Emeryville, California (EastBayDaily) — HomeGain®, the first website to provide free instant home values, today announced the results of an extensive nationwide survey on home prices based the responses of over 1,150 Realtors®.
The survey shows that 36 percent of homeowners think their homes should be listed 10 to 20 percent higher than what their Realtors’ recommend, down from 45 percent in the first quarter. Conversely, 64 percent of homebuyers think that homes are overpriced versus 59 percent who believed the same in the first quarter.
“Realtors are in a unique position as they get to hear both sides of the home price story – the buyers’ and the sellers’. They then apply their own home valuation analysis based on their understanding of the market which often meets resistance from buyers and sellers,” said Louis Cammarosano, General Manager of HomeGain. “The results of our second quarter Realtor home prices survey indicates that home sellers seem to be getting the message that perhaps their homes are not worth as much as they thought they were, while buyers are expecting to find a bargain on every corner.”
The Realtors surveyed expressed more optimism in the second quarter survey on the direction of home prices than in the first quarter, with 22 percent of them believing that home values will increase in the next six months versus 11 percent who believed the same in the first quarter. Twenty-nine percent of survey respondents believe that home prices will fall in the next six months versus 53 percent who believed the same in the first quarter survey.
“There is major improvement in the number of homes selling,” stated Heather Lawson, Broker Century 21 Watson Real Estate in Genoa, IL. Gillian Goldrich of Coldwell Banker Residential Brokerage in Woodbridge, CT agreed with Ms. Lawson, stating, “Markets are definitely picking up. It seems that buyers are getting off the fence and taking advantage of tremendous buys.”
Fifty-seven percent of Realtors surveyed indicated their approval of Obama’s performance as President. These results mirrored the nationwide results of the Rasmussen Daily Presidential Approval Index. Fifty-five percent of survey respondents believe that the Obama stimulus plan will have or has had no impact on home values versus 45 percent who believed the same in the first quarter survey.
The HomeGain Second Quarter Realtor Survey on Home Prices was conducted from May 6-11, 2009.
For complete survey results, including regional breakdown and real estate agent commentary, read HomeGain Releases 2nd Quarter Realtor Survey on Home Prices on the HomeGain Real Estate Blog.
To receive additional information about the survey and to speak with survey respondents, attend a live teleconference call on May 19, 2009, at 9 AM Pacific via homegain.webex.com/event.
About HomeGain HomeGain® is a leading provider of online marketing solutions that connect real estate agents and brokers with home buyers and sellers. HomeGain offers free services to find and compare real estate agents, research home values, and view homes for sale. Since 1999 REALTORS® have used HomeGain’s real estate marketing programs, products and tools to connect to consumers, promote their services and grow their business. HomeGain.com receives an average of over five million web visits per month, ranking it in the top 10 real estate websites worldwide.