Gimme shelter: Non-traditional users fill local buildings, an article from the Colorado Springs Business Journal, reports that area brokers are being increasingly challenged to find new uses for so-called “white elephant” buildings.  Help is available from national organizations such as the National Clearinghouse for Educational Facilities, the Urban Land Institute and the American Institute of Architects.  All organizations offer abstracts and case histories outlining nontraditional use opportunities in changing markets.  Owners and listing brokers face challenges attracting new tenants to such buildings including change of zoning and use requirements, retrofitting facilities at today’s rising construction and materials costs, adequate parking and, in some cases, “not-in-my-back-yard” meetings organized by surrounding neighbors.  One local success story is one involving the decision to turn the 150,000-square-foot former Texas Instruments headquarters into the site for a 20,000-square-foot McDonald’s call center, and then into the much larger Mr. Biggs Family Fun Center.
http://www.csbj.com/story.cfm?ID=19944

Renting out your vacation home can have tax advantages, an article from USA Today, reports that according to Christine Karpinski, director of the owner community for HomeAway.com, a vacation-rental website, it's not unusual for vacation home buyers to overestimate the amount of time they'll spend at their homes.  One option to help keep up with the cost of maintenance is renting out your home.  The U.S. tax code also offers generous tax breaks for people who rent their homes.  The biggest break comes if you rent your home for 14 days or less in a given year, you don't have to pay any tax on the rental income, according to Bob Scharin, senior tax analyst for Thomson Reuters.  He said you don't even have to report the income to the IRS.  A great way to market your vacation home as a rental is to use the Internet.  More people are using vacation-rental websites to search for a vacation home.  Also, be certain to study the rental rates for similar properties.

http://www.usatoday.com/money/perfi/columnist/block/2008-05-26-vacation-homes_N.htm

Additional articles that you may find of interest:

SDS deal imminent
http://www.csbj.com/story.cfm?ID=19942

Plenty of ‘For Sale’ signs but not many sales
http://www.msnbc.msn.com/id/24829579/

Home prices tumbled in first quarter
http://www.msnbc.msn.com/id/24839033/

Home Sales Rise in Hard-Hit Areas
http://online.wsj.com/article/SB121184152415621103.html?mod=RealEstateMain_1