When it comes to homeownership, local, state and federal laws can sweeten the deal or make it a burden. To get a feel where residents stand on the matter, the Houston Association of Realtors conducted a poll to see how legislation impacts the local housing market.Currently, close to 64 percent of respondents say they take advantage of the federal mortgage interest tax deduction, the survey found. However, this initiative may no longer exist at the beginning of 2013 if Congress doesn't come to an agreement on the impending fiscal cliff.”Houston homebuyers and sellers overwhelmingly value the federal mortgage interest deduction, and they want to see it protected,” said HAR chairman and CEO Wayne Stroman.Meanwhile, slightly less than half of Houstonians have purchased a federally-backed flood insurance policy to protect their properties in the event of a natural disaster, but 54 percent believe in the initiative and feel it benefits Houston real estate.??The result of the upcoming presidential election could change a number of these benefits in the future. However, only time will tell how it pans out.??? Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.