Archive for September, 2012

HomeGain Releases 3rd Quarter 2012 National Home Values Survey Results

Fifty-one percent of real estate professionals expect home values to increase, up from 48 percent from last quarter; Sixty-seven percent disapprove of Obama’s performance as President; Mitt Romney favored over Barack Obama by both real estate professionals and homeowners

HomeGain, one of the first companies to provide free instant home valuations online, announced the results of its nationwide third quarter 2012 home values survey. Over 300 real estate agents and brokers and over 2,200 homeowners were surveyed. We also released the regional results of the third quarter 2012 HomeGain home values survey.

Real estate professionals continue to be more optimistic about the direction of home values than homeowners. Fifty-one percent of real estate professionals expect home values to increase, unchanged from last quarter. Thirty-four percent of homeowners expect home values to increase, up from 27 percent last quarter.

Eighty percent of real estate professionals and 62 percent of homeowners think home values will increase in the next two years. In contrast, just five percent of real estate professionals and 14 percent of home owners think home values will decrease in the next two years. Fifteen percent of real estate professionals and 24 percent of homeowners think home values will stay the same in the next two years.

Eleven percent of real estate professionals expect home values to decrease in the next six months, down from 14 percent from last quarter. Twenty percent of homeowners expect home values to decrease in the next six months, down from 24 percent from last quarter.

Thirty-eight 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, 76 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 60 percent of home buyers believe homes are overpriced.

“Optimism about the direction of home prices continues to grow,” said Louis Cammarosano, General Manager of HomeGain. “The survey show an increase in optimism, especially over the course of the next two years, as 80 percent of real estate professionals expect home prices to be higher than they are today.” said Louis Cammarosano, General Manager of HomeGain.

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:


Fifty-three 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 67 percent disapproval rating, an increase of one percent in the disapproval rating of agents and brokers surveyed in the second quarter of 2011. In the second quarter of 2012, the President also had a 66 percent disapproval rating among agents and brokers.

Forty-five percent of homeowners “strongly disapproved” and 11 percent “somewhat disapproved” of the President’s performance, earning him a 56 percent disapproval rating. The President had a 59 percent disapproval rating last quarter among surveyed homeowners with 46 percent “strongly disapproving.” The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Second Quarter 2012 Home Values Survey indicated that both of the President’s average approval and disapproval ratings were 49 percent, with an average of 41 percent “strongly disapproving” of his performance and an average of 29 percent “strongly approving” of his performance.

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 September 11 – September 21, 2012.

View all prior HomeGain national and state home prices surveys.

Set forth below are the results of the third quarter 2012 and second quarter 2012 national home values surveys as well as the results of the third quarter 2011 survey. Also set forth below for selected questions is the national home owner response data for the third 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. In the next two years, will the values of homes in your market increase, decrease or stay the same?
  8. What percentage of homes for sale are foreclosures in your area?
  9. What is the average home price in your area?
  10. What percentage of your clients are first-time buyers?
  11. How do you think Barack Obama is performing in his role as President?
  12. If the Presidential election were held today, who would you vote for?
  13. If the Presidential election were held today, who would you vote for? (Part 2)

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Posted by: Louis Cammarosano on September 27th, 2012 under Home Prices, Home Values, Home Values Surveys

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HomeGain Releases 3rd 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 3rd 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. In the next two years, will the values of homes in your market increase, decrease or stay the same?
  8. What percentage of homes for sale are foreclosures in your area?
  9. What is the average home price in your area?
  10. What percentage of your clients are first-time buyers?
  11. How do you think Barack Obama is performing in his role as President?
  12. If the Presidential election were held today, who would you vote for?
  13. If the Presidential election were held today, who would you vote for? (Part 2)

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Posted by: Louis Cammarosano on September 27th, 2012 under Home Prices, Home Values, Home Values Surveys

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Newspapers Don’t Sell Homes

I was in Panera Bread the other day for lunch and overheard a conversation from the neighboring table. One lady mentioned how she just listed her house for sale. Her friend eventually asked, “What made you go with that (real estate) company?” The lady said, “They do the most advertising in the newspaper.” Although not surprised, I did find this amusing.

Many people are still under the impression that newspaper and other forms of print advertising are effective or even necessary in the sale of a home. I can tell you with 100% certainty that print advertising is NOT necessary to sell a home.

A Good Example

One of my agents just sold this wonderful home at 5318 Avenida Del Mare on Siesta Key, Florida. We didn’t need to do any print advertising to get this home sold. This home sold for the following reasons:

  • We mobilized the Realtor community and made them aware of this home via the Multiple Listing Service (MLS).
  • We found the right asking price to get buyers interested.
  • The listing and selling Realtors worked diligently to get the transaction closed.
  • Our marketing plan was more thorough than what is listed above. However, at the end of the day the MLS, the right price and good Realtors are what got the job done.

Where Do Buyers Look For Homes?

Of course newspapers generate buyer calls and thus ultimately causes some properties to sell. However, it is probably not as much as you think.

The National Association of Realtors compiles data every year and issues a Profile of Home Buyers and Sellers. This report is recognized by most as the best compilation of data on today’s buyers and sellers because of the enormous amount of data available at NAR’s fingertips.

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Posted by: Marc Rasmussen on September 26th, 2012 under Buying or Selling a Home

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The Most Powerful and Low-Cost Method for Selling a Home Fast

A clean, organized home does more to sell your home compared to any other low-cost selling strategy. This is according to a 2011 survey conducted here at HomeGain, which questioned over 600 real estate agents across the U.S. and found 99 percent of them recommend thoroughly cleaning and decluttering the home before putting it up for sale. It also showed a return on investment (ROI) of 586-percent simply by cleaning and decluttering.

These survey results make sense. Would you buy a home that was cluttered and messy? The answer is probably a defiant “No!” First impressions are critical when selling a home, so it’s extremely important to make your home look its best during an open house or showing.

Decluttering

The first step is to declutter the home. In most cases, the more stuff you get rid of, the better. A minimalist approach will appeal to the highest percentage of potential buyers.

So, start by clearing out obvious trash, junk and boxes filled with stored items. Either temporarily store these items in a storage unit or family member’s home, or trash the items if it’s something you never use or need.

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Posted by: Guest Contributor on September 24th, 2012 under Guest Bloggers

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Guerrilla House Buying: Taking Different Routes to Home Ownership

Some rays of positive light are beginning to shine on the American housing industry. The US Department of Commerce has recently reported that home sales are beginning to move up
from depressing lows to a point where a full-scale recovery may soon be developing. That is wonderful news but there still are some bumps along the way. Homeowners are holding onto
their property longer and a number of buyers are stuck with serious credit problems, making it very difficult to obtain conventional mortgage loans from financial institutions. Yet, it is very possible for a prospective buyer who has poor credit ratings to purchase a house. It just means that guerrilla house buying tactics may need to be used. This isn’t as threatening as it sounds. Guerrilla house buying simply means that the road less traveled is used and strategies that are a bit unconventional are considered (this assumes that a standard home mortgage from a bank is conventional means).

Family is a potential source of financing for even the purchase itself. It is largely accepted that an increased down payment translates to more favorable mortgage terms (lower interest rates, etc). In some instances, this can make for the difference between affordable and cost-prohibitive financing. In this scenario, a buyer agrees with a family member on a loan large enough to provide a sizable down payment. In most occurrences, the terms of a family loan comprises a minimal interest rate; in others, the arrangement may consist of repayment of principle only. Utilizing a (now) larger down payment, it is possible for the buyer to arrange a path to home ownership that creatively slashes costly interest rates (and other associated expenses).

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Posted by: Guest Contributor on September 20th, 2012 under Guest Bloggers

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Real Estate 360 Live With Louis Cammarosano 9/17/12

On Monday September 17, 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 (16:12)

Ryan and Louis discuss the announcement of QE3. Louis notes that QE3 is doubly insane-in that its been tried before and didn’t work and its a flawed conception.

Louis uses an analogy of a casino that mints more chips to give to its gamblers so they can increase the revenues of the house.

Louis notes the unintended consequences of government interference in the housing market. For example the policies to make homes more affordable and to get as many people into homes has back fired as such policies drove prices higher and caused default resulting in fewer people owning homes as defaults and foreclosures increased.

Louis predicts that QE3 is intended to create another housing bubble.

Louis notes that even Keynes did not advocate permanent stimulus.

Louis notes that piling debt upon debt is not a solution, nor is insisting that you will continue to do so.

Ryan notes that Ron Paul stated that the country should have panicked listening to Bernanke in that he basically admitted he has lost control.

Louis notes that Bernanke and the Fed have been reckless in their monetary policy and that the Congress has been equally reckless in their fiscal policy.

Louis notes that Fed policy is anti democratic as it picks winners and losers and the people have no say.

Louis calls the US dollar the most abused currency of all time.

Louis notes that QE3 will help those who owe money and who will owe money in the future.

Louis notes in all historic inflationary episodes there has always been a currency to run to. Since the US dollar and Euro are now both engaged in massive money printing, there is no safe haven currency.

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

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