Federal Home Buying Support Still Wanted

According to a new poll by the National Association of Home Builders (NAHB), Americans remain strongly committed to federal support for home buyers.

Roughly 68 percent of those polled said the government should continue to support housing, and 65 percent believe the government should be doing more to keep families from losing their homes to foreclosure.

The poll included both home owners and renters and was conducted for the National Association of Home Builders (NAHB) by RT Strategies, a non-partisan public opinion polling firm based in Washington, D.C. RT Strategies interviewed a representative sample of 1,000 adults nationwide by telephone using live interviewers on January 29-31, 2010. The sample included 170 interviews with respondents from cell-phone-only households.

Among those polled, some key groups said the government should continue to play a vital role in maintaining a healthy housing market. For example, 78 percent of all potential home buyers, including 81 percent of renters intending to buy a home in the near future, said the government should continue to support housing.

Roughly 65 percent of home owners said the government also needs to do more to keep families from losing their homes. Support for more foreclosure protection was not confined merely to current home owners.  Among renters, 84 percent said the government needs to do more to helped strapped borrowers. This issue is particularly important to women, with 71 percent supporting greater foreclosure protection, compared to 58 percent of men.

Financial concerns continue to be the greatest barrier to growth in the housing market.  Among renters nationwide who aspire to own their own home, 39 percent simply don't have the money to buy a home at this time, and another 20 percent said the primary obstacle is that they feel they cannot qualify for a loan. Larger economic issues also play a role, as 18 percent said that job security is the greatest obstacle they face in trying to buy a home.

We'd love to hear from you in response to this survey. Do you think the government should be doing more to keep families from losing their homes to foreclosure? What about government assistance in buying a home, such as the first time home buyer tax credit? Let us hear from you by clicking on the comment link below.

Why Rent When Home Prices Are So Low?

Mortgage rates are at record lows. Home prices are at record lows, and the federal government is offering tax credits for purchasing a home.

Why then should anyone rent?

Home prices and mortgage rates have dropped so much that the cost to own and maintain a house is only a bit more, and sometimes even less, than the cost of renting.

Recently, mortgage rates and home prices are at, or better, than historic averages in 49 of the top 50 home building markets.

Currently, a buyer who qualifies for a mortgage loan can get a monthly mortgage loan payment on a median-priced home at about 15.3 percent of the median family income. The number is far below the 20 percent average from 1991-2008.

However, the key is finding the right market because in some places, home prices remain unaffordable. Some areas however, may be cheaper to buy than to rent.

The federal government’s home buyer tax credit program also makes it advantageous to buy. The tax credit program was passed as part of the government’s stimulus plan. It offers an $8,000 dollar tax credit for first-time home buyers and $6,500 dollar tax credit for existing homeowners looking to upgrade. However, the program is scheduled to expire on April 30. Home buyers are urged to act soon.

At the same time, analysts warn home buyers that if they are planning to buy, stay put for a minimum of five to eight years or risk taking a loss.

Taxes: Most Common Mistakes

With tax time here again, here are some of the most common mistakes people make while doing their taxes. Avoid these to save yourself money, and a possible audit.

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Ways to Save on Home Remodeling

Here are some simple tips to help you save money when remodelng your home.

Have any other interesting ways to save money on home remodeling costs? Share them with our readers by leaving us a comment below. We'd love to hear your ideas.

Ways To Get More Money From Your Home

The freefall in home prices may be over, but the buyers' market persists–there's stiff competition to get a house sold for a good price. In a competitive market sellers need to make every effort for their properties to appear more attractive so they sell for more.

Believe it or not, it's the simple touches–not the big renovations–that often matter the most. HomeGain surveyed 1,000 real estate agents last year to determine which home repairs offer the biggest rewards. After ranking for return on investment, the survey found that cleaning and de-cluttering–including removing personal possessions, polishing woodwork and glass and removing excess furniture–is the most important. Spending $100 to $200 tidying up can increase a home price by $1,500 to $2,000.

Certain renovations can also add value, but they don't have to be major overhauls. One simple suggestion would be to install a new front door. It's an inexpensive exterior improvement. Also consider replacing worn-out siding. New fiber-cement siding will generate the best return on investment, but vinyl siding will work for those with smaller budgets.

Pre-sale home inspections have gained traction in the down real estate market because sellers are trying anything and everything to outdo one another. With a heavy supply of houses on the resale market, a pre-sale inspection can provide extra assurance that there won't be any surprises after signing the sale contract.

Sellers needing to move quickly should remain focused on the basics, neutral paint jobs and replacing or cleaning carpets. That could be the difference between a signed contract and the for-sale sign remaining on the lawn.