Here are some fun Real Estate Trivia Questions for your Enjoyment, and you might learn something in the process! Have Fun…

Q.   According to Feng Shui, the art of Home Placement, what five elements are needed in a Harmonious Environment?

A.   Wood, fire, earth, metal and water must be balanced to create a Happy, Prosperous Home.

Q.   Originally incorporated under the name Georgian, what is the oldest incorporated city in the United States?

A.   York, Main, which received an English charter in March 1642, is the oldest incorporated city in the United States.

Q.   Where was the Great Land Boom (1919) in which investors paid up to $25,000 for lots not yet dredged up from the ocean?

A.   The Great Florida Land Boom brought hundreds of investors to the State after Carl Fisher founded Miami Beach in 1919.

Q.   What did 75% of 10,000 Home Buyers surveyed by the NAR (National  Association of Realtors) list as their top reasons for selecting a Real Estate Professional?

A.   Being knowledgeable in the housing market, knowledge of Real Estate Practices and Financing, as well as familiarity with Neighborhoods.

Q.    What does the abbreviation of PITI Stand for?

A.    Principal, Interest, Taxes and Insurance are the four major items included in a monthly mortgage payment.

Q.    What is arguably the world’s strangest (and most dysfunctional) kitchen?

A.   In 1998 the Kemper Museum of Contemporary Art in Kansas City first displayed a kitchen made entirely of 40 million colored glass beads by artist Liza Lou of Topanga, California.

Q.   What acclaimed House built of Stone, Concrete, and Glass is built over a Waterfall?

A.   Fallingwater in Mill Run, PA, built by architect Frank Lloyd Wright, is one of the most-visited homes in the U.S.

Q.   What is considered one of the Great U.S. construction projects that was also of great strategic importance to the U.S.?

A.   The Panama Canal, begun in 1904 and completed in August of 1914, which cost $366,650.00

Q.   What House is considered to be the First House with Running Water in America?      

A.   John Headly’s home built in Newport, RI in 1723, was equipped with an underground pipe from the nearby spring.

Q.   Which U.S. hotel has more Fountains than any other Hotel in the World?

A.   The Bellagio Hotel in Las Vegas, Nevada has more than 1,000 fountains embellishing an 11+ acre artificial Lake.

Q.  The upper walls of what famous Holy Temple are lined with Gold?

A.   The Golden Temple in Amritsar, India is the most sacred temple and spiritual center of the Sikhs.

Q.   What is a Smart Home?

A.   A “Smart Home” is equipped with structured home wiring packages  that control the Home’s systems via networked technologies.

Q.   What oceanfront area is currently the most popular choice among people searching for second homes and vacation homes?

A.   According to statistic published early in 2005, the Florida Coast is the most sought-after vacation and retirement destination in the United States.

Q.   In what Real Estate Market is more than 90 percent of Home Sales  are cash transactions?

A.   Palm Beach, home to Princes, Politicians, and CEOs, has homes from 2,000 square feet condos to 56,000 square feet estate homes.

Q.   What is the Legal Term that is used to describe the right of the U.S. Government to condemn private land for public use?

A.   Right of “Eminent Domain” allows the government to confiscate private land by paying full market value for the property.

Q.  Whose Mansion sold for about $2 Million Dollars after just one day on the Market?

A.  Soon after the death of Actor George Burns his Home was put on the Market; the Home sold in 24 Hours.

Q.   What was the first territorial acquisition made by the U.S. Government?

A.   The Louisana Purchase from France in 1803 for $15,000 increased U.S. National Territory by 140%.

Q.  What was the longest distance a building has ever been moved?

A.   Detroit’s five story Gem Theater, built in 1927, was moved 1,850 feet (5blocks) to make way for two new Sports Stadiums.

Q.   Which City in the U.S. has the longest formal name, but the shortest abbreviated name?

A.   El Pueblo de Nuestra Senora la Reina de los Angeles de la Porciuncula is the full name for Los Angeles, known as “LA’

Q.    What areas are known as the “Silk Stocking” districts of this Famous City?

A.    In Central Park West, Fifth Avenue and Park Avenue in Manhattan, apartments go for $222,610  to $282,709 per room.

Q.   Due to low business and living expenses, what areas are considered to be the fastest growing in the country?

A.   According to recent studies, the Southern and Western regions of the U.S. are among the Nation’s strongest economies.

Q.   What document must lenders provide within three days of receiving your application for financing?

A.   The “Truth in Lending Disclosure Statement” will give you complete financial information about the loan.

Q.   What is considered to be one of the soundest long-term investments?

A.   Real Estate has a long term record of Strong Investment Return and is a Driving Force on the National Ecomony.

Q.   What Private Residence is considered the Most Expensive House ever built?

A.   The William Randolph Hearst Ranch in San Simeon, California cost over $30 million equivalent today to $276,883,320.  Bill Gates recently built a Home for over $40 Million

Q.   What is the Maximum interest you can deduct on your federal tax  returns to purchase or improve a first or second home?

A.   One of the greatest benefits of Home Ownership is the Federal Tax deduction for interest up to, but not exceeding, $1 million dollars.

Q.   What area was designed to look like a 1940’s southeastern town with traditional architecture?

A.   Disney’s “Celebration” in Orlando, Florida, will eventually have 8,000 houses and many commercial tourist attractions.

Q.   Which law allows a person to give another individual up to $10,000 a year without any tax consequences?

A.   The Federal Gift Tax Law allows both parents to give a child (or anyone) $10,000 each in one year.

Q.   What are considered the ideal conditions for a Buyer’s Market?

A.   In a Buyer’s Market, there are more Houses for sale than Buyers, Homes take longer to sell, and Sellers may have to cut prices.

Q.   What are considered the Ideal conditions for a Seller’s Market?

A.   In a Seller’s Market, prices are firm and good houses are sold before advertised or as soon as they show up in the MLS.

Q.   What 45,000 square feet home located on 5 Acres on Lake Washington is described as an “Adventurous House” by its Owner?

A.   The Home of Microsoft’s Bill Gates ($40+ Million) has a wall of 24 Video Monitors featuring art and film and a 60 foot pool.

Q.   What Land did the U.W. Government buy for 7.2 Million?

A.   In March 1867, the US bought all of Russian America (Alaska)from Russia.

Q.   What five basic components of a “Smart Home” can be controlled by technology?

A.   Lighting and Window Treatments, Security and Access control, Data Communication,  Environmental/energy management, and audio/video entertainment can all be operated by a “Smart Home”

Q.   What U.S. State is home to the World’s richest Woman?

A.   Alice Walton, Daughter of Walmart’s founder and heiress to 16.5 Billion, lives on a ranch in the State of Texas.

Q.   What is considered one of the slimmest buildings ever designed?

A.   The Carnegie Hall Tower, designed by Cesar Pelli, is only 50 feet wide and 60 stories high.

Q.    At the doors of what famous temple do you find yourself when you climb the “Stairway to Heaven”?

A.    The Temple of Heaven in Beijing, China, attracts the Local Faithful and Tourists.

Q.     What criteria determine the Hottest Real Estate Markets?

A.   Job/Personal Income Growth; Population/Household Growth; Housing Affordability/Appreciation; and current inventory of Homes for sale.

Q.   What Celebrity Home sold recently for a reportedly $5.5 Million Dollars, despite the fact is was Yellow with Rust Color Stripes for a Paint Job.

A.   This Hollywood Hills Resident was the former Home of the Popular Singer, Madonna.

Q.   What does the common Acronym ~FSBO~ (Pronouced Fizzbo) stand for?

A.   For Sale By Owner. (Between 85 to 95% of all existing Homes are sold by a Realtor)