Permit Me! Increased Construction Permits Send A Positive Signal!

constructionAs reported in Orlando Business Journal, Orlando-area construction permit values are up 47% over the prior year, which is a clear indicator that home builders and commercial developers are looking toward increased growth and a more robust economy in 2014. Advance planning and accurate forecasting are critical components for success in the commercial real estate market, so the professionals obviously expect the demand and the resources (financing, etc.) to be conducive to future sales activity.  I hope they’re right! In my own practice I’ve seen an uptick in activity from home builders, including, in some cases, purchases of raw land for future development. That’s a market that has been virtually dead for several years now as developers gobbled up previously developed (but sometimes dilapidated and abandoned) projects and vacant lots. By purchasing raw land they are telling me that (1) the inventory of available, suitable, ready-to-build lots is dwindling, and (2) they believe it is, once again, becoming economically feasible to purchase and develop raw land. If you have land or commercial property to sell or are interesting in buying commercial real estate, please engage an experienced commercial real estate attorney early in the process so he or she can guide you through the process as smoothly and efficiently as possible.  BH

Comments

  1. A great article. Thank you for sharing.

    AHNCON is a well established construction company that delivers Turnkey Projects and provides services from Project management and Construction right through to post construction sales and letting.
    For more information on AHNCON go to http://www.ahncon.co.za

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