Madison Wi Realty

Concealed carry law affects conditions in commercial real estate

Louisiana’s law that allows the carrying of concealed weapons, with certain restrictions, has been in place for a while now. But we haven’t seen what could take place in Wisconsin, where a similar law was approved earlier this year and takes effect in November.

An expert in commercial real estate law says prospective office tenants could ask that their lease include a provision that concealed weapons aren’t allowed on the premises and require the landlord to post signs with that policy on the building.

The Daily Reporter, our sister publication in Milwaukee, has learned that many commercial real estate lawyer Scott Langlois.

"Right now, the owners do what it takes to get the tenants of their buildings," he said. "So if a tenant requests that something be in the lease that the buildings have signs restricting concealed carry, I think most owners would agree to that. "

Langlois might be hoping to make that point to the account of potential customers, but there are real concerns of business owners who want to keep weapons out of their property.

Jessica Ozalp, a litigator from Madison, Wisc., said her clients have asked her what steps they would have to take to keep concealed weapons out of their work place.

“I haven’t heard anybody call and say they are happy that they can allow guns on their property,” Ozalp said.

Meanwhile, developers and property managers are wondering what their policy will be once the law goes into effect, and a question of where liability falls could affect their decision.

The new law provides liability immunity to any person or employer who allows concealed carry on their property. But if a building owner posts a sign restricting access to such permits, they don’t have the same exemption.

Housing Data Looks Good for Madison Homes

Goes, this has a positive effect on market prices. Here's the low-down. As long as the housing data showed the foreclosure rate was increasing, it put downward pressure on the market price of every Madison home—WI properties everywhere really. Every time another home went into foreclosure or even a short sale, the negative housing data ticked up. Foreclosures put pressure on every other seller to keep their prices at rock-bottom levels. This price pressure drags the housing market lower and lower and feeds a vicious cycle. But at last, there's some good housing news to report.

Down by almost a quarter, this is the kind of housing trend that should catch your eye. Just as an upward trend in foreclosure housing data will depress prices, a downward housing data trend lets housing market prices rebound. Of course one "plus" factor in housing data doesn't ensure a trend. But two or three good factors in the housing data just might.

If the better foreclosure housing data we've already seen is truly making a market prediction of better times, we would expect to see some more, good housing data to back it up.  And in South Central WI, which includes Madison homes, it does. The housing data for 2011 median sale prices show month over month increases from February ($135,000) through June ($165,000.) Two things can drive this type of housing data up. Either prices are going up in general or more higher priced homes are selling. Either way, it is good news for the 2011 housing market. But wait… there's more!

A third piece of housing data that supports the market prediction of better times ahead is a steady increase in home sales.  February 2011 housing data show just over 500 homes were sold in the region. The good news is that number that grew to 1,190 homes sold in June. Housing data showing increased sales is a "proof-in-the-pudding" measure of better times ahead.

This housing data is good news for both! Sellers find the housing data good because market prices are stabilizing and trending up rather than down. Buyers like this housing data because it is always better to buy when prices just start heading up, rather than down.  Uncertainty is what makes buyers afraid to pull the trigger. Housing data that dispels uncertainty is welcome indeed.

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