HomeGain Releases 2nd Quarter 2010 Virginia Home Prices Survey Results

Posted by: Louis Cammarosano on August 4th, 2010

In July, 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 surveysecond quarter 2010 Illinois home prices survey and the second quarter 2010 North Carolina home prices survey results.

Today we are releasing the Virginia home prices survey results today.

In the second quarter 2010 survey, Virginia home sellers continue to believe their homes are worth more than their agents’ recommended listing price. Seventy-five percent of Virginia home owners believe their homes are worth more than their agents” recommended listing price vs. 75% who thought so in the 1st quarter 2010 Virgina home values survey and 82% who thought so in the Virginia 2009 fourth quarter home prices survey. Forty-one percent percent of Virginia home sellers thought their homes should be priced 10-20% higher than their agents” recommended listing price vs 38% who thought the same in the first quarter.

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).

Virginia home buyers continue to believe home prices are over valued. Fifty-nine percent of Virginia home buyers believe that homes in their state are over priced, vs. 67% in the first quarter of 2010 vs. 68% in the fourth quarter of 2009, 51% in the third quarter and 58% the second quarter. Twenty-six percent of Virginia home buyers believe that homes in their state are fairly valued vs. 21% in the first quarter of 2010 vs. 23% in the fourth quarter of 2009, 17% in the third quarter and 22% in the second quarter (see question 3).

Fifty two 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 first quarter of 2010. Twenty two percent of Virginia agents and brokers think home prices will increase in the next six months vs. 19%  who thought so in the first quarter of 2010 vs.  21% who thought so in the fourth quarter of 2009.  Virginia home owners surveyed had similar views on the direction of home prices with 53%  thinking home prices will stay the same and 21% thinking they would increase over the next six months  (see question 6).

President Obama’s approval rating continues to plummet among agents and brokers in Old Dominion with 63% disapproving (with 44% ”strongly disapproving”) vs. 61%  disapproving of the Presidents performance in the  first quarter of 2010, vs. 62% disapproving in the fourth quarter of 2009 and 60% disapproving in the third quarter of 2009. The President fared better among Virginia homeowners with 50% approving and 50% disapproving of the his performance. (see question 10).

Set forth below is the agents and brokers second quarter 2009 and 2010 Virginia home values 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:

  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

Louis Cammarosano
homegain.com

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