Yesterday HomeGain released the results of its 2012 National Home Ownership Survey. The results show that nearly 3/4 of homeowners are satisfied. However satisfaction among newer and younger home buyers are not so satisfied. HomeGain surveyed over 1400 homeowners and the entire results can be found here.

HomeGain Inducts 9 Agents Into Its Commissions Based Award Clubs

HomeGain inducts nine new real estate agent members into its elite commissions based award clubs; Total club membership reaches 1,026, each member earning at least $50,000 in commissions from HomeGain’s Agent Evaulator Program

Emeryville, CA – September 27, 2011 – HomeGain, a leading website that connects REALTORS® with home buyers and sellers, today announced that it is inducting nine new members into its commission based award clubs.

The total number of award clubs members now stands at 1,026.

“We are delighted to induct nine new members to our AgentEvaulator Awards Clubs and we salute their achievement,” stated Louis Cammarosano, General Manager at HomeGain. “Over 1,000 agents using HomeGain’s AgentEvaultor program have made at least $50,000 using the program which is solid proof of the effectiveness of the program.”

Since the second quarter of 2011, HomeGain has inducted the following real estate club members:

One new HomeGain Diamond Club member (totaling 28 members who have earned $500,000 or more in gross commissions)

Five new HomeGain Platinum Club members (totaling 393 members who have earned $125,000 or more)

One new HomeGain Gold Club member (totaling 315 members who have earned $75,000 or more)

Two new HomeGain Silver Club members (totaling 279 members who have earned $50,000 or more)

There are currently two members in the HomeGain Million Dollar Club.

AgentEvaluator® is an online marketing program for real estate agents who are looking to connect with home buyers and sellers. Real Estate Agents can sign up here.

Forty-seven percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months; Seventy-two percent disapprove of Obama’s performance as President; Rick Perry, Mitt Romney and Ron Paul lead GOP hopefuls

HomeGain, the first company to provide free instant home valuations online, announced the results of its nationwide third quarter 2011 home values survey.

Over 500 real estate agents and brokers and over 2,200 homeowners were surveyed. We also released the regional results of the third quarter 2011 HomeGain home values survey. Most real estate professionals and homeowners continue to expect home values to decrease or stay the same through the middle of the year.

Forty-seven percent of agents and brokers and 45 percent of homeowners think that home values will decrease over the next six months. In the second quarter 2011 HomeGain National Home Values Survey, fifty percent of agents and brokers and 30 percent of homeowners thought that home values would decrease over the next six months.

http://blog.homegain.com/homegain/homegain-releases-3rd-quarter-2011-national-home-values-survey-results/

HomeGain Releases 2nd Quarter 2011 National Home Values Survey Results

Posted by: Louis Cammarosano on June 17th, 2011

Fifty percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months; Sixty-five percent disapprove of Obama’s performance as President.

HomeGain, the first company to provide free instant home valuations online, announced the results of its nationwide second quarter 2011 home values survey. Over 750 real estate agents and brokers and over 2,600 homeowners were surveyed.

Most real estate professionals and homeowners continue to expect home values to decrease or stay the same through the middle of the year. Fifty percent of agents and brokers and forty-two percent of homeowners think that home values will decrease over the next six months.

In the first quarter 2011 HomeGain National Home Values Survey, thirty-nine percent of agents and brokers and 30 percent of homeowners thought that home values would decrease over the next six months.

Thirty-eight percent of real estate agents and brokers and 43 percent of homeowners think that home values will remain the same in the coming six months.

Twelve percent of real estate professionals expect home values to increase in the next six months, down five percent from last quarter. Fifteen percent of homeowners expect home values to increase in the next six months, down nine percent from last quarter.

According to surveyed agents and brokers, 77 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 67 percent of home buyers believe homes are overpriced.

“The current survey reflects that real estate professionals are resigned to accepting a market with declining prices being the norm rather than the exception. The past few years have been particularly harsh on the real estate industry and the majority of real estate professionals don’t expect much improvement in the coming six months.” said Louis Cammarosano, General Manager of HomeGain.

Forty-six percent of agents and brokers surveyed indicated that they “strongly disapproved” and 19 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 65 percent disapproval rating, tying the disapproval rating of agents and brokers surveyed in the second quarter last year. Last quarter the President had a 64 percent disapproval rating among agents and brokers.

Thirty-nine percent of homeowners “strongly disapproved” and 17 percent “somewhat disapproved” of the President’s performance, earning him a 56 percent disapproval rating. The President had a 58 percent disapproval rating last quarter among surveyed homeowners with 39 percent “strongly disapproving”. The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Second Quarter 2011 Home Values Survey indicated that the President’s average disapproval rating was 51 percent with an average of 36 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 June 2-10, 2011.

View all prior HomeGain national and state home prices surveys.

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

Set forth below are the results of the second quarter 2010 and 2011 national home prices survey as well as the results of the first quarter 2011 survey. Also set forth below for selected questions is the national home owner response data for the second 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?

Question 1:

See regional results

Commentary From Question 1 — Have home prices increased, decreased or stayed the same in the last year?

“The market is still showing some signs of decline, but inventory is moving quickly.”

“On average home prices on LBI have remained fairly consistent and have even shown some signs of rising. When a realistic buyer and seller come together a good deal can be made for both parties.”

“I think we have bottomed.”

“It is getting much easier to do my job now that things are stable. However, if inventory keeps shrinking this will create upward price pressure.”

“Even with prices stable, interest rate increases will offset any price declines.”

“The bank foreclosure backlog is keeping prices down and making buyers think prices will drop.”

“Short sales and repos are still negatively impacting the market.”

“The market here is stable. Values remain the same but in some cases, based on demand, are going up slightly and most are being affected by the number of foreclosures on the market!”

“Here in the Bluegrass, because of our business diversity and low unemployment, our housing market has held up fairly well!”

“San Francisco is unique in that we have more Condos on the market than Single family homes.  Average 1/1 sold  condo is $480k, down from a high of $560k in 2007, while single family 2/1 average is $545k, down from a high of $755 in 2007.”

“The Maryland housing market appears to be slightly on the rise. Houses actually appear to be over-priced; however, the market does appear to support the prices.” – Homeowner feedback

“I’m in a condo with 140 near-identical units.  I paid $80k in 2001.  Sale prices recently have been in the 20s and 30s.” – Homeowner feedback

“I purchased my home in 2007 for $204,000. My same model has been sold in my neighborhood for $119,000.  So disappointing.  The market is terrible.  TERRIBLE.” – Homeowner feedback

“Unbelievable. We have decreased home values and higher taxes. Why?” – Homeowner feedback

“My condo has had a decline of 42% in 5 years.” – Homeowner feedback

“Hopefully the value of my home will stop dropping because I have lost about 60 % value in 2 1/2 years.” – Homeowner feedback

Question 2:

Overall, 77% of home sellers believe their homes are worth more than their agents’ recommended selling price.

Commentary From Question 2 — On average, what do your homeowner clients believe that their home is worth?

“I feel my home value will stay the same due to the improvements I have made.  Unfortunately these should have increased the value.” – Homeowner feedback

“The government keeps encouraging us to refinance.  How can you do that if your house is worth less than you owe on it?  And how do you hire a realtor when you can’t even afford to pay off the mortgage after they take 7%?” – Homeowner feedback

See regional results

Question 3:

Overall, 67% of surveyed agents and brokers indicated that their home buyer clients think homes for sale are overpriced.

See regional results
Commentary From Question 3 — How do buyers feel that homes for sale are priced?

“St. Augustine has not suffered as the rest of the State or Country. Out-of-towners are shocked when they learn they can’t buy property 50 cents on the dollar.”

“Many buyers still believe values are dropping and make low offers. That market ended over 12 months ago. Competition for homes (excluding short sales) under $200K is fierce. DOM is down and offers that are more than 5% below the list price usually don’t stand a chance.”

“This market offers sellers an opportunity to get out of the expense of carrying these second homes that they are not using and buyers are able to enjoy buying power at all time low prices and interest rates.”

Question 4:

See regional results

Commentary From Question 4 — What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the home?

“Agents need to understand that sellers are still in control of the property listing price and can only advise their clients.”

“Buyers have little motivation because there is no fear of loss. Sellers can create urgency by presenting their home in the best possible manner (staging) and valuing pricing upfront.”

“I am in a situation where the value of my home is now lower than what I owe on it due to the above average number of foreclosures on my street and in my area.  Very disappointing as I can now afford a larger home, but cannot move.” – Homeowner feedback

“Because a neighbor listed their home approximately $25,000.00 below market for a quick sale, it effected all other homes in the area. I question this logic, since there may have been other reasons for listing this home at such a low price. None the less, the neighbors have suffered and we are waiting for the values of our homes to come back up.” – Homeowner feedback

Question 5:

Overall, nationwide, agents indicate that 91% of homes sell for less than the price they are listed at.

See regional results

Commentary From Question 5 — What is the average difference in price between what the home is listed at and what the home sells for?

“Based on April market activity, many REO properties have been receiving multiple offers and sale prices above the list price.  I believe this is the first sign of the recovery we have been waiting for.”

“When priced CORRECTLY there is less than a 5% discount but homes are often listed much too high initially.”

“Most sellers I’ve encountered try to sell and when they can’t get the price they want, they just decide to stay put.”

“Sellers want to get as much as possible for their homes while today’s buyer wants to spend as little as possible. I do believe we have finally hit the middle ground and are seeing the market make a turn for the better.”

“Your home owns you, you do not own your home.” – Homeowner feedback

Question 6:

Overall, the majority of agents and brokers think home prices will decrease in the next six months.

See regional results

Commentary From Question 6 — In the next six months, will the values of homes in your market increase, decrease or stay the same?

“Until our government helps to improve the housing market, (adding jobs for example) home values will continue to decline.”

“I think we may be at the bottom or will be by the end of 2011. Hopefully.”

“There is no consistent price stabilization yet. Home prices are still very dependent on location, location, location.”

“I see prices decreasing and many more multiple offers.”

“Home values will continue to decline for at least the next 12 months, maybe more.”

“With the exception of few local markets, prices will drop nationally in 2011.”

“The Houston, TX Metro area  has a strong and diverse job market. Our home market is STRONG.  Appreciation is a steady 2-5% yearly even with foreclosures & short sales a big part in the market.”

“In most parts of this country it will take four to five years to recover.”

“I think we are going to see a double dip in the real state market and unless the job situation is improved and consumer confidence is back we will see  no improvement in home sales.”

“I’m hoping home values will stay the same in the next 6 months, but I really don’t know that they will. It’s scary.” – Homeowner feedback

“I expect that home prices will continue to decline. However, they will stay close to today’s prices. – Homeowner feedback

“With unemployment on the rise, the housing industry will no doubt continue to be on the decline.” – Homeowner feedback

“The price of homes will continue to decrease until the flow of foreclosures cease. President Barack Obama inherited an unimaginable task of reigniting a country buried in debt, recession and unemployment. He should receive applause from the bulk of Americans and Corporate America who benefited from his administrations decisions and legislation.” – Homeowner feedback

“Home values will not improve until: 1) banks approve more short sales  2) banks put REO’s on the market  3) Congress stops trying to regulate everything.” – Homeowner feedback

“Current residential housing values will not significantly increase in the next year due to availability of foreclosed, financial institutional owned empty housing that will be slowly induced into the housing sales markets.” – Homeowner feedback

“Things should start to improve after the 2012 elections.” – Homeowner feedback

“I think home prices have stabilized and the value of homes will increase in the future.” – Homeowner feedback

Question 7:

See regional results

Agent Commentary From Question 7 — What percent of homes for sale in your area are foreclosures?

“Based on all current listings on the MLS at the time of this survey, I was quite surprised to learn that out of 156 active listings, only two were foreclosures. The downtown market is still as hot as ever!”

“Why are lenders so difficult to work with?  Why do lenders reject a short sale and later the home is an REO?”

“Unfortunately, our situation has come to pass because of one reason; greed. This has brought down other civilizations in the past and it will bring us down if we don’t change the way we think and act.”

“I am selling more houses that are not foreclosures or short sales. Sales have been strong and their is a slow down of foreclosures.”

“Until the foreclosures slow considerably, we won’t see a housing market recovery.  The foreclosure sales are continuing to bring home values down.”

“I have a FICO score of 750 but a strategic default on my mortgage is starting to look like the most logical financial solution.”" – Homeowner feedback

Question 8:

See regional results

Question 9:

See regional results

Agent Commentary From Question 9 — In the past three months, what percentage of your clients were first-time buyers?

“In the Columbus, Ohio market, values are still struggling due to the short sales and foreclosures. Great interest rates are still attracting the First Time Buyers who are getting some amazing deals on homes.”

“The Saint Louis MO market is alive and well. While the number of transactions is down, there remains 80% or so of the regular number of buyers buying homes. But people still need houses!”

“Lending has become extremely conservative, no programs for 1st time buyers and sellers are losing alot of their equity in this market, if they can even sell, as most sellers are upside down.”

“Buyers listen to CNN and other network news, they hear these numbers, and they think it must be so locally, and nothing can be further than the truth.”

“Reform might be great, but this cumbersome journey to be accepted for a loan is more than many first time buyers can handle.” – Marilou Strickland, Lamprey River Real Estate

“I see 6 years of pent up demand, the only thing holding it off is the current govenment and banks too afraid of lending.”

Question 10:

Overall, 65% of surveyed real estate agents and brokers disapprove of President Obama’s performance.

See regional results

Commentary From Question 10 — How do you think Barack Obama is performing in his role as President?

“Obama needs to wake up and start funding loans to higher wage earners. He’s treating well to do buyers are if they are FHA buyers, and FHA buyers as if they are well to do.”

“Obama came into office at the climax of what was almost the apocalypse of the United States –  financial, foreign military involvement, and domestic policy issues. It is unrealistic to think that ANY president could have us recover in less than 3 years.”

“Any time a president does not realize that to bring the economy back means jobs must be created is failing in all categories.  He is the worst president in history.”

“Unemployment is the piece of the puzzle that continues to hold our country back. The current administration MUST focus on the #1 problem. Without jobs, the real estate market will continue to flounder, no way around it.”

“Obama inherited this mess from the banks and Wall Street!”

“The next election needs a major overhaul with real estate market as big ticket item.”

“I think considering the mess that Obama got and the lies and accounting scams by the banks that are still happening, he is doing well. Banks need to process short sales in 2 months.”

“The bank bailouts were a major failure. Money would have been better spent reducing the loans that were owed and renegotiating them so that owners could have stayed in their homes. It would not have depressed the overall market so dramatically.”

“He didn’t start the down prices,  Bush did!”

“I’m very disappointed that the banks got bailed out but very few homeowners were helped.  I’m also disappointed that none of those who engineered the financial crisis have been prosecuted.”

“Barack Obama needs to VETO the QRM proposal as it will further stifle the US Housing Market!”

“The pendulum has swung too far the other way. Congress is trying to make it impossible to qualify for a loan with over-regulation. We need private investors buying mortgage debt so markets can stabilize.”

“Home prices dropping is not Obama’s fault, it is because the job market overall. The nation’s deficit. We must reduce the budget by, first, decreasing the defense spending by 25%. Those stupid government officials in Washington may not do that. If you do not have money, you have to give up the idea of being a world policeman. Because, USA is not qualified economically.” – Homeowner feedback

“To blame President Obama for the financial chaos we are experiencing is ludicrous.  We are all responsible for our greed.” – Homeowner feedback

“The present economy speaks for itself. The recovery is not in the interest of the leadership of the Obama administration.This will influence my future vote.” – Homeowner feedback

“The GOP is trying to balance the budget on the backs of the working class and senior citizens while giving breaks to big business and corporate executives.  The working class is mad.” – Homeowner feedback

“The housing mess was created by greedy bankers, realtors and investors. Obama has nothing to do with it.  Banking dept. should of been more vigilant.” – Homeowner feedback

“I strongly believe that the Obama Stimulus plan would work if the banks cooperate.” – Homeowner feedback

“Obama has destroyed this country as he tries to move it to a Muslim country.” – Homeowner feedback

“Politicians suffer from the delusion that they can control the economy.  They can do things to screw it up but can rarely do anything to make it suddenly get better.” – Homeowner feedback

“If I were blaming presidents for the home value crash, I’d point my finger at George W. Bush. However I really blame de-regulators, and the financial industry for the international speculation on mortgages. Why are none of them in jail?” – Homeowner feedback

“Not Obama’s fault Bush got our country the way it is, as well as greedy banks and people who bought homes that they couldn’t afford.” – Homeowner feedback

“I know Obama bashing is all the rage, esp. among small businesses, but, remember, BUSH (who I voted for both times):

A. Got us into both Afghanistan AND Iraq, accounting for a big chunk of the Federal debt

B. Initiated the first huge spending bill to keep the banking system going before Obama took office.

Just because the bill has come due on Obama’s watch doesn’t make it all his fault.” – Homeowner feedback

“If Obama is re-elected, more people will be losing their homes and the economy will have a chance to tank all the way.” – Homeowner feedback

“Much of our problems stem from Congress more than one man.The President can do very little on his own if Congress does not fund it.  Congress did not do its job under George Bush.  We cannot continue to borrow and spend and keep increasing the debt.  We must find a way to live within our means.  We cannot afford to do everything for everybody.  We must set priorities and make choices.” – Homeowner feedback

##

*Regions are divided as follows:

• Northeast: Maine, New Hampshire, Massachusetts, Vermont, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware, Maryland and West Virginia
• Southeast: Virginia, South Carolina, North Carolina, Georgia, Florida, Alabama, Mississippi and Tennessee
• Mid-West: Ohio, Indiana, Illinois, Michigan, Wisconsin, Minnesota, Iowa, North Dakota, South Dakota, Nebraska, Wyoming, Colorado, New Mexico, Texas, Oklahoma, Kansas, Louisiana, Arkansas and Missouri
• West: Alaska, Hawaii, California, Washington, Oregon, Nevada, Arizona, Utah, Idaho and Montana

HomeGain Releases 1st Quarter 2011 National Home Values Survey Results

 Posted by: Louis Cammarosano on March 16th, 2011

Thirty-nine percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months; Sixty-four percent disapprove of Obama’s performance as President.

HomeGain, the first company to provide free instant home valuations online, announced the results of its nationwide first quarter 2011 home values survey. Over 750 real estate agents and brokers and over 1,600 homeowners were surveyed.

Most real estate professionals and homeowners continue to expect home values to decrease or stay the same through the middle of the year. Thirty-nine percent of agents and brokers and thirty percent of homeowners think that home values will decrease over the next six months.

In the fourth quarter 2010 HomeGain National Home Values Survey, forty-six percent of agents and brokers and 30 percent of homeowners thought that home values would decrease over the next six months.

Forty-four percent of real estate agents and brokers and 46 percent of homeowners think that home values will remain the same in the coming six months.

Seventeen percent of real estate professionals expect home values to increase in the next six months, up from 12 percent last quarter. Twenty-four percent of homeowners expect home values to increase in the next six months, up from 22 percent last quarter.

According to surveyed agents and brokers, 76 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 69 percent of home buyers believe homes are overpriced.

"Optimism regarding the direction of home prices among real estate professionals remains muted and relatively unchanged from last quarter. Home buyers and sellers continue to disagree on what homes are worth with buyers expecting lower prices and sellers continuing to believe their homes are worth more than their agents and brokers are telling them," said Louis Cammarosano, General Manager of HomeGain.

Forty-nine percent of agents and brokers surveyed indicated that they “strongly disapproved” and 19 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 68 percent disapproval rating versus the 67 percent disapproval rating of agents and brokers surveyed in the fourth quarter last year. Last quarter the President had a 67 percent disapproval rating among agents and brokers.

Forty-three percent of agents and brokers surveyed indicated that they “strongly disapproved” and 21 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 64 percent disapproval rating versus the 58 percent disapproval rating of agents and brokers surveyed in the first quarter last year. Last quarter the President had a 68 percent disapproval rating among agents and brokers.

Thirty-nine percent of homeowners “strongly disapproved” and 19 percent “somewhat disapproved” of the President’s performance, earning him a 58 percent disapproval rating. The President had a 60 percent disapproval rating last quarter among surveyed homeowners with 42 percent “strongly disapproving”. The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain First Quarter 2011 Home Values Survey indicated that the President’s average disapproval rating was 52 percent with an average of 39 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 March 1-8, 2011.

View all prior HomeGain national and state home prices surveys.

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

Set forth below are the results of the first quarter 2010 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 first 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?

Question 1:

See regional results

Commentary From Question 1 — Have home prices increased, decreased or stayed the same in the last year?

“Our local market is showing signs that it’s starting to stabilize. Our hope is the increasing interest rates don’t start us back down.”

“”Psychology says that things are always bleakest at the bottom and we believe we are at the bottom of the real estate cycle.  Improvement will require looser lending and lower credit card interest rates.”

“In some areas of the Orange county market it seems as prices are stabilizing even appreciating, while in other areas we continue to see a weak market with home prices continuing to depreciate.”

“This market seems to have stagnated.  Home prices are staying the same, no increase or decrease.”

“Our home was appraised at $360,000+ in 2005, so we put it up for sale in 2010 for $325,000. In 5 really short months it has gone down to $275,000, and we still have no takers.” – Homeowner in Washington (state)

“My beautiful home is now worth significantly less than what it cost me to build it back in 1999. My neighborhood has changed in so many ways over the course of that time. Poor lending practices have destroyed many nice neighborhoods in this country and now there is no way out for people like me that take good care of their homes and regard their home as a lifetime investment.  Going back to 20% down to buy will restore investment in home-ownership. Zero down means nothing to lose.  When one is invested, it makes all the difference and our neighborhoods thrive.” – Homeowner in Florida

Question 2:

Overall, 78% of home sellers believe their homes are worth more than their agents’ recommended selling price.

See regional results

Question 3:

Overall, 68% of surveyed agents and brokers indicated that their home buyer clients think homes for sale are overpriced.

See regional results
Commentary From Question 3 — How do buyers feel that homes for sale are priced?

“Conflicting messages continue to confuse buyers & sellers.  Too much focus remains on buyers obtaining the absolute bottom line price, without regards for the unintended consequences for neighboring homes.”

“Your new home will be your castle so don’t expect to pay only for a dog house.”

Question 4:

See regional results

Commentary From Question 4 — What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the home?

“Only about 50 percent of my listings have actually sold because many sellers refuse to take my advice on pricing.  Then they move on to another agent, and another agent.  -Pam Primiani, Keller Williams Realty, Cherry Hill NJ

Question 5:

Overall, nationwide, agents indicate that 84% of homes sell for less than the price they are listed at.

See regional results

Question 6:

Overall, the majority of agents and brokers think home prices will stay the same in the next six months.

See regional results

Commentary From Question 6 — In the next six months, will the values of homes in your market increase, decrease or stay the same?

“I think the economy is stabilizing, and people are slowly coming back to the real estate market. People are still looking for bargains however, and when the prices start to move up, I think things will start to move quickly.”

“It is believed that home prices will decline slightly in the coming months. Buyers are advised to strongly consider purchasing now to take advantage of the lowest ever mortgage rates.” - Randall Wiggins, NuView Realty, Inc.

“Home prices will continue to climb despite media declarations to the contrary.  Buying a home will cost more to those who wait.” – John Accornero, Prudential California, Realty

“I’ve had a few buyers question me about the proposed elimination of the Mortgage Interest Tax Credit. Those buyers feel prices will fall drastically.” - Richard Daskam, Keller Williams Realty

“We are influenced heavily by the nearby military base.  We lost a squadron and until another is brought in our market will probably experience more of a decline in prices.”

“The banks in my area are selling their homes at distressed prices which is causing home prices to drop and buyers to think homes are over valued.”

“We have seen an increase in sales and showings in the past month and a half.  Signs are looking up for a busy Spring season.”

“Prices are definitely stabilizing although certain market sectors have yet to find the bottom. Yet in other market sectors, properties price well are seeing multiple offers.”

“I believe that the market will drop again after this spring market.”

“We have put a lot of time, effort and money into our home over the past year and I believe this has aided in the value of our home. However it is far from where it would be based on what we paid for it seven years ago.” – Homeowner in Michigan

“I believe home prices will remain at or near flat for the next 6 months in the New York City region.  Unemployment is a key factor in the recovery of home prices.” – Homeowner in New York

“Home prices will stay stable until QE2 expires.” – Homeowner in Illinois

Question 7:

See regional results

Agent Commentary From Question 7 — What percent of homes for sale in your area are foreclosures?

“Need to stop foreclosures and get people jobs.”

“Our market is still being controlled by bank foreclosures and short sales.” - Cel Durant, Davis & Davis Associates

“Major banks are predicting this year will top last year for foreclosures. This will also contribute to a decrease in overall property value.” - Rosemarie Rivicci, Appleseed Homes

“There are a huge number of foreclosures coming on our market now, with even more to come over the spring & summer.” – Homeowner in Tennessee

Question 8:

See regional results

Question 9:

See regional results

Agent Commentary From Question 9 — In the past three months, what percentage of your clients were first-time buyers?

“First Time Homebuyers need to get back into the home buying process and increasing their closing costs and costs to buy are not helping – FHA buyers with good credit and time on the job were not the problem, stop fixing something that was not broken.”

“I am disappointed with the difficulty 1st time buyers are having getting a loan.  Ever changing rules and requirements make it very frustrating for agents and their clients.” – Carol Wilson, RE/MAX Select, REALTORS

“Lending has become extremely conservative, no programs for 1st time buyers and sellers are losing alot of their equity in this market, if they can even sell, as most sellers are upside down.”

“Buyers listen to CNN and other network news, they hear these numbers, and they think it must be so locally, and nothing can be further than the truth.”

“Reform might be great, but this cumbersome journey to be accepted for a loan is more than many first time buyers can handle.” –  Marilou Strickland, Lamprey River Real Estate

“I see 6 years of pent up demand, the only thing holding it off is the current govenment and banks too afraid of lending.”

Question 10:

Overall, 64% of surveyed real estate agents and brokers disapprove of President Obama’s performance.

Forty-three percent of agents and brokers surveyed indicated that they “strongly disapproved” and 21 percent “somewhat disapproved” of Barack Obama’s performance as President earning him a 64 percent disapproval rating vs. the 68 percent disapproval rating of agents and brokers surveyed in the fourth quarter of 2010. In the first quarter 2010 HomeGain survey, the President had a 58% disapproval rating from agents and brokers.

Thirty-nine percent of home owners “strongly disapproved” and 19 percent “somewhat disapproved” of the President’s performance earning the President a 58 percent disapproval rating. The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain survey indicated that President’s disapproval rating was 52 percent with an average of thirty-nine percent “strongly disapproving” of the President’s performance.

See regional results

Commentary From Question 10 — How do you think Barack Obama is performing in his role as President?

“Total mishandling of the real estate meltdown.  Assistance was needed by people and for less money could have given needy an exit and cover some losses to banks to offset their pain.”

“He is doing the best with what he was left with!”

“Obama has continued to create uncertainty in the market. Hamp and Hafa have not gotten the results we need to stabilize the Real Estate market. His new proposals for decreasing equity positions is doomsday for the market.” - Mike Costanza

“I believe Obama is a Muslim set on destroying this country and if he is not a Muslim, he is the product of our very flawed education system.” – Jerry Wood, RE/MAX Northwest, Inc.

“Obama didn’t make this mess, but he’s still in the pocket of Wall Street.”

“Obama inherited all of this and is busting his butt to try to fix it.  It will take time since the system has been so screwed up for years.”

“Mr. Obama has no financial or management experience whatsoever. He is relying on his Socialist friends for the wrong direction of the country.”

“Government attempts to solve the housing crisis are about 30% effective in my opinion. The big banks and politicians are too cozy. They’re the only ones that made out on the tarp funds debacle.”

“Obama is NOT a businessman, has no clue how to run a business. Does anyone in their right mind think that spending more than one makes works? Let a businessman run for President. Enough already!” – Karen Brooks, San Juan Realty

“We need a strong leader to stop this overspending and get our fiscal house in order.” - Bethanne Baer, Keller Williams

“The powers in Washington need to hear from those of us with ‘boots on the ground’ and that included NAR representatives. In the field we see the end product of the decisions made by the Big Banks & Government.”

“Economy was bad before President Obama became President, but bail outs for banks, car dealerships, etc. have not helped anyone.”

“From a real estate perspective, this president bought a giant fixer upper” and needs time and resources to make it beautiful again.”

“The president can not do but so much. The president before him, did most of the damage. So, you all want the president to fix things in a jiffy. It does not work like that.” – Homeowner in Georgia

“Although I do not agree with the President’s approach in many areas, home values are decreasing due to the irresponsibility and overall greed of the banking system.  They allowed people to purchase homes who could not afford them and when these people defaulted, we all suffered.  These financial ‘wizards’ should face jail time for what they did to the people who mistakenly believed they could afford their houses down the road. If it isn’t illegal, it is ceratinly immoral to treat people this way, not to mention the backlash on the rest of us.”

“One man cannot singlehandedly right the wrongs resulting from the overwhelming greed of the already wealthy individuals who get a free ride at the expense of us so-called middle class. We are rapidly descending to lower class despite all of our efforts to simply keep afloat.” – Homeowner in Arizona

“I believe the president and congress have done what they had to do to keep the economy from cratering, but I am deeply concerned about looming inflation.” – Homeowner in Oklahoma

“I  feel that this  ’Market Correction’ has a long way to go yet . The big corporations have got their fingers in the cash register even after the masive bail-out. They created this problem by telling the ” credit hungry ” people that they had much more equity than they really had and let’s be honest, THEY SHOULD BE HELD ACCOUNTABLE along with all of the government departments involved in monitoring or in anyway involved in the housing system in this country . Of course this was also snowballed around the world where greed got first place over HELPING people succeed in their search for their dreams of home ownership . THIS will come around and HAUNT the thieves eventually. Bernie Madhoff  can tell you that.” – Homeowner in Oregon

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*Regions are divided as follows:

• Northeast: Maine, New Hampshire, Massachusetts, Vermont, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware, Maryland and West Virginia
• Southeast: Virginia, South Carolina, North Carolina, Georgia, Florida, Alabama, Mississippi and Tennessee
• Mid-West: Ohio, Indiana, Illinois, Michigan, Wisconsin, Minnesota, Iowa, North Dakota, South Dakota, Nebraska, Wyoming, Colorado, New Mexico, Texas, Oklahoma, Kansas, Louisiana, Arkansas and Missouri
• West: Alaska, Hawaii, California, Washington, Oregon, Nevada, Arizona, Utah, Idaho and Montana

HomeGain Inducts 15 New Members Into Commissions Based Awards Clubs

Today HomeGain announced that it is inducting 15 AgentEvaluator®  club members into its commissions based award clubs.

HomeGain is inducting:http://activerain.com/action/blogs_admin/write

• 5 new HomeGain Platinum Club members (totaling 382 agent members who have earned $125k or more in gross real estate commissions from HomeGain leads)
• 3 new HomeGain Gold Club members (totaling 307 agent members who have earned $75k or more)
• 7 new HomeGain Silver Club members (totaling 273 agent members who have earned $50k or more)

“We are excited to add an additional 15 HomeGain members to our commissions based award clubs,” stated Louis Cammarosano, General Manager at HomeGain. “HomeGain is proud to help home buyers and sellers consistently find quality real estate agents to assist them with their real estate needs.”

HomeGain has 26 agent members in its Diamond Club (who have earned more than $500k in gross commissions) and two members in its Million Dollar Club (who have earned more than $1,000,000 in gross commissions).

HomeGain AgentEvaluator Award Club members have earned over $100 million dollars worth of real estate commissions since 1999 when HomeGain was founded. Award Club membership has grown to 983 HomeGain members.

HomeGain Survey Finds Home Sellers Fare 50% Better in Getting Their Homes Sold Using a REALTOR® Than Selling On Their Own

Posted by: Louis Cammarosano on February 23rd, 2011

HomeGain’s For Sale By Owner (FSBO) vs. REALTOR® survey reveals home sellers’ success rates and satisfaction. Home sellers have greater success and higher satisfaction with the home sale process using a REALTOR® than going FSBO.

HomeGain surveyed over 1,000 homeowners asking whether they used a REALTOR® to sell their home or whether they attempted to sell it themselves. Eighty-three percent said they used a REALTOR® to sell their home and 17 percent said they tried to sell their home on their own.

Fifty-nine percent of home owners that used a REALTOR® to sell their home were successful vs. 39 percent of FSBO’s, reflecting a 50 percent higher closing rate for those home sellers using a REALTOR®.

Eighty-one percent of homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR® again for their real estate needs.

Eighty-eight percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again.

Seventy-one percent of FSBOs who managed to sell their homes on their own said they would try and sell their home on their own again.

“It is especially striking that homeowners fare significantly better in selling their homes using a REALTOR® than selling on their own.” said Louis Cammarosano, General Manager of HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own.”

Twenty-four percent of FSBOs eventually enlisted the aid of a REALTOR® to help sell their homes.

The survey was conducted from February 7-15, 2011.

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?