Tectone Real Estate

Real estate investment is perhaps one of the most lucrative forms of investment today. But it is also equally risk bound especially when one is not well versed with the trends and nuances of the real estate market. So if you are contemplating on investing in real estate, it is best to avoid costly mistakes in real estate investment especially when you invest your hard earned money into it. Knowing the most common mistakes made by real estate investors helps one steer away from making such mistakes in the future and ensures good return on investment.

Here are the top ten mistakes made by real estate investors, according to bankrate.com. Bankrate has put together the top ten mistakes after speaking to established, full-time real estate investors and other professionals involved in real estate investment such as bankers. Read on to know them and avoid them.

1. Not planning up ahead. Lack of a proper plan is the biggest mistake made by novice investors. Finding a house after forming a proper investment strategy is the right way instead of looking for a house to fit the plan. Many make the mistake of buying a house because it seems to be a good deal and then trying to see how they can fit it into their plan. Instead of buying a house and thinking one can plan in due course, investors should rather concentrate on the numbers and try to make offers on multiple properties. This will ensure a good property that not only matches their investment model but also works out well with the numbers they had planned for.

2. To believe you can make money quickly. The second major mistake that real estate investors make is to think it is very easy to get rich in real estate. This is only a myth and the reality is that investing in real estate is a long term project.

3. Doing it single-handedly. For becoming a successful real estate investor one needs to build a team of professionals who would assist the investor in his deals. This would ideally include a real estate agent, an appraiser, a home inspector, a closing attorney and a lender.

4. Making excess payment. One another reason that investors in real estate goof up in their investment is by paying too much for the properties they buy. Paying too much and locking up all the funds in the erred property deal will leave you with no money to redeem yourself.

5. Leaving out the groundwork. Not doing your homework could be a costly mistake if you were a real estate investor. Every field of business needs sufficient amount of homework to be done, and real estate investment is no exception. Learn the fundamentals and then venture into investing in properties.

6. Throwing caution to the winds. Investors have to exercise a certain degree of caution and take earnest efforts while making a deal. New investors often fail in this regard and sign a deal without doing adequate research on the property.

7. Miscalculating money flow. Investors whose strategy is to buy, hold and rent out properties need to ensure sufficient cash flow for maintenance. Property managers could be expensive and the owner has to incur more expenses such as mortgage, taxes, insurance, advertising costs etc. Investors have to allocate their budget such that all these expenses are taken care of, or end up having their asset turn into a liability.

8. Lowering the volume. A larger volume of deals or transactions helps in increasing the profits by reducing the impacts of marginal deals.

9. Getting trapped in your own deal. Having more number of options at hand for the property you buy is a wise strategy. This helps one to be prepared for fluctuations in the real estate market. Plans to rent out the house could go awry when the rental market slumps. Having alternative plans helps you cut down losses and tackle unexpected situations.

10. Making incorrect estimates. People who plan to rehab their house need to check if they will still reap the benefits at double the time that they had estimated. This ensures they do not miscalculate and lose money on the deal.

Tags: Buying A House, Investment Strategy, Real Estate Investor, Real Estate Investors, Successful Real Estate

When buying or selling a home in Arizona, it may be a good idea to do some research before selecting a Real Estate professional. There are several Realtors and Real Estate firms to choose from. How do you know which one to choose? Which firm will represent your best interests?

Coldwell Banker Residential Brokerage in Scottsdale, Arizona is extremely aggressive when talking about putting your needs first, and making sure your best interests are represented. There is always two sides to a Real Estate purchase contract. There is usually a buyer, and a seller. It is rare when one firm represents both sides, but is absolutely legal as long as both parties agree and sign documents allowing one firm to represent both sides. Depending on which side you are on will determine the course of action a firm will take with you.

Scottsdale, Arizona Coldwell Banker Residential Brokerage help people buy and sell homes all over the state in cities such as Scottsdale, Phoenix, Paradise Valley, Mesa, Chandler, Gilbert, Cave Creek, Peoria, Coolidge, Queen Creek, Avondale, Buckeye, Tempe, Surprise, Glendale, Anthem, Casa Grande, Apache Junction, and all the metropolitan area cities just to name a few. When purchasing a home, just let your Realtor know which city, which zip code, which school district, or which neighborhood you want to live in. Real Estate agents are unable to steer you in a certain direction, so it is important that you have a good starting point for your Real Estate professional.

When purchasing a home, tell your Realtor what is important to you. Let them know what amenities are important to you and they should be able to help you find what you are looking for. A Realtor will do a search on the things you tell them. Real Estate agents can search available homes by price, city, zip code, square footage, year built, type of roof, size of the lot, school district, and style just to name a few.

Once you have found a home in your price range, your Realtor should represent you through the purchase contract. They should make sure that everyone one involved in the purchase contract are on the same page. Your first step when purchasing a home is to get pre-qualified for a loan. If you have a lender that you work with, that lender will be able to tell you how much you are qualified for, and what your price range is by analyzing your finances. This process usually only takes a few hours. If you do not know of any lenders your Realtor should have a good recommendation.

When selling your home, a good Realtor will come to your home, take pictures of the home for marketing purposes, and get all the paper work filled out and signed. Once all the paper work is filled out and signed, the home should be on the market within a few hours. Good Real Estate firms will market your home effectively by putting your home on the MLS, in newspapers, in magazines, send out mailers to the neighbors, put a sign in the yard with info tubes, and hold open houses just to name a few.

With Scottsdale, Arizona Coldwell Banker Residential Brokerage, your home is featured on several national and local websites. So many people are moving to Arizona so it is extremely important to attack the out of state markets. The more exposure your home gets, the more chance it has of selling. When discussing home selling in Arizona, with the current market conditions, it is extremely important to price your home correctly. If you owe more than your home is worth, it may not be a good time to sell.

Real Estate markets are cyclical. What goes up may come down. Unfortunately, no guarantees can ever be made by a Real Estate agent. However, a good Realtor will answer all of your questions, have all of the paper work ready for you, and represent you in an ethical manner. A good agent will hold your hand through the entire process. For those home owners with lots of experience buying and selling property, they usually know the drill. Scottsdale, Arizona Coldwell Banker Residential Brokerage may be a good choice when seeking representation in Arizona. We can schedule a free, no obligation consultation on any of your Arizona Real Estate needs or questions. Please visit the website below to get in touch with a qualified, aggressive, honest Real Estate agent.

Tags: Banker Residential Brokerage, Paradise Valley, Queen Creek, Square Footage

In today’s market, home sellers need to bring out as much ammunition as possible in order to attract buyers. One of the first steps in drawing interest to your home is to create a clear, enticing and positive online listing of your home. As much as words can be used effectively to describe selling features, nothing can compare to the impact of quality photographic images. Digital cameras and photo software like photoshop, make it easy for homeowners to take their own listing photos. If want to present a successful image gallery for your home, here are some important tips to keep in mind:

Take more than one!

Your listing should contain more than one photograph. Ideally, there should be several photographs, all of superior color and in the correct format. Posting only one image, or only outdoor/only indoor images can easily come across as if you are hiding something distasteful. Prospective buyers want to have a clear visual picture of your property and are more likely to book a viewing if they’ve seen a good visual representation of your entire home through an internet listing. Make sure to include whatever rooms inside your home offer distinctive features or appeal. Your agent will probably have a limit on how many photos you can submit, so maximize potential by using your full limit and include only the best photos of the best rooms, views, and outdoor spaces as well. Take note that you’ll want a great photo of the front exterior of your home, as this may be the image that is used repeatedly as a sort of cover shot. This will be the image that initially draws people to look further into your listing.

Set them up!

You will need to do a little home staging to prep your rooms before taking the photos. Remove everything from the room that distracts from your purpose of making the home look attractive. Avoid including things like door frames and chair backs in images. Remove extra furniture and add only striking decorative items that accentuate the selling features of your home. Keep an eye out for things that can be removed to improve the photo. Clean lines and an uncluttered room will make for an appealing photos. A strong photograph will focus on the building’s/room’s architecture, design and space.

Don’t aim too high!

Don’t aim your camera too high when taking photos. Viewers are not going to be interested in shots of the ceiling. If you have a ceiling/wall feature that you want to capture such as a high, coved or vaulted feature, you may need to use a camera with a wide lens. Aim to include a suggestion or taste of that feature, while still including the scope of the room at roughly eye level. Remember, it’s important to capture the entire room. Viewers want to be able to perceive rooms as if they were just walking through your house. Clear, accurate visual information is what you want to offer in your photographs.

Color your world!

Once you’ve taken a whack of photos, you can then look at them on your computer and use a photo editing software package to adjust the color on your images. Play around, with different levels of color and contrast. Light and bright, is what you’re aiming for.

Make them fit!

Keep in mind that most websites are designed to work best with horizontal (landscape mode) images. A mixture of horizontal and vertical formatted images can be distracting and confusing.

Tags: Digital Cameras, Distinctive Features, Quality Photographic Images, S Market