HomeGain Releases 4th Quarter 2010 Texas Home Values Survey Results

Posted by: Louis Cammarosano on January 3rd, 2011

Texas real estate professionals and homeowners expect stabilized home values; 73% disapprove of Obama’s performance as President.

Last month, HomeGain, one of the first companies to provide free instant home valuations online, released the fourth quarter results of our nationwide home values survey of over 1000 HomeGain current and former members and 2300 home owners. The survey asked their opinions on home values and what they thought of President Obama’s performance. On this blog we published the 4th quarter 2010 national results as well as the complete 4th quarter 2010 regional results, including commentary from real estate agents and brokers.

Earlier we released the 4th quarter 2010 California home values survey and 4th quarter 2010 Florida home values survey data. In the coming days we will be releasing home values survey data from Illinois, New York, New Jersey, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.

Today we are releasing the 4th quarter 2010 Texas home value survey data. texas-state1

Forty-eight percent of Texas real estate professionals and 54% of Texas homeowners expect home prices in the Lone Star State to remain the same over the next six months. In the third quarter 2010 Texas home values survey fifty-seven percent of Texas real estate professionals and 58% of Texas homeowners expect home prices to remain the same over the next six months. The second quarter 2010 Texas home prices survey revealed that 38% of Texas real estate professionals expected prices to remain the same vs 40% who expected prices to remain the same in the second quarter 2009 Texas home prices survey.

Twenty six percent of Texas agents and brokers and 25% of Texas home owners expect home prices to rise over the next six months vs. 14% of Texas agents and brokers and 18% of Texas homeowners who expected home prices to rise over the next six months in the third quarter 2010 Texas home prices survey. In the second quarter of 2010 33% of agents and brokers and 30% of homeowners expected prices to rise in the coming six months. In the second quarter of 2009 43% of Texas real estate agents and brokers expected home prices to rise.

Twenty-six percent of Texas real estate professionals and 21% of Texas homeowners expect home prices to fall. Nationwide 12% of real estate professionals expect home prices to increase, 46% expect them to decrease and 42% expect them to stay the same. (see question 6)

Texas home owners continue to believe that their homes are worth more than their Realtors’ are telling them with 82% believing that their homes are worth more than their Realtors’ recommended listing price. According to real estate professionals surveyed, 49% of Texas homeowners believe their homes are worth 10-20% more than the recommended listing price, up from 46% in the third quarter and up from 36% in the fourth quarter of 2009. (see question 2)

An increasing percentage of Texas home buyers believe that homes are overpriced in their state. In the current survey 69% of Texas home buyers believe that home prices are over priced vs. 63% who thought so in the third quarter of 2010 and 60% who thought so in the fourth quarter of 2009. (see question 3)

President Obama’s approval rating among Texas real estate professionals dropped to 27% down from 30% in the third quarter. Fifty-eight percenf “strongly disapproved” of the President’s performance. Texas homeowners also held a dim view of the President’s performance with just 29% approving. (see question 10)

Set forth below is the fourth quarter 2010 real estate professional and home owner Texas home prices survey data along with the third quarter 2009 and 2010 real estate professional survey data along with the fourth quarter 2010 national home prices survey data: (click on each question to see complete results):