HomeGain Releases 2nd Qtr California Home Prices Survey Data

Posted by: Louis Cammarosano on May 20th, 2009

Earlier this week HomeGain, the first company to provide free instant home valuations onlinereleased the results of a nationwide survey of nearly 1150 HomeGain current and former Realtor members. The survey asked their opinions on home prices and what they thought of President Obama’s performance as Presidence so far.  On this real estate blog we published the national and regional 2nd Qtr results.

Yesterday HomeGain published the 2nd Qtr Texas home prices survey data. Today we are releasing the California home values survey data. In the coming days we will be releasing survey data from Florida, Illinois, New York, New Jersey, Arizona and other states.

The 2nd Qtr California home prices survey data reflects some significant  changes from the 1st quarter California home values survey. In the first quarter 69% California Realtors surveyed expected home values to decline. In the second quarter only 27% of California Realtors surveyed expect a further decline in home prices.

According to California Realtors, Californa home buyers are increasingly of the opinion that homes are overpriced with only 35% believing that California home prices are fairly or under valued vs. 40% who held that opinion in the first quarter.

Fifty-seven percent of California Realtors believe that the Obama Stimulus package has not had or will have any impact on home prices vs. 42% who believe the same in the first quarter.

Sixty-five percent of California Realtors somwhat approve or strongly approve of Obama’s performance as President, vs. 57% nationally.

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

1. On average, in the last year do you think your homeowner clients home values have:


Decreased:       85%/98% (84%/90%)

Increased:        4%/2% (3%/2%)

Stay the same: 10%/0% (12%/8%)

2. On average, what do your homeowner clients believe that their home is worth?


10-20% higher: 35%/31% (35%/45%)

10-20% less:              9%/6% (8%/10%)

1-9% higher:              23%/* (24%/*)

1-9% less:                  9%/* (9%/*)

21-30% higher:          8%/16% (8%/14%)

21-30% less:              2%/* (3%/*)

At listing price you recommend: 10%/19% (10%/14%)

More than 30% higher: 3%/* – (2%/4%)

More than 30% less:    1%/* (2%/1%)

3. How do your home buyer clients feel that homes are priced?


Fairly priced:                         18%/23% – (19%/18%)

Overpriced by 10-20%:         35%/29% (30%/32%)

Overpriced by 21%+:             4%/* (4%/10%)

Overpriced by less than 10%: 25%/17% (29%/21%)

Underpriced by 10-20%:        10%/11% (8%/14%)

Underpriced by 21-30%:        1%/6% (1%/2%)

Underpriced by 31%+:            2%/* (1%/2%)

Underpriced by less than 10%: 4%/* (5%/5%)

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?


Greater than 11-20%:     8% (7%)

Greater than 21%:           3% (3%)

Greater than 5-10%:       16% (10%)

Less than 11-20%:         25% (23%)

Less than 21-30%:         1% (5%)

Less than 5-10%:           40% (43%)

Little or no difference in price: 5% (8%)

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


Greater than 11-20%:   4% (4%)

Greater than 21%:         1% (2%)

Greater than 5-10%:     9% (5%)

Less than 11-20%:       26% (27%)

Less than 21-30%:       3% (4%)

Less than 5-10%:         54% (53%)

Little or no difference in price: 4% (5%)

6. In the next six months, do you think the values of homes in your market will:


Decrease:         27%/69% (29%/53%)

Increase:          22%/9% (22%/11%)

Stay the same: 51%/23% (49%/36%)

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


Less than 10%:     40%/25% (26%/37%)

10%-20%:            26%/15% (15%/26%)

21%-30%:            11%/19% (12%/16%)

31%-50%:            13%/28% (7%/15%)

51%-75%:            9%/8% (3%/5%)

75%:                    1%/5% (3%/2%)

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


$151K-$300K:   56%/19% (56%/59%)

$301K-$500K:   30%/38% (20%/21%)

$501K-$800K:   4%/26% (5%/6%)

$801K+:             1%/8% (3%/2%)

Less than $150K: 9%/4% (16%/11%)

9. In your opinion, what impact has the Obama Stimulus package had or will have on home values this year?


Decreased home prices:   7%/17% (8%/13%)

Increased home prices:    1%/4% (3%/4%)

No impact:                       57%/42% (55%/45%)

Stabilized home prices:    34%/37% (34%/38%)

10. How do you think Barack Obama is performing in his role as President?


Somewhat approve:      36% (31%)

Somewhat disapprove: 14% (19%)

Strongly approve:         29% (26%)

Strongly disapprove:    21% (24%)

* Data not available.

See Q2 National and Regional Results

Try HomeGain’s Instant Home Values tool

California information:

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Long Beach home values

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Santa Barbara home values

Anaheim home values

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Stockton home values

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Modesto home values

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Join the San Francisco real estate market discussion on HomeGain Nation

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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 : California home prices, Texas home prices, Florida home prices, New York home prices, New Jersey home prices, Illinois home prices, Georgia home pricesArizona home prices , North Carolina home prices,Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey

Louis Cammarosano




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