Early last week, HomeGain released the national and regional results of a survey of more than 1150 current and former HomeGain members. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On the HomeGain real estate blog we published the national and regional 2nd Qtr results.
Earlier 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, Georgia home prices, Arizona home prices and North Carolina home prices surveys.
Today we are releasing the Virginia home prices survey data.
According to the recent survey, Virginia home buyers do not believe home prices in their state are that unreasonable. Twenty-two percent of Virginia home buyers believe homes are fairly priced vs. 6% who believed the same according to the first quarter Virginia home values survey. Fourteen percent of Virginia home buyers believe that homes are underpriced by 10-20%. (see question 3).
Homeowners in Virginia continue to believe in large percentages that their homes are worth more than their Realtors’ are telling them with 46% of Virginia home sellers thinking that their homes are worth 10-20% higher than their Realtors’ recommended listing price. Eleven percent of Viginia home owners believe their homes are worth 21-30% higher than their Realtors recommend they list them for vs. 6% who believed the same in the first quarter. (see question 2).
In the first quarter Virginia home vaues survey, just 6% of Virginia Realtors believed that prices would increase in the next six months. In the current survey 24% of Virginia Realtors believe that home prices will increase in the next six months and 35% believe they will stay the same (see question 6).
Fifty-four percent of Virginia Realtors approve of Obama’s performance as president vs. 57% of Reatlors nationwide.
Set forth below is the Virginia home prices survey data with the national data in parenthesis: Continue reading this post