Archive for August 6th, 2008

SEATTLE, Aug. 6 /PRNewswire/ — Despite widely covered housing woes and
significant market data to the contrary, homeowners reveal high confidence
in the value of their own home with even greater optimism for the next six
months, according to the Zillow(R) Q2 Homeowner Confidence Survey(1) of
1,361 U.S homeowners conducted by Harris Interactive(R). Highlights of the
survey are below.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)

“Not My House!” Sentiment Showcases Wide Homeowner Perception-Reality
Gap Nearly two out of three (62%) homeowners think their home value has
increased or remained the same in the past year. Unfortunately, the reality
of the market is not quite as bright; in fact, it’s getting worse.
Seventy-seven percent of U.S. homes lost value in the past 12 months,
according to preliminary analysis of Zillow’s Q2 Real Estate Market
Reports, due to be released August 12, while only 19 percent increased and
5 percent remained the same. Whether it’s apathy, confusion or just plain
denial, homeowners seem to believe the housing crisis affects every other
home but “not my house,” underscoring a wide gap between homeowners’
inflated perception of their home values and the gloomy market reality.

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