Commercial Real Estate May Experience Future Gains In California
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporation posted in Commercial Real Estate on Wednesday, August 7, 2013.
Although real estate took a tremendous hit during the recent recession, there have been signs of a significant recovery in many parts of the country. California seems to be one of the parts of the nation which may be experiencing growth in the commercial real estate sector. A recently released report addressing the state's real estate market is exceptionally optimistic about the future.
The report, which is published twice per year, is used to assist in predicting rates for rentals of commercial real estate as well as vacancy rates. The researchers surveyed a panel of real estate professionals in California. For the next three years, the panel predicted growth in the non-residential real estate market. However, they believe the market will begin to slow back down after around 2016.
Therefore those looking to invest in real estate may want to consider making a purchase soon before the market becomes too high. Also, those who were thinking about selling may want to wait in order to obtain a higher price. However, individuals may wish to consult a financial professional before making any big decisions.
Those who do decide to make a commercial real estate transaction might be best served to make sure they are aware of all the legal implications in California. When drafting the documents necessary to complete the transaction, it is typically a good idea to pay close attention to the language. This could make a difference in making sure that the documents are legally enforceable. Even a small mistake could make a significant difference at a later time.
Source: Los Angeles Times, "Steady gains predicted for California commercial real estate market," Cale Ottens, July 10, 2013