HomeGain Releases 4th Quarter Florida Home Prices Survey Results

Posted by: Louis Cammarosano on December 11th, 2009

Yesterday, HomeGain, one of he first companies to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Yesterday, we published the results of the fourth quarter Texas home prices and California home prices survey results.

Today we are releasing the Florida home prices survey data.

The survey shows that nearly half of home buyers in the Sunshine state believe that home prices are either fairly priced or just 1-10% over priced (46%) vs 42% who thought so in the third quarter Florida home prices survey. In the third quarter, 36% of home buyers thought home prices were over priced by 10-20% vs 23% who so thought so in the fourth quarter.

In the fourth quarter 23% of home buyers thought home prices were fairly valued vs. 24%  who so believed in the third quarter, vs. 18% who so believed in the second quarter  Florida home prices survey and vs. 15% who so believed in the first quarter Florida home prices survey. (see question 3)

The percentage of Florida Realtors surveyed in the fourth quarter who believe that home prices in their state will decrease in the next six months decreased sharply from the third quarter  with 34%  believing that home values will fall in the next six months vs. 46% who so believed in the second quarter. (see question 6)

President Obama’s approval rating continued to fall among Florida Realtors with 65% “strongly” (52%) or “somewhat” (13%) disapproving of the President’s performance up from a disapproval rating of 57% in the third quarter and 45% in the second quarter. This represents a divergence from the national average in which 56% of surveyed Realtors expressed their disapproval (see question 10)

Set forth below is the first, second, third and fourth quarter Florida home prices data with the national data in parenthesis: (click on each question to see complete results):

  1. Have home prices increased, decreased or stayed the same in the last year?
  2. On average, what do homeowners believe that their home is worth?
  3. How do buyers feel that homes for sale are priced?
  4. 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?
  5. What is the average difference in price between what a home is listed at and what a home sells for?
  6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
  7. What percentage of homes for sale are foreclosures in your area?
  8. What is the average home price in your area?
  9. What percentage of your clients are first-time buyers?
  10. How do you as a Realtor think Barack Obama is performing in his role as President?

Question 1:

q4s_q1_flstate

Q4FL/Q3FL/Q2FL/Q1FL compared to (Q4NAT/Q3NAT/Q2NAT/Q1NAT)

Decreased: 89%/93%/82%/100% (77%/81%/84%/90%)

Increased: 4%/3%/5%/0% (7%/6%/3%/2%)

Stay the same: 7%/4%/13%/0% (15%/13%/12%/8%)

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

Q4FL/Q3FL/Q2FL/Q1FL compared to (Q4NAT/Q3NAT/Q2NAT/Q1NAT)

10-20% higher: 38%/35%/33%/35% (40%/38%/35%/45%)

21-30% higher: 19%/17%/8%/19% (6%/8%/8%/14%)

1-9% higher: 9%/12%/22%/* (28%/25%/24%/*)

10-20% less: 8%/1%/7%/6% (5%/5%/8%/10%)

At listing price you recommend: 7%/15%/10%/5% (9%/11%/10%/14%)

1-9% less: 6%/7%/10%/9% (7%/7%/9%/*)

More than 30% higher: 6%/6%/2%/16% (2%/3%/2%/4%)

21-30% less: 4%/3%/7%/* (2%/2%/3%/*)

More than 30% less: 2%/4%/2%/* (1%/1%/2%/1%)

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

Q4FL/Q3FL/Q2FL/Q1FL compared to (Q4NAT/Q3NAT/Q2NAT/Q1NAT)

Fairly priced: 23%/24%/18%/15% (21%/20%/19%/18%)

Overpriced by 10-20%: 23%/36%/25%/35% (28%/30%/30%/32%)

Overpriced by less than 10%: 23%/18%/32%/14% (32%/30%/29%/21%)

Underpriced by 10-20%: 11%/9%/8%/14% (7%/8%/8%/14%)

Underpriced by less than 10%: 9%/4%/5%/* (5%/5%/5%/5%)

Underpriced by 21-30%: 4%/1%/4%/4% (3%/2%/1%/2%)

Underpriced by 31%+: 5%/1%/2%/* (1%/1%/1%/2%)

Overpriced by 21%+: 2%/8%/6%/12% (3%/4%/4%/10%)

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?

Q4FL/Q3FL/Q2FL compared to (Q4NAT/Q3NAT/Q2NAT)

Less than 11-20%: 25%/36%/25% (23%/24%/23%)

Less than 5-10%: 34%/30%/46% (48%/43%/43%)

Less than 21-30%: 14%/7%/6% (4%/4%/5%)

Greater than 5-10%: 9%/8%/5% (8%/9%/10%)

Little or no difference in price: 7%/8%/7% (9%/12%/8%)

Greater than 21%: 6%/6%/3% (3%/3%/3%)

Greater than 11-20%: 5%/7%/8% (5%/5%/7%)

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

Q4FL/Q3FL/Q2FL (Q4NAT/Q3NAT/Q2NAT)

Less than 5-10%: 49%/50%/54% (56%/54%/53%)

Less than 11-20%: 30%/32%/25% (23%/24%/27%)

Little or no difference in price: 7%/5%/4% (7%/8%/5%)

Greater than 11-20%: 5%/4%/5% (3%/4%/4%)

Greater than 5-10%: 4%/4%/6% (6%/5%/5%)

Greater than 21%: 3%/4%/1% (2%/2%/2%)

Less than 21-30%: 2%/2%/5% (3%/3%/4%)

Question 6:

q4s_q6_flstate

Q4FL/Q3FL/Q2FL/Q1FL compared to (Q4NAT/Q3NAT/Q2NAT/Q1NAT)

Stay the same: 50%/40%/52%/28% (48%/46%/49%/36%)

Decrease: 34%/46%/24%/64% (28%/31%/29%/53%)

Increase: 16%/14%/23%/8% (24%/23%/22%/11%)

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

Q4FL/Q3FL/Q2FL/Q1FL compared to (Q4NAT/Q3NAT/Q2NAT/Q1NAT)

10%-20%: 30%/12%/27%/7% (29%/27%/15%/26%)

21%-30%: 21%/12%/18%/27% (19%/17%/12%/16%)

31%-50%: 21%/29%/12%/31% (9%/13%/7%/15%)

Less than 10%: 18%/19%/40%/16% (37%/36%/26%/37%)

51%-75%: 9%/6%/3%/18% (4%/5%/3%/5%)

75%: 1%/8%/4%/1% (2%/2%/3%/2%)

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

Q4FL/Q3FL/Q2FL/Q1FL compared to (Q4NAT/Q3NAT/Q2NAT/Q1NAT)

$151K-$300K: 53%/58%/56%/69% (55%/52%/56%/59%)

Less than $150K: 29%/30%/17%/18% (18%/18%/16%/11%)

$301K-$500K: 11%/8%/20%/11% (18%/21%/20%/21%)

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

$801K+: 1%/*/2%/0% (3%/2%/3%/2%)

Question 9:

q4s_q9_flstate

Q4FL (Q4NAT)

1-10%: 35% (25%)
11-20%: 9% (14%)
21-30%: 9% (11%)
31-40%: 7% (9%)
41-50%: 12% (9%)
51%+: 9% (21%)
None: 19% (11%)

Question 10:

q4s_q10_flstate

Q4FL/Q3FL/Q2FL compared to (Q4NAT/Q3NAT/Q2NAT)

Strongly disapprove: 52%/42%/26% (38%/40%/24%)

Strongly approve: 18%/22%/27% (18%/20%/26%)

Somewhat approve: 17%/21%/27% (26%/21%/31%)

Somewhat disapprove: 13%/15%/19% (18%/19%/19%)

* Data not available

See National and Regional Survey Results

Try HomeGain’s Instant Home Values tool

Florida home prices:

Jacksonville home prices

Miami home prices

Miami Beach home prices

Tampa home prices

Saint Petersburg home prices

Orlando home prices

Hialeah home prices

Fort Lauderdale home prices

Tallahassee home prices

Melbourne home prices

Cape Coral home prices

Port Saint Lucie home prices

Merritt Island home prices

Brandon home prices

Clearwater home prices

Coral Springs home prices

Kendall home prices

Lakeland home prices

Palm Bay home prices

Gainesville home prices

Sunrise home prices

Melbourne homes for sale

Melbourne real estate

View Florida homes for sale

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Find U.S. homes for sale and search U.S. real estate on homegain.com

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 : California home prices, Texas home prices, Florida home prices, New York home prices, New Jersey home prices, Illinois home prices, Georgia home prices, Arizona home prices and North Carolina home prices,Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey

Third quarter survey data is available for California home values,

Louis Cammarosano

homegain.com

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