New Orleans Real Estate & Corporate Law Blog

Warning signs when buying a home

Moving to a new home in Louisiana can be an exciting time, but there are certain warning signs that a person could also be buying future complications along with a house. When a person is buying a home, there are red flags that may indicate there are underlying problems that could lead to financial loss and legal trouble down the road. In many cases, this means it is wise to simply walk away and look at other homes.

One of the most important things a person can do is to listen to the advice of others. For example, if a realtor has concerns or a professional inspector believes there are problems, the buyer would be wise to listen, no matter how much he or she likes the house. These individuals have the experience and knowledge necessary to know when something might be wrong.

Building a Louisiana home requires many moving parts

Building a home requires several people with numerous skills. Architects, general contractors, subcontractors and others should all work together in order to get the job done. When something goes wrong with a Louisiana construction project, it can be a challenge to pinpoint who is responsible. 

Several things can go wrong with a project. It could start with flaws in the design that could range from inadequate structural support to a leaky roof to poor drainage. The work done by contractors may not meet with applicable standards, which could result in defects as well.

When should I decline to sell my real estate?

Selling property is an enormous undertaking, and after all of the hard work and effort most people put into the process, it might feel counterintuitive to reject an offer to buy. However, there are several very good reasons for doing just that. Here are a few situations in which it might be appropriate to decline a real estate purchase offer.

Home values can be tricky to determine and fluctuate regularly. Things like the housing market, neighborhood and even area of Louisiana in which a house is located can all influence what a home is worth. If an offer rolls in that is significantly less than a property's current value, saying "no" to avoid a loss is understandable. It is also perfectly acceptable to decline an offer if the seller believes that the potential buyer might not be able to secure a loan because of his or her economic position.

Louisiana real estate trends for the coming year

Among their many plans for the new year, some may be hoping to purchase property, typically either a residence or a commercial investment. Each year brings new factors to consider when making what is often the largest single purchase of a lifetime, including the economic climate and cultural shifts. In examining the trends, real estate analysts have come up with some strategies that may be useful for those in Louisiana who may be in the market for a home or investment.

Advisors have long encouraged investors to include real estate in their portfolios because of its high performance and stability. Commercial real estate may be particularly valuable, especially if the investor is savvy and keeps up with trends, including the movement toward opportunity zones. Nevertheless, commercial investors should be aware of the continuing pressure that e-commerce places on brick-and-mortar stores, so investors are moving toward those enterprises, such as gyms and restaurants, that do not compete with e-trade.

Tips for successful real estate investment

Would-be investors often look to real estate because of its dependability. Besides providing some control over one's investment, it often provides a steady passive income. However, as with any investment, success depends on many factors. How to buy in the right place at the right time is not always easy to know. Nevertheless, some successful investors offer tips for savvy real estate investing.

Location is certainly a critical concern, so when buying property, it is important to look beyond the four walls. A Louisiana neighborhood where residents and employees can comfortably walk, perhaps near amenities, is always a plus. Other signs that your investment may be profitable include its proximity to a desirable body of water, a growing tech company or major sources of transportation. These factors attract long-term tenants who may be willing to pay premium rent for your unit.

Employers: Don’t find yourself guilty of wage theft

Employers who may want to save a few dollars by shorting employees out of tips, calling employees contractors instead of employees, or making employees work through their breaks may face the same judicial repercussions as several businesses nationwide.

Employees who have been wronged by their bosses have been filing – and winning – wage theft lawsuits. These lawsuits seek to recover lost wages from employers that violate state and federal wage and hour laws.

Looking into entity type changes at year’s end

The end of the year is fast approaching. This can be a good time for small business owners to take a detailed look into what the current state of their company is and how the year has gone. Such a review can help inform a business owner on what changes he or she may want to start making regarding his or her company as the new year approaches.

There are many things that business owners may need to change as their company’s situation and needs shift over time. A few examples include their business plan, marketing strategy and workforce situation. In some situations, a change to a company’s legal structure may be in order.

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