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Zillow poll shows homeowner optimism

Views of past, future home-price trends diverge

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Most homeowners think their home has lost value in the last year, but four out of five don't expect their property to be worth less six months from now -- the most optimism consumers have expressed about the future in a year of polls conducted by home valuation and listing site Zillow.Looking back, Zillow's Homeowner Confidence Survey suggests many are unrealistic about their own property's immunity to the housing downturn. Only about 60 percent of homeowners surveyed from April through June believed their properties had lost value in the last 12 months, while Zillow estimated that 83 percent of homes were worth less.Although price depreciation slowed in many markets during the second quarter, Zillow Chief Economist Stan Humphries said market fundamentals that could continue to weigh on home prices include high for-sale inventory levels, foreclosures, negative equity, and price-to-rent ratios that remain above historical levels.Nearly one in three homeowners (29 percent) said they wou...