‘Till this day, our seasoned estate managers continue to come across misconceptions in real estate. A lot of these misconceptions are preconditioned beliefs that society or members of the real estate industry have wrongly instilled in the minds of property owners. Whether it is property for sale in Oakland or Timbuctoo; the fundamentals of property ownership remain the same. Black Diamond wants to dismiss these myths and bring our clients back into the driver’s seat where they can more efficiently supervise and control their property. Furthermore, this clarity will allow you, the property owner, to break free from this false paradigm and get back in touch with the true reality of real estate. The first fallacy is the focus on location. Many of our clients invest in properties based on the present location and its surrounding circumstances. However, the most important aspect of a location is the future of the location itself. What policies and/or reconstructions will take place 10-20 years from when you purchase it? It is about looking forward and not obsessing over the moment. We always suggest that prospects investigate the local economy, politics and social climate to forecast the value of property later down the line. This holds precedence over its current situation which is why the focus on strictly the property’s whereabouts is a false concept. The second myth is the idea that buyers should purchase the worst house in the best community. However, we can tell you from experience that people shopping for homes overlook these “eye sores” and pursue its surrounding counterparts. Therefore, this myth should be avoided at all costs! Another concept that we often come across is the owner’s desire to remodel the kitchen thinking that it will boost the property’s value. We’ve found that these renovations produce the smallest return on investments. Subtle upgrades to the bathroom are much more effective. We also recommend that our clients list their homes in March, where demand is at its highest, rather than in the beginning of the year. The myth of advertising as early as possible is negating the fact that the sooner you post, the farther you are from the top listed property making your advertisement close to non-existent. So in this case, the early birds do not get the worm but rather it is the strategic timing of ad placement that makes all the difference. We love to advise our clients with information that they deserve to know. We understand that knowledge is power and with the support of Black Diamond Property Management; the application of this knowledge makes our clients unstoppable. We are a property management firm in Oakland and handle a vast array of real estate activities for the Bay Area and surrounding regions. We hope that you succeed in your real estate endeavors and look forward to assisting you in this process. Source: SF Business Times