Blog Assignment Seven

New Trends

A trend I've been noticing in Texas is similar to the adaptive reuse trend taking place around the world. However, in Texas, specifically College Station, we don't have as many older buildings that have the quality bare bones necessary to continue this trend. Instead, a lot of the student housing has gone towards more of a theme-based market. 

For example, The Factory and The Warehouse were both new constructions built to look like they were old industrial factories and warehouses. One of their best features, that is consistent with this theme, is the exposed brick carried throughout the units.  

 Another example is Wave Z Islander. This apartment complex was created to give the look and feel of island living in the middle of a rural area. This theme is carried out throughout the entire complex from the island resort themed pool to the furnishings inside each unit. 

Blog Assignment Six

Property to Invest In

I have lived in the College Station/Bryan area for the past four years and will continue to live here for at least two more years. I would choose residential to invest in, specifically multi-family apartments. With the university continuing to grow at such a quick rate, as well as the city I feel that apartments would be the best investment for me. 

The average occupancy for apartments in the College Station area is 100%. 
There are average rental rates of $0.84 per square foot. 

Blog Assignment Five

Foreclosure

This woman and her husband were defrauded by her lender and contractor over a period of several years. After two years the contractor abandoned the job site (which didn't even have drywall) and later died. The couple had to choose to continue to fight for justice or continue to pay their mortgage. They ended up with a total of three mortgages throughout this process. As a result of their decisions, they got behind in their mortgage payments. In the end they actually decided to do a short-sell opposed to a foreclosure. 

Blog Assignment Four

My Hometown 


Most would say that they've never heard of my hometown and that's to be expected. I grew up in West Columbia, Texas which is a town about an hour south of Houston near the Lake Jackson, Angleton, and Bay City areas (which are also pretty small). Regardless of size, I must say that I absolutely loved growing up in West Columbia. I like that everyone knows everybody because that creates a huge support system (and also can create quite a few rumors). 

Growth
West Columbia has a population of 4,445 people with reports of 3,905 from the last census. That's a growth rate of 13.83% which is pretty impressive for a town that's so far from the metro areas in Texas. 

Demographics 

Age Distribution: 
Average Age 34.9 years 
Under 18 yrs. 34.6% 
18 to 24 yrs. 7.2% 
25 to 44 yrs. 29.7% 
45 to 64 yrs. 17.3% 
65 yrs and over 11.2% 


Physical Features: 
Area 2.56 mi. 
Elevation 30 ft. 
Parks 34 acres 
Pool 1 


Climate: 
Climate Type Sub-Tropical 
80°F/50°F 
Precipitation (Average) 56.7 
Humidity (Average) 73% 
Temperature (Average) 
Mean Max (July) 91°F 
Mean Min (January) 44.6°F 
Winter Months December - February 
Summer Months May - October 
Elevation 28 ft. above sea level 

Economics

Taxes: Sales Tax 8.25% 
Property Tax (Inclusive of all taxing 
entities) $2.775/$100 valuation


West Columbia, known as Columbia at the time, was the birthplace of the Republic of Texas in the year 1836. Two buildings served the house Congress and the principal offices of the government. Listed below is a photo of the replica of the building where Congress met. (The original was destroyed in a storm during 1900).

A piece of history that most people don't know is that Stephen F. Austin spent many hours and nights in this cabin. It is said that the cold, that eventually led to his death in West Columbia, could have been contracted at this location. There was no fireplace to keep him warm on the nights he stayed working late into the next morning. 

Another history marker is the Varner-Hogg Plantation. "Varner-Hogg Plantation's history begain in 1824 when Virginia native, Martin Varner, became one of the 297 grantees who purchased 307 parcels of land from Stephen F. Austin and established a colony in present-day Brazoria County. The Varners received 4,428 acres and they brought at least two enslaved men to farm and raise livestock on a small scale and establish a rum distillery." More history can be found here.

A fun and fairly new addition to our town is a place on the Brazos River called Belle's Landing. This "Public House" is decorated with interesting photos and memorabilia of our town's rich history. They even offer boat tours along the river. 

Blog Assignment Three

Guest Lecture

Dr. Sam Harrison and Mr. Mike Gentry were guest lectures in our class and spoke of the process it takes to develop a property. Dr. Harrison told the story of how the land near Briarcrest and Hwy. 6 entered his family. I found it very hilarious that the land was actually won in a poker game by his great grandfather in 1902. 

Maroon runs deep in Dr. Harrison's blood. His great-great grandfather was a member of the first class at Texas A&M where he lived in a tent his freshman year. Dr. Harrison also attending Texas A&M, but he assured us he did not live in a tent. 

The land Dr. Harrison and Mr. Gentry spoke of used to be in the town of Boonville. There were freed slaves buried in the small town and the men had to be cautious of potentially finding artifacts while in the process of developing. 

There are many hoops you have to jump through and regulations that need special attention while developing land. Dr. Harrison mentioned $250K that had to be spent in order to remove contaminated soil from the land and dumped in Austin, Texas (serious..not just me being an Aggie here). He also had to remove the new soil he spent so much on to build a retaining wall afterwards. 

Overall I really enjoyed having these two men as guest speakers. They really brought the class up to speed on what it's really like trying to develop a property and they did so lighthearted and  with humor.

Blog Assignment Two

Task One:

Private Restrictions on real estate are restrictions placed on the ownership interests limiting the usage of land. These restrictions are placed on the property by an individual or developer and can be referred to as encumbrances. Encumbrances are restrictions and limitations on the free simple ownership rights that run with private and public land and can include the following: liens, easements, encroachments, profit a prende, covenants, conditions, restrictions, or adverse possession. 

An example of a private restriction can be found here. A man "moved in" to a multi-million dollar home in Florida by paying nothing. The man did this by squatting after the original homeowner had to move out for not making his payments. The squatter actually posted a "No Trespassing" sign and the neighbors were not happy about it one bit.

Task Two: 

Public Restrictions on real estate are restrictions are similar to private restrictions other than the fact that they are, in fact, public. Some examples of public restrictions include the following: police powers, escheat, eminent domain, and taxation. 

An example of a public restriction can be found here. Some of the residents in a town in Pennsylvania are not happy with the affects of eminent domain in regards to an oil and gas company that has come to town. Spectra Energy, a Texas based company, has caused quite an uproar in the small town. Several of the residents have even blamed the oil company for health issues but have made the decision to sell their land to them because they had no other choice. 

Blog Assignment One (1/24/13)

Task One

As you can see to your left, my name is Natalie Kuban and I'm a senior, finance major from West Columbia, Texas. I'll be graduating in May 2013 and I am not sure which career choices I will make at this time. I've always been interested in the banking world and wealth management, but now real estate has seemed to spark an interest. Here's a link to my LinkedIn page.

Some of my hobbies include: watching football with my family, reading, watching movies, pinning way too much stuff on pinterest (my board), spending time with my friends and family, and attempting to learn how to play golf. One thing that is unique about myself is that I have never broken any bones. A few things I have on my bucket list are:

• Travel throughout Europe (backpack style)
• Meet George Strait
• Own a lake house with my brother
• Go scuba diving 
• Run a 5K (b/c we all know a half marathon isn't happening)

After my semester in this course I hope to have a better understanding of the real estate industry and possibly some insight into where a potential career in the industry could lead.

Task Two

St. Basils Cathedral 

Saint Basil's Cathedral is located in Red Square, Moscow, Russia. I find this cathedral to be one of the most interesting pieces of real estate there is. This building has remarkable colors as well as architecture and I have never seen anything like it. I am interested in its rich history as it has been consecrated in 1561. Although I have not traveled to Russia to see this building in person, I would love to have the opportunity one day.