The recession has had its negative effects on the real estate market. But, it has forced new innovations and new strategies for commercial buyers. Below are two positive aspects that have arisen since 2010 that have altered the course of the industry for the better.
Commercial Properties are Slipping Over Long Time Frames
The commercial property itself has slipped in value from ten years ago, in 2005. Obviously, the recession had a major impact on that. Experts are predicting that the same may happen by the turn of 2025 for commercial properties. It is not all bad news, of course. The value of land is increasing a little bit faster than the amount the property itself is decreasing. This makes up for the loss in the value of the property.
It also has another fantastic benefit. It has causing a mild buyer’s market. It means that the buyer’s have a subtle advantage when they are seeking a new business property. They have time working in their favor. In a way, it is resulting in a stronger market economy that encourages small buyers.
A Brief Look at Small Business Loans
The economy took a massive hit in 2007, and the real estate in Somerville MA industry was a major catalyst for the downfall. It has fundamentally changed the climate of buying commercial properties. Nearly everyone seems to be applying for a Small Business Administration loan. Known as an SBA, the loan opens new opportunities for potential business owners. Commercial Real Estate in Somerville MA does not have to be bought with cash or with a structurally tight traditional bank loan. The organization has built-in some great benefits for small business owners in an effort to infuse new money into the economy. Even if it may not be financially necessary, a Small Business Administration loan should always be considered.
The Norton Group Inc. understands the many dynamics of the real estate market in Massachusetts. Contact the team through their website. Also consider making an appointment to come in and state the specific needs of any of the many commercial properties currently available. The above changes reflect a new energy and success possible in the real estate market.
