Home Ownership Matters

Published: February 11, 2011

Home ownership

It Pays to Support Responsible Home Ownership
Protect your home’s value and build stronger communities.

Home Ownership Matters Bus Tour Hits the Road
The Home Ownership Matters bus tour, sponsored by the NATIONAL ASSOCIATION OF REALTORS®, is revving up to celebrate the benefits of home ownership with you.

Home Ownership Matters Ad

Mortgages

How Fannie Mae, Freddie Mac Save You Money
Home owners who use Fannie Mae and Freddie Mac mortgages save thousands of dollars in interest payments each year.

Show Your Support for FHA
FHA supports home values by providing a steady source of mortgage financing for families across the country, but critics worry it has taken on too much risk.

Mortgage deduction

Your Mortgage Deduction: Turn Tax Savings into Home Value
Sock away your mortgage deduction tax savings, and you’ll have a nice cushion for life’s necessities—and a few luxuries. Here’s how a typical household might spend their tax savings at various life stages.

6 Mortgage Interest Deduction Myths
Think losing the mortgage interest deduction would be no big deal? We bust seven myths to show why the cost is bigger than you think.

Deduct Mortgage Interest and Home Equity Loans
Deducting mortgage interest, as well as interest on home equity loans and HELOCs, can save you money on taxes.

MID app
Estimate your tax savings based on the mortgage interest deduction.

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And no better time to buy than right now! I remember while still living in Brooklyn and renting an apartment, my grandmother would chastise me every time she saw me buying something unnecessary. She would say, stop wasting your money you have to buy a house nothing else is important! She was so right, best money I ever spent!
Posted by STEPHANIE on June 23, 2012

If the house is 1200 SQ Ft and title , tax records shows 900, it was probably added without permits. This extra Sq Ft, Un-permitted additions often do not show on the tax records, and cannot be valued when it comes to the appraisal, or the brokers price opinion. If the Realtor knows what they are doing they will not give value to Sq Ft. which dose not appear on title or on the tax records.
Posted by Nick on May 03, 2012

I am purchasing my first home in Jan 2012 and am very excited. We have wanted to own a home for years, but were never able to do it. We've finally saved up money for our downpayment and the intereste rates are super low! Very excited and interested in learning all I can about home ownership and what's involved. We referred to this website to get the value of the house we are buying and can see that if we'd have purchased the house 12 months ago it's value was $30,000 more, making it out of reach for us. http://bit.ly/rM1xoV From what I can tell, the housing market is correcting itself.
Posted by Jennifer on December 27, 2011

DO YOUR HOMEWORK BEFORE BUYING. The MLS gives realtors the ability to give their own opinion of sf of homes, very deceptive if listed as 1200 sf but on the tax assessors records its 944 sf. Larger homes sell for more money which creates unreliable inflated home sales for marketing comparisons which will again result in inflated appraisals due to the Realtor found additional sf not being reported to be taxed appropriately. Tax records will remain at the lower sf. Gone will be fair market analysis once again. If you feel you are being deceived or find that on tax assessor records the sf is less than what is advertised, make sure you mention this in your call to potentially initiate an investigation. Perhaps, Sellers will have to explain why renovations were not reported. Another thing Realtors are not telling people regarding current tax payments is if the taxes on homes are discounted due to elderly, disability, veteran status. Call the tax assessor and ask if taxes are discounted so you, like I experienced, do not find yourself in budget shock once that discounted rate ends due to the seller discount ending. Realtors should be required to report the additional FOUND sf. Due to owners not obtaining proper permits to do renovations and then once you buy, through assessments (our City just had assessment done with people coming to view the homes) you again may face budget shock. SF will be found meaning you pay the taxes the deceptive homeowners never reported to assessors. If Realtors continue to be allowed this deception our country is in for another round of over-inflated appraisals. Did we not learn our lesson yet, our economy has suffered enough due to this practice
Posted by fdsaf on December 09, 2011

Thanks for your comment. Each home sale contributes about $60,000 to the economy, contributing to such diverse industries as furniture, gardening, and home improvement. This stimulus contributes to job growth. For more info: http://www.realtor.org/statsanddata/homeownership/job_impact_purchase
Posted by HouseLogic on August 19, 2011

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