A Few Notes Regarding the Current Real Estate Industry
Oct. 6, 2022
Obviously, interest rates have gone up and the extremely active and crazy real estate market that we have experienced over the past 3 years must now cool off. However, interest rates are still relatively normal based upon the past 30 years and people still need to make life plans. My law office remains quite busy with new purchase and sales transactions daily.
Landlord/Tenant litigation has also picked up as eviction moratoriums are waning. Unfortunately, the more densely populated Counties are experiencing significant trial delays. I have been able to get some cases before the Court on an emergent basis, but same must be valid. Monetary losses are not considered as an “emergent” concern by the Courts.
My law practice has also been extremely busy lately regarding Estate related real estate transactions and investment property transactions. More clients are choosing to do 1031 Tax Exchanges rather than to incur significant tax payment requirements at the time of closing on the sale of investment properties.
All of the above types of matters are keeping my office (and other attorneys with whom I speak) very busy as the Summer ends and the Fall season begins.