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.

About Me: Jake Abshire

About Me: Jake Abshire

Major: Finance

Graduation Year: 2013

Hometown: Huffman, Tx

Hobbies/Interests: sports (primarily football, tennis, and badminton), spending time with family and friends, playing the guitar, etc.

I hope to gain a better understanding of the real estate world. I'm graduating this upcoming May, so it would be beneficial to acquire some basic real estate knowledge before I began the search for my next place of residence.

Short term goals: graduate from Texas A&M with a degree in Finance this upcoming May

Long term goals: start a family, purchase my own home, be remembered for positively influencing the lives of those around me

Unique Fact: I've been skydiving

Bucket List: travel throughout Europe, parachuting, visit Australia, attend the Olympics one day

Favorite Links: espn.com, foxnews.com