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Real estate expert feels that bubble concerns are unfounded

Real estate investors and developers in Kansas may be concerned about a possible bubble as commercial property prices in many parts of the country surge to levels not seen since the days leading up to the 2008 financial crisis, but some observers feel that these concerns are unfounded. Don Peebles is the CEO and president of one of the nation's foremost real estate investment companies, and he believes that commercial real estate will continue to be a sound investment for the foreseeable future.

The gains in commercial property values are being fueled largely by soaring prices in major cities like New York, Chicago and Los Angeles. Peebles observes that the market for office space has still not reached pre-crisis levels in these cities, but demand for multi-family residential property remains robust. However, Peebles also points out that working and middle class families will find it difficult to purchase homes in major urban centers if prices continue to rise.

Peebles also advises real estate investors and developers to pay attention to the wishes of property buyers. He says that heavy traffic can make commuting in cities like Los Angeles exhausting, and residential projects in these cities will do well if they allow buyers to live close to their places of employment.

Another point Peebles addressed is the high costs of real estate development. Long lead times and material price increases can shrink profits, and some property investors are looking into alternatives to construction such as real estate investment trusts. Experienced real estate attorneys could provide advice to property investors by assessing the merits of a development and pointing out possible challenges such as zoning or regulatory disputes. Attorneys may also provide guidance about alternative forms of real estate investment such as gauging the property portfolios of REITs.

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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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