Home values in much of Massachusetts are 5-10% off from highs seen in the years 2002 – 2005, although some neighborhoods in Boston appear to be bucking the trend (if you are considering selling your condo in the Back Bay or South End, I’d say it is as good a time as any, actually). Regardless, it’s an uncertain time in real estate, wouldn’t you say?
Which makes the following story just a bit disturbing!
Perception does not match up with reality when it comes to home prices, according to the results of a survey of homeowners released today by real estate valuation and marketing company Zillow.
While about 62 percent of homeowners surveyed said they believe their home values have increased or held steady in the past year, the reality is that about 73 percent of U.S. homes lost value, according to an analysis of Zillow’s second-quarter real estate market reports data, due out Aug. 12 …
… About 75 percent of homeowners expect their home values to increase or remain level during the next six months, the survey also found …
Also believed: that eating six donuts a day will actually keep you from gaining weight.
Source: Owners misjudge home value trends – Zillow.com by way of Realtor.org