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HomeGain Releases 3rd Qtr Georgia Home Prices Survey

Earlier this week, HomeGain, the first website to provide free instant home values, released the national and regional results of our  home prices survey of 1,084 HomeGain members. We asked their opinions on home prices and of  Obama’s performance as President. On this real estate blog we published the complete national and regional third quarter results.

Earlier this week we published the results of the California home prices, Texas home prices , Florida home prices surveys. Yesterday  we published the Massachusettes home prices survey data, the  New York home prices surveydata, the New Jersey home prices survey data, the North Carolina home prices survey, and the Illinois home prices survey data.

Today we release the result of the Georgia home prices survey.

In the first quarter Georgia home values survey, Realtors expressed the belief that home buyers thought homes were over valued. In the second quarter Georgia home prices survey not much changed with just 8% of Georgia home buyers believing that homes were fairly priced (vs.5% in the first quarter survey).

In the current survey Georgia home buyers continue to believe that homes in their state are over valued with just 5% saying that homes were fairly priced and 36% saying homes were overpriced by 10-20%. (see question 3)

Georgia home sellers continue to believe their homes are worth more than their Realtors are telling them. Just 5% of Georgia home owners agreed with their Realtors’ recommended listing price. Thirty-nine percent of Georgia homeowners believe their homes should be priced 10-20% higher than their Realtors’ recommended listing price. (see question 2)

Not surprising, 79% of homes in Georgia, according to Realtors surveyed, sell for 5-20% less than the listing price. (see question 5)

Three months ago 42% of Georgia Realtors expected home values to decline in the next six months. In the second quarter 27% of Georgia Realtors believed home prices would fall in the next six months.  In the current survey 32% of Georgia Realtors expect continued home price decreases while 45% expect prices to remain the same and 25% expect prices to increase. (see question 6)

In the second quarter, fifty-eight percent of Georgia Realtors somewhat approved or strongly approved of Obama’s performance as President. The President’s approval rating in the Peach State fell to 30% in the current survey. (see question 9)

Set forth below is the first, second, and third quarter Georgia 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:

Q3GA/Q2GA/Q1GA (Q3NAT/Q2NAT/Q1NAT)

Decreased: 98%/76%/82% (81%/84%/90%)

Increased: 0%/6%/0% (6%/3%/2%)

Stay the same: 2%/18%/8% (13%/12%/8%)

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

Q3GA/Q2GA/Q1GA (Q3NAT/Q2NAT/Q1NAT)

10-20% higher: 39%/39%/45% (38%/35%/45%)

10-20% less: 11%/3%/16% (5%/8%/10%)

1-9% higher: 14%/34%/* (25%/24%/*)

1-9% less: 14%/0%/* (7%/9%/*)

21-30% higher: 9%/8%/16% (8%/8%/14%)

21-30% less: 2%/3%/* (2%/3%/*)

At listing price you recommend: 5%/10%/11% (11%/10%/14%)

More than 30% higher: 5%/3%/5% (3%/2%/4%)

More than 30% less: 22%/0%/* (1%/2%/1%)

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

Q3GA/Q2GA/Q1GA (Q3NAT/Q2NAT/Q1NAT)

Fairly priced: 5%/8%/5% (20%/19%/18%)

Overpriced by 10-20%: 36%/32%/32% (30%/30%/32%)

Overpriced by 21%+: 7%/3%/8% (4%/4%/10%)

Overpriced by less than 10%: 30%/42%/18% (30%/29%/21%)

Underpriced by 10-20%: 16%/6%/24% (8%/8%/14%)

Underpriced by 21-30%: 2%/3%/3% (2%/1%/2%)

Underpriced by 31%+: 0%/0%/8% (1%/1%/2%)

Underpriced by less than 10%: 5%/5%/0% (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?

Q3GA/Q2GA (Q3NAT/Q2NAT)

Greater than 11-20%: 2%/2% (5%/7%)

Greater than 21%: 7%/5% (3%/3%)

Greater than 5-10%: 5%/3% (9%/10%)

Less than 11-20%: 30%/32% (24%/23%)

Less than 21-30%: 7%/8% (4%/5%)

Less than 5-10%: 36%/45% (43%/43%)

Little or no difference in price: 14%/5% (12%/8%)

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

Q3GA/Q2GA (Q3NAT/Q2NAT)

Greater than 11-20%: 2%/2% ((4%/4%)

Greater than 21%: 2%/3% (2%/2%)

Greater than 5-10%: 7%/2% (5%/5%)

Less than 11-20%: 36%/26% (24%/27%)

Less than 21-30%: 9%/6% (3%/4%)

Less than 5-10%: 43%/55% (54%/53%)

Little or no difference in price: 0%/6% (8%/5%)

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

Q3GA/Q2GA/Q1GA (Q3NAT/Q2NAT/Q1NAT)

Decrease: 32%/27%/42% (31%/29%/53%)

Increase: 25%/27%/16% (23%/22%/11%)

Stay the same: 43%/45%/42% (46%/49%/36%)

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

Q3GA/Q2GA/Q1GA (Q3NAT/Q2NAT/Q1NAT)

Less than 10%: 25%/39%/26% (36%/26%/37%)

10%-20%: 41%/34%/42% (27%/15%/26%)

21%-30%: 27%/16%/16% (17%/12%/16%)

31%-50%: 5%/3%/13% (13%/7%/15%)

51%-75%: 2%/6%/3% (5%/3%/5%)

75%: 0%/2%/0% (2%/3%/2%)

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

Q3GA/Q2GA/Q1GA (Q3NAT/Q2NAT/Q1NAT)

$151K-$300K: 70%/58%/74% (52%/56%/59%)

$301K-$500K: 16%/19%/20% (21%/20%/21%)

$501K-$800K: 0%/3%/0% (7%/5%/6%)

$801K+: 0%/5%/0% (2%/3%/2%)

Less than $150K: 14%/15%/6% (18%/16%/11%)

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

Q3GA/Q2GA (Q3NAT/Q2NAT)

Somewhat approve – 9%/27% (21%/31%)

Somewhat disapprove – 20%/13% (19%/19%)

Strongly approve – 18%/31% (20%/26%)

Strongly disapprove – 50%/29% (40%/24%)

* Data not available

See National and Regional Survey Results

Try HomeGain’s Instant Home Prices Tool

Check Home Prices in Georgia cities on homegain.com:
Atlanta home prices
Rosewell home prices
Macon home prices
Athens home prices
Albany home prices
Savannah home prices
Columbus home prices
Augusta home price
Marietta home prices
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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 : Texas home prices survey, Florida home prices survey, California home prices survey, New York home prices survey, New Jersey home prices survey, Georgia home prices survey, Arizona home prices survey, North Carolina home prices survey,Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey

Louis Cammarosano

homegain.com

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Comments

arrow1 Response

  1. 116 mos ago

    The prices of North Atlanta Real Estate are still jsut steadily dropping. Rob

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