Last week, HomeGain, the first web site to provide free online instant home valuations, released the national and regional results of our survey of 1150 former and current HomeGain members. We asked their opinions on home prices and of President Obama’s performance as President. On this blog we published the national and regional 2nd Qtr results.
This week we published the results of the California home prices, Texas home prices, Florida home prices, New York home prices, New Jersey home prices, Illinois home prices and Arizona home prices prices surveys.
Today we release the result of the Georgia home prices survey.
In the first quarter Georgia home values survey, Realtors expressed the belief that home buyers thought homes were over valued. In the current survey not much has changed with just 8% of Georgia home buyers believing that homes are fairly priced (vs.5% in the frst quater survey). According to Georgia Realtors, thirty-two percent of Georgia home buyers believe that home prices are over priced by 10-20%, the same percentage of home buyers that believed the same in the first quarter. (see question 3)
Georgia home sellers tempered their valuation expectations slightly in the second quarter with 39% believing that their homes were worth 10-20% more than their Realtors’ recommended listing prices vs. 45% who believed so in the first quarter. In the current survey only 8% of Georgia home owners believed that their homes were worth 21-30% more than their Realtors’ recommended listing prices vs. 16% who believed so in the first quarter. (see question 2)
Three months ago 42% of Georgia Realtors expected home values to decline in the next six months. In the current survey 27% of Georgia Realtors believe home prices will fall in the next six months. Twenty-seven percent of Geogia Realtors in the current survey expect home prices to increase in the next six month vs. 16% who believed so in the first quarter. (see question 6)
Fifty-eight percent of Georgia Realtors somewhat approve or strongly approve of Obama’s performance as President.
Set forth below is the Georgia home prices data with the national data in parenthesis: