Sixty-five percent of New Jersey Real Estate Professionals expect home values to drop in the coming six months

Last month, HomeGain, one of the first companies to provide free instant home valuations online, released the results of our second quarter 2011 nationwide home values surveyof over 750 HomeGain current and former members and 1600 home owners. 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 2nd quarter 2011 national results as well as the complete 2nd quarter 2011 regional results, including commentary from real estate agents and brokers.

Earlier this month we released the California 2nd quarter 2011 home values survey data and the Florida 2nd quarter 2011 home values survey data, the 2nd quarter 2011 Texas home prices survey data and the 2nd quarter 2011 New York home prices survey data. In the coming days we will be releasing home values survey data from Illinois, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.

Today we are publishing the New Jersey home prices survey data.

Set forth below is the second quarter 2011 real estate professional and home owner New Jersey home prices survey data along with the first quarter 2011 national home prices survey data and the second quarter 2010 real estate professional survey data: (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:

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 for sale 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?

Question 6:

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

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

Question 9:

Question 10:

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Louis Cammarosano