The Bains

This landmark legislation to protect your home & land is now on its way to the Texas House of Representatives & has several who will push for passage. Many supporters, but there are opponents. Prohibits a governmental or private entity from taking private property through use of eminent domain if the taking is not for a public use. Public meetings & recording of votes must take place. Strict guidelines to demonstrate a bona fide offer for purchase is made to the landowner before the condemnation process begins. Owners or heirs can buy-back the lands at price paid earlier if after 10 years condemnation is no accomplished. Other provisions to protect the landowner. All this complements the overwhelming voted approved 2009 constitutional amendment. Todd Staples, from Palestine and the TX Commissioner of Agriculture, has spear-headed this drive.

Up 22% over January 2010, according to a report released by Realty Trac. TX had 14,897 forclosure filings last month & represents about ONE in every 653 HOMES. Harris County had the bulk. At the national level, foreclosure filings increased 17% over the year for ONE in every 497 HOUSING UNITS.

For those who wish to live in “interesting times,” the past 10 yrs have been a dream come true. The 1st secade of the new millennium produced the highest economic hights & the lowest economic lows the coutnry has seen in more than 70 years. The swings are so broad that in many key aspects the decade ended about where it began. With all these trials, this period may go down in economic history as the “Lost Decade” according to Dr. James Gaines a research economist with the Real Estate Center at Texas A&M U. The roller coaster ride is not over yet, but the large inventory of available properties needs to be sold, which may take 1.5 to 3 years.

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