Forty-seven percent of California real estate professionals expect home prices to increase in the coming six months; 35 percent expect home values to stay the same.

HomeGain, the first company to provide free instant home valuations online, released the results of our first quarter 2012 nationwide home values survey of over 400 HomeGain current and former members and more than 1,700 home owners. The survey asked their opinions on home prices, what they thought of President Obama’s performance as President, and who they would vote for if the Presidential election were to take place today. On this real estate blog we published the 1st quarter 2012 national results as well as the complete 1st quarter 2012 regional results, including commentary from real estate agents and brokers.

Today we are releasing the California home values survey data. In the coming days we will be releasing home values survey data from Texas, Florida, Illinois, New York, Arizona and other states.

See all past California home values surveys.

Set forth below is the first quarter 2012 real estate professional and home owner California home prices survey data along with the fourth quarter 2011 real estate professional survey data and the first quarter 2011 national home prices survey data: (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 think Barack Obama is performing in his role as President?
11. If the Presidential election were today, who would you select for President?

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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, the first company 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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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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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

Our recent post announcing the newest members to our AgentEvaluator Clubs was our 1,000th blog post! Seems like a fitting post for such a milestone.

The HomeGain Blog started in Q4 2007. That puts us at a little over four years to reach this milestone. We have 3,731 total comments over our 1,000 posts. Thank you to all of our HomeGain Blog contributors. We appreciate all of your time and especially all of the great insight you to provide to readers of the blog.

We’re looking forward to the next 1,000 posts!

We are pleased to announce the Top Performing AgentEvaluator Real Estate Agents of 2011.

HomeGain real estate agents and brokers continued to have a productive and successful year, despite the questions surrounding the direction of home prices nationwide. We are proud to recognize these agents for their high level of accomplishment in association with HomeGain’s AgentEvaluator marketing program.

In addition to highlighting the 2011 Top Performers Nationwide, by Region and State, HomeGain recognizes agents who had impressive results and are deserving of honorable mentions.

HomeGain is proud to quantify the successes of our AgentEvaluator agents in 2011 and we look forward to continued success for all of our member agents in 2012.

Here are some 2011 AgentEvaluator highlights:

• HomeGain recognizes 43 of its member real estate agents who have received Top Performer awards based on nationwide, regional and state achievements.
• Overall, in 2011 HomeGain’s top four agents in the Highest Dollar Volume category earned an average of $88,072 in gross closed commissions from their HomeGain AgentEvaluator business with an average of 9 closed home sales (transactions).
• We now have a total of 1,065 member agents in the AgentEvaluator Silver, Gold, Platinum, Diamond and Million Dollar Clubs based on the following criteria:

- 2 agents are Million Dollar Club honorees, having earned over one million dollars in gross lifetime commissions from HomeGain business
- 29 agents are Diamond Club honorees, having earned over $500,000 in commissions
- 408 agents are Platinum Club honorees, having earned over $125,000 in commissions
- 329 agents are Gold Club honorees, having earned over $75,000 in commissions
- 297 agents are Silver Club honorees, having earned over $50,000 in commissions

And the 2011 Top Performers for AgentEvaluator are…

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