For several years the national economy has been in great shape, including the economy in California. The stock market is strong and so is the real estate market - two of the pillars of our economic power. However, for a few months now our readers may have been seeing news reports about the potential for an economic recession to occur sometime soon. For those who have investments tied up in real estate in California, the potential impact of an economic recession may weigh heavily on their minds.
Anyone who has ever owned and sold a home knows that timing is crucial. Put your house up for sale during the wrong time of the year and it may sit on the market for weeks, or even months. But, if you put the house up for sale during the hottest time of the buying season - typically late spring or early summer - you may benefit from a hot market, with bidding wars developing for your suddenly much sought after home.
The national economy has been in decent shape for several years now, and millions of Americans, including many in California, have benefited greatly. Thousands of new jobs open every month, the stock market is in good shape and, perhaps most importantly for homeowners everywhere, the real estate market is holding strong. However, there are always naysayers out there, and some are starting to throw around the dreaded "R"-word: Recession.
California residents can obviously become trepidatious when they are getting involved in a real estate transaction, whether it is residential or commercial in nature. These types of transactions often involve thousands, if not hundreds, of thousands of dollars. With such an expenditure of funds, the results must be right.
There are many business owners in Palos Verdes Estates and nearby areas in California who operate their business from rented premises. Such business owners would agree that disputes with the landlord-over rent, breach of fiduciary duty and other issues-are fairly common. Unfortunately, some of these disputes have the potential to severely affect the prospects of the business that operates out of the disputed property. On the other hand, a property owner may also be affected because of the same reasons.