Orlando Real Estate - Blog Lake Wobegon Effect - Predictably Irrational Perception of Home Values November 1st, 2008 11:53 AM Lake Wobegon Effect Extends to Our Homes When we got the results back from our third quarter Homeowner Confidence Survey, in which half of homeowners said their own homes were increasing in value or staying the same, we were surprised. According to our Q3 Real Estate Market Reports (to be released on Nov. 12), 74 percent of homes in the country have lost value over the past 12 months. Homeowners are becoming slightly more realistic about home values. Last quarter 62 percent thought their homes had either increased in value or stayed the same. Still, the fact that the gap existed after months of stock market crises and federal bailouts was fairly shocking. To help break down this phenomenon we went to an expert: Dan Ariely, professor of behavioral economics at Duke University and author of Predictably Irrational, a book about why people make irrational decisions. Dan had an interesting take on the results. “It’s the Lake Wobegon Effect, extended to homes,” he said. (The Lake Wobegon Effect is the tendency of humans to evaluate themselves as better than average). “We tend to fall in love with what we have,” Dan said. There are a number of reasons why some people still think their own homes are insulated from the woes of the housing market. Complete Story Source: Zillowblog.com by Katie Curnutte Posted by Orlando Realty Experts on November 1st, 2008 11:53 AMPost a Comment (0) * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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Swanson Orlando Real Estate Associates

We at Orlando Realty Experts are looking for quality realtors to join our growing team of experts, providing professional real estate services to our customers and clients.  Also, offering lead generation and referral partnership programs for established market leaders.

Orlando Real Estate - Service Areas

Orlando – Kissimmee Metro Service Area: Altamonte Springs, Altoona, Apopka, Astatula, Astor Belle, Astor, Belle Isle, Casselberry, Celebration, Christmas, Chuluota, Clermont, Davenport, Dr. Phillips, Eustis, Fruitland Park, Geneva, Gotha, Grand Island, Groveland, Harmony, Howey in the Hills, Kissimmee, Lady Lake, Lake Mary, Leesburg, Longwood, Maitland, Mascotte, Montverde, Mt. Dora, Mt. Plymouth, Oakland, Ocoee, Orlando, Oviedo, Paisley, Poinciana, Reunion, Sanford, Sorrento, St. Cloud, Tangerine, Tavares, The Villages, Umatilla, Windermere, Winter Garden, Winter Park & Winter Springs.

Orlando Metro Service Area - Central Florida Counties: Orange County, Seminole County, Osceola County, Polk County & Lake County.

Orlando Realty Experts: Provides services to home buyers and sellers in Orlando Florida, including FREE Orlando MLS (multiple listing service) search, Orlando new construction homes, preconstruction property, foreclosures, short sales and distressed property in Orlando FL. We are experienced real estate Orlando agents and  brokers that can represent you in the buying process as a buyers agent or help you in selling a home in Orlando. About Us - Location 

Orlando Short Sale Center: A short sale in Orlando offers homeowners a way to avoid foreclosure and help save their credit.  We have a team of licensed Orlando Realtors and loss mitigation experts who specialize in pre-foreclosures and the short sale of all types of property. 

All our agents are licensed by the State of Florida DPBR; active members of the Orlando Board of Realtors, Florida Association of Realtors and National Association of Realtors.