Yesterday, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our third quarter home prices survey of nearly 1100 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results. Yesterday, we published the results of the third quarter California home prices survey.
Today we are releasing the Florida home prices survey data.
The survey shows an increase in the percentage of home buyers who believe that home prices are fairly valued. In the third quarter 24% of buyers thought home prices in the Sunshine state were fairly valued, vs 18% who so believed in the second quarter Florida home prices survey and and 15% who so believed in the first quarter Florida home prices survey. (see question 3)
The percentage of Florida Realtors surveyed in the third quarter who believe that home prices in their state will decrease in the next six months increased sharply from the second quarter with 46% of believing that home values will fall in the next six months vs. 24% who so believed in the second quarter. (see question 6)
President Obama’s approval rating fell among Florida Realtors from 57% in the second quarter to 43% in the third quarter. This is roughly inline with the national drop in the President’s approval rating. (see question 9)
Set forth below is the first, second and third quarter Florida 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:
Q3FL/Q2FL/Q1FL (Q3NAT/Q2NAT/Q1NAT)
Decreased: 93%/82%/100% (81%/84%/90%)
Increased: 3%/5%/0% (6%/3%/2%)
Stay the same: 4%/13%/0% (13%/12%/8%)
2. On average, what do your homeowner clients believe that their home is worth?
Q3FL/Q2FL/Q1FL (Q3NAT/Q2NAT/Q1NAT)
10-20% higher: 35%/33%/35% (38%/35%/45%)
10-20% less: 1%/7%/6% (5%/8%/10%)
1-9% higher: 12%/22%/* (25%/24%/*)
1-9% less: 7%/10%/9% (7%/9%/*)
21-30% higher: 17%/8%/19% (8%/8%/14%)
21-30% less: 3%/7%/* (2%/3%/*)
At listing price you recommend: 15%/10%/5% (11%/10%/14%)
More than 30% higher: 6%/2%/16% (3%/2%/4%)
More than 30% less: 4%/2%/* (1%/2%/1%)
3. How do your home buyer clients feel that homes for sale are priced?
Q3FL/Q2FL/Q1FL (Q3NAT/Q2NAT/Q1NAT)
Fairly priced: 24%/18%/15% (20%/19%/18%)
Overpriced by 10-20%: 36%/25%/35% (30%/30%/32%)
Overpriced by 21%+: 8%/6%/12% (4%/4%/10%)
Overpriced by less than 10%: 18%/32%/14% (30%/29%/21%)
Underpriced by 10-20%: 9%/8%/14% (8%/8%/14%)
Underpriced by 21-30%: 1%/4%/4% (2%/1%/2%)
Underpriced by 31%+: 1%/2%/* (1%/1%/2%)
Underpriced by less than 10%: 4%/5%/* (5%/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?
Q3FL/Q2FL (Q3NAT/Q2NAT)
Greater than 11-20%: 7%/8% (5%/7%)
Greater than 21%: 6%/3% (3%/3%)
Greater than 5-10%: 8%/5% (9%/10%)
Less than 11-20%: 36%/25% (24%/23%)
Less than 21-30%: 7%/6% (4%/5%)
Less than 5-10%: 30%/46% (43%/43%)
Little or no difference in price: 8%/7% (12%/8%)
5. What is the average difference in price between what the home is listed at and what the home sells for?
Q3FL/Q2FL (Q3NAT/Q2NAT)
Greater than 11-20%: 4%/5% (4%/4%)
Greater than 21%: 4%/1% (2%/2%)
Greater than 5-10%: 4%/6% (5%/5%)
Less than 11-20%: 32%/25% (24%/27%)
Less than 21-30%: 2%/5% (3%/4%)
Less than 5-10%: 50%/54% (54%/53%)
Little or no difference in price: 5%/4% (8%/5%)
6. In the next six months, do you think the values of homes in your market will:
Q3FL/Q2FL/Q1FL (Q3NAT/Q2NAT/Q1NAT)
Decrease: 46%/24%/64% (31%/29%/53%)
Increase: 14%/23%/8% (23%/22%/11%)
Stay the same: 40%/52%/28% (46%/49%/36%)
7. What percent of homes in your area are foreclosures?
Q2FL/Q1FL (Q3NAT/Q2NAT/Q1NAT)
Less than 10%: 19%/40%/16% (36%/26%/37%)
10%-20%: 12%/27%/7% (27%/15%/26%)
21%-30%: 12%/18%/27% (17%/12%/16%)
31%-50%: 29%/12%/31% (13%/7%/15%)
51%-75%: 6%/3%/18% (5%/3%/5%)
75%: 8%/4%/1% (2%/3%/2%)
8. What is the average home price in your area?
Q3FL/Q2FL/Q1FL (Q3NAT/Q2NAT/Q1NAT)
$151K-$300K: 58%/56%/69% (52%/56%/59%)
$301K-$500K: 8%/20%/11% (21%/20%/21%)
$501K-$800K: 5%/6%/3% (7%/5%/6%)
$801K+: */2%/0% (2%/3%/2%)
Less than $150K: 30%/17%/18% (18%/16%/11%)
9. How do you think Barack Obama is performing in his role as President?
Q3FL/Q2FL (Q3NAT/Q2NAT)
Somewhat approve: 21%/27% (21%/31%)
Somewhat disapprove: 15%/19% (19%/19%)
Strongly approve: 22%/27% (20%/26%)
Strongly disapprove: 42%/26% (40%/24%)
* Data not available
See National and Regional Survey Results
Try HomeGain’s Instant Home Values tool
Search Florida real estate
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 : California home prices, Texas home prices, Florida home prices, New York home prices, New Jersey home prices, Illinois home prices, Georgia home prices, Arizona home prices and North Carolina home prices,Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey
Third quarter survey data is available for California home values,
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I always appreciate this data. Thanks!
August 26th, 2009 at 11:06 am
This survey isn’t so bad.
August 30th, 2009 at 7:44 pm