Task #1 - Real Estate vs. Real Property
1. Real estate is defined as a land plus any permanent attachments or fixtures such as buildings, housing, or natural resources. Real property is similar, but also includes intangible legal rights and interests that come with the property.
2. Below is a link to an article that discusses a legal dispute between a property owner and the local government over his real property rights to build a dock over an abutting body of water along his property. The city passed an ordinance which forbids the right to build a dock in order to protect "seagrass" which they claim is "an invaluable natural resource".
http://www.cato.org/blog/yes-florida-constitution-protects-property-rights
Task #2- Private Restrictions on Real Estate
1. Private restrictions in real estate, also called " private encumbrances", are restrictions on the fee simple ownership rights that generally run with the land. There are many types of private encumbrances such as CC & R's, liens, easements, profit a prendre, adverse possession, and encroachments. For example, a deed restriction would be considered part of covenants, conditions, and restrictions (CC & R's) which limits the way a property owner can use his or her property.
2. Below is a link to an article describing a legal dispute concerning private restrictions on real estate between preservationists and a developer named Tistar Capital over the right to build a retail center in the courtyard of a historic community church. The preservationists argue that the building would not only block views of the church, but would be built in a courtyard that should remain open due to a 1920 deed restriction.
http://www.miamiherald.com/news/local/community/miami-dade/miami-beach/article3510703.html
Task #3- Public Restrictions on Real Estate
1. Public restrictions on real estate are limitations on the ownership of real estate which are created through the government's power of taxation, eminent domain, police powers, and escheat. For example, in order to protect the health, safety, morals and general welfare of the public (police powers), the government is given the power of regulation which can be used to create residential, commercial, and industrial zoning laws and building codes.
2. Below is a link to an article discussing how Houston, Texas is the only major U.S. city without a formal zoning code. The article states that Houston's separation of land uses is driven by economic forces instead of mandatory zoning which has lead Houston to be noticeably similar to many other major cities, despite the absence of zoning regulations.
http://www.businessweek.com/the_thread/hotproperty/archives/2007/10/how_houston_gets_along_without_zoning.html
Tuesday, November 4, 2014
Tuesday, September 9, 2014
Blog Assignment # 1
Task #1 - Introduction
Howdy,
My name is Alexandros Kapetanakis and I am a senior finance major expecting to graduate in May of 2015. I was born and raised in Houston Texas, and come from a multi-cultural family of Greek (dad's side) and Peruvian (mom's side) descent with three brothers (one older and two younger). I enjoy playing or watching sports, camping, hiking, hunting, and binge watching TV shows on Netflix in my free time. I am currently interested in pursuing a career in the oil & gas industry and spent the entire summer of 2014 interning for an independent petroleum refining and marketing company named Tesoro which is headquartered in San Antonio. An interesting fact unique about myself is that I played rugby all four years of high school and currently play for the Texas A&M club team. Concerning what I want out of this class, I want to acquire a solid understanding or foundation of real-estate and the market itself so that I can capitalize on real-estate investment opportunities in the near future. Speaking of the future, some things I hope to accomplish in my lifetime are: own my own business, retire before the age of 50, travel to New Zealand, hike the entire John Muir Trail of the Sierra Nevada, and learn how to play the guitar.
Here are some links to my favorite websites:
Above is a picture of myself hiking Angel's Landing this summer at Zion National Park, Utah.
Task #2 - Machu Pichu
In my opinion, I consider the world famous Inca ruins of Machu Pichu to be the most fascinating parcel of real-estate in the world. My mom and her entire side of the family is from Peru and I've had the opportunity to travel to Cuzco and see Machu Pichu myself. The ruins are an amazing feat of architecture themselves, but what I thought made Machu Pichu a really special place was the location and its beautiful surrounding landscape. It is situated on an extremely isolated mountain ridge above the Sacred Valley in the Andes Mountains which is 7,970 ft. above sea level and surrounded by lush rain-forest. It was built by the Inca Empire around the year 1450 as an estate for the Incan Emperor of the time, but wasn't discovered until 1911 by an american explorer due to its isolation. Visiting Machu Pichu was an unreal experience I will never forget, and is what I consider the most fascinating and original parcel of real-estate in the world. If you ever travel to Peru or South America, I highly recommend visiting.
Howdy,
My name is Alexandros Kapetanakis and I am a senior finance major expecting to graduate in May of 2015. I was born and raised in Houston Texas, and come from a multi-cultural family of Greek (dad's side) and Peruvian (mom's side) descent with three brothers (one older and two younger). I enjoy playing or watching sports, camping, hiking, hunting, and binge watching TV shows on Netflix in my free time. I am currently interested in pursuing a career in the oil & gas industry and spent the entire summer of 2014 interning for an independent petroleum refining and marketing company named Tesoro which is headquartered in San Antonio. An interesting fact unique about myself is that I played rugby all four years of high school and currently play for the Texas A&M club team. Concerning what I want out of this class, I want to acquire a solid understanding or foundation of real-estate and the market itself so that I can capitalize on real-estate investment opportunities in the near future. Speaking of the future, some things I hope to accomplish in my lifetime are: own my own business, retire before the age of 50, travel to New Zealand, hike the entire John Muir Trail of the Sierra Nevada, and learn how to play the guitar.
Here are some links to my favorite websites:
- www.reddit.com
- www.bleacherreport.com
- www.netflix.com
Above is a picture of myself hiking Angel's Landing this summer at Zion National Park, Utah.
Task #2 - Machu Pichu
In my opinion, I consider the world famous Inca ruins of Machu Pichu to be the most fascinating parcel of real-estate in the world. My mom and her entire side of the family is from Peru and I've had the opportunity to travel to Cuzco and see Machu Pichu myself. The ruins are an amazing feat of architecture themselves, but what I thought made Machu Pichu a really special place was the location and its beautiful surrounding landscape. It is situated on an extremely isolated mountain ridge above the Sacred Valley in the Andes Mountains which is 7,970 ft. above sea level and surrounded by lush rain-forest. It was built by the Inca Empire around the year 1450 as an estate for the Incan Emperor of the time, but wasn't discovered until 1911 by an american explorer due to its isolation. Visiting Machu Pichu was an unreal experience I will never forget, and is what I consider the most fascinating and original parcel of real-estate in the world. If you ever travel to Peru or South America, I highly recommend visiting.
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