Growth is a positive in Oregon whether it is in a small or large town. An increase in business activity and the need for residential housing and commercial construction will benefit the community and the state in general as it raises financial prospects by adding jobs. Still, there can be complications with real estate matters. It is important to understand the potential challenges that may arise from myriad perspectives and be prepared with legal assistance from the start. Such is the case with a growing community not far from Portland.
Real estate market in flux with societal changes
The small community of Sisters is undergoing dramatic changes leading to concerns from businesses and those seeking residential property. The town had a 2019 population of around 2,000. However, there are new projects for commercial and residential buildings underway. Empty areas are being built upon with more planned. Nearly 100 permits have been given for residential buildings earmarked for single-family residences. There are 50 apartments in one proposal and 170 units in another.
Commercial plans are also on the front burner including a credit union office and two hotels. People are moving from busier locales and heading toward the smaller communities for work and for a lifestyle they believe will be more agreeable. Real estate brokers are lamenting the competitiveness of the market in the context of what is available. The lack of options is frustrating for buyers and brokers. People who have lived in the area are pleased about the improved economic conditions, but that has also led to a rise in real estate costs with higher demand.
Legal assistance may be needed with residential and commercial real estate
Societal worries aside, there are critical factors that must be considered with a small town that is experiencing a sudden burst in popularity. This is true whether there are businesses that are planning on infrastructure and people who need a place to live. Real estate transactions, construction, residential properties, commercial properties, zoning issues, property disputes and other problems that inevitably arise, it is imperative to know the legal requirements and have experienced guidance. Consulting with a firm that understands business and real estate can be helpful to be protected and achieve a satisfactory resolution.