REAL ESTATE TRIVIA
What is considered the world's tallest building?
- The 185-story CN Tower in Toronto, Canada is the world's tallest free-standing building, rising to 1,815 feet.
Where can you find the world's largest residential palace?
- The Istana Nurul Iman, palace of the Sultan of Brunei, includes 2,152,782 square feet, 1,788 rooms, 257 bathrooms and a 110-car garage.
What are the three most common environmental toxins for which homes are tested?
- Mold, asbestos, and lead are tested by specialized inspectors as a regular part of many real estate contracts.
What is considered one of the key elements of the American dream?
- Home ownership is considered to a key to the American dream; more than 2 million first-time buyers bought property last year.
What area in the United States has the highest per capita income?
- The New York/New Jersey/Long Island area has a per capita income of over $750,000, according to the most current available U.S. census data.
What does the term ARM stand for?
- An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market.
What is the most common name for a city in the United States?
- Fairview is the most common city name, according to the 1996 Top Ten of Everything Book.
What is the average price for a home in the United States?
- According to the NAR, the national median price for existing single-family homes was $218,000 in October, 2005.
Which famous home designed by Thomas Jefferson showed forms of Greek and Roman architecture?
- Monticello, begun in 1769, was later enlarged in keeping with its classical forms.
What four states in the Southwest are noted for having boundaries that touch.
- New Mexico, Arizona, Utah and Colorado, referred to as the "Four Corners", have adjoining boundaries.
What is encroachment, and how might it affect a property owner?
- Encroachment, refers to the unauthorized intrusion of a building or improvement onto another person's property; it often requires a surveyor's report to support the claim.
What is the world's tallest monument?
- The stainless steel Gateway Arch in St. Louis, MO, designed by architect Eero Saarinen and costing $29 million to build, is 630 feet high.
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