A recent study found that nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That’s according to the 2010 National Housing Pulse survey released last week by the National Association of Realtors®.

The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership.

“The real issue facing the nation’s economy right now is that many Americans can’t find meaningful work to support their families,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “While a job recovery is what’s needed right now to get the economy and housing market back on the right track, owning a home continues to be part of the American Dream and one of the best long-term investments in your future.”

Despite economic uncertainty, 68 percent of those surveyed still believe now is a good time to buy a home; while that number is down from last year (75 percent), it’s up from 2008 (66 percent) and 2007 (59 percent).

Lower home prices and record-low mortgage interest rates may be attracting buyers to the housing market – more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40 percent said it was one of their highest priorities.

Lower home prices have improved affordability. Despite improved affordability, 79 percent of respondents still consider having enough money for down payment and closing costs to be among of the biggest obstacles to buying a home. Another obstacle is a lack of confidence in their ability to be approved for a loan, reported by 73 percent of respondents.

The good news is that Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.

While more than half (51 percent) say foreclosures are a problem in their area, the rate of foreclosures is also seen as stabilizing; 51 percent say the rate is about the same as last year. Thirty-six percent of respondents cite the recession, loss of jobs and the poor economy as the main reason for the ongoing foreclosure problem.

N early seven out of 10 say it’s harder to sell a home in their area today than it was a year ago, it’s less of a concern from last year when the number was 10 percentage points higher. This is most likely the result of lower home inventories.

The 2010 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program. The telephone survey was among 1,209 adults living in the 25 most populous metropolitan statistical areas. The study has a margin of error of plus or minus 3.1 percentage points.

Washington, October 14, 2010

Nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That’s according to the 2010 National Housing Pulse Survey, an annual report released today by the National Association of Realtors®.

The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership.

“The real issue facing the nation’s economy right now is that many Americans can’t find meaningful work to support their families,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “While a job recovery is what’s needed right now to get the economy and housing market back on the right track, owning a home continues to be part of the American Dream and one of the best long-term investments in your future.”

Despite economic uncertainty, 68 percent of those surveyed still believe now is a good time to buy a home; while that number is down from last year (75 percent), it’s up from 2008 (66 percent) and 2007 (59 percent). Lower home prices and record-low mortgage interest rates may be attracting buyers to the housing market – more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40 percent said it was one of their highest priorities.

Lower home prices have improved affordability. In fact, the percentage of renters who are worried that the cost of housing is getting so unaffordable that they will never be able to buy a home has decreased steadily since 2007, from 63 to 57 percent.

Despite improved affordability, 79 percent of respondents still consider having enough money for down payment and closing costs to be among of the biggest obstacles to buying a home. Another obstacle is a lack of confidence in their ability to be approved for a loan, reported by 73 percent of respondents.

The good news is that Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.

While more than half (51 percent) say foreclosures are a problem in their area, the rate of foreclosures is also seen as stabilizing; 51 percent say the rate is about the same as last year. Thirty-six percent of respondents cite the recession, loss of jobs and the poor economy as the main reason for the ongoing foreclosure problem. This has also led to a slight increase in the number of people who believe the federal government should take a more active role overseeing loans and mortgages (44 percent, up from 43 percent last year).

While nearly seven out of 10 say it’s harder to sell a home in their area today than it was a year ago, it’s less of a concern from last year when the number was 10 percentage points higher. This is most likely the result of lower home inventories.

The 2010 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program. The telephone survey was among 1,209 adults living in the 25 most populous metropolitan statistical areas. The study has a margin of error of plus or minus 3.1 percentage points.

NAR’s Housing Opportunity Program, www.realtor.org/housingopportunity, was created in 2002 to encourage local Realtor® associations to create initiatives that help increase housing opportunities available to consumers and make affordable housing more readily available in their communities.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

North Carolina ranks No. 3 in the latest Forbes magazine ranking of best states for business, up from No. 5 a year ago.

Forbes ranks states based on business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. North Carolina excelled in business costs and regulatory environment, ranking No. 3 in both categories, and in growth prospects at No. 9. Labor supply was ranked at No. 15 and economic climate at No. 18. And apparently no one from Forbes has ever been to North Carolina because the state was ranked at an abysmal No. 32 in quality of life.

Utah took the top spot in the ranking due largely to its economic growth, which at 3.5 percent annually over the past five years is bested only by North Dakota. Virginia, which had held the No. 1 spot the last four years, fell to No. 2. Colorado and Washington rounded out the top 5.

Read more: Forbes ranks N.C. third best for business | Triangle Business Journal

Perform your own home energy audit to see if you need fixes that can lower your energy bills by 5% to 30% annually.

Is your home squandering precious energy? Here’s how you can search out areas of energy waste that may be costing you money. By following up on problems, you can lower energy bills by 5% to 30% annually.

With annual energy bills averaging $2,200, investing in fixes or energy-efficient replacement products could save you up to $660 within a year. Leave the deerstalker hat and magnifying glass behind. All you’ll need for energy sleuthing is a flashlight, screwdriver, paint stirrer, tape measure, and—not just for serenity’s sake—a stick of incense.

1. Hunt down drafts. Hold a lit stick of incense near windows, doors, electrical outlets, range hoods, plumbing and ceiling fixtures, attic hatches, and ceiling fans in bathrooms—anywhere drafts might sneak in. Watch for smoke movement. Note what sources need caulk, sealant, weather-stripping, or insulation.

2. Check attic insulation. Winter or summer, insulation does the most good when it’s overhead, so start with the attic. First, do you have insulation? If the insulation you see covers the tops of the joists by several inches, you probably have enough. If the insulation is only even with the tops of the joists, you probably need to add insulation.

3. Check wall insulation. Remove electrical outlet covers to see if your wall contains insulation. Shut off power to the receptacle before probing beside the electrical box with a wooden paint stirrer. Check some switch boxes as well. Their higher wall location lets you see if blown-in insulation has settled.

4. Look for stains on insulation. These often indicate air leaks from a hole behind the insulation, such as a duct hole or crack in an exterior wall. Seal gaps with caulk or spray foam insulation.

5. Inspect exposed ducts. Look for obvious holes and whether joints are sealed. Heating, ventilation, and cooling (HVAC) ducts are made of thin metal and easily conduct heat. Consider insulating them. Uninsulated or poorly insulated ducts in unconditioned spaces can lose 10% to 30% of the energy used to heat and cool your home.

6. Check anything that goes through an exterior wall. Examine dryer ducts, plumbing lines under sinks and vanities, anything that pierces a wall. Any gaps around it should be sealed with spray foam insulation or caulk.

Jane Hodges has written about real estate for more than half of her 16-year journalism career, for publications including MSNBC.com, Seattle Magazine, The Seattle Times, The Wall Street Journal, and The New York Times. She lives in Seattle in a 1966 raised ranch with an excellent retro granite fireplace.

By: G. M. Filisko Published: February 10, 2010

By doing homework in advance, you’ll understand what you’re asked to sign when you close the sale of your home.

1. Set a closing date

Your real estate agent will work with the seller’s agent and title company to schedule your closing date. Be sure it meshes with the end of your lease or the sale of your existing home and a time when you’ll able to play hooky from work. If you’re tight on cash, schedule your closing for the end of the month because that’s when you’ll have to pay the least amount of interest at the closing table.

2. Gather your funds

You may be required to bring funds to the closing. If they’re not easily accessible, arrange early to transfer them to a liquid account to avoid last-minute problems. If the title company requires the funds in the form of a cashier’s check, also leave time to stop by the bank and pick one up.

3. Purchase title insurance

Title insurance protects the policyholder against trouble with a home’s title. Your lender will insist that you purchase a policy to protect it. You should also consider purchasing what’s called an owner’s title policy from the same insurer, which protects you from fraudulent claims against your ownership and errors in earlier sales. In some areas, sellers traditionally pay for the buyer’s title policy. Shop online at Closing.com, EasyTitleQuote.com, and FreeTitleQuote.com. If your home has been sold within the past few years, ask the prior owner’s insurance company for a reissue discount.

4. Line up homeowners insurance

Get quotes and compare policies to be sure coverage will be in effect by your closing date. An annual policy should run $500-$1,000, depending on your home’s size, age, and amenities. If you live in an area where natural disasters occur, like earthquakes, floods, or hurricanes, you’ll need separate insurance to protect your home.

5. Review your good-faith estimate and HUD-1 settlement sheet

Your lender must provide a good-faith estimate of your closing fees. Some of those fees can’t change, and others can rise by 10%. Before you go to the closing, read your good-faith estimate, compare it with your HUD-1 settlement statement, and question any fees that increased.

6. Do a walk-through

Schedule an appointment to walk through the home one last time just before your closing. Make sure repairs you requested have been made, no major changes have occurred since you last viewed the property, and that the sellers left anything they agreed to leave and took all their belongings.

Also test electronics and appliances, such as the doorbell, dishwasher, washer and dryer, and oven, to ensure they’re functioning properly. Do the same with the hot water heater and heating and air conditioning systems. Walk the yard to be sure no plants or shrubs have been removed.

7. Resolve issues identified in your walk-through

If your walk-through uncovers problems, you can delay the closing until the seller corrects them. But that’s often not feasible because your lease is probably over and you’ve already scheduled movers. Another option is to negotiate a discount to your sales price to cover the cost of the work needed. If the air conditioning is on the fritz and a contractor says the repair will cost $500, ask that the sales price be reduced by that amount. If you make that request at closing, however, be ready for a delay while the title company redoes the paperwork.

A third option: Have the title company hold a portion of the seller’s proceeds in escrow until the dispute is resolved. Once that happens, the funds will be released to you or the seller, depending on the outcome.

More from HouseLogic

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G.M. Filisko is an attorney and award-winning writer who has endured several property closings, but the easiest was done through the mail. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

To sell your home in today's market, there are three key elements to focus on:

1) Curb Appeal & Condition - To effectively market a home and to obtain the highest possible price, its imperative the home looks good both inside and out! Grass should be green, weeds need to be pulled, trim and decking should be painted. Inside, your home should be de-cluttered, personal pictures and items should be boxed-up, a fresh coat of paint goes a long way, and carpets should be like-new. Of course the rooms with the most impact are the kitchen, and master bedroom/bath. And don't overlook the garage—a little organization can go a long way.

Not sure what to do first? Call me and I can stop by your house and provide a few suggestions!

2) Price - I have good news...with the increase in sales these past 6 months (see chart above), we now have a healthy selection of "comps" that we can use as a basis for a pricing recommendations. Not all comparisons are "apple to apples," so it’s important to evaluate the specific features of your home, the location, the amenities, views, etc. But, the fact that we have 'comps' can allow us to confidently suggest a realistic sales price for your home.

3) Maximum Exposure - To sell your home (for the highest possible price) a high quantity of buyer-leads needs to be generated. More leads = more prospects = more lookers = quicker sale for a higher price!  There are many ways to accomplish this, but it’s not easy, and it can be expensive. It is a 'must' to have your home listed on REALTOR.com, Homes.com and Trulia.com. These are the most visited websites, and NAR studies show 90% of home buyers begin their search on-line. I also incorporate advertising on AOL, Google, Yahoo! Real Estate, the New York Times (on-line), and many others...in total early 30 high power websites. And good pictures are important too!

Incorporating the three elements above will go a long way in helping you accomplish your goals!