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HomeGain Advisors’ January 2010 Insight

HomeGain Advisors Group – January 2010 Conference Call

The HomeGain Advisors met for their quarterly meeting last week on Thursday, January 21st. The Advisors represent top real estate agents across the country who provide insight into HomeGain products and services, market trends and Realtor behavior.hg_adv_grp2010

We had several interesting discussions with our Advisors board last week that are worth sharing with our Blog readers — about home buyer tax credit, appraisals, forced registrations.

Home Buyer Tax Credit

Firstly, HomeGain Advisors in all regions of the country expressed hesitation in terms of how effective the first time buyer tax incentive is currently. In previous calls, many mentioned that most of their business was coming from buyers who mentioned that their motivation to purchase was based on the tax incentive.

In a call prior to the positive comments, they had expressed doubt about how effective the tax incentive was going to be. Clearly, there has been some change. They are attributing the current lack of impetus to the fact that many consumers are still not aware of the incentives and they were doubtful that the April 30 deadline would be extended.

Appraisals

A couple of Advisors spoke about the difficulties they had closing deals due to problems with appraisals. Continue reading this post

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Posted by: Peter McCullough on January 25th, 2010 under HomeGain Market Data

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HomeGain Releases 4th Quarter Nevada Home Prices Survey Results

Last week, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home pricesNew York home prices, New Jersey home pricesCalifornia home prices , Illinois home prices and Georgia  home prices survey results.

Earlier this week we released the Pennsyvania home prices, Colorado home prices the Arizona home prices , North Carolina home prices, the Virginia home prices,  the Washington home prices , the  Maryland home prices, and the Massachusetts home prices survey  results.

Today we are releasing the Nevada home prices survey results.

 

nevada_edit

 

(click on each question to see complete 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 as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

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Posted by: Louis Cammarosano on December 30th, 2009 under Home Prices, Home Values, HomeGain, HomeGain Market Data

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HomeGain Releases 4th Quarter Ohio Home Prices Survey Results

Last week, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home pricesNew York home prices, New Jersey home pricesCalifornia home prices , Illinois home prices and Georgia  home prices survey results.

Earlier this week we released the Pennsyvania home prices, Colorado home prices the Arizona home prices , North Carolina home prices, the Virginia home prices,  the Washington home prices , the  Maryland home prices, the Nevada home prices and the Massachusetts home prices survey  results.

Today we are releasing the Ohio home prices survey results.

ohio

 

Set forth below is the fourth quarter Ohio home prices data with the national data in parenthesis:

  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 as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

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Posted by: Louis Cammarosano on December 30th, 2009 under Home Prices, Home Values, HomeGain, HomeGain Market Data

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HomeGain Releases 4th Quarter Maryland Home Prices Survey Results

Last week, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home pricesNew York home prices, New Jersey home pricesCalifornia home prices , Illinois home prices and Georgia  home prices survey results.

Earlier this week we released the Pennsyvania home prices, Colorado home prices the Arizona home prices , North Carolina home prices, the Virginia home prices,  the Washington home prices and Massachusetts home prices survey  results.

Today we are releasing the Maryland home prices survey results.

Set forth below is the fourth quarter Maryland home prices data with the national data in parenthesis:

  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 as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

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Posted by: Louis Cammarosano on December 28th, 2009 under Home Prices, Home Values, HomeGain, HomeGain Market Data

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HomeGain Releases 4th Quarter Washington Home Prices Survey Results

 Last week, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home pricesNew York home prices, New Jersey home pricesCalifornia home prices , Illinois home prices and Georgia  home prices survey results.

 seattle-skyline-ornament

Earlier this week we released the Pennsyvania home prices, Colorado home prices the Arizona home prices , North Carolina home prices, the Virginia home prices and Massachusetts home prices survey  results.

Today we are releasing the Washington home prices survey data.

Washington homeowners tempered their valuation expections from prior quarters. Indeed, 14% of Washington home owners believed that their homes were worth less than their Realtors recommended listing price.  In the third quarter Washingon home values survey 88% believed that their homes should be priced higher than their Realtors’ recommended listing price vs. 77% in the  second quarter Washington home values survey and vs. 69% in the current survey. (See question 2)

While  Washington home owners are tempering their home valuation expectations, a vast majority of  Washington home buyers believe that homes are over priced, with 72% holding such view. Only 7% of Washington home buyers now believe homes are fairly priced vs. 23% in the second quarter. Seventy-nine percent of Washington home buyers believed homes in their state were overpriced  in the third quarter vs. 70% who so believed so in the second quarter. (See question 3)

Fifty-five percent of Washington Realtors predict stabilizing home prices in the next six months vs. 46% of Washington Realtors who predicted price stabilization three months ago. Thirty-one percent of Washington Realtors in the current home values survey think that Washington home prices will decrease in the coming six months vs. 38% in the third quarter. (See question 6)

Sixty-four percent of Realtors in the Evergreen State approve of Obama’s performance as President vs. 42% nationally.

Set forth below is the first, second,  third and fourth quarter Washington home prices survey results with the national data in parenthesis:

  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 as a Realtor think Barack Obama is performing in his role as President?

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Posted by: Louis Cammarosano on December 27th, 2009 under Home Prices, Home Values, HomeGain, HomeGain Market Data

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HomeGain Releases 4th Quarter Virginia Home Prices Survey Results

Last Thursday, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home pricesNew York home prices, New Jersey home pricesCalifornia home prices , Illinois home prices and Georgia  home prices survey results.

Earlier this week we released the Pennsyvania home prices and Colorado home prices survey results.

Yesterday we released the Arizona home prices and Massachusetts home prices survey results.

Today we released the North Carolina home prices survey results.

We are also releasing the Virginia home prices survey results today.

According to the recent survey, Virginia home sellers continue to believe their homes are worth more than their Realtors recommended listing price. Eighty-two percent of Virginia home owners believe their homes are worth more than their Realtors’ recommended listing price. Forty-seven percent of Virginia home sellers thought their homes should be priced 10-20% higher than their Realtors” recommended listing price.

In the second quarter Virginia home prices survey, 46% of Virginia home owners thought their homes should be priced 10-20% higher than their Realtors’ recommended listing price. In the third quarter  survey 29% of home owners thought their homes should be priced 10-20% higher (see question 3).

While Virginia home sellers are raising their home price valuation expectations,  Virginia buyers are lowering theirs!. Sixty-eight percent of Virginia home buyers,  believe  that homes in their state are over priced, vs 51% in the third quarter and 58% the second quarter.  Twenty-three percent of Virginia home buyers believe that homes in their state are fairly valued vs 17% in the third quarter and 22% in the second quarter (see question 2).

Twenty-one percent of Virginia Realtors believe that home prices will decline over the next six months vs. 40% who so believed so in the third quarter and 41% in second  quarters. Fifty-eight  of Virginia Realtors believe home prices will stay the same in the coming six months vs. 46% who believed so in the third quarter and 35% who thought the same in the second quarter.  Twenty-one percent of Virginia Realtors think home prices will increase in the next six months vs. 14% who thought so in the third quarter and  24% who so thought in the second quarter.  (see question 6).

President Obama’s approval rating continued to slid with 62% of Realtorsof surveyed in the fourth quarter in the Old Dominion State disapproving of his performance as President vs. 60% disapproving in the third quarter. (see question 10).

Set forth below is the Virginia home prices survey data with the national data in parenthesis:

  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 as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

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Posted by: Louis Cammarosano on December 23rd, 2009 under Home Prices, Home Values, HomeGain, HomeGain Market Data

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