Many home owners think their home is worth a lot more than it really is, according to HomeGain’s third quarter 2012 National Home Values Survey Results of 300 real estate agents.
Seventy-seven percent of sellers say their home is worth more than their real estate agents’ recommended selling price.
Some home owners are overestimating the value of their home by up to 20 percent. Nearly 40 percent of real estate agents surveyed say that home owners believe their home is 10 to 20 percent higher than it really is, with another 40 percent reporting overestimates of 1 to 9 percent. Only about six percent of home owners underestimate the value of their home, believing it to be worth less.