Eighty-six percent of Illinois Real Estate Professionals Predict Home Values Will Decline in the Coming Six Months; Up Seven Percent From Last Quarter
Last month, HomeGain, one of the first companies to provide free instant home valuations online, released the results of our fourth quarter 2011 nationwide home values survey of over 400 HomeGain current and former members and 2,000 home owners. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On this real estate blog we published the 4th quarter 2011 national results as well as the complete 4th quarter 2011 regional results, including commentary from real estate agents and brokers.
Earlier this month we released the California 4th quarter 2011 home values survey data and the Florida 4th quarter 2011 home values survey data, and the 4th quarter 2011 Texas home prices survey data. In the coming days we will be releasing home values survey data from New York, New Jersey, Arizona, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.
Today we are publishing the Illinois home prices survey data.
Set forth below is the fourth quarter 2011 real estate professional and home owner Illinois home prices survey data along with the third quarter 2011 real estate professional survey data and the fourth quarter 2011 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?
- If the Presidential election were today, who would you select for 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?
Question 9: What percentage of your clients are first-time buyers?
See National and Regional Survey Results
Try HomeGain’s Instant Home Values tool
Check Illionois home prices:
Search Illinois real estate
Find U.S. homes for sale and search U.S. real estate on homegain.com
Join a Chicago Real Estate discussion on HomeGain Nation
Sounds like people fleeing the rust belt due to the incredible taxes. I know that a $60,000 home might have a property tax bill of $5,000 a year in Illinois; that same $60,000 homeowner would pay $600 in Arizona with a 3% state income tax, so it is no wonder property values are going down; and probably commensurate with the increase in taxes!
December 15th, 2011 at 7:27 pm