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Kansas investors should see gains from real estate investments

According to a survey released by a division of the Urban Land Institute, commercial real estate is expected to experience sustained gains in value over the next three years. This conclusion was reached after analyzing market data that indicated sound economic fundamentals. Transaction volume was expected to grow 11 percent in 2015 compared to 2014.

Total volume was expected to be $470 billion compared to $424 billion in 2014. Future volume is expected to reach $500 billion in 2016 and hold steady at that number in 2017. That would be a 6 percent increase from 2015 numbers. A total of 46 economists were surveyed for this study, and they cited the stronger labor market as one of the major reasons why this was going to happen.

Commercial real estate prices are expected to rise and rents are expected to stay above average in all markets for the foreseeable future. Prices are currently increasing by 7.6 percent per year compared to a historical average of 5.3 percent. Rental rates, vacancy rates and total return on real estate investments are expected to stay at or above averages set in the past 20 years. Investments in warehouses and hotels are expected to yield the highest returns compared to other commercial properties.

Those who are looking to purchase commercial real estate may wish to talk to an attorney prior to making an offer. An attorney may be able to ensure that a building is in an area zoned for its intended purpose. Legal counsel can also assist in negotiation and preparation of the purchase agreement as well as in the review of the terms of the applicable financing documents.

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Our condo association was faced with monumental construction issues thanks to the original developer of our complex. We were cash poor and in no position to get legal representation without a contingency fee arrangement. Luckily for us, Scott Long and Burke Robinson were willing to take us on as clients. Their work ethic, professionalism and knowledge of condominium construction served our association very well. Any association would be well served in hiring these gentlemen to represent them.

Board of Directors - Plaza Gardens on the Lake Condominium Owners’ Association Lake of the Ozarks, MO

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