Personal home pageGeography 5361 Geography and Real Estate

I own a house in West St. Paul

I own a house in West St. Paul

I possess fee title to a house – a residential structure – at 979, Ohio St. West St. Paul, Dakota County, Minnesota

I own a house in West St. Paul

I possess fee title to a house – a residential structure – at 979, Ohio St. West St. Paul, Dakota County, Minnesota

I purchased the house for $216,000 on Nov. 11 2011I put down $20,000 and borrowed $190,000 from Bell Mortgage Co. for 30 years with a

4.0% interest rate

I own a house in West St. Paul

I possess fee title to a house – a residential structure – at 979, Ohio St. West St. Paul, Dakota County, Minnesota

I purchased the house for $216,000 on Nov. 11 2011I put down $20,000 and borrowed $190,000 from Bell Mortgage Co. for 30 years with a

4.0% interest rateI acquired title from a married couple – who owned the house as joint tenants – with a

warranty deed

I own a house in West St. Paul

I possess fee title to a house – a residential structure – at 979, Ohio St. West St. Paul, Dakota County, Minnesota

I purchased the house for $216,000 on Nov. 11 2011I put down $20,000 and borrowed $190,000 from Bell Mortgage Co. for 30 years with a

4.0% interest rateI acquired title from a married couple – who owned the house as joint tenants – with a

warranty deedBell Mortgage Co. sold the mortgage to U.S. Bank in 2012I pay $1,120/month (PITI) to U.S. Bank (Principal, interest, taxes, insurance)I have a home equity line of credit with U.S. Bank for $25,000, interest only, for 10

years

I own a house in West St. Paul

I possess fee title to a house – a residential structure – at 979, Ohio St. West St. Paul, Dakota County, Minnesota

I purchased the house for $216,000 on Nov. 11 2011I put down $20,000 and borrowed $190,000 from Bell Mortgage Co. for 30 years with a

4.0% interest rateI acquired title from a married couple – who owned the house as joint tenants – with a

warranty deedBell Mortgage Co. sold the mortgage to U.S. Bank in 2012I pay $1,120/month (PITI) to U.S. Bank (Principal, interest, taxes, insurance)I have a home equity line of credit with U.S. Bank for $25,000, interest only, for 10

years

I have service from St. Paul Water Utilities, Xcel Energy, Direct TV

I own a house in West St. Paul

I possess fee title to a house – a residential structure – at 979, Ohio St. West St. Paul, Dakota County, Minnesota

I purchased the house for $216,000 on Nov. 11 2011I put down $20,000 and borrowed $190,000 from Bell Mortgage Co. for 30 years with a

4.0% interest rateI acquired title from a married couple – who owned the house as joint tenants – with a

warranty deedBell Mortgage Co. sold the mortgage to U.S. Bank in 2012I pay $1,120/month (PITI) to U.S. Bank (Principal, interest, taxes, insurance)I have a home equity line of credit with U.S. Bank for $25,000, interest only, for 10

years

I have service from St. Paul Water Utilities, Xcel Energy, Direct TV

979 Ohio St. West St. Paul

Legal description – boundaries and location related to the plat

“Lots 5 & 6 except the northerly 8 ft. of C. Johnson’s Addition to the City of West St. Paul”

Dakota County Home & Property

Ramsey County Property and Tax Information

Hennepin County Property Information Search

How I behave on my real property depends on the nature of my real property rights defined by state and federal law

My choices are framed by law • some of which concern the real property rights I possess•some of which concern the personal property rights I possess – income, age, “life style”

Real Estate

Like most terms a hodgepodge of meanings – depends on context – contingent

Real Estate

Like most terms a hodgepodge of meanings – depends on context – contingent • Real property – as opposed to personal property

Real Estate

Like most terms a hodgepodge of meanings – depends on context – contingent • Real property – as opposed to personal property• Estate – An amount of land• Estate – A collection (bundle) of legal rights over land – to use, to convey (sell)

Real Estate – Land and Buildings

Real Estate

Like most terms a hodgepodge of meanings – depends on context – contingent • Real property – as opposed to personal property• Estate – An amount of land• Estate – A collection (bundle) of legal rights over land – to use, to convey (sell)

Real Estate – Land and Buildings

Real Estate Licensing (Minnesota Department of Commerce)• 90 hours of approved real estate education • apply for a license with a broker to the Department of Commerce Course 1 (Kaplan Real Estate Education)

Some Gross Statistics

United States households – have $9.6 trillion or 16% of their wealth in real estate; farmers have another $1.3 trillion of equity in their farms

Some Gross Statistics

United States households – have $9.6 trillion or 16% of their wealth in real estate; farmers have another $1.3 trillion of equity in their farms

Total household wealth in real estate nearly 20% of household assets

Some Gross Statistics

United States households – have $9.6 trillion or 16% of their wealth in real estate; farmers have another $1.3 trillion of equity in their farms

Total household wealth in real estate nearly 20% of household assets

In the United States 79% of residents live in urban areas

Some Gross Statistics

United States households – have $9.6 trillion or 16% of their wealth in real estate; farmers have another $1.3 trillion of equity in their farms

Total household wealth in real estate nearly 20% of household assets

In the United States 79% of residents live in urban areas

The World Bank estimates that real property values account for between one-half and three-quarters of wealth in most economies

Housing Finance

Foreclosure Crisis (ProPublica)

The State of the Nation’s Housing 2011 (Joint Center for Housing Studies Harvard University June 2011)The Housing Finance Revolution (Federal Reserve Bank, Kansas City Aug. 2007)Report on the Troubled Asset Relief Program (Congressional Budget Office Oct. 2012)Promoting Homeownership in the United States: The Rise and Fall of Fannie Mae and Freddie Mac (Kelsie Brandlee, April 2011)

The Office of the Special Inspector General for the Troubled Asset Relief Program

Consumer Financial Protection Bureau

My Interests – as a Geographer

My intellectual interests are descriptive, attempting to document how the U.S. landscapes has evolved by focusing on the institutional forces that provide the framework for virtually all human behaviors – especially those that produce “material culture”

My Interests – as a Geographer

My intellectual interests are descriptive, attempting to document how the U.S. landscapes has evolved by focusing on the institutional forces that provide the framework for virtually all human behaviors – especially those that produce “material culture”

A curious journalist

My Interests – as a Geographer

How the United States has organized space and behaviors

My Interests – as a Geographer

How the United States has organized space and behaviorsHow legal entities - individuals, corporations, governments in the United States

•acquire and possess the legal right to use the land surface, and

My Interests – as a Geographer

How the United States has organized space and behaviorsHow legal entities - individuals, corporations, governments in the United States

•acquire and possess the legal right to use the land surface, and•exercise those rights to produce goods and provide services, and

My Interests – as a Geographer

How the United States has organized space and behaviorsHow legal entities - individuals, corporations, governments in the United States

•acquire and possess the legal right to use the land surface, and•exercise those rights to produce goods and provide services, and •thus create landscapes – the visible effects of human behavior, and

My Interests – as a Geographer

How the United States has organized space and behaviorsHow legal entities - individuals, corporations, governments in the United States

•acquire and possess the legal right to use the land surface, and•exercise those rights to produce goods and provide services, and •thus create landscapes – the visible effects of human behavior, and•convey all or some of those rights to other entities

The 2012 Statistical Abstract (U.S. Census Bureau)

Organization of Space

Organization of Behavior

Landscape

The Nature of Landscape

Organization of Space

Organization of Behavior

LawPublic Policy Landscape

The Nature of Landscape

Organization of Space

Organization of Behavior

LawPublic Policy Landscape

The Nature of Landscape

GoodsServiceArtifacts

LegislationRegulation

Judicial Opinions

Organization of Space

Organization of Behavior

LawPublic Policy Landscape

Evaluation

The Nature of Landscape

GoodsServiceArtifacts

LegislationRegulation

Judicial Opinions

Economic indicators

The Text for Landscape

(A)ny landscape is an artifact - an object made by man. Its condition, rightly seen, reveals a society's culture as directly as does a novel or a newspaper or a Fourth of July oration because today's environment, the "natural part included, is synthetic (Roderick Nash The American Environment: Readings in the History of Conservation, 1968 ix)

A Text for Landscape

(A)ny landscape is an artifact - an object made by man. Its condition, rightly seen, reveals a society's culture as directly as does a novel or a newspaper or a Fourth of July oration because today's environment, the "natural part included, is synthetic (Roderick Nash The American Environment: Readings in the History of Conservation, 1968 ix)

Our human landscape is our unwitting autobiography, reflecting our tastes, or aspirations, and even our fears, in tangible, visible form.... All our cultural warts and blemishes are there, and our glories too; but above all, our ordinary day-to-day qualities are exhibited for anybody who wants to find them and knows how to look for them (Peirce Lewis "Axioms for reading the landscape, some Guides to the American Scene" in Donald Meinig (ed) Interpretations of Ordinary Landscapes (New York, Oxford University Press, 1979 23)

Goods, Services, Artifacts

Space organized by Government Units

Space organized by Ownership Units

Modern Half–Section Map (S1/2 Section 31 T 28 N R 22 W)320 acres

A recorded plat

The Organization of Space –The Nature of Place

Each place, and what we call it depends on the scale of observation, possesses

•Boundaries – spatial extent – horizontal – vertical

•Location – relative or absolute

Temporal Boundaries?

The Organization of Space –The Nature of Place

Governments - generally organized spatially

• Horizontally – boundaries• Vertically – sovereignty in air space

The Organization of Space –The Nature of Place

Governments - generally organized spatially

• Horizontally – boundaries• Vertically – sovereignty in air space

Historical TrendIncreasing number Decreasing size

The Organization of Space –The Nature of Place

Real Estate

Organized spatially

• Horizontally – boundaries • Vertically – buildable air space

Organized temporally – time share, lease

The Organization of Space –The Nature of Place

Real Estate

Organized spatially

• Horizontally – boundaries • Vertically – buildable air space

Organized temporally – time share, lease

Historical TrendIncreasing number Decreasing size

Source for Real Estate Information

Relevant Newspapers

Minneapolis Star TribuneSt Paul Pioneer PressMinnesota Public RadioLillie Suburban NewspapersSouthwest NewspapersMinnesota Real Estate JournalFinance & CommerceSouthwest JournalDowntown JournalMinneapolis St Paul Business Journal Probate & Property Magazine (American

Bar Association)

Accessing relevant material- Star Tribune

Use key words

<Real estate><Housing><Housing><Commercial><Housing><Foreclosure> <Housing><Senior Housing>

Use journalist’s name Neal St. Anthony Chris Farrell Dennis AndersonKenneth HarneyTownhouse boom fizzles (Susan Feyder)Twin Cities experts expect strong 2013 real estate market (Don Jacobson)Southdale shopping for rejuvenation (Jim Buchta)Suburbia is sprouting in the open fields of Medina (Tom Meersman)Washington County adds more land to its Legacy wish list (Kevin Giles)

Minnesota Public Radio (Archives date back to 1972)

Use key words

<Real estate>

Use journalist’s name

Some worried jump in farmland price could be next real estate bubble (Mar Steil)Investigation uncovers real estate kickback scheme (Dan Olson)Immigrants increasingly important in real estate market (Andrew Heig)Minnesota mining lease offer draws three bidders (Stephanie Hemphill)