Philadelphia Metropolitan Area Real Estate Law Blog

One possible way that Pennsylvania business owners can save money is by negotiating their commercial leases. Property owners understand that it is normal to negotiate the terms of commercial leases since there are no standard forms that are used. When the market is weaker or the property is not in a prime commercial spot, more terms may be negotiable.

Real estate investors in Pennsylvania may be interested to learn about some of the latest reports from Ten-X. The online real estate buying and selling platform regularly issues a report called the Residential Real Estate Nowcast. According to the June report, homes sales numbers are continuing their upward trend, but the pace is slowing down.

Many residential neighborhoods here in Pennsylvania and elsewhere have homeowners’ associations (HOA). The function of these associations is to enforce the covenants, conditions and restrictions that everyone who owns property within the neighborhood is given. When disputes arise regarding the restrictive covenants that cannot be resolved outside a courtroom, litigation might be necessary.

Property owners in Pennsylvania and other states typically have exclusive use of their land. However, in some instances, property owners must allow others to access their land for specific purposes, or the property owners themselves may be restricted in how they use their own land. Collectively, these rights of land use are referred to as easements.

Many investors in Pennsylvania and around the country are starting to take a closer look at the commercial and residential real estate markets. This interest is fueled partly by the persistently sluggish returns of more traditional investment vehicles like the stock and bond markets, but it is also being driven by a number of new real estate investment options that do not involve buying properties or tying up large amounts of capital for long periods.

Pennsylvania investors are likely wondering how the U.K.’s exit from the European Union will impact real estate markets in the U.S. and abroad. Some analysts believe that there will be uncertainty in the short term and that the move could potentially bring more foreign real estate capital to American shores.

Building projects in Pennsylvania and elsewhere can experience a host of problems and issues. Weather delays and problems in the supply chain can bring a construction project to a halt. While these may be out of the control of the contractor or developer, sometimes problems with the project stem from the developers and/or contractors themselves. Those responsible for building or remodeling a structure have a legal obligation to fulfill the terms of the contract and to ensure that the construction is free from defects. Otherwise, that developer or contractor may be held liable for damages through construction litigation.

First-time homeowners and those breaking into the world of real estate are often surprised to learn that they do not necessarily own every bit of the land they are purchasing. Easements allow individuals and even companies to reasonably use part of another person’s land. Initially, this might seem counterintuitive or even inconvenient, but in most cases the request for an easement is actually quite reasonable.

Pennsylvania residents are probably aware of the importance of consumer spending to the U.S. economy. There are approximately 50,000 shopping malls spread across the country to cater to the needs of American consumers, but the advent of the information age has altered the way that the nation shops. Once dominant retail chains like Blockbuster Video, Borders Books and Sharper Image have already closed their doors, and many industry experts believe that more household names will fall victim to online shopping in the near future.

Some Pennsylvania commercial real estate investors may be aware that there are predictions that prices may fall up to 5 percent in the year ahead. This was the prediction of a report released on May 20 by the Pacific Investment Management Co. The prediction comes after six years of rising prices.