Archive for March, 2012

HomeGain Releases 1st Quarter 2012 National Home Values Survey Results

Thirty-seven percent of surveyed real estate professionals nationwide expect home values to increase; Sixty-four percent disapprove of Obama’s performance as President; Mitt Romney edges out Barack Obama

HomeGain, one of the first companies to provide free instant home valuations online, announced the results of its nationwide first quarter 2012 home values survey. Over 400 real estate agents and brokers and over 1,700 homeowners were surveyed. We also released the regional results of the first quarter 2012 HomeGain home values survey.

Real estate professionals have become more optimistic about the direction of home values than homeowners. Thirty-seven percent of real estate professionals expect home values to increase, up from 15 percent last quarter. Twenty-five percent of homeowners expect home values to increase, up from 15 percent last quarter.

Twenty-two percent of real estate professionals expect home values to decrease in the next six months, down from 42 percent from last quarter. Twenty-nine percent of homeowners expect home values to decrease in the next six months, down from 37 percent from last quarter.

Forty-one percent of real estate professionals and 46 percent of homeowners believe home values will stay the same in the next six months.

According to surveyed agents and brokers, 77 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 62 percent of home buyers believe homes are overpriced.

“Real estate professionals have grown more optimistic regarding the direction of home prices, especially in the states that have been hardest hit in the past few years, like Arizona, Nevada and Florida and also in states that have done comparatively well, like Massachusetts and Virginia.” said Louis Cammarosano, General Manager of HomeGain.

Fifty-two percent of agents and brokers surveyed indicated that they “strongly disapproved” and 14 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 66 percent disapproval rating, an increase of two percent in the disapproval rating of agents and brokers surveyed in the first quarter of 2011. In the fourth quarter of 2011, the President had a 70 percent disapproval rating among agents and brokers.

Forty-one percent of homeowners “strongly disapproved” and 15 percent “somewhat disapproved” of the President’s performance, earning him a 56 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 First Quarter 2012 Home Values Survey indicated that the President’s average disapproval rating was 52 percent with an average of 42 percent “strongly disapproving” of his performance.

Below are the top states where real estate professionals and home owners think home prices will rise and fall over the next six months.

Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Up in the Next Six Months:


Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Down In the Next Six Months:


Top 10 States Where Real Estate Agents and Homeowners Approve of Barack Obama’s Performance as President:


Top 10 States Where Real Estate Agents and Homeowners Disapprove of Barack Obama’s Performance as President:


The survey was conducted from March 6 – March 15, 2011.

View all prior HomeGain national and state home prices surveys.

Set forth below are the results of the first quarter 2012 and fourth quarter 2011 national home values surveys as well as the results of the first quarter 2011 survey. Also set forth below for selected questions is the national home owner response data for the first quarter of 2012. Click on each question to see complete results:

Questions and National Results:

  1. Have home prices increased, decreased or stayed the same in the last year?
  2. On average, what do homeowners believe that their home is worth?
  3. How do buyers feel that homes for sale are priced?
  4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
  5. What is the average difference in price between what a home is listed at and what a home sells for?
  6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
  7. What percentage of homes for sale are foreclosures in your area?
  8. What is the average home price in your area?
  9. What percentage of your clients are first-time buyers?
  10. How do you think Barack Obama is performing in his role as President?
  11. If the Presidential election were held today, who would you vote for?

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Posted by: Louis Cammarosano on March 19th, 2012 under Home Prices, Home Values, Home Values Surveys, HomeGain, HomeGain Market Data

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HomeGain Releases 1st Quarter 2012 Regional Home Values Survey Results

Below are the regional results of the entire survey, categorized into four regions*, Northeast, Southeast, Mid-West and West. You can also check out the national results of the HomeGain 1st quarter 2012 home values survey.

Questions and Regional Results:

  1. Have home prices increased, decreased or stayed the same in the last year?
  2. On average, what do homeowners believe that their home is worth?
  3. How do buyers feel that homes for sale are priced?
  4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
  5. What is the average difference in price between what a home is listed at and what a home sells for?
  6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
  7. What percentage of homes for sale are foreclosures in your area?
  8. What is the average home price in your area?
  9. What percentage of your clients are first-time buyers?
  10. How do you think Barack Obama is performing in his role as President?
  11. If the Presidential election were held today, who would you vote for?

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Posted by: Louis Cammarosano on March 19th, 2012 under Home Prices, Home Values, Home Values Surveys, HomeGain

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Real Estate 360 Live With Louis Cammarosano 3/12/12

On Monday March 12, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:46)

Ryan discusses the upcoming Fed meeting and the potential for more quantitative easing to keep interest rates low. Ryan notes that James Grant refers to the Fed actions as market manipulation. Louis notes that when interest rates are low for items that require borrowing, prices rise (housing, college tuition). Louis agrees that Fed and government policies contribute to this.

Louis notes that when there are low interest rates and an increase in the money supply and credit, not only do prices of goods that require borrowing rise, but prices of commodities like oil and gold and silver also rise. Low interest rates also create a speculative environment.

Ryan and Louis notes that the rise in the cost of oil also impacts the cost of finished goods. Louis notes that if there is QE3, the price of oil would rise which would not be good for the President’s reelection chances. Ryan notes that interest rates will need to rise if the dollar continues to be devalued. Louis notes we have been side tracked by the Arab Spring and Occupy Wall Street and that has taken public’s attention away from the US debt crisis.

Ryan notes that only Ron Paul is talking about the unsustainability of the US debt. Louis notes that Ron Paul and his message has been marginalized by the main stream media. Louis notes that a target inflation rate is not a good idea as it is a pre-calculated method of taking the value of people’s money away. Louis also notes that low interest rates force savers into the riskier equities market as they can’t get a positive rate of return in CDs. Continue reading this post

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Posted by: Louis Cammarosano on March 19th, 2012 under HomeGain, HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/27/12

On Monday February 27, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:27)

Louis and Ryan discuss the $5 billion suit against the banks for wrongfully foreclosing on homeowners. Louis notes a moral hazzard is created when companies and individuals are bailed out. Louis notes that when you keep interest rates artificially low borrowers have no incentive to pay off debt earlier and no incentive to save. Low interest rates urge consumption and borrowing. Louis notes that rising gas prices have little to do with speculators or problems in the Middle East but rather the decline in the value of the dollar.

Louis notes that in 1964 a gallon of gas cost $.30. In 1964 a US quarter was 90% silver. Today a 1964 quarter is worth $6.43 (MORE than the price of a gallon of gas-at today’s price of about $4.25 a gallon) a 1964 US dime is worth $2.50, so the  price of gas has gone up less vs the dollar than silver. Ryan notes that Warren Buffet is a stock expert but not necessarily an expert in real estate.

Louis notes that its probable that the local Realtor knows far more about real estate than Warren Buffet. Louis notes that many people believe that Warren Buffet’s views on taxes are somehow more valid because he has made a lot of money in stocks. Louis notes that sadly, the people equate wealth with intelligence.

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Posted by: Louis Cammarosano on March 12th, 2012 under Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/13/12

On Monday February 13, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:38)

Ryan noted that Apple topped $500 a share and the passing of Whitney Houston. Ryan discusses the robo signing settlement with the banks. Louis notes that the banks now have to give back some of the money they received in the bailout.

Louis notes that the low Federal Reserve rates, the Community Reinvestment Act and policies of Freddie Mac and Fannie Mae encouraged excessive lending by the banks which caused the housing bubble. Louis notes that the settlement also involves more money being spent on the housing market. Louis notes that if banks lose money as a result of the foreclosure settlement, they will probably raise fees or interest rates. Louis notes that the onerous regulations that the banks are subject to keep competitors out.

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Posted by: Louis Cammarosano on March 12th, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Take the Stress Out of a Distressed Property

There are some fantastic real estate deals on the market right now. From properties in various stages of foreclosure to bank-owned property, you have a great opportunity to get the home you want at a bargain price. But what about those holes in the wall and that pet stained carpet? Looking past these stressful items can help you reap huge benefits financially.

Over the past several years we have seen huge numbers of distressed sales. According to RealtyTrac, 23% of all U.S. home sales in 2011 were in some stage of foreclosure. So nearly one in every four homes sold in 2011 was a distress sale. Couple this with the fact that these distressed homes sell at a significant discount to the non-distress sales (40% discount for bank-owned homes), there is a huge opportunity for buyers.

Along with the big discounts on distressed property typically comes evidence of neglect. The home may have sat empty for an extended period of time or the previous owner may have stopped caring when the bank started getting nasty with them. Whatever the case, these deals typically come with issues. So how do you get past these items to realize your dreams? My wife and I purchased a bank owned property last year…so here is my checklist, as a builder that just went through the process, for evaluating potential properties.
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Posted by: Michael Luckado on March 5th, 2012 under Buying or Selling a Home, Short Sales and Foreclosures

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