, LEED and Commercial Buildings
A pair of strategies designed to make office buildings more energy-efficient is helping transform how people view energy use and environmental issues. The U.S. Environmental Protection Agency's (EPA's) Energy Star program for labeling energy-saving computers has been expanded to include homes, buildings, household heating and cooling systems, appliances, lighting and office equipment. To earn an Energy Star label for buildings, structures' energy use has to be adjusted and compared to similar buildings across the country; buildings in the highest 25% — satisfying industry specifications for temperature and humidity, illumination, outside air ventilation and indoor pollution control — can earn the label. The EPA estimates that Energy Star has helped Americans save more than 100 billion kilowatt-hours of electricity through 2002, and has also averted more than 20 million metric tons of carbon equivalents of greenhouse-gas emissions. The LEED (Leadership in Energy and Environmental Design) approach, on the other hand, is a point-based, nationwide standard for erecting smarter and more integrated buildings, based on five areas — sustainable sites, water efficiency, energy and atmosphere, material and resources, and indoor environmental quality. LEED-NC is a rating method for new construction and major reconstruction projects, while the LEED-EB system, expected to be finalized in 2005, is meant for existing structures and system enhancements, and is performance rather than point-based. One of LEED's prerequisites includes meeting minimum energy performance guidelines, which can be based on local energy codes or the ASHRAE/IESNA Standard 90.1-1999, whichever is more stringent. Data from California's Sustainable Building Task Force reveals that the average premium for green buildings is a little less than 2%, largely due to greater architectural and engineering design time, modeling and time needed to implement sustainable building practices. (www.hpac.com)
Heating — Piping — Air Conditioning Engineering (05/04) Vol. 76, No. 5, P. EGB2; D'Antonio, Peter C.
New Technology Allows PC, E-Mail Searches
Rather than employing various search engines, file management systems and other tools, users may soon be able to use a single system to weed through e-mails, computer files and data bases. Yusuf Mehdi of Microsoft's MSN division calls it "an end-to-end system for searching across any data type." Microsoft, aiming to get an edge over Google and other competitors, plans to roll out the first version of the system before the newest version of Windows is released in 2006. Unlike other Internet search systems, Microsoft's offering will focus on personalization. The system is expected to recognize users who have not signed on, as well as monitor their online movements to create Web pages that best meet their needs. Like Google's G-mail, Mehdi says it could include e-mail advertisements based on message content. However, he notes that "privacy and consumer trust is really a key thing in getting your arms around personalization." (www.seattletimes.nwsource.com)
Seattle Times (05/27/04) Linn, Allison
Tips on Selecting Your First Color Copier
To make sure they make a proper investment, businesses must educate themselves before purchasing their first color copier. Color copiers are much less expensive today than they were even a few years ago — ranging from low-end color ink jet copiers for about $199 retail to high-end machines with listed prices between $50,000 and $60,000. Businesses considering making their first investment in a color copier must determine what kind of copier they need by assessing their current applications and copying needs. In addition to the cost of the copier, businesses must consider the cost of maintenance, ink cartridges and other consumables. Copy volume and output quality are other important factors to consider before making a purchase. Businesses are advised to educate themselves about their copying needs and the features available to them, to discuss their purchase with a copier technician and to request performance demonstrations before investing in a new color copier. (www.os-od.com)
Office Solutions (06/04) Vol. 21, No. 3, P. 34; Cullen, Scott
Bug Bytes
A recent Princeton, NJ-based research firm Kelsey Group survey found that about 25% of shopping-related Web searches are for local products and services, while nearly 64% of Internet users prefer search engines to the yellow pages. Such statistics have precipitated a shift to the Web among small businesses seeking an advantage over competitors. Yet despite plummeting costs for Web design and maintenance — in 1995 it cost an average of $10,000 to have a Web site developed; now it costs $1,200 — research firm IDC of Framingham, MA, estimates that by the end of the year, only about 50% of small businesses in the United States will have their own sites. Fred Folsom, founder of Georgia firm Barnes Exterminating, decided to set up a Web site when a customer informed him that he had nearly taken his business to a competitor listed on the Web. After months of searching, Atlanta-based Interland was chosen to accomplish the task, providing site building, hosting and registering services for $95 a month and maintenance for an additional $35 a month. Such costs are easily recouped by just a single customer driven to the company by a Web search engine. (www.fortune.com)
Fortune Small Business (05/04) P. 71; Taylor, Josh
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