A recent nationwide survey conducted by HomeGain showed that 3 out of 4 home owners believe that their homes are worth more than what their agents recommend. See: Three Quarters of Owners Continue to Overvalue.
The same survey showed that 68 percent of home buyers believe that home owners overprice their properties – with 32 percent responding that the homes are over priced by more than ten percent.
Sellers: overly optimistic or unrealistic?
[…] A recent nationwide survey conducted by HomeGain showed that 3 out of 4 home owners believe that their homes are worth more than what their agents recommend. See: Three Quarters of Owners Continue to Overvalue. The same survey showed that … Continue reading → […]
Stan
Sellers have an overinflated opinion of the value of their house??
Wow, what an insight.
downtownjunkie
Speaking of overinflated prices, I always liked the Montreaux cottages (the construction was top notch) and had asked a couple years what everyone thought about them. The associations and taxes alone rival the payment in some cases. Up until recently, the PSF has been hanging in at a whopping $267/sf. But a nice one just closed at $158PSF!!! How about them comps for current owners! There is a bank-owned 3BR that has been sitting on the market – now priced at $214/PSF.
I have a feeling, unless AB 284 provides a decent temporary artificial floor, that we might start to witness a good amount of carnage in Montreaux.
Hey Mike, can you do some research on 6085 Lake Geneva if you have some time?