Posts Tagged ‘ real estate market ’

Real Estate 360 Live With Louis Cammarosano 2/27/12

On Monday February 27, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:27)

Louis and Ryan discuss the $5 billion suit against the banks for wrongfully foreclosing on homeowners. Louis notes a moral hazzard is created when companies and individuals are bailed out. Louis notes that when you keep interest rates artificially low borrowers have no incentive to pay off debt earlier and no incentive to save. Low interest rates urge consumption and borrowing. Louis notes that rising gas prices have little to do with speculators or problems in the Middle East but rather the decline in the value of the dollar.

Louis notes that in 1964 a gallon of gas cost $.30. In 1964 a US quarter was 90% silver. Today a 1964 quarter is worth $6.43 (MORE than the price of a gallon of gas-at today’s price of about $4.25 a gallon) a 1964 US dime is worth $2.50, so the  price of gas has gone up less vs the dollar than silver. Ryan notes that Warren Buffet is a stock expert but not necessarily an expert in real estate.

Louis notes that its probable that the local Realtor knows far more about real estate than Warren Buffet. Louis notes that many people believe that Warren Buffet’s views on taxes are somehow more valid because he has made a lot of money in stocks. Louis notes that sadly, the people equate wealth with intelligence.

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Posted by: Louis Cammarosano on March 12th, 2012 under Louis Cammarosano on Real Estate Radio

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HomeGain Releases 4th Quarter 2011 National Home Values Survey Results

Forty-three percent of surveyed real estate professionals nationwide expect home values to stay the same over the next six months; Seventy percent disapprove of Obama’s performance as President; Mitt Romney edges out Barack Obama

HomeGain, one of the first companies to provide free instant home valuations online, announced the results of its nationwide fourth quarter 2011 home values survey. Over 400 real estate agents and brokers and over 2,000 homeowners were surveyed. We also released the regional results of the fourth quarter 2011 HomeGain home values survey.

Most real estate professionals and homeowners continue to expect home values to stay the same or decrease through the end of the year. Forty-three percent of agents and brokers and 48 percent of homeowners think that home values will stay the same over the next six months.

Forty-two percent of real estate agents and brokers and 37 percent of homeowners think that home values will decrease in the coming six months.

Fifteen percent of real estate professionals expect home values to increase in the next six months, up four percent from last quarter. Fifteen percent of homeowners also expect home values to increase in the next six months, up three percent from last quarter.

In the third quarter 2011 HomeGain National Home Values Survey, forty-seven percent of agents and brokers and 45 percent of homeowners thought that home values would decrease over the next six months.

According to surveyed agents and brokers, 76 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 68 percent of home buyers believe homes are overpriced.

“Homeowners and real estate professionals appear to be in sync regarding the direction of home prices. Home buyers and sellers, however, continue to remain apart as to home valuations with the vast majority of homeowners thinking their homes are worth more than their agents and the market are telling them,” said Louis Cammarosano, General Manager of HomeGain.

Fifty-two percent of agents and brokers surveyed indicated that they “strongly disapproved” and 18 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 70 percent disapproval rating, an increase of one percent in the disapproval rating of agents and brokers surveyed in the fourth quarter last year. Last quarter the President had a 72 percent disapproval rating among agents and brokers.

Forty-four percent of homeowners “strongly disapproved” and 16 percent “somewhat disapproved” of the President’s performance, earning him a 60 percent disapproval rating. The President had a 63 percent disapproval rating last quarter among surveyed homeowners with 47 percent “strongly disapproving”. The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Fourth Quarter 2011 Home Values Survey indicated that the President’s average disapproval rating was 52 percent with an average of 40 percent “strongly disapproving” of his performance.

Below are the top states where real estate professionals and home owners think home prices will rise and fall over the next six months.

Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Up in the Next Six Months:


Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Down In the Next Six Months:


Top 10 States Where Real Estate Agents and Homeowners Approve of Barack Obama’s Performance as President:


Top 10 States Where Real Estate Agents and Homeowners Disapprove of Barack Obama’s Performance as President:


The survey was conducted from November 9 – November 20, 2011.

View all prior HomeGain national and state home prices surveys.

The fourth quarter 2011 regional results are available by clicking here.

Set forth below are the results of the third quarter 2011 and 2011 national home prices survey as well as the results of the fourth quarter 2010 survey. Also set forth below for selected questions is the national home owner response data for the fourth quarter of 2011. Click on each question to see complete results:

Questions and National 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?
  11. If the Presidential election were held today, who would you vote for?

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Posted by: Louis Cammarosano on December 3rd, 2011 under Home Prices, Home Values, Home Values Surveys, HomeGain, HomeGain Market Data, HomeGain Surveys

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HomeGain Releases 4th Quarter 2011 Regional Home Values Survey Results

Below are the regional results of the entire survey, categorized into four regions*, Northeast, Southeast, Mid-West and West. You can also check out the national results of the HomeGain 4th quarter 2011 home values survey. Questions and Regional 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?
  11. If the Presidential election were held today, who would you vote for?

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Posted by: Louis Cammarosano on December 3rd, 2011 under Home Prices, Home Values, Home Values Surveys, HomeGain, HomeGain Market Data, HomeGain Surveys

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Real Estate Radio With Louis Cammarosano 9/26/11

On Monday September 26, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:26)

Ryan and Louis discuss the impact that a winning sports team has on a city. Louis and Ryan discuss the Fed’s Operation Twist announced earlier in the week designed to keep long term interest rates low. Ryan notes that he doesn’t think it will do much good due to tighter lending standards. Louis notes that Operation Twist did not increase the Fed’s  balance sheet and comments that the net effect is to kick the can down the road and to make the road longer. Louis notes that the Fed’s maneuver protects itself against raises in short term interest rate. Louis notes its generally good for real estate as it drives the long term interest down but if credit is difficult it will be difficult to take advantage of. Louis noted that Operation Twist will make it easier for homeowners to refinance which isn’t necessarily good for the banks. Louis notes that the Fed’s action was not positive for the markets as more quantitative easing was expected. Louis notes that stimulus and interest rates are not the answer as we have had plenty of that in the past few years to little or no salubrious effect. Ryan notes that the expensive real estate market is robust while the less expensive real estate market is still doing poorly. Ryan notes that the DC metro housing market is doing well due to the decent jobs market and the relatively low level of foreclosures. Ryan and Louis discuss the pros and cons of purchasing a new home vs. an existing home. Louis and Ryan discuss the pros and cons of purchasing a short sale vs. a new home. Louis notes that the new home market is more important to the economy than the existing homes market and that each new home built creates three new jobs.

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Posted by: Louis Cammarosano on October 9th, 2011 under Louis Cammarosano on Real Estate Radio

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Consumers Want Consultants, not Cheerleaders – Position Yourself as a Market Expert

Today’s real estate market is different than just a few short years ago. Before the downturn, seller’s knew they could sell and buyers didn’t worry about risk in real estate because everyone believed prices would always go up. If Buyer A didn’t want the house, you need not wait long before Buyer B submitted an offer. When the market began the turn as demand shrank and prices began falling, many agents made, what I think was a big mistake – they acted like cheerleaders. Instead of offering professional advice to a growing number of upside down homeowners in a confusing market, it seemed as though agents across the country were using their marketing materials to look out for a paycheck more than trying to help consumers

You may remember ‘Baghdad Bob’ from the Iraq War days holding press conferences where he would tell everyone how the Iraqi Army was destroying the infidel Americans and pushing them back to the sea. You could also almost hear the American tanks rolling by in the background as he was on TV. He wasn’t telling the truth. Everyone new he wasn’t telling the truth. Jay Leno had a great video of Baghdad Bob if you don’t remember.

Even in today’s real estate market, it’s still common to see agents say “It’s a great time to buy!” That has to be the worst possible thing we can say in this market. It’s so transparent – and it appears to be looking out for the agent and not the consumer to market with this message. Don’t be a real estate Baghdad Bob. The market may not be great for many potential buyers. If a consumer asks about the market or you are trying to convince someone that this is a great time do buy, you have missed the mark. Consumers want and need information more now than ever. They seek out agents who can distill information in a way they can understand and they want the truth. They also can sniff out Baghdad Bob the real estate agent a mile away. The truth is, it may not be a great time to buy. Maybe it is, may it isn’t. Don’t you think you should find out a little more before spouting off like that? Be real.

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Posted by: Ryan Ward on March 11th, 2011 under Best Practices

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Owe vs. Rent?

With the economy uncertain, but interest rates low and foreclosures still making up a large percentage of available inventory, what do real estate professionals think about homeownership for their clients?

What do potential homeowners think?

Is homeownership still the best investment?

Are home prices going up or down?

Louis Cammarosano

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Posted by: Louis Cammarosano on February 12th, 2011 under Home Prices, Home Values

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