Sellers Overvalue Their Home’s Worth, Study Finds

Sellers Overvalue Their Home’s Worth, Study Finds.

About 76 percent of home owners believe their home is worth more than their agent’s recommended listing price — that’s up from 73 percent last year, according to a new survey conducted by HomeGain of real estate professionals and home owners. 

On the other hand, 68 percent of home buyers say homes are overpriced, with 32 percent saying homes are overpriced by more than 10 percent. 

“Home buyers and sellers continue to remain apart as to home valuations with the vast majority of home owners thinking their homes are worth more than their agents and the market are telling them,” Louis Cammarosano, general manager of HomeGain said in a statement.

Source: “Three Quarters of Owners Continue to Overvalue,” RISMedia (Dec. 6, 2011)

One Response

  1. This is why it is so important to talk with an agent and really look at recent comparables (within 6 months of sales) and choose homes that are like styles. Stay within your area or school district and if you are really uncertain about the value I have an appraiser do a pre listing appraisal to get a realistic market value. Doesn’t guarantee you will sell your home at that price but at least you know you didn’t over price.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: