HomeGain Releases First Quarter 2012 Home Values Survey Results

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Thirty-seven percent of real estate professionals expect home values to increase, up from 15 percent last quarter; sixty-four percent disapprove of Obama's performance as President; Mitt Romney edges out Barack Obama

Real estate professionals have grown more optimistic regarding the direction of home prices, especially in the states that have been hardest hit in the past few years.

HomeGain®, the first website to provide free online instant home values, today announced the results of its nationwide first quarter 2012 home values survey. Over 400 real estate agents and brokers and over 1,700 homeowners were surveyed.

Real estate professionals have become more optimistic about the direction of home values than homeowners. Thirty-seven percent of real estate professionals expect home values to increase, up from 15 percent last quarter. Twenty-five percent of homeowners expect home values to increase, up from 15 percent last quarter.

Twenty-two percent of real estate professionals expect home values to decrease in the next six months, down from 42 percent last quarter. Twenty-nine percent of homeowners expect home values to decrease in the next six months, down from 37 percent last quarter.

Forty-one percent of real estate professionals and 46 percent of homeowners believe home values will stay the same in the next six months.

According to surveyed real estate professionals, seventy-seven percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, sixty-two percent of home buyers believe homes are overpriced.

“Real estate professionals have grown more optimistic regarding the direction of home prices, especially in the states that have been hardest hit in the past few years, like Arizona, Nevada and Florida and also in states that have done comparatively well, like Massachusetts and Virginia,” said Louis Cammarosano, General Manager of HomeGain.

Fifty-two percent of agents and brokers surveyed indicated that they “strongly disapproved” and 14 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 66 percent disapproval rating, an increase of two percent in the disapproval rating of agents and brokers surveyed in the first quarter of 2011. In the fourth quarter of 2011, the President had a 70 percent disapproval rating among agents and brokers.

Forty-one percent of homeowners “strongly disapproved” and 15 percent “somewhat disapproved” of the President’s performance, earning him a 56 percent disapproval rating. The President had a 60 percent disapproval rating last quarter among surveyed homeowners with 44 percent “strongly disapproving.” The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain First Quarter 2012 Home Values Survey indicated that the President’s average disapproval rating was 52 percent with an average of 42 percent “strongly disapproving” of his performance.

When asked which Presidential nominee they would vote for if the election were held today, real estate professionals once again favored Mitt Romney, who received 35 percent of the votes. Barack Obama received 32 percent of the votes. Homeowners were asked the same question and sided with Barack Obama, who received 42 percent of the votes. Mitt Romney came in second with 26 percent of the votes.

The survey was conducted from March 6 – March 15, 2012. For complete survey results, including regional breakdown, visit the HomeGain Real Estate Blog.

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Louis Cammarosano
HomeGain
510-594-4121
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