facts

5 Amazing Real Estate Facts

Real estate can be a pretty crazy industry! Check out these real estate facts that just might surprise you.

Did you know Warren Buffet doesn’t like moving?

Billionaire Warren Buffet still resides in the Omaha, Nebraska home where he was raised. He bought the home for just 31,500 dollars in 1958 (worth 250,000 dollars in today’s money), and the home is now estimated at 700,000 dollars.

Did you know the barter system isn’t dead?

A Canadian man once started with a red paperclip, and traded and bartered all the way until he had a house! As unbelievable as it seems, the story is true, and it only took the man 14 trades to get his house.

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Did you know there are ghosts in the NY inspection process?

In the state of New York, a seller must disclose if their property is haunted by ghosts if it is under inspection. This legal requirement stems from a 1991 court case fondly known as “The Ghostbusters Ruling.”

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Did you know the White House has a hypothetical price tag?

The White House has been valued at 110 million dollars. However, this value is simply the value of the property itself, and does not take into account the millions (or hundreds of millions) the house is worth in historical value.

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Did you know foreclosures used to be more prevalent that marriage?

In 2009, there were more foreclosures in America than marriages. In the first year after the severe economic downturn in 2008, there were a record number of foreclosures, which were higher than the total number of marriages by a little less than 700,000.

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