Saturday Reporter-Herald October 23, 2010 E1
Real Estate Matters
www.homeandrealtyguide.com • Saturday, October 23, 2010 • Reporter-Herald
Cash for Clunkers a huge success
Appraisal problems kill chance at low interest rate ILYCE GLINK REAL ESTATE MATTERS
H
ome buyers and owners across the country are having appraisal problems. Some buyers are denied mortgages because the properties they want to purchase have been appraised for less than the agreed upon price. Many owners trying to refinance are being rejected because lower appraisals are eliminating the equity they need to qualify for new loans. I recently received a letter from a homeowner whose house appraised at $187,000 two years ago. Three weeks ago, the same property appraised for just $127,000. The homeowner wanted to refinance a first and second mortgage into a single primary loan. The owner is seven years into his first mortgage (a 15-year fixed rate mortgage at 5.375 percent), and four years into the second mortgage (a 15-year fixed rate loan at 7.84 percent) The homeowner still has enough equity to qualify, but the new loanto-value ratio is 81 percent, and the lender has offered a 30-year loan at 4.78 percent and wants to charge the borrower private mortgage insurance (PMI). I See Glink /Page E4
Inside this week’s Home & Real Estate
NoCo Air gives customers the chance to win $750 cash
T
he second Cash for Clunkers program through Northern Colorado Air is currently taking place after the great success of last year’s contest. Through Jan. 14, 2011, customers replacing their furnace will be eligible to win $750 cash if their furnace is the oldest the company replaces during the contest dates (Sept. 13, 2010-Jan. 14, 2011). The oldest furnace replaced during last year’s contest was built in 1956 and came from Emmanuel Baptist Church in Loveland. This is a great time to replace that old furnace. The combination of a $1,200 rebate on selected Lennox products, the federal tax credits of up to $1,500 and additional rebates through Excel Energy and the state of Colorado, customers have the opportunity to save up to $3,520 with the installation of a new heating or cooling system. Customers can further lower the cost of heating bills with the installation of a high efficiency home comfort system. But act soon; the Lennox rebate ends November 30, 2010. Ensure that existing heating and cooling systems are running at peak efficiency by signing up for Northern Colorado Air’s Planned Maintenance Program. Heating and cooling equip-
Real Estate Transactions Listings from Front Range properties recently sold
Page E2
Realtor of the Week Mark Koentopp Broker/Associate RE/MAX Alliance
Page E3
Director y
ment needs regular maintenance just like a car. The Planned Maintenance Program helps schedule same-day priority service so you have one less thing to worry about. The program includes a check and service of the cooling system in the spring, and heating system in the fall by NATE certified professionals. The Planned Maintenance Program means access to special products and a 10 percent discount on parts and labor, lower utility bills by achieving peak efficiency, extension of equipment life — overall peace of mind. Northern Colorado Air is a family owned and operated business established in 1992. The company has a Better Business Bureau A+ rating and is actively involved in the community, participating in City of Loveland’s Corn Roast Festival for the past five years. Celebrating and supporting the local community means taking care of customers. A loyal Northern Colorado network has kept business booming for Northern Colorado Air. To learn more about Northern Colorado Air’s Planned Maintenance Program, Cash for Clunkers program or answers to any of your heating and cooling questions, call 970-669-2055 or visit www.ncagriff.com.
RH Photo/Chuck Willet
Jeff Richard, General Manager of Northern Colorado Air, presents Pastor Bob Garner from Emmanuel Baptist Church of Loveland with a check for $750 as part of the company’s Cash for Clunkers program. The church won last year’s contest. The church’s furnace, built in 1956, was the oldest replaced during the contest.
W
hether you're moving into a newly constructed home or buying pre-owned, there are some things you should know about your heating and cooling system. How do you know if you have a viable, economic heating or cooling system, or an energy hog that will eat a hole in your budget? Look at the upgrades in HVAC equipment that you can purchase at time of design. NEW HOME HVAC INSTALLATION TIPS • Where will the thermostat be located? On an inside wall with plenty of air circulation is best. • Is there plenty of access space around your heater or air-conditioner? If they are behind a door, is there adequate ventilation? Can they draw air easily, or is their air intake impeded? • Are the systems equipped with insulated pipes? If not, is there easy access to drainage pans to avoid condensation build up that can lead to household mold and mildew affecting your indoor air quality? • Are your heating and cooling systems equipped with easy to locate filters that you can change? Dirty filters diminish your system's effectiveness and energy efficiency — and increase energy costs. • Make sure the heating and cooling systems you install are adequate for your home. One that's too small will strain and not heat or cool. One that’s too large won’t effectively remove moisture from “clammy air," even though it may cool faster. An oversized unit will just run up your energy bill. OLDER HOME HVAC SYSTEM TIPS • Ask to see maintenance bills. • Talk to contractors who worked on the system and ask them about its reliability. • Pay for a heating or cooling NATE Certified HVAC contractor to do a thorough check up of your entire system — just as you would if buying a used car. Have them evaluate the efficiency of the system, and you might save bigger bucks down the road.
RH Photo/Rhema Zlaten
Northern Colorado Air general manager Jeff Richard cleans and inspects a furnace for the fall.
Page E5 t w! redi o t N ax C n
Ac ral T s soo e d Fe
en
d
It’s impossible to save too much money... $1,200 +$1,500 +$ 820
$3,520
Save up to 20% on utility bill
Rebate Tax Credit Utility Rebate Total Savings*
on a heating or cooling system,
but this is pretty close. *Offer expires 11/30/2010. Conditions apply
$89 Furnacee
43-317294
We service all brands 24/7
Check & Service
Find us the Oldest Furnace we pay you
$750
**
Cash for the Oldest Clunker **Valid with installation of a new furnace from NCA between 09/13/2010 and 01/14/2011
www.ncaGriff.com A+
“For Quality Service and Repair, Call Northern Colorado Air.”
669-2055