According to a new survey, many homeowners are still out of touch with the changing housing market.
Almost half of home owners think their homes should be priced 10-20 percent higher than their sales agents have recommended, according to a nationwide survey by California based HomeGain.
No wonder fewer than 20 percent of agents nationwide are reporting that home buyers are telling them that homes on the market are priced fairly.
Almost 60 percent of agents say potential buyers are telling them that home asking prices are too high, HomeGain found.
“Our survey shows that the market and Realtors are telling home owners their homes are worth considerably less than the homeowners think they are,” HomeGain General Manager Louis Cammarosano said in the report.
More than half of the real estate agents surveyed predicted that home prioc4es will fall further during the next six months. Only 11 percent expected them to rise.
Also, most real estate agents – about 60 percent of those surveyed – said the latest government economic stimulus programs will not help home prices. Just 4 percent were optimistic that the programs would cause prices to rise.
About 1 in every 5 agents said home foreclosures account for more than 30 percent of sales in their market.
The survey included more than 700 real estate agents across the nation but did not breakout information for individual cities.
