Pennsylvania home owners, like their counterparts nationally, think their homes are worth more than their Realtors’ recommended listing price. Forty-two percent of Pennsylvania home owners think their homes should be priced 10-20% higher than their Realtors recommend vs. 38% nationally (see question 2).
Pennsylvania home buyers believe homes are over priced with only 4% believing that prices are fairly valued vs. 20% nationwide. Thirty-eight percent of Pennsylvania home buyers believe homes are priced 10-20 more than they should be vs. 30% of home buyers nationally. (see question 3)
Pennsylvania Realtors are not optimistic about the direction of home prices with 42% believing they will decrease in the next six months, vs 31% who so believe nationally (see question 6).
Realtors in the Keystone state gave President a low approval rating: 37% vs. 42% nationally. Just 8% of Pennsylvania Realtors “strongly approve” of President Obama’s performance vs. 20% nationally, while 46% of Pennsylvania Realtors “strongly disapprove” of Obama’s performance vs. 40% nationally (see question 9).
1. On average, in the last year do you think your homeowner clients home values have:
Q3PA(Q3NAT/Q2NAT/Q1NAT)
Decreased:71%(81%/84%/90%)
Increased:0%(6%/3%/2%)
Stay the same:29%(13%/12%/8%)
2. On average, what do your homeowner clients believe that their home is worth?
Q3PA(Q3NAT/Q2NAT/Q1NAT)
10-20% higher:42%(38%/35%/45%)
10-20% less:8%(5%/8%/10%)
1-9% higher:25%(25%/24%/*)
1-9% less:8%(7%/9%/*)
21-30% higher:8%(8%/8%/14%)
21-30% less:0%(2%/3%/*)
At listing price you recommend:4%(11%/10%/14%)
More than 30% higher:4%(3%/2%/4%)
More than 30% less:0%(1%/2%/1%)
3. How do your home buyer clients feel that homes for sale are priced?
Q3PA(Q3NAT/Q2NAT/Q1NAT)
Fairly priced:4%(20%/19%/18%)
Overpriced by 10-20%:38%(30%/30%/32%)
Overpriced by 21%+:4%(4%/4%/10%)
Overpriced by less than 10%:50%(30%/29%/21%)
Underpriced by 10-20%:4%(8%/8%/14%)
Underpriced by 21-30%:0%(2%/1%/2%)
Underpriced by 31%+: 0%(1%/1%/2%)
Underpriced by less than 10%: 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?
Q3PA(Q3NAT/Q2NAT)
Greater than 11-20%:8%(5%/7%)
Greater than 21%:8%(3%/3%)
Greater than 5-10%:17%(9%/10%)
Less than 11-20%:8%(24%/23%)
Less than 21-30%:0%(4%/5%)
Less than 5-10%:50%(43%/43%)
Little or no difference in price:8%(12%/8%)
5. What is the average difference in price between what the home is listed at and what the home sells for?
Q3PA(Q3NAT/Q2NAT)
Greater than 11-20%:4%(4%/4%)
Greater than 21%:4% (2%/2%)
Greater than 5-10%:9%(5%/5%)
Less than 11-20%:33%(24%/27%)
Less than 21-30%:4%(3%/4%)
Less than 5-10%:42%(54%/53%)
Little or no difference in price:4%(8%/5%)
6. In the next six months, do you think the values of homes in your market will:
Q3PA(Q3NAT/Q2NAT/Q1NAT)
Decrease:42%(31%/29%/53%)
Increase:17%(23%/22%/11%)
Stay the same:42%(46%/49%/36%)
7. What percent of homes in your area are foreclosures?
Q3PA(Q3NAT/Q2NAT/Q1NAT)
Less than 10%:67%(36%/26%/37%)
10%-20%:25%(27%/15%/26%)
21%-30%:8%(17%/12%/16%)
31%-50%:0%(13%/7%/15%)
51%-75%:0%(5%/3%/5%)
75%:0%(2%/3%/2%)
8. What is the average home price in your area?
Q3PA(Q3NAT/Q2NAT/Q1NAT)
$151K-$300K:58%(52%/56%/59%)
$301K-$500K:33%(21%/20%/21%)
$501K-$800K:0%(7%/5%/6%)
$801K+:0%(2%/3%/2%)
Less than $150K:9%(18%/16%/11%)
9. How do you think Barack Obama is performing in his role as President?
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1 Response
Interesting results to question nine.