The Cove Waikiki

The Cove Waikiki is Hawaii's newest residential community for those who don't want to live in the heart of Honolulu. It's labeled as "an intimate mid-rise community offering sophisticated contemporary residencies.

I chose this new real estate project because of its desirable location (Hawaii), and it's large potential for sustained success. It's features and benefits include its central location to shopping, dining, entertainment and schools, which gives makes it an extremely walkable community. It's also an easy commute for downtown workers; it's located 10 minutes from the heart of downtown and promises less traffic, gas, and stress.

Which Property Type Should You Invest In?

The city I chose for this assignment was College Station, Tx. I've spent the past four years attending school at Texas A&M University, so I've become familiar with a few of its properties. If I were investing, I would look into investments in off-campus apartments. Student apartment complexes are built each year because living space will ALWAYS be in demand for Texas A&M students. 50,000 students are currently enrolled in the University, but the number will continue to increase as the school funds expansion projects. Below are a few statistics from city-data.com that show why this investment has great potential value.

#1 on the list of "Top 100 cities with highest percentage of college students (pop. 50,000+)"

#1 on the list of "Top 100 cities with youngest residents (pop. 50,000+)"

#5 on the list of "Top 100 cities with shortest commuting times (pop. 50,000+)"

#15 on the list of "Top 100 cities with highest percentage of renters (pop. 50,000+)"

Read more: http://www.city-data.com/city/College-Station-Texas.html#ixzz2RJrYrDlj

Foreclosure

I recently found an interesting judicial foreclosure story that happened in 2009. Unfortunately, this story didn't have a happy ending. Harry Engel was wrongfully evicted from his foreclosed home, and even suffered a heart attack from the stress which he would later die from. He was encouraged by JPMorgan to purposefully miss a payment in hopes of qualifying his family for government assistance. The bank then used his late payment as an excuse to carry out the foreclosure on his property.

My Hometown: Huffman, Tx

When I was in 6th grade, my family decided to move to the small town of Huffman, Tx. Located northeast of Houston, Huffman is surrounded by larger cities, including Humble, Kingwood, and Atascocita.

Huffman Hargrave High School is a large 3A. It's a typical Texas town that lives and breathes football. In 2010, it's new football stadium was finally completed and played host to games all season. It's currently one of the largest stadiums to host a 3A school in the state of Texas.

Huffman is growing each and every year. Families are moving to this town to escape the largely inhabited surrounding cities. It's demographics are predominately white, which makes up 94% of the total population. The median household income is $51,989. Residents of Huffman, Tx enjoy boating and fishing in nearby Lake Houston, and also attending high school sporting events.

Guest Lecture: January 28th

Two guest lecturers attended my Finc 371 class on January 28th: Dr. Harrison and Mr. Gentry. Dr. Harrison is a former Aggie that was fortunate to inherit an incredible piece of land near the city of Boonville, Tx. Perhaps the most interesting part of his inheritance was how his great grandfather came into ownership of the land; He won it playing poker of all things! Mr. Gentry is Dr. Harrison's lawyer and has been instrumental in the development process of his prized piece of land.

The lecture basically covered a real life example of the topics we have discussed throughout the semester. Dr. Harrison and his team are currently in the process of building a hotel on his land, but unfortunately have ran into a few problems. The main problem outlined in their discussion was the moving oil pipeline underneath the ground, which is causing a small amount of oil spillage. It was extremely expensive to replace the soil, but the issue has been addressed.

I thought the most interesting part of the lecture was the zoning process. Zoning requires an application to the city to determine what kind of developments can be placed on the land. It's an extremely detailed and long process but it's important to take care of it before you have a potential buyer.

Private vs. Public Restrictions on Real Estate

Private vs. Public Restrictions on Real Estate

What are Private Restrictions on Real Estate?
 - Covenants or conditions created by the land developer that limit the way a property owner can use a property. Examples of private restrictions include:

1.) Encumbrances - Restrictions on the way the owner uses the property. These strict deed restrictions preserve the value of the land.

2.) Liens - A claim on a property as either security for a debt or fulfillment of some monetary charge or obligation. Below is link that further describes property liens.

http://www.youtube.com/watch?v=NPzPmBOJD1k

What are Public Restrictions on Real Estate?
 - Covenants or conditions that the government places on the usage and rights of public property. There are four basic government powers.

1.) Eminent Domain - The governmental right to take personal property as public property against the owner's will, as long as fair compensation is provided.
 
2.) Escheat - Ability of government to take control of personal property when the owner dies without a will or living relatives.

3.) Taxation - These include property taxes, which are a proportion of the value of the property. Below is a link with an example of property taxes.

http://www.youtube.com/watch?v=ZPXznI7lOeo

4.) Police Power - Right to oversee and regulate the use of private property to protect the public's best interest.

Inspiring Real Estate

Inspiring Real Estate: 1111 Valley Commons Dr.

When you think of the most inspiring real estate in your life, what comes to mind?  The famous Eifel Tower? Or perhaps the Jerry Jones' Cowboy Stadium? These buildings, along with countless other pieces of real estate, are undoubtedly impressive to millions of people around the world. But when I think of the real estate to me personally, I look no further than the beautiful home I grew up in at 1111 Valley Commons Dr.

My father, Scott Abshire, purchased this piece of     real estate when I was 12 years old. I remember looking at this three acre piece of unoccupied land and trying to paint a picture of the home that would be built here in the coming months. The end product was a home that surpassed any and all of my early expectations. Little did I know that soon enough, three acres would stretch to seven acres, and a barn would be added behind the home.

So what makes this the most inspiring piece of     real estate in my life? There's a few ways to approach this question. First, it has a rather significant sentimental value to me, largely due to the fact I grew up in this home. Also, it's hard to ignore the family friendly, safe neighborhood in which the land resides. Lastly, this now seven acre piece of property (photos are of only the original three acres) consists of a stocked pond behind the barn, and there's still land available to continue adding to the real estate, and thus    increasing it's value.

This home on 1111 Valley Commons means everything to me. It has inspired me to one day invest in a small acreage piece of real estate and build a beautiful home for my family, just as my father did ten years ago.