Love em or hate em Zillow can rock the housing data! Hats off to Zillow for taking a much needed leadership role and providing this information…
HREU Coaching Students, use this information when speaking with your home sellers about pricing. Your sellers need to understand the importance of pricing their homes to sell in this market. Based on this Zillow study it seems that far too many sellers are not dealing with reality in terms of pricing.This national housing mess wont come to an end until Sellers accept the fact that their homes are (in many cases) worth considerably less than their current list prices. And the longer they wait the worse their equity position will become. Agents…you must be willing to tell the Sellers the truth about their homes value.
Get this, despite all the nasty housing news that seems to occupy nearly every headline…half of U.S. Homeowners do not think their home’s value has declined over the past year.
- 32% think their home’s value increased in the past 12 months
- 17% think their home’s value held steady
- 51% think their home’s value declined
The reality being that 74% of U.S. homes lost value in the past 12 months. Check out these graphs…
Despite the national housing recession (depression in some areas, to be sure) the Zillow study shows us that a large percent of homeowners are optimistic…
- 21% believe their home’s value will increase in the coming 6 months
- 40% believe their home’s value will stay the same
- 40% believe their home’s value will decrease
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