Real Estate: Homeowners Expect the Worst-New Survey

Real Estate: Homeowners Expect the Worst-New Survey-Image by Getty Images via @daylife

HomeGain®, the first website to provide free online instant home prices, today announced the results of its nationwide fourth quarter 2010 home values survey based on the responses of over 1,000 real estate agents and brokers and over 2,300 homeowners.

Most real estate professionals and homeowners continue to expect home values to decrease or stay the same for the rest of the year and into 2011. Forty-six percent of agents and brokers and thirty percent of homeowners think that home values will decrease over the next six months. In the third quarter 2010 HomeGain National Home Prices Survey, forty-eight percent of agents and brokers and 33 percent of homeowners thought that home values would decrease over the next six months.

Forty-eight percent of homeowners and 42 percent of real estate agents and brokers think that home values will remain the same in the coming six months.

Only 12 percent of real estate professionals and 22 percent of homeowners expect home values to increase in the coming six months. The results are similar to a recent Rasmussen poll of homeowners that found only 20 percent expect home values to rise over the next year.

Seventy-six percent of homeowners continue to believe their homes are worth more than the recommended agent listing price, down from 79 percent last quarter.

Sixty-nine percent of surveyed agents and brokers indicated that their home buyer clients think homes for sale are overpriced, unchanged from 69 percent last quarter.

“Real estate professionals and homeowners continue to take a neutral to negative view on the direction of home prices citing current high inventory levels, continued foreclosures, and persistent unemployment. There also continues to be a disconnect between what homeowners and buyers think homes are worth.” said Louis Cammarosano, General Manager of HomeGain.

Forty-nine percent of agents and brokers surveyed indicated that they “strongly disapproved” and 19 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 68 percent disapproval rating versus the 67 percent disapproval rating of agents and brokers surveyed in the fourth quarter last year. Last quarter the President had a 67 percent disapproval rating among agents and brokers.

Forty-two percent of homeowners “strongly disapproved” and 18 percent “somewhat disapproved” of the President’s performance, earning him a 60 percent disapproval rating. The President had a 60 percent disapproval rating last quarter among surveyed homeowners with 44 percent “strongly disapproving”. The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Fourth Quarter 2010 Home Values Survey indicated that the President’s average disapproval rating was 54 percent with an average of 45 percent “strongly disapproving” of his performance.

The survey was conducted from December 1-7, 2010.

For complete survey results, including regional breakdown, visit the HomeGain Real Estate Blog.

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 to connect with consumers, promote their services and grow their business. HomeGain.com has been a top visited real estate website since 1999. HomeGain is your real estate connection.

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