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The Home Price Index Shows Home Values Lower Broadly, But Not Specifically Posted: 26 Mar 2010 07:45 AM PDT Home values fell again in January, according to the Federal Home Finance Agency's Home Price Index. Values were reported down 0.6 percent, on average. We say "on average" because the Home Price Index is a national report. It doesn't capture the essence of a local market , or even a city market. The most granular that the monthly Home Price Index gets is regional and January's report shows that: Values in the Mountain states rose 2.0% Values in the Pacific states were flat Values in the East North Central states fell 1.8% It's hardly helpful for home buyers entering the market, or home sellers trying to properly price a home. Furthermore, because the Home Price Index reports on a 2-month delay, its data fails to reflect the current market conditions. Versus January -- the period from which HPI data is collected -- mortgage rates are lower, buyer activity is up, and the federal home buyer tax credit is closer to expiring. These each can have an impact on housing. Ultimately, national real estate data like the Home Price Index is best suited for lenders and policy-makers. National data helps to identify trends that shape formal policy, but it doesn't help you, specifically. Since peaking in April 2007, the Home Price Index is off 13.2 percent.

The Average Household Will Get $2,800 In Tax Refunds. Will You? Posted: 25 Mar 2010 09:15 AM PDT April 15 is Tax Day and the IRS estimates that the average U.S. household will receive a $2,800 tax refund this year. If you're among the Americans expecting a refund, this 4-minute piece from NBC's The Today Show may be helpful. It's a talk about how to receive a refund and what to do with it. Some of the key points discussed include: Why state-issued tax refunds may be delayed this year How wage-earning people can claim their "Making Work Pay" tax credit of up to $800 How to direct a tax refund to a 529 college savings plan for an even bigger tax refund There's also some sensible pointers on using tax refunds to pay down credit card debt, and to fund retirement plans, among other purposes. If you haven't started your tax planning yet, try to avoid leaving it for the last weekend. Not only will your tax preparer have more time for you now, but you'll leave yourself more time to track down important statements and receipts that can boost your federal and state tax deductions. Taxes are due in 21 days.

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