The real estate market has had an ominous cloud looming for a long
while with sunshine trying to break through. Now, according to a
recently released second quarter survey by HomeGain, optimism is growing
and a sunnier forecast is anticipated by some.
The survey results are taken from a pool of more than 400 agents and
brokers and 1,700 homeowners. Perhaps not surprisingly the optimism is a
bit unequal. Regarding the general direction of home values, about 48
percent of industry professionals expect home values to increase
compared to only 27 percent of homeowners. However both percentage
figures are up from first quarter 2012.
The outlook for the next two years? The forecast, according to
the belief of those surveyed, gets even better. Real estate
professionals (82 percent) and homeowners (59 percent), both believe
home values will increase in the next couple of years. However, a small
percentage group, 6 percent of real estate professionals and 15 percent
of homeowners, think the exact opposite.
Meanwhile, 14 percent of industry professionals are warning to
prepare for yet another decrease in home values. The percentage shoots
up to 24 percent of homeowners who agree with this prediction.
Forecasting no change: 38 percent of real estate professionals
and 49 percent of homeowners expect home values to remain the same over
the next six months.
In a press statement, Louis Cammarosano, General Manager of
HomeGain said, “Optimism among real estate professionals spiked in the
second quarter. Real estate professionals are optimistic about home
prices in the short term and especially optimistic in the coming two
years with 82 percent of real estate professionals and 59 percent of
homeowners expecting
prices to rise.”
But where are these anticipated increases in home values
expected? The survey results show expected increases are scattered
throughout the country. Here are the lists of the top 10 states where
home values are expected to increase in the next six months, according
to real estate professionals and homeowners.
Real estate professionals expect increases in home values in the
next six months: Virginia, Arizona, Colorado, California, Texas,
Florida, Massachusetts, Ohio, New York, and Georgia.
Homeowners expect increases in home values in the next six months
in: Arizona, Colorado, Oregon, Texas, Pennsylvania, Virginia, Maryland,
Washington, Florida, North Carolina.
As for declining home values in the next six months, real estate
professionals expect the following top 10 states to get hit hardest in
this order: Pennsylvania, Ohio, New York, Georgia, Maryland, Florida,
Colorado, Virginia, Texas, and California.
Homeowners think the top 10 states to experience a decline in
home values in the next six months will look like this: Illinois, North
Carolina, California, Oregon, Georgia, New Jersey, New York, Maryland,
Pennsylvania, and Florida.
Breaking down the information. If you're planning to sell your
home, be sure to showcase your home's features. As buyer confidence
builds in the real estate market, it's important as a seller to think
like a potential buyer would. See your home from a buyer's perspective.
Before you put your home on the market make it as "buyer-focused" as
possible which means the following things should be implemented:
de-cluttering, maintenance repair, home staging, and curb appeal. The
more you make your home "buyer-focused" the greater the chances of a
faster and higher priced sale. For more information read my column "
Buyers Want Move-In Ready Homes. "
http://realtytimes.com/rtpages/20120706_optimism.htm
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