San Diego Ghost Equity – Homeowners Reality
San Diego homes for sale
San Diego real estate: Why are many homeowners not selling? In my opinion, it’s because of ‘ghost equity!’ In 2005 their home may have sold for $700,000, but today the real market value could be $500,000. This lost $200,000 ‘ghost equity’ is something a number of homeowners cannot accept.
The San Diego homeowners do not want to face reality and accept a huge hit to their perceived equity. Even if they have positive equity in today’s market place, mentally they are resigned to staying put until their ‘ghost equity’ re-appears!
What some of the delusional homeowners may not realize is that unless their mind-set changes,and they give up the ghost, they may be living in their current home for many more years than originally expected.