HomeGain: Texas Realtors Getting More Optimistic About Everything Except President Obama

Texas Realtors are getting more optimistic. According to one of my favorite sources, HomeGain, three quarters of Texas real estate professionals and homeowners expect home prices (in Texas) to rise or stay the same in the coming six months. That’s pretty good news and the most positive they’ve been in awhile.

HomeGain’s second quarter 2011 nationwide home values survey of more than 750 HomeGain current and former members — Realtors —  and more than 2600 home owners, sought opinions on home prices. They also asked Realtors what they thought of President Obama’s performance as President.

That news may not be so hot.

The realities of the market are finally sinking in with sellers. In a nutshell, 53% of agents say clients’ home values have declined over the last year — slightly more homeowners, 56%,  than Realtors, 53%, seem to realize this.

Most homeowners still think their homes are worth more than they are. Almost half of the agents in Texas, 44%, say homeowners think their homes are worth 10 to 20% more than they actually are.

Don’t expect whopping appreciation. In the next six months, 47% of Texas Realtors think home prices will stay the same — 28% believe prices will increase, 25% say they will decrease, so almost an even split.

And don’t ask Texas Realtors to rate President Obama’s job in steadying the housing market: 46% strongly dissapprove of how he has served as President thus far, this after we got Bin Laden. But that’s a higher opinion of both the market and our fearless leader than what the nation’s Realtors believe. Fifty percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months, and 65% percent disapprove of Obama’s performance as President.

Nationally, most real estate professionals and homeowners continue to expect home values to decrease or stay the same through the middle of the year. Fifty percent of agents and brokers and 42% of homeowners think that home values will decrease over the next six months.

“The current survey reflects that real estate professionals are resigned to accepting a market with declining prices being the norm rather than the exception. The past few years have been particularly harsh on the real estate industry and the majority of real estate professionals don’t expect much improvement in the coming six months.” said Louis Cammarosano, General Manager of HomeGain.