Mike Adams-Internet Real Estate Marketing Pro

You’d have to be living under a rock to not know the housing market is in distress and home values are dropping…. right?

Apparently not – at least when it comes to our own homes. Today Zillow released our Q2 Homeowner Confidence Survey — asking more than 1,300 U.S. homeowners their perception of their own home’s current value, as well as what they think will happen with their home and local market in the coming 6 months. The results were eye-opening, to say the least…

62% of U.S. Homeowners believe their home’s value has increased or stayed the same in the past year. In reality, 77% of U.S. homes have declined in value over the past 12 months.
People living in the West seem to be a little more realistic, with 44% believing their home’s value has increased (28%) or stayed the same (16%); however more homes in the West have lost value, with 88% of Western homes declining over the past year.

http://www.zillowblog.com/every-houses-value-is-dropping-except-mine/2008/08/?s_cid=emm-2007093BuzzQ2ReportRePro-blog

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