Purchasing a first home is one of major steps in developing long-term financial stability. Sadly, many buyers are learning that the market's favor is no longer on their side. Still, with the right tools and resources, it is entirely possible to make your home purchase dreams a reality this spring. Learn more in the following sections, including how a seasoned real estate lawyer can help to tip the scales and even the play field as you enter the negotiaiton process in your home purchase.

Low Inventory and Higher Prices

During the Great Recession, investors flocked to the housing market. Many of them now own a significant percentage of livable homes throughout the country. While this may be good news for renters, who often struggle to find rental properties in high-demand areas, it also decreases the number of homes available for sale. This issue, paired with the slowdown of new housing construction after the Great Recession, means that home purchase prices are high right now, and will likely to remain high for the rest of the cycle.

People measure real estate success in different ways. For some, it is their bottom line. Others only feel they are successful when they meet a certain investment goal (i.e. closing a specific number of deals in a year). Still, there are some who set their sites on sustainable, long-term wealth.

Building a Neighborhood - How Positive Community Impact Improves Investor Wealth

While there are those who fail to see the correlation between community development and long-term wealth, data shows that small-scale developers tend to build a stronger, more stable stream of income when they become intimately involved with the community in which they are developing. That is because they take interest in what the community wants, rather than simply relying on what is “trending,” which can be extremely important in certain parts of a city.

When it comes to investing in commercial real estate, there are many factors that determine your final return - but just how important is the price of a property? Perhaps not as much as you think. Learn why in the following sections, and discover how our seasoned Naperville commercial real estate lawyers can provide you with additional leverage in your next CRE transaction.

Examining the Relevancy of Price in a CRE Transaction

While, ultimately, price does have an impact your bottom line in a real estate transaction, it may be far from the most important factor. Instead, matters like taxation, the potential long-term return on investment (ROI), utility costs, and other relevant issues may ultimately trump the importance of price on an investment property. As an example, consider the growth of Wham!, which started out at around $2.5 million for 50,000 square feet of space, but now weighs in around $11.5 million. If the investors who started out in this industry had been concerned about price in the beginning, they might have missed out on a highly profitable opportunity.

As technology advances, the way we handle everyday tasks changes. One prime example is the way that home buying has changed over the last few years. Long gone are the days when you must spend days (perhaps even weeks) viewing houses in person. Instead, you can take a virtual tour using drones and cameras. You can even complete your entire real estate transaction using technology.

One emerging technology trend in real estate is the iBuyer. This option allows homeowners to quickly and almost seamlessly sell their homes without the fanfare that is typically seen in a more “traditional” real estate transactions. Yet, like most things in life, there are some drawbacks to selling your home to an iBuyer. Learn more about them in the following sections, and discover how a seasoned real estate lawyer can help protect your interests, regardless of how you decide to sell your home.

iBuying in the Real Estate Industry - How Does it Work?

Renting out residential property out can give you a steady stream of income and increase your ability to build your wealth or a nest egg for your retirement. There are some risks involved, however.

Tenants may default on their rent or cause damage to the property. You could even be subject to a costly lawsuit if you violate the landlord-tenant laws imposed by local, state, or federal municipalities. Thankfully, by being educated and ensuring you have the right protections in place, you can decrease your risk of such issues. Learn more in the following sections.

Federal Landlord-Tenant Laws