The 2011 HomeGain Home Values Survey Q3 (the first company to provide free immediate home valuations) reports the following on home value expectations (and this survey was based on more than 500 real estate agents and brokers and 2,200 homeowners):

• 47 percent of agents/brokers think that home values will decline in the coming six months (down from 50 percent in the Q2 survey)
• 45 percent of homeowners think that home vales will decline in the coming six months (up from 30 percent in Q2 surveys)
• 42 percent of agents/brokers and 43 percent of homeowners will remain the same in the coming six months
• 11 percent of the agents brokers (12 percent in Q2) expect home value to rise in the coming six months
• 12 percent of homeowners (15 percent in Q2) anticipate values to rise in the coming six months
• Homeowners and agents/brokers do not concur where values are going up and down
• Agents/Brokers report that 75 percent of homeowners believe their homes are worth more than the recommended listing price
• 68 percent of homeowners believe homes are overpriced
• Both agents/brokers and homeowners now share the view that prices will decline

Top Five States Where Respondent Thinks Home Prices Will Go Up in the Coming Six Months

Agents/Brokers Response (Where the Agent Lives)
Rank   State  
1               Arizona
2               Florida
3               Texas
4               California
5               Ohio

Homeowners Response (Where the Homeowner Lives)
Rank   State  
1       Virginia
2       Massachusetts
3       South Carolina
4       Tennessee
5       Washington

Top Five States Where Respondent Thinks Home Prices Will Go Down in the Coming Six Months

Agents/Brokers Response (Where the Agent Lives)
Rank   State  
1        New Jersey
2       Pennsylvania
3       North Carolina
4       Georgia
5       Virginia

Homeowners Response (Where the Homeowner Lives)
Rank   State  
1   Arizona
1       Georgia
2       Indiana
3       Nevada
4       Ohio

 

Tags: Home value