Many Philadelphia residents are aware of common types of real estate litigation that relate to the buying and selling of property and the contracts and covenants involved. Eminent domain actions are a very different type of real estate litigation however, and one that home and property owners should understand if they want to protect their property interests.
Commercial real estate is booming near Philadelphia
Commercial real estate is big business. Whether focusing on property acquisition, development or commercial leases, the potential for financial reward and return on investment is significant. However, in order to ensure that a potential deal converts into a successful investment, buyers, developers and sellers need to have a firm understanding of the market and the process of these complex transactions involving commercial real estate. Currently, areas surrounding Philadelphia are the site of what could be described as a commercial real estate boom.
How could my project be affected by Philadelphia's zoning laws?
Transactions and business projects involving commercial real estate can be complex because of the many different factors and players involved. In many cases, a successful transaction involves not just negotiating an agreeable deal between a buyer and a seller, but also ensuring that the project-as envisioned by the prospective owner-can go forward as planned. Whether someone is looking to buy an existing property or build a new property, it is critical to look at the zoning laws and what they will allow.
Residential real estate market remains soft in Pennsylvania
Some states across the country are seeing signs of a reversal of the economic downturn. This would mean many things, including the possibility that there would be a turn for the better in residential real estate, and that foreclosures would be of a decreasing occurrence. Unfortunately, according to a report recently released by Wells Fargo, this may not be the case in Pennsylvania.
