Assignment 7: Real Estate Trends

Researchers have forever been trying to find new ways to build properties and buildings that help sustain environmental standards. The use of glass has been of recent delight to builders because it was typically a symbol for energy inefficiency, but with advancements and modern techniques it has become the staple of green building.

The use of electro-chromic glass, also known as smart glass, uses electricity to instantly darken or lighten the interiors, depending on the time and season. For years it has been used in car rear view mirrors and automobile sunroofs but recently this "masterpiece" has taken over the real estate market.

An example I have used for this trend is the W Hotel in San Francisco. By letting users regulate how much heat and light enters their building, it reduces energy and eliminates the need for blinds and screens. More information about this hotel can be found on the link provided below:

Smart Glass Windows- the cool new thing

I chose this trend because I love the idea of huge windows in a residential property, but was terrified at the amount of heat exchange or the bills I would have to pay for keeping the air conditioner working. I believe smart glass has proven to be successful in many arenas and it definitely will be seen more often!

Assignment 6: Investment in Properties

Considering the country I grew up in, I have decided to look up real-estate properties in Qatar, a middle-eastern country with the highest per-capita income and one of the most developed countries today.

I plan to invest in retail and residential properties that have seen a significant boom over the recent years. Qatar has shown at least fifteen years of economic growth and rents have tripled over the past 6 years especially in the capital Doha. Another interesting fact is that there is no personal income tax, VAT, capital gains tax, or wealth tax.

Since 2006, infrastructure in Qatar has taken a hike due to Asian Games that fostered an economic development. Ever since Qatar has been bidding on major projects with a potential to host FIFA 2022. As a result, most of the city hotspots like Messaied, Doha, Al Khor, Ras Laffan, etc., have seen tremendous growth in residential and retail opportunities. Rental rates in Qatar have increased eight percent with the highest price being around $6000 for a four bedroom apartment.

Foreign investors can own residential properties for 99 years according to the law in Qatar. If everything fails, I will rent an apartment for just $1000 in some of the coolest locations.

Here is a link to check out a few properties that we can rent:

http://www.qatarpropertyplanet.com/search_properties.cfm?page=2&search=true&submit=Search&search_home_type=1&search_home_town=1&search_home_area=null&search_rent_sale=rent&price_min=1000&price_max=7000&bedrooms=2&bathrooms=2&furnished=null&order_by=no_sort&search_agent=null&language=uk

Assignment 5: Foreclosure

http://www.huffingtonpost.com/2013/04/29/fantasia-barrino-foreclosure-loses-battle-north-carolina-mansion_n_3179038.html?ir=Black+Voices

Above is a link to an article I found about Fantasia Barrino's  judicial foreclosure on a North Carolina mansion which was reportedly purchased in 2007 for 1.3 million dollars.

According to reports, Barrino failed to payback nearly $70,000 tax loan, filed by the Florida based company that provided the money. 

I think the mansion would not be foreclosed, since the lender is trying to recoup the debt by any means.

Assingment 4: My Hometown

My Hometown: Doha, Qatar

I was born and raised in Qatar, a small country located in the Arabian Peninsula, till I was eighteen years of age. It is ruled as an absolute and hereditary emirate by the Al-Thani family since 19th century.

Qatar has proven to be rich in oil and natural gas and has the world's highest GDP per capita, growing by 19%, the fastest in the world. With a population estimate of 1,903,447, the foreigners outrun the native Qataris with majority of the population constituting of other Arab countries, the Indian subcontinent, and Southeast Asia.

The economy of Qatar focused on fishing and pearl hunting before the discovery of oil. After its crash in the 1930s with the Japanese cultured pearl, discovery of oil set the country to a phenomenal boost in income resources. Today Qatar remains one of few countries with the lowest tax rates in the world.

Education in the country has become a primary objective in the recent past, enabling top level universities to set up colleges in Qatar, with Texas A&M University being one of them.

Today Qatar remains one of the fastest growing countries of the world with huge capital spending on infrastructure and transportation, all in the hope to host Fifa 2022. They also hold records and awards for spectacular buildings in jaw-dropping shapes.

I loved living in Qatar especially because it is a safe country and well diversified. Of course, if you have a bank account like the native people then you probably could enjoy your life there with super exotic cars, huge houses, extraordinary spending, and travel anywhere in the world all because you can!!

Assignment 3: Guest Speaker

On January 28th we were visited by two guest speakers,  Mr. Gentry and Dr. Harrison, who are Texas A&M University graduates themselves. The former is a lawyer while the latter practices medicine and invests in real estate & businesses.

The topic was about a special development project off Briarcrest and Highway 6 here in Texas. Both enlightened us about various issues they faced at the start of this project and how vigilant we must be when purchasing a property and developing it. The particular project faced issues regarding public restrictions, mainly easements.

However, to me the most interesting fact about the talk was how they acquired the piece of real estate. Dr. Harrison inherited it from his grandfather who as a matter of fact won it in a poker game.

Now how fascinating is that? Wish my grandfather did something like that. Another interesting fact is how another fellow Aggie asked Dr. Harrison to donate the piece of land to him to which he gestured, "yeah right"!!

What I learnt at the end of the day is Real Estate is a business, there is no free business, if you want it you have to fight for it! 

Assignment 2: Restrictions On Real Estate - Private and Public

Let's say someone owns the entire fee simple ownership rights of a piece of real estate, this idea will always be restricted or limited by public or private entities. Collectively known as encumbrances, they are binding on anyone who gains a subsequent interest in a property. Sometimes it may adversely affect both the use and the value of the property, and otherwise it may enhance the value of a property by protecting it from detrimental actions by others.

Private Restrictions include:

• Covenants, conditions, and restrictions (CC&Rs);
• Liens;
• Easements;
• Profit a prendre;
• Adverse Possession; and
• Encroachments.

Covenants, conditions, and restrictions are promises made by a landowner about how the property will or will not be used that are enforceable through the court system. These promises are typically found in the deed.

A lien is a claim on a property as either security for a debt or fulfillment of some monetary charge or obligation. The two types of specific liens are mortgages and mechanics' liens. A mortgage is when the purchasers often pledge the property as collateral for the debt. Mechanics' lien protects those who provide labor or materials for real estate improvements.

An easement is a right given to one party by a landowner to use the land in a specified manner. the landowner does not have to give up his or her land, but rather coexists with the holder of the easement. An easement appurtenant exists when an easement is legally connected to an adjoining property. An easement in gross is a situation with no dominant estate, but only a servient estate.

 A profit a prendre is a nonpossessory interest in real property that permits the holder to remove part of the soil or produce of the land.

An encroachment is an unauthorized invasion or intrusion of a fixture, a building, or other improvement onto another person's property........(And for some reason you thought you were living in a civilized country where such an instance wouldn't happen!).

A good example of private restrictions on real estate is exemplified in this article, Steiner vs Windrow Estates Home Owners Association.

P.S., I actually thought goats were pets.

As we learn more about real estate, we notice there are restrictions which the government creates on the ownership of real estate. Yep, don't ever think you are exempt from that. These are known as Public Restrictions on Ownership. These limitations arise from governments' powers of;

• taxation
• eminent domain
• police power; and
• escheat

The first power of government over private property is the power of taxation. The government exercises this power by levying both property and income taxes.

Under the power of eminent domain, a government can acquire property for a public use, even if the owner doesn't want to sell, as long as the owner receives just compensation. 

Under police power, governments have the power of regulation, which gives them the ability to protect public health, safety, morals, and general welfare.

Escheat is the transfer of title of an estate or a property to the state after the death an individual who does not have a will and legal heirs.

Here are some links to better understand how the government uses its powers to restrict ownership:

1.coloradoan (so they could built a prettier one with a fountain? This is hilarious).

2.centralpennbusiness

So there you go, now that you have some basic knowledge about all these weird restrictions, I hope you'll know better about burning the grass on your field or making that massive water theme park in your backyard!!

Task 2: Why Do I Like Real Estate?

The Taj Mahal

In 2008, me and a few of my friends decided to take a short tour through some of India's diversified states like Punjab, Delhi, and Agra. Being our last destination, Agra had one of the world's wonders - The Taj Mahal, which, I had seen only in pictures and history books about India. But it laid no foundation to what  I was to behold. Even better, I stood there awestruck at sunlight brushing lightly over white marble with all its glamour bringing to life a fascinating piece of art through architecture. This beautiful mausoleum was built by Mughal Emperor Shah Jahan for his wife Mumtaz Mahal and stands as a masterpiece of Mughal Architecture. Talk about love!

The Art

The construction began around 1632 and was completed around 1653. It involved thousands of artists and craftsmen to design the interior and exterior. The decorations were created by applying  paint, stone inlays, or carvings. Another interesting work which you can see on the arches and doorways is calligraphy - something common in Mughal and Persian architecture.

The minarets which are 130 ft tall display the designer's penchant for symmetry. They were designed as working minarets which are a traditional element of mosques. The main chamber houses the false tombs of Mumtaz Mahal and Shah Jahan, the actual graves lie at a lower level. 
The Taj Mahal was constructed with materials from all over Asia and India. The white marble was brought from Rajasthan, jasper from Punjab, jade and crystal from China, turquoise from Tibet, sapphire from Sri Lanka and the carnelian from Arabia. Altogether, 28 types of precious stones were inlaid into the white marble. A view of this masterpiece at dusk magnifies the beautiful art work and brings the precious stones to life!