In this 2nd quarter press call, moderated by Peter McCullough, we heard from Realtors from across the country discuss the results of HomeGain’s second quarter REALTOR survey on home prices.

Do Realtors feel that we’ve hit the bottom? How have home values changed in the last few months? Do they think Obama’s plans are bringing the market back to life?

Listen to the brief call on HomeGain Radio to find out!:

Highlights: Continue reading this post

The past few days the news has been filled with stories about how home prices dropped in January.

“S.F, US  home prices in free fall“  reads one headline.

“Twin Cities Home Prices Suffer 20% Plunge” proclaims another.

“Home Prices Down 14% year over year” announces yet another.

Talk about ‘yesterday’s’ news!

In January George Bush was President and it was snowing in many parts of the country.

Thousands of homes have been sold since January and Obama’s Stimulus Plan has been passed.

I understand that it takes time to compile data, but January’s home values are not very relevant to today’s market.

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Earlier this month, HomeGain released the results of a nationwide survey of nearly 700 HomeGain current and former Realtor members. The survey asked their opinions on home prices and the impact of the Obama stimulus package.  On this real estate blog we published the national and regional results.

The HomeGain member home values survey received national coverage and the results were noted in US News, Dallas Morning News, Boston Globe, Crane’s Investment News, Sellsius, Dallas Magazine, Orange County Register, RIS Media, Philadelphia Daily News, the Sarasota Herald Tribune, AOL’s Wallet Pop, St. Petersburg Times, Boston Real Estate Blog, Real Trends, Realtor Magazine, Inman News,Transparent Real Estate , Agent Genius and other blogs.

Today we are releasing the Georgia home prices survey data. In the past few weeks we published the New York, Texas, California ,Illinois and Florida data.

The Georgia Realtor home prices survey indicates that only 5% of home buyers think that homes are fairly priced vs. 18% of home buyers nationally. Thirty two percent of Georgia home buyers think that homes are overpriced by 10-20%, the same as the national average.

Conversely, 45% of Georgia home sellers, as do home sellers nationwide, believe that Realtors under valued their homes by 10-20%.

Set forth below is the Georgia home prices data with the national data in parenthesis:

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According to reports in the Wall Street Journal and the Miami Herald first time home buyers are accounting for a large portion of the recent boost in existing home sales. The reports cite lower home prices and the provision in the Obama stimulus plan that gives first time home buyers an $8,000 credit.

Indeed, on a conference call following HomeGain’s release of its survey of Realtors on Home Values, HomeGain member Jeffrey Bastress of Starpoint Realty in Massachusettes cited that he had recently received numerous offers from first time home buyers citing the $8,000 credit as a reason for their interest in purchasing a home.

Andrew Duncan of Keller Williams of Tampa also cited the new tax incentives, lower home prices and great interest rates as driving new home buyers to make their first purchases.

Could it be however, the reason that first time home buyers are making up a good portion of existing home sales is that they haven’t been burned yet?

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HomeGain®, the first website to provide free instant home values, today announced the state results of a nationwide survey of current and former HomeGain Realtor® members’ opinions on the Obama stimulus plan.

Last week HomeGain released the results of a nationwide survey of nearly 700 current and former HomeGain members. The survey asked their opinions on home values and the impact of the Obama stimulus package. On this blog we published the national and regional results.

We also released survey data from Texas, California ,Illinois , Florida , New York and Georgia.

The HomeGain member survey received national coverage and the results were noted in USA Today, Dallas Morning News,Boston Globe, Crane’s Investment News, Sellsius, Dallas Magazine, Orange County Register, RIS Media, Philadelphia Daily News, St. Petersburg Times, the Boston Real Estate Blog, Real Trends, Realtor Magazine, Inman News, Transparent Real Estate, Agent Genius and other blogs.

Today we released the state survey results on Realtors’ opinions on the Obama stimulus plan.

Nationally 45% of our surveyed Realtors thought Obama’s stimulus plan would have no impact on home values. 38% thought it would stabilize home prices, 13% thought it would decrease home prices and just four percent thought it would increase home values.

The HomeGain survey was conducted the week of February 23. A Rassmussen telephone poll conducted the same week showed that 34% of U.S. voters thought the plan would help the economy while 32% thought it would hurt. Twenty eight percent of US voters participating in the Rasmuessen poll thought the plan would have little impact on the economy.

Set forth below are the HomeGain survey results by state of the Realtors’ opinion of the Obama stimulus plan:

Continue reading this post

Earlier this week HomeGain released the results of a nationwide survey of nearly 700 current and former HomeGain members. The survey asked their opinions on home prices and the impact of the Obama stimulus package. On this real estate blog we published the national and regional results.