If you’re thinking of getting into real estate, it can help to approach it in a way that is fun rather than like homework. Taking a look at some interesting real estate facts, with no particular eye to “making money” right away can help you to do this. This can lead you to take an interest in the topic that will help you to be in a successful mind set. With this in mind, the following are some fun facts about real estate.
The Best Market Indicators
Often people wonder what the best indicators of the real estate market are. This helps them determine whether or not to buy or sell. What are known as market indicators are just that – indicators that tell what kind of real estate market you are dealing with. The best indicators tend to be mortgage interest rates, the sales of houses in the area that have already occurred, and the amount of new houses being built in the area. Mortgage interest rates indicate how easy it is to borrow money and purchase a house, the existing sales show how quickly and easily houses are selling, and new construction also demonstrates how well houses are selling in the area – builders want to build where houses will sell quickly and fetch high prices.
Earthquake Resistant Houses
In earthquake prone areas such as California, certain houses withstand earthquake activity better than others. Oddly one of the best earthquake resistant construction types is straw bale construction. This is a construction technique that involves creating walls out of bales of straw and usually stuccoing over them. These are actually quite resilient to earthquakes due to their relatively flexibility. This can make them a good investment in these areas.
Novelty Houses are a Risky Investment
Novelty houses are ones constructed in all kinds of strange shapes and colors. Someone might, for instance, build a house shaped like a guitar, like a beer can, or imitating some exotic construction from another country. While someone undertaking to build and sell such a house might think they will be easy to sell, this may not be the case. The thing to bear in mind is that only a select group of buyers are interested in this type of house.
California has the Most Expensive Real Estate Markets
According to a report Coldwell Banker Real Estate released this summer, 6 of the top 10 most expensive real estate markets in the country are located in the sunshine state. These include, order of most to least expensive: Newport Beach, Pacific Palisades, Rancho Palos Verdes, Saratoga, Los Gatos, and Cupertino. Newport Beach has the most expensive real estate in the country, with an average house price of $2,537,126.
The Most Elaborate Victorians
Victorian architecture is famous for being elaborate and ornate. The most ornate type of Victorian architecture is known as Queen Anne architecture. It often has fairly extensive and stylish exterior ornamentation. This and other design elements give it a particularly artistic, pretty, and romantic feel.
Hopefully you have enjoyed these real estate facts. Get into real estate if it interests you. And remember one thing if you do: have fun with it!
In the future fun facts piece I will write about realty marketing and more. So look forward for that piece.