Texas Homeowners Getting Real At Last: 73% Now Accept Realtors’ Values (+/- 10%)
The Lone Star State marches to it’s own beat when it comes to home price perception and Presidential approval ratings. Texas Realtors are not President Obama’s biggest fans. Only 28% of Texas Realtors approve of the job he is doing, while 60% strongly disapprove. Nationally, 42% of Realtors approved of the President and his policies.
Texas agents in the first quarter were not nearly as pessimistic about home values as were their colleagues in other states. Quarter 2, Texas Realtors still called our market stable and improving. But come quarter 3, some sort of gloomy reality must have set in. Texas Realtors have reduced their valuation expectations and the effect is rubbing off on homeowners. 73% of Texas homeowners now believe their home is worth what their agent says it is, give or take ten percent higher or lower.
Don’t think agents are not taking that into pricing consideration.
But here’s the cheery note: 43% of Texas Realtors think home values or prices in Texas will increase over the next few months. That’s almost double the 24% who thought prices would increase last quarter. Hang on, we just may be skidding into the finish line here, I hope.
BTW: This survey is from HomeGain.
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I had a long time V. Cook realtor comment on an unsold nice home on my street (Briarmeadow Dr.)recently. The home currently listed at $349k original list at $515k a year plus ago should now be reduced to $299k to move. Could I have 50 mg of Propofol with that?
Our experience is realtors think the neighborhood they specialize in has higher value than reality. They tend to over price the house to ’show their value’.