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Austin Realtor elected chairman of Real Estate Center advisory committeeAustin Realtor elected chairman of Real Estate Center advisory committee2017-02-14T06:00:00ZCOLLEGE STATION (Real Estate Center) – Stephen D. "Doug" Roberts of Austin was elected chairman of the Real Estate Center's advisory committee at the group's meeting Friday in Austin. W. Douglas Jennings of Fort Worth was re-elected vice chairman.

Roberts, who succeeds Russell L. Cain of Port Lavaca as chairman, is a real estate broker with Moreland Properties.​

A graduate of Texas A&M University, Roberts is a certified residential specialist and accredited buyer representative.

As a Realtor, he is a member of the Real Estate Council of Austin, Austin Board of Realtors, Texas Association of Realtors, and National Association of Realtors.

Roberts' term on the advisory committee expires in January 2019.

Jennings is a vice president and principal for William C. Jennings Company. His father, William C. Jennings, served on the advisory committee in the 1980s.

The University of Texas alumnus is a member and past commercial chairman of the Texas Association of Realtors, member and past governmental affairs chairman of the Greater Fort Worth Association of Realtors (GFWAR), member and past chairman of the Society of Commercial Realtors, and a member of the National Association of Realtors.

In 2004, Jennings was named GFWAR's Realtor of the Year. He was also the 1997 recipient of the Lone Star Trophy Award for the year's most outstanding commercial transaction in Texas, and the 2002 recipient of the Charles D. Tandy Award for most outstanding commercial Realtor.

Jennings' term expires in January 2021.

The committee has three public members and one each representing residential, commercial, and industrial properties. Others represent real estate brokerage, construction and finance. Each is appointed by the governor for a six-year term. The Texas Real Estate Commission is represented by an ex-officio member.

Roberts represents the real estate brokerage sector and Jennings the commercial sector on the committee.

The committee approves the Center's research plans and reviews findings. Members also approve the Center's proposed budget before it is submitted to the university.

Funded primarily by Texas real estate licensee fees, the Real Estate Center was created by the state legislature in 1971 to meet the needs of many audiences, including the real estate industry, instructors, researchers, and the public. The Center is part of Mays Business School at Texas A&M University.​​​
http://eepurl.com/cB4uFT08-0217
Eminent domain a road block for Houston-to-DFW rail projectEminent domain a road block for Houston-to-DFW rail project2017-02-02T06:00:00Z​COLLEGE STATION, Tex. (Real Estate Center) – Texas Central’s planned, controversial high-speed railroad between Houston and Dallas-Fort Worth is one of about 50 infrastructure projects that have garnered support from the Trump administration. However, for the project to move forward, Real Estate Center Research Attorney Rusty Adams says the state, landowners, and Texas Central have to sort out issues regarding the use of privately owned land.

“The Big Legal Question in all of this is whether Texas Central has the right to take the property needed to build the railroad,” Adams writes in his latest article, “Courts, Trains, and Eminent Domain.” “The law calls this eminent domain.”

Eminent domain is the power of the government to take property for public use without the owner’s consent. In some cases, the government can grant that authority to private persons or corporations for projects that benefit the general public. The process of actually taking the property is called condemnation.

“This is how we get roads, sidewalks, water supply systems, pipelines, and electrical transmission systems,” Adams says. “But the landowner must be adequately paid for the property.”

Texas Central might claim to have eminent domain authority under two statutes of the Texas Transportation Code.

One provides that a “railroad company” may acquire property by condemnation if the property is required for certain purposes listed in the statute, such as right-of-way, a roadbed, or the construction and operation of tracks.

Texas Central claims to be performing some of the purposes listed in the statute, but landowners disagree.

“The landowners say that a company with no right-of-way, no tracks, and no trains—and not enough money to buy them—cannot possibly be operating a railroad,” Adams says. “If a person can’t buy a ticket and ride a train, they contend, it’s not a railroad, and it certainly isn’t ‘operating.’”

The other statute defines “interurban electric railway company” as a corporation chartered under Texas law to conduct and operate an electric railway between two municipalities in Texas. That section provides that such a company may exercise eminent domain powers the same as a railroad company, and may condemn to acquire right-of-way on which to construct and operate rail lines, as well as sites for depots and power plants.​​

To learn more, read Adams’ latest research article, “Courts, Trains, and Eminent Domain,” now online at https://www.recenter.tamu.edu/articles/tierra-grande/Courts-Trains-Eminent-Domain​​.

Funded primarily by Texas real estate licensee fees, the Real Estate Center was created by the state legislature in 1971 to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public. The Center is part of Mays Business School at Texas A&M University.
http://eepurl.com/cAgEmr07-0217
Real Estate Center chief economist: Fed interest rate increase could mean good news for some marketsReal Estate Center chief economist: Fed interest rate increase could mean good news for some markets2016-12-15T06:00:00Z​​​COLLEGE STATION, Tex. (Real Estate Center) – Real Estate Center Chief Economist Dr. James Gaines said the Federal Reserve’s increase in its key interest rate could have different — in some cases positive — impacts on different markets.

The increase, which was announced yesterday, raised the key interest rate by 0.25 percent to a range of 0.50 and 0.75 percent. Yesterday’s increase marks only the second in a decade, and the Fed said it expects three more rate increases in 2017.

“We could see some fallout in the housing market, but the immediate short-term impact on the housing market could be an increase in demand,” Gaines said. “People who are on the fence about buying a home might anticipate rates, as well as prices, going up in the next six to 12 months. This might give them the push they need to buy now.”

Gaines said mortgage interest rates have already gone up at least 40 basis points in just the last 30 or 40 days. The current reported 30-year, fixed-rate mortgage is about 4.3 percent. During the course of the past year, it had bottomed out at about 3.3 percent, so on a total basis it’s up about 100 basis points from its low point during the past year.

“We expect to see more,” he said. “The expectations in the market for the coming year are that interest rates will trend upward. At what rate, though, we’re not sure.”

Gaines said the rate increase could be “somewhat good news” for investors.

“People who count on interest return on investments and retirement savings and so forth have been getting virtually no interest at all on their savings for the past six or seven years,” he said. “In the coming year, they might see some slight increases in interest rates on things like bank savings rates and certificates, and deposits.”

On the other hand, Gaines said the increases may not be enough yet to make a big difference.

He said the other thing to consider is what the rate increase means in the global capital market.

“Our ten-year treasury is now bordering at 2.6 percent, which is a very appealing rate to other countries that might have invested funds or might have investible funds and capital to place somewhere,” he said. “It’s ironic that raising the rates could actually create demand for our bonds that should, theoretically, react to lowering the rates.”

The Fed last raised rates in December 2015.

Funded primarily by Texas real estate licensee fees, the Real Estate Center was created by the state legislature in 1971 to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public. The Center is part of Mays Business School at Texas A&M University.
http://eepurl.com/cucAaj06-1216
Boerne attorney, Andrews Realtor appointed to Center advisory committeeBoerne attorney, Andrews Realtor appointed to Center advisory committee2016-12-09T06:00:00Z

​COLLEGE STATION, Tex. (Real Estate Center) – Gov. Greg Abbott has appointed Elizabeth “Besa” Robison Martin of Boerne and Carliss A. “Alvin” Collins of Andrews to the advisory committee for the Real Estate Center at Texas A&M University. Warren D. "Doug" Jennings of Fort Worth was reappointed.

Martin, an attorney and owner of ER Martin LLC, specializes in estate planning, property management, and transactional operations. She succeeds Dallas attorney Kimberly Shambley as the advisory committee’s public representative.

Collins is a Realtor and president of Legacy Real Estate Brokerage in Midland. He succeeds Ronald Charles Wakefield as the committee's real estate finance representative.

Jennings has been a member of the advisory committee since February 2015. He represents commercial real estate and currently serves as vice chairman. He is a vice president and principal for William C. Jennings Company.

Terms for all three expire Jan. 31, 2021.

The advisory committee was created by a 1971 law establishing the Real Estate Center. It consists of ten members appointed by the governor. Six are real estate brokers licensed for at least five years. The brokers represent finance, improvements, residential properties, commercial properties, and industrial properties. Three members represent the public, and one is the ex-officio representing the Texas Real Estate Commission.

Funded primarily by Texas real estate licensee fees, the Real Estate Center was created by the state legislature to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public. The Center is part of Mays Business School at Texas A&M University.​

http://eepurl.com/csMrTL05-1216
Bryan-College Station attorney joins Real Estate Center staffBryan-College Station attorney joins Real Estate Center staff2016-10-27T05:00:00Z​COLLEGE STATION, Tex. (Real Estate Center) – Local attorney E.V. “Rusty” Adams III is the new legal expert for the Real Estate Center.

Adams received a Bachelor of Business Administration in Management in 1996 and a Master of Science in marketing in 1998, both from Texas A&M University. He graduated from Baylor Law School in 2004.

Since then, he’s practiced law in the Bryan-College Station area, most recently with the Peterson Law Group. He practiced general civil law, including real estate law.

Before coming to work for the Center, Adams wrote an article for Tierra Grande, the organization’s flagship magazine. “Sizing Up Surveys” was published in the July 2016 issue.

His research agenda with the Center includes an article on the general warranty deed, the most common deed used in real estate transactions. Other topics he’ll tackle are water rights, eminent domain, and commercial real estate law.

Adams’ predecessor, Judon Fambrough, retired last month after 39 years with the Center.

Funded primarily by Texas real estate licensee fees, the Real Estate Center was created by the state legislature in 1971 to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public. The Center is part of Mays Business School at Texas A&M University.
http://eepurl.com/clUq8504-1016