HomeGain Releases 1st Quarter 2010 Virginia Home Prices Survey Results

Posted by: Louis Cammarosano on April 13th, 2010

Last month, HomeGain, one of the first companies to provide free instant home valuations online, released the national and regional results of our 2010 1st quarter home prices survey of more than 1,400 HomeGain  members. The survey asked real estate agents and brokers their opinions on home values and what they thought of Barack Obama’s performance as President. On the HomeGain real estate blog we published the full survey results, including agent and broker commentary and charts. Recently, we published the results of the first quarter 2010 Texas home prices survey, Florida home prices survey , California home prices survey, New York home prices survey , New Jersey home prices survey , Illinois home prices survey, Georgia home prices survey, Pennsylvania home prices survey , Arizona home prices survey, North Carolina home prices survey, Massachusetts home prices survey, Nevada home prices survey and Ohio home prices survey results.

Today we are 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 agents’ recommended listing price. Seventy-eight percent of Virginia home owners believe their homes are worth more than their agents” recommended listing price vs. 82% who thought so in the Virginia 2009 fourth quarter home prices survey. Thirty-eight  percent of Virginia home sellers thought their homes should be priced 10-20% higher than their agents” 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 2009 Virginia home prices survey 29% of home owners thought their homes should be priced 10-20% higher and in the fourth quarter 47% thought their homes should be prices 10-20% higher (see question 2).

While Virginia home sellers are lowering their home price valuation expectations, Virginia buyers still believe home prices are over valued. Sixty-sevent percent of Virginia home buyers, believe that homes in their state are over priced, vs. 68% in the fourth quarter of 2009, 51% in the third quarter and 58% the second quarter. Twenty-one percent of Virginia home buyers believe that homes in their state are fairly valued vs. 23% in the fourth quarter of 2009,  17% in the third quarter and 22% in the second quarter (see question 3).

Twenty-three percent of Virginia agents and brokers believe that home prices will decline over the next six months vs. 21% who believed so in the fourth quarter of 2009, 40% who so believed so in the third quarter and 41% in second quarters. Fifty-eight percent of Virginia agents and brokers believe home prices will stay the same in the coming six months vs. 58% who believed the same in the fourth quarter of 2009 vs. 46% who believed so in the third quarter and 35% who thought the same in the second quarter. Nineteen percent of Virginia agents and brokers think home prices will increase in the next six months vs. 21% who thought so in the fourth quarter of 2009 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 continues to be negative with 61% of surveyed agents and brokers in Old Dominion disapproving of the Presidents performance vs. a 62% disapproval rating in the fourth quarter of 2009 and a 60% disapproval rating in the third quarter. (see question 10).

Set forth below is the 1st and 2nd quarter Virginia home prices survey data with the 1st quarter 2010 data:

  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?


Question 1:

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Question 2. On average, what do your homeowner clients believe that their home is worth?
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Question 3. How do your home buyer clients feel that homes for sale are priced?
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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?

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Question 5. What is the average difference in price between what the home is listed at and what the home sells for?

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Question 6:

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Question 7. What percent of homes in your area are foreclosures?

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Question 8. What is the average home price in your area?

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Question 9:

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* Dash denotes no related data

Question 10:

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* Dash denotes no related data

See National and Regional Survey Results

Try HomeGain’s Instant Home Prices Tool

Check Home Prices in Virginia cities:

Virginia Beach home prices

Norfolk home prices

Chesapeake home prices

Richmond home prices

Arlington home prices

Newport News home prices

Hampton home prices

Alexandria home prices

Portsmouth home prices

Roanoke home prices

Lynchburgh home prices

Reston home prices

Find Chesapeake homes for sale

Search Chesapeake real estate

Find Richmond homes for sale

Search Richmond real estate

Find Norfolk homes for sale

Search Norfolk real estate

Find Viginia Beach homes for sale

Search Virginia Beach real estate

View Virginia homes for sale.

Find U.S. homes for sale and search U.S. real estate on homegain.com

HomeGain real estate home values survey results are based on responses of over 1,150 Realtors in the United States. State survey results for Q2 are available for the following states : Texas home prices survey, Florida home prices survey, California home prices survey, New York home prices survey, New Jersey home prices survey, Georgia home prices survey, Arizona home prices survey, North Carolina home prices survey,Virginia home prices survey ,Colorado home prices survey ,Massachusetts home prices survey , Washington home prices survey

Louis Cammarosano
homegain.com

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