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HomeGain Releases 3rd Quarter 2010 Florida Home Prices Survey Results

Fifty-six percent of Florida real estate professionals think home prices will decline over the next six months; 78% of Florida agents and brokers disapprove of Obama’s performance as President.

Last week, HomeGain, the first company to provide free online instant home valuationsreleased 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.

Yesterday we released the 3rd quarter California home prices survey data and today we released the results of the 3rd quarter 2010 Texas home values survey. In the coming days we will be releasing home values survey data from Florida, Illinois, New York, New Jersey, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.

Today we are releasing the 2nd quarter 2010 Florida home prices survey data.florida-crocodile-sign

The survey shows that 46% of home buyers in the Sunshine state believe that home prices are either fairly priced or just 1-10% over priced vs. 55% who thought so in the 2nd quarter 2010 Florida home prices survey vs. 46% who thought so in the first quarter 2010 Florida home prices survey and fourth quarter 2009 Florida home prices survey and 42% who thought so in the third quarter 2009 Florida home prices survey.

In the current survey 21% of home buyers thought home prices were fairly valued vs. 22% in the second and first quarters of 2010, vs. 23% in the fourth quarter of 2009, vs. 24% who so believed in the third quarter of 2010, vs. 18% who so believed in the second quarter Florida home prices survey and vs. 15% who so believed in the first quarter 2009 Florida home prices survey. (See question 3)

Fifty-six percent of of Florida real estate professionals surveyed in the second quarter believe that home prices in their state will decrease in the next six months vs. 41% who so believed in the second quarter of 2010 and 46% who so believed in the third quarter of 2009. Forty percent of Florida homeowners believe that home prices will decrease in the next six months and 15% think they will increase. Just 9% of Florida agents and brokers think home prices will increase in the next six months (see question 6)

Support for President Obama was low with 78% of surveyed agents and brokers disapproving of his performance (63% “strongly disapproving”) . In the second quarter 79% of Florida agents and brokers disapproved of the President’s performance with 62% “strongly disapproving”. In the first quarter of 2010 Obama’s disapproval rating among agents and brokers was 66% with 56% “strongly disapproving” vs. 65% disapproving in the fourth quarter of 2009, vs. a disapproval rating of 57% in the third quarter of 2009 and 45% in the second quarter of 2009.

The Presidents fared slightly better among surveyed Florida homeowners. Sixty-four percent of Florida homeowners disapproved of the President’s performance with 49%  “strongly disapproving” vs. 63% disapproving (46% “strongly disapproving”) in the second quarter of 2010. (see question 10)

Set forth below is the third quarter 2010 real estate professional and home owner Florida home prices 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) :

  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 think Barack Obama is performing in his role as President?

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Posted by: Louis Cammarosano on September 26th, 2010 under Home Prices, Home Values, HomeGain, HomeGain Market Data, Polls, Regional

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