Ninety percent of Massachusetts homeowners think their homes are worth more than their Realtors’ recommended listing price
Last month, HomeGain,one of the first companies to provide free online instant home valuations, released the third quarter results of our nationwide survey of over 1,100 HomeGain current and former members and 2,600 homeowners. Our survey asked their opinions on home values and what they thought of President Obama’s performance as President. On this blog we published the 3rd quarter 2010 national results as well as the complete 3rd quarter 2010 regional results, including commentary from real estate agents and brokers.
Recently, we released the results of the 3rd quarter 2010 California home values survey, the 3rd quarter 2010 Texas home values survey, the 3rd quarter 2010 Florida home values survey, the 3rd quarter 2010 New York home values survey, the 3rd quarter 2010 New Jersey home values survey , the 3rd quarter 2010 Illinois home values survey the 3rd quarter 2010 North Carolina home values survey the 3rd quarter 2010 Ohio home values survey, the 3rd quarter 2010 Nevada home values survey, the 3rd quarter 2010 Michigan home values survey the 3rd quarter 2010 Colorado home values survey ,the 3rd quarter 2010 Washington home values survey, the 3rd quarter 2010 Pennsylvania home prices survey the 3rd quarter 2010Virginia home values survey , the 3rd quarter 2010 Arizona home values survey and the 3rd quarter 2010 Georgia home prices survey.
Today we are releasing the Massachusetts home prices survey data.
In the second quarter 2010 Massachusetts home values survey, 90% of Massachusetts homeowners believed their homes were worth more than their Realtors’ recommended listing price. In the current survey 91% of Massachusetts homeowners believe their homes are worth more that their Realtors’ recommended listing price. Forty-eight percent believed that their homes should be prices 10-20% higher than their Realtors’ recommended listing price and 43% thought their homes should be priced 1-9% higher. (See question 2)
In the current survey only 4% of Massachusetts home buyers thought homes were fairly valued. Seventy percent of Massachusetts home buyers think that homes are just 1-9% overpriced. (see question 3)
Thirty five percent of Massachussets real estate agents and brokers think that homes prices fall over the next six months unchanged from the second quarter. Surveyed Massachussets home owners were more pessimistic about the direction of home values over the next six months with 43% expecting the value of their homes to drop over the next six months. (See question 6)
Surveyed Massachusetts agents and brokers gave President Obama lower marks in the second quarter with 70% indicating they disapproved of the President’s performance unchanged from the second quarter. In the first quarter 56% of Massachusetts agents and brokers surveyed approved the President’s performance . Massachusetts home owners rated the President higher than their real estate professional counterparts, with 51% approving his performance. (See question 10)
Set forth below is the third quarter 2010 real estate professional and homeowner Massachusetts home values survey data along with the 2nd quarter 2009 and 2010 real estate professional survey data along with the third quarter 2010 national home prices survey data. Click on each question to see complete results:
- Have home prices increased, decreased or stayed the same in the last year?
- On average, what do homeowners believe that their home is worth?
- How do buyers feel that homes for sale are priced?
- 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?
- What is the average difference in price between what a home is listed at and what a home sells for?
- In the next six months, will the values of homes in your market increase, decrease or stay the same?
- What percentage of homes for sale are foreclosures in your area?
- What is the average home price in your area?
- What percentage of your clients are first-time buyers?
- How do you think Barack Obama is performing in his role as President?
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 7. What percent of homes in your area are foreclosures?
Question 8. What is the average home price in your area?
See National and Regional Survey Results
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December 3rd, 2010 at 5:26 am