This is from Marketwatch.com
More than half of homeowners recently surveyed by Zillow.com believe their home lost value in 2008, a sign that Americans may be getting more realistic about what their homes are currently worth.
Fifty-seven percent of the 1,573 homeowners who participated in the survey in January said that their home lost value during the year, compared with 38% who said their home value was declining in the second quarter of 2008.
In reality, 76% percent of U.S. homes lost value last year, according to Zillow.
"It's clear that the 'not my house' sentiment that was so prevalent in earlier surveys is waning, and homeowners are opening their eyes to the unfortunate reality of significant losses in home values across most of the country," said Stan Humphries, Zillow's vice president of data and analytics for Zillow, in a news release.
Still, many think that the worst may be over. More than two-thirds believe their home's value will increase or stay the same in the first half of this year, according to the survey.
"There's a curious optimism for homeowners when asked about the future -- most seem to believe we've hit a bottom and the worst has passed. Unfortunately, the data tells another story. With year-over-year home value losses continuing to accelerate, most areas of the country will see housing values get worse before they begin to stabilize," Humphries said.
Get more real estate news in this week's pages, including an audio report on why job losses will accelerate foreclosures this year. Also read the latest ideas floating around Washington on how to save homeowners from foreclosure.
It has taken awhile for Americans to accept that their homes are decreasing in value. But according to the Zillow survey, many still see the glass half full for 2009 -- at least when it comes to the value of their own home.
-- Amy Hoak , Real Estate writer
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