Earlier this week HomeGain, one of the first companies to provide free instant home valuations online, released the first quarter results of our nationwide survey of over 1,400 HomeGain current and former members. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On this real estate blog we published the national results as well as the complete 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, New Jersey, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.
The 1st quarter 2010 California home prices survey data reflects some changes from the 4th quarter California home prices survey. In the fourth quarter 25% of home buyers thought that homes in the Golden State were fairly valued vs. 30% who think so in the current survey. (see question 3) Forty-eight percent of California home buyers still believe that homes are over priced as they did in the fourth quarter vs. 65% who so believed in the second quarter.
In the first quarter 2010 survey a decreasing percentage of California real estate agents and brokers expect home prices to rise with 36% of California agents and brokers expecting home prices to rise in the next six months vs. 41% who thought home prices would rise in the 2009 fourth quarter survey. In the 2009 third quarter California home prices survey 34% of California real estate professionals thought prices would rise, while 22% thought they would rise in the second quarter survey vs. just 9% thought so in the first quarter survey. (see question 6)
Fifty-five percent of California real estate professionals somewhat approve or strongly approve of Obama’s performance as President vs. 57% in the fourth quarter of 2009 and 51% in the third quarter. This contrasts favorably to Obama’s 42% approval rating nationally in the first quarter 2010 survey. (see question 10)
In the second quarter survey 65% of California agents and brokers approved of Obama’s performance vs. 57% nationally.
Set forth below is the first quarter 2009 and 2010 California home prices data with the first quarter 2010 national data: (click on each question to see complete results):
- Have home prices increased, decreased or stayed the same in the last year?
- On average, what do homeowners believe that their home is worth?
- How do buyers feel that homes for sale are priced?
- 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?
- What is the average difference in price between what a home is listed at and what a home sells for?
- In the next six months, will the values of homes in your market increase, decrease or stay the same?
- What percentage of homes for sale are foreclosures in your area?
- What is the average home price in your area?
- What percentage of your clients are first-time buyers?
- How do you think Barack Obama is performing in his role as President?
Question 2. On average, what do your homeowner clients believe that their home is worth?
Question 3. How do your home buyer clients feel that homes are priced?
Question 4. What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the house?
Question 5. What is the average difference in price between what the home is listed at and what the home sells for?
* Dash denotes no related data
* Dash denotes no related data
Check California home prices
HomeGain third quarter real estate home values survey results are based on responses of nearly 1,100 Realtors in the United States. State survey results for Q3 are available for the following states : Florida home values, Texas home values