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January 5, 2012

Survey: Md. homeowners split on where values will go in 6 months

Forty-three percent of Maryland homeowners surveyed by a real estate search site think home values will drop in the next six months, about the same as the number who believe values will remain the same -- which leaves 15 percent who think (hope?) that values will rise.

That's according to HomeGain, which surveys homeowners and real estate agents every quarter to see what they think.

Maryland agents were less optimistic, with 53 percent predicting value drops in the next six months.

HomeGain said it surveyed 2,000 homeowners and more than 400 people in the real estate biz nationwide, so the Maryland sample was considerably smaller than that.

So: What's your prediction?

Answer order is randomized, in case you're wondering.

Regardless of what you think will happen, what are you hoping to see? Some of you, I know, are rooting for prices to fall and thus be more affordable. Others are hoping prices will rise to the point that their mortgages aren't underwater.

Posted by Jamie Smith Hopkins at 6:00 AM | | Comments (3)
Categories: Survey says ...
        

Comments

The flow of foreclosures continues to depress the market. It will not improve until they subside to normal levels.

This should be an interesting year, since the slowdowns that came with the robo-signing revelations appeared to be coming to an end in late 2011.

The banks and the gubmint have worked great together in managing housing inventory. Banks have been able to release foreclosures at a slower pace. They will continue to do so. In fact, I think many will be surprised once these properties begin to be rented out instead of held on the books to be sold later. The buying season is coming right around the corner. The Fed will also most likely unleash QE3. It's expected an additional 600-800 billion in MBS purchases is in the works. For that reason, I think home prices will be about flat and may even see a slight increase. Mortgage rates will most likely go to 3.0% or lower on a 30 year fixed. The only question will be what happens after the summer when it ends?

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About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
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