Earlier this month,  HomeGain, one of the first companies to provide free online instant home valuations, released the second quarter results of our nationwide survey of over 3500 home owners and 900 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 blog we published the complete 2nd quarter 2010 national results as well as the complete 2nd quarter 2010 regional results, including commentary from real estate agents and brokers.

We also released the second quarter 2010 California home prices survey the second quarter 2010 Florida home prices, the second quarter 2010 Texas home prices survey ,the second quarter 2010 New York home prices survey,  the second quarter 2010 New Jersey home prices survey, the second quarter 2010 Georgia home prices survey and the  second quarter 2010 Illinois home prices survey results.

Today we are releasing the North Carolina home prices survey results.

According to our home values survey, North Carolina home owners  have tempered their pricing expectations. They continue, however, to believe their homes are worth more than their Realtors’ recommend. According to the first quarter 2009 North Carolina home prices survey, 63% of North Carolina home owners believed that their homes were worth 10-20% higher than the Realtor recommended listing price. That percentage dropped to 27% in the second quarter 2009 North Carolina home prices survey rose to 32% in the third quarter 2009 and was 39% in the fourth quarter 2009 survey. In the first quarter 2010 survey, 48% of North Carolina home owners believes their homes are worth 10-20% than their Realtors’ recommended listing price. In the second quarter 2010 survey 39% of North Carolina home owners think their homes are worth 10-20% more than their Realtors’ recommended listing price. Eighty-one percent of North Carolina home owners now believe that their homes should be priced higher than the Realtor recommended listing price down from 84% in the first quarter. (see question 2).

Eighty-three percent of  North Carolina buyers believe that homes are over priced with just 17% thinking that they are fairly priced. Thirty-two percent of North Carolina home buyers believed that homes were fairly priced in the fourth quarter of 2009 vs. 26% who thought the same in the first quarter of 2010.  Forty eight percent of home buyers in the Tar Heel State believe homes are over priced by 10-20%. (See question 3)

An increasing  percentage of North Carolina real estate professionals believe  that think home prices will decrease, with 38% believing home prices will drop in the next six months vs. 24% who thought the same in the 1st quarter of 2010. Surveyed North Carolina homeowners were less pessimistic on the direction of home values with only 23% thinking that home prices would fall in the next six months.(see question 6)

Eighty-four percent of North Carolina real estate professionals surveyed disapproved of Obama’s performance as President with 65% “strongly disapproving”  vs. 71% who disapproved in the first quarter; vs. 76% who disapproved in the fourth quarter of 2009 a nd vs. 62% in the third quarter. North Carolina’s real estate professionals  rated President Obama’s lower than any state in the nation. North Carolina home owners rated the President slightly better with 57% disapproving of the President’s performance. (see question 10)

Set forth below is the agents and brokers second quarter 2009 and 2010 North Carolina home prices and the national second quarter 2010 data. Also set forth below for selected questions is the home owner response data for the second quarter of 2010. Click on each question to see complete results:

Have home prices increased, decreased or stayed the same in the last year?

1. On average, what do homeowners believe that their home is worth?
2. How do buyers feel that homes for sale are priced?
3. 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?
4. What is the average difference in price between what a home is listed at and what a home sells for?
5. In the next six months, will the values of homes in your market increase, decrease or stay the same?
6. What percentage of homes for sale are foreclosures in your area?
7. What is the average home price in your area?
8. What percentage of your clients are first-time buyers?
9. How do you think Barack Obama is performing in his role as President?

Question 1:

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