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HomeGain Releases Second Quarter 2010 Home Prices Survey Results

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RISMEDIA, July 2, 2010—HomeGain, one of the first websites to provide free online instant home prices, announced the results of its 2010 second quarter home prices survey based on the responses of over 900 real estate agents and brokers and 3,500 homeowners nationwide.

Real estate professionals and homeowners continue to differ on the current values of homes and the direction of home prices. According to surveyed agents and brokers, 75% of homeowners think their homes are worth more than the recommended agent listing price. Forty-seven percent of real estate agents and brokers and 49% of homeowners think that home prices will remain the same in the coming six months.

Twenty-eight percent of homeowners think that the values of their homes will increase over the next six months vs. just 20% of agents and brokers who think the same. Thirty-three percent of agents and brokers and 23% of homeowners think that home prices will decrease over the next six months.

Sixty-one percent of surveyed agents and brokers indicated that their home buyer clients think homes for sale are overpriced.

“It is not surprising to see that homeowners are slightly more optimistic about the direction of home prices than real estate professionals and that neither group is predicting a rise in home prices over the next six months,” stated Louis Cammarosano, General Manager at HomeGain. “Real estate industry watchers tracking the direction of home prices will continue to focus on the impact of the expiration of the home buyer tax credit, the direction of interest rates and unemployment, foreclosure and shadow inventory data.”

For more information, visit www.HomeGain.com.

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