Normally, you will have some level of disaster protection through your homeowners insurance. The key factor in getting any kind of natural disaster coverage is whether your area is prone to that kind of disaster. Some homeowners in Beaufort County might pay 25 percent more to insure their homes this year, now that new national flood insurance policies have taken effect.

Under the Flood Insurance Reform Act of 2012, flood insurance premiums will no longer be subsidized for second homes built in high-risk flood zones. The law applies to homes in South Carolina built before Sept. 30, 1977, or those built to standards that are now outdated, according to the Federal Emergency Management Agency.--- Those homes previously were allowed to receive discounted rates, but no longer.

For most people, the largest purchase that they are ever likely to make in their lives will be a home purchase. In almost all countries where free-market forces are allowed to predominate, house prices have risen at a faster rate than wages since World War II. However, political and social pressures have come to bear which mean that more people than ever before aspire to own their own homes. 

The only way for the average person to be able to buy a home when house price inflation outstrips wage inflation is to enable them to borrow more money against their earnings and/or to increase the repayment period on the loan. Schemes now exist where borrowers only pay the interest component of their loan (i.e. the capital is never repaid and so the “buyer” never owns the property) and of course the whole sub-prime fiasco was about making loans to people ill-placed to afford them.

Zillow said in a new report Thursday that around 2 million homeowners moved back above water last year. The online real-estate company estimated that 13.8 million borrowers were underwater at the end of the year, down from 15.7 million a year earlier, a decline of around 12%. U.S. home prices rose by 5.9% last year, though bigger price gains in some of the hardest hit housing markets had an outsized impact on returning borrowers in those regions to positive equity.. Others have said that last year’s drops were bigger. Lender Processing Services, another property data firm, estimated that there were 9.8 million underwater loans at the end of last year, a 35% drop from the 15.5 million at the start of the year.

The League of American Bicyclists has awarded the coveted Bicycle Friendly Community award at the silver level to the Town of Hilton Head Island.

I am celebrating the latest news about several programs designed to make homeownership a priority for some groups that had long-standing or traditional barriers to owning or accessing homes of their own.

On February 13, U.S. Housing and Urban Development Secretary Shaun Donovan announced eight organizations will receive a total of $7.3 million in grants to improve housing conditions in Native American, Alaska Native and Native Hawaiian communities.

Funds from both programs are intended to primarily benefit low-income families living on Indian reservations or Alaskan and Hawaiian communities. The funding is used for a range of affordable housing activities, including: new construction, rehabilitation, acquisition, infrastructure, and various support services.

It shouldn’t be surprising that single family rental demand has picked up in recent years: There are many families who have lost their homes to foreclosure or that can’t qualify for mortgages given tighter underwriting standards.The single-family rental market has attracted a glut of institutional investor capital over the past two years, as firms to seek to build scattered-site property management infrastructure for an asset class that has long been the domain of mom-and-pop owners and smaller investors.

Slightly more than half of all rental units in the U.S., or around 21 million units, are single-family homes. Around four in five of those unit owners are individual investors.

US Masters, a real-estate investment trust that has raised $276 million, primarily from Australian retirees, is one of a handful of foreign firms that are betting on the U.S. housing recovery by buying houses at discount prices. The business of buying-and-renting houses, long dominated by local mom-and-pop investors, has morphed over the past two years into one of the hottest investments on Wall Street. Dozens of pension investors and private-equity firms, such as Blackstone Group LP and Colony Capital LLC, are clamoring to buy homes in beaten-up markets, sometimes using money from foreign co-investors.

Builder confidence in the market for newly built, single-family homes was virtually unchanged in February with a one-point decline to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released recently.

“Following solid gains over the past year, builder confidence has essentially leveled out and held in the same three-point range over the last four months,” notes NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. “This is partly due to ongoing uncertainties about job growth and consumer access to mortgage credit, but it’s also a reflection of the fact that builders are now confronting rising costs for building materials and, in some markets, limited availability of labor and lots as demand for new homes strengthens.”

“Having risen strongly in 2012, the HMI hit a slight pause in the beginning of this year as builders adjusted their expectations to reflect the pace at which consumers are moving forward on new-home purchases,” observes NAHB Chief Economist David Crowe. “The index remains near its highest level since May of 2006, and we expect home building to continue on a modest rising trajectory this year.”

The top home decor trends for 2013 are already emerging, and homeowners seeking a fresh look will find a lot to love. Not only can these looks be accomplished in minimal time - they're budget friendly and easy enough for DIYers to finish in a weekend or less.

Giving your home an updated feel doesn't require a full-scale renovation. Instead, focus on simple updates for the most frequently used rooms in your house. When you're ready to get started on your home's new look, let these trends of the year be your design guide.

In the kitchen
Kitchens need to be functional, but in this hub of the home style is just as important. Upholding practicality while adding visual interest is a top trend this season. Two-toned upper and lower cabinet colors are rapidly growing in popularity as a way to let homeowners customize their kitchen spaces and express their personalities.

According to tax experts at Kiplinger Personal Finance, there are five legitimate tax deductions taxpayers frequently overlook. Consider these, which can save you a bundle if they apply:

• State sales tax – The state sales tax deduction, which expired at the end of 2011, was re-instated on January 1 as part of the fiscal cliff negotiations – and is retroactive for 2012. Congress offers a choice between deducting state income taxes paid or state sales taxes paid. Choose whichever gives you the largest deduction. (The IRS has tables that show how much residents of various states can deduct based on income and state and local sales tax rates.)
• State taxes paid last year – If you paid tax when you filed your 2011 state income tax return in 2012, include the amount in your state-tax deduction this year along with state income taxes withheld from paychecks or paid via quarterly estimated payments.
• Charitable deductions – Most of us take deductions for our larger charitable gifts, but you can write off smaller out-of-pocket costs incurred while doing work for a charity – including food you donate to a nonprofit organization or stamps you buy for your school. Keep receipts and if your contribution totals more than $250, get an acknowledgement from the charity. If you drove your car for charity in 2012, deduct 14 cents per mile plus parking and any tolls paid.

If you have clients or prospects who are looking into updating their roof, here are some of the latest developments in systems and materials available.

Schulte roofing (schulteroofing.com) of Navasota, Texas points out that homeowners can get the beauty of wood from a more durable material, by considering shingles made from recycled materials including cellulose fibers are popular.

They are environmentally friendly, have a Class A fire rating; are thaw and freeze resistant; have UV protection for color consistency; and can withstand up to 100 mph wind gusts.

Shulte also sees metal continuing to be a popular option because it is long-lasting and practically maintenance free; lightweight to decrease stress to an existing system; and a very painless replacement option.