Investing money in San Diego real estate is a long term investment. People with their families are not the entrepreneurs and most of them do not buy a home strictly as an investment. So when you are worried about the fact that your home is loosing equity as the market decrease in value then you need not have to worry remember that everyone else’s home is doing the same and this proves beneficial.
Confused? Let me make it very clear to you if you are selling your home now then its good because while you may be losing value in your home, you are also going to be a buyer as well. Unless you are thinking going to rent then you will be selling at a depreciated price, but on the bright side, you will be buying low as well.
Homeowners
As per my experience many homeowners seem to be very stressed out. They ask me my review about the value of homes in the area and certainly it indicates the value of their home is not what they want it to be. Homeowners immediately give-up and think the worst and some even go into “panic mode”.
I will be pointing out some positive points. Over 50 homes a day are sold on a long Island, Yes, that’s everyday. If the home values lag behind over the past four years, home values increased over 115%. This proves the fact that home values on long Island are double the national average is one great indicator that this is a prime area to own real estate. Our home is right next to the greatest city in the world and financial Mecca of the United States.
Equity
Many homeowners are twisted out of shape because they have lost 10% of equity form the value of their home. However many of them forget about the over 90% of accumulated appreciation they have had form 2002 to 2005! Now if people think of selling their home in 2005 then they are found to make a poor decision, so that’s little different. The rest of the group of the home owners who are not at all satisfied with their investment take out all their money and used their home like a personal ATM via refinancing and home equity loans.
Positive Thinking
Eventually, most of the homeowners find themselves in great positions. Even if the market is depreciated, the 115% appreciative value in the last few years must not go unrecognized. As an experience I had a meeting with a homeowner who was insisting me to let him earn $200,000 after the sell, despite of my best efforts to give him the complete knowledge of the market, highlighting high taxes, food prices, energy prices. They were suck with a $550,000 amount being appropriate price for their home as I was trying to inform them that it is more like $499000. This homeowner does not think in a positive way. He does not want to accept that he bought in 1999 for$190,000 and stand to make over 100% on the investment overall.
So when you are thinking about the market prices of your San Diego home; don’t be a negative thinker. Realize the terms that each day fifty houses get sold, your appreciation values over the past few years and you happened to have contacted the best in the business!
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