A new survey reveals that home sellers this year are more inclined to price their home competitively, in line with local market pressures. It also noted other interesting changes in buyer preferences.

The survey of more than 600 real estate agents was conducted by Coldwell Banker Real Estate. It not only focuses on home pricing trends but also reveals what today's buyers are looking for in a new home.

Agents say buyers value new or updated kitchens, bathrooms and open floor plans as the most important features.

More than half (51 percent) of survey respondents reported that sellers are more willing to price their homes competitively than this time last year, and 45 percent said sellers are more willing to change the appearance of their homes to entice buyers than they were one year ago.

Other key elements in the survey:

* Ninety-four percent say their sellers are getting rid of clutter and making cosmetic updates, such as fresh paint and minor repairs.

* Seventy-eight percent agree clients are willing to "de-personalize" the home.

* Fifty-nine percent say sellers are even bringing in new home decorations or furniture to help make the home more appealing.

"De-personalizing and making it easy for a buyer to imagine him or herself living in the property is crucial, especially when there are many homes on the market," says Jessica Edwards, Coldwell Banker's Consumer Specialist. "Sellers are more willing to price their homes competitively and make their home more inviting and appealing to a broad cross-section of potential buyers."

Q: Dose the Federal Housing Administration plan to raise its premiums for home mortgages?

A: Yes, the FHA has seen its capital reserves quickly dissipate over the past few years, amid a growing number of mortgage defaults and payouts on insurance claims, reported DS News.

"In an effort to bolster its capital cushion, the federal agency has announced a new premium structure for FHA-insured single-family mortgage loans," the report stated. "FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,500, effective for new loans insured by FHA beginning in April.

"The agency is increasing the annual MIP by 0.35 percent for loans above that amount, effective in June. Upfront premiums will also increase by 0.75 percent, beginning April 1. Existing borrowers who are already part of an FHA insurance program will not be impacted by the pricing changes."

Q: What are the prospects for growth in housing this year?

A: Moderate growth is projected for the year, according to the Fannie Mae February 2012 Economic Outlook report. Economic growth is projected to be at 2.3 percent for 2012, an increase compared to 1.6 percent last year, according to the report.

For the first time in seven years, the housing market is projected to contribute to the gross domestic product, but by a very modest amount, the report also noted.

Another timely quote related to housing growth this year comes from Jay Brinkmann, chief economist for the Mortgage Bankers Association:

"People often ask where we are in the housing recovery and how far we still have to go. ... (This) is a good time to take stock.

"By several measures, mortgage delinquencies are about half way back to long-term, pre-recession levels. The total delinquency rate peaked at 10.1 percent in the first quarter of 2010. It now stands at 7.6 percent, about half way to the longer-term pre-recession average of roughly 5 percent.

"The rate of foreclosure starts peaked in the third quarter of 2009 at 1.4 percent but has now dropped to 1 percent, about half way to the longer-term average of slightly under .5 percent.

"When it comes to real estate, however, all national measures are essentially meaningless since the important measures are local ones. This is certainly true here where the delinquency measures in some markets are much closer to their longer term averages while other markets have much further to go."

To find out more about Jim Woodard and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.