Second Blog Assignment - REAE 5311

Private restrictions on real estate are restrictions placed by the grantor that limit the way a property owner can use the property they own. Normally people think that if they own the property that they can do whatever they want on it, but this is not the case. Various agencies usually carry out the enforcement of these laws. Some of the most common private restrictions are easements, liens, and CC&Rs.

The following link is to a recent story of an easement dispute between a roofing company and a winery in Bailey, Colorado. Access was given to Aspen Peak Cellars by R&R Roofing to share use of the gated driveway entry that requires a security code. R&R has now decided to deny people access to the winery and have the benefits of the driveway only apply to people associated with R&R. They have threatened to block the access to the property with a 24-foot access easement. The plaintiffs are asking the court to declare an easement for access on the driveway, which would signify that there was not one prior in their arrangment for the driveway use.

http://www.theflume.com/news/first_five/article_35f12ba8-7d3a-11e2-8f47-0019bb30f31a.html



Public restrictions on real estate are restrictions placed by the government that limit the use of real property. These restrictions have to do with real estate that benefits the public in some way. This does not mean that these restrictions have to do only with public property. Some examples of public restrictions are escheats, eminent domain, and property tax.

The following link is to a recent article where an Alabama mayor is on trial for getting financial benefits by having the city purchase land that his family owned. The mayor was the original owner, but he transferred the property to his daughter prior to the sale. It is then alleged that the city paid an inflated price for the property. The focus of the case seems to be a debate on the appraisal by a right-of-way negotiator and how it differs from a real estate appraisal in their calculation methods. The law of eminent domain could have been used, but the argument is that the price paid was reasonable in regards to what it would have cost to sieze it through eminent domain.

http://blog.al.com/live/2013/02/bayou_la_batre_mayor_stan_wrig.html

First Blog Assignment - REAE 5311

Task #1

My name is Greg Garza. I was born and raised in Grand Prairie, Texas. I am currently finishing the last 3 course requirements for my MBA after completing my MPA in December 2012.

Some of my interests and hobbies include watching movies, playing softball and golf, doing mud runs, and trying ecclectic styles of food.

The things I hope to gain from this Real Estate class would be a better understanding of the Real Estate industry as I look to possibly move into it professionally, but more in an accounting role.

My short-term career goals would be to gain more experience in the accounting profession and to obtain my CPA license. My long-term career goals are to move up the professional ladder for a successful company in hopes of becoming either the CFO or CEO someday.

Something that is unique about me is that I have had 4 ACL surgeries on the same knee. Tearing your ACL is a common sports injury, but doing it four different times is something I have never heard of. I don't really have any physical limitations due to the surgeries and still lead an active life, so I am definitely thankful for that.

I have quite a few things I would like to accomplish in my lifetime. I would like to see the jumping Great White sharks in Cape Town, South Africa. Visiting Japan and trying some sushi from it's origin. Seeing the Aurora Borealis in Alaska and the Great Barrier Reef in Australia. Seeing the gorillas in the Congo. Those are just a few things on my bucket list.

Some of my favorite sites would be:

http://espn.go.com/

http://www.nfl.com/

http://www.bestbuy.com/

http://dfw.cbslocal.com/station/1053-the-fan/


Task #2

To me, the most fascinating piece of real estate is the Empire State Building. It was the world's tallest building for 40 years until the WTC North Tower was completed in 1972. It is one of the Seven Wonders of the Modern World and a National Historic landmark. When I was standing at the bottom of it, the sheer height amazed me. Plus it's the EMPIRE STATE BUILDING. Something that you see in movies and pictures and just can't believe you are about to go to the top. Also, being a big King Kong fan puts you a bit in awe since that is where the highlight of all the King Kong films takes place. They even have a collage of King Kong memorabilia when you take the tour, and I found that to be really cool. Standing on the observation deck makes you feel like you are on top of the world since you are in one of the biggest cities in the world.

King Kong Exhibit in the Empire State Building

A picture I took from the top of the Empire State Building

Inside the Empire State Building