It wasn’t that long ago that real estate investments in Texas and the rest of the nation were considered risky. The market was extremely volatile after the economic downturn in 2008. Now, however, Houston is in the midst of an economic boom and residential and commercial real estate investments alike are very appealing.
According to the “Emerging Trends in Real Estate 2014 Report” published by the Urban Land Institute, Houston is ranked as the number one market in the United States for both investment real estate as well as apartments, with luxury apartments especially desirable. The city took second place honors for home-building prospects and is ranked as the third best city in the nation for development. A number of large companies are moving their headquarters to Houston is, in part, driving the population growth and real estate boom that Houston is experiencing. Overall, the real estate market in 2014 is predicted to be the best in recent years and is ranked as the second best in the nation.
Predictions such as these can sometimes inspire developers or others in the real estate industry to take on more than they can handle. As a result, real estate disputes can arise. Any entity that is considering investing in new construction, commercial real estate or property management could benefit from speaking with an attorney first. An attorney can also represent your best interests during contract negotiations and review management agreements for new developments, among other things. Failing to consider all of the legalities involved in real estate transactions can quickly turn a lucrative investment into an expensive lawsuit.
Source: Houston Business Journal, “Houston 2nd hottest real estate market for 2014,” Olivia Pulsinelli, Jan. 16, 2014