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Surprising Real Estate Facts

Some might consider the world of real estate to be a bit boring. Obviously, we disagree. It is our passion and nothing compares to finding a family the perfect home for them. Let’s make things interesting! Check out these surprising real estate facts that you probably didn’t know:

In the U.S. there are five times as many vacant houses as there are homeless people.
This is crazy! Quite a few of these vacancies can be attributed to the 2008 Housing Crisis, but not all of them! If only we could implement programs to bring these two together… which brings us to our next fact.

Utah has been giving free homes to the homeless since 2005.
The Housing First program has cut chronic homelessness by 91%!

The White House is worth $397.9 million.
This is according to US-based real-estate listings firm Zillow, who calculated the price in 2017. For comparison, the Windermere Estate is Minnesota’s most expensive property for sale, listed at $15 million, and it’s on its own private island!

The Seattle Kingdome was so expensive that it wasn’t paid off until 2015, fifteen years after it had been demolished.
Construction began in 1972 and cost about $67 million. The Kingdome was the home of the Seahawks, the Mariners, the SuperSonics, and the Sounders.

There is enough water in Lake Superior to flood all of North and South America to a depth of one foot.
How crazy is that!?

In Scotland, homeowners paint the front doors red when they finish paying off their mortgage.
It’s a sign of pride and apparently signifies being “out of the red.”

In Japan, most homes depreciate in value.
50% of all homes are demolished within 38 years, leaving virtually no market for pre-owned homes.

The Burj Khalifa in Dubai is so tall that you can actually watch the sunset twice on the same day.
You could watch the sunset first from the base of the tower or one of the bottom floors, then take an elevator to the top and watch the sunset all over again. It is far and away the tallest building in the world at 2,716.5 feet.

Warren Buffet is one of the richest people on the planet but he still lives in the home he bought in 1958 for $31,500.
There’s no place like home!

Wasn’t that fun and interesting? We had a blast!

As proud members of the esteemed, small-knit Eden Prairie small business community, we are active participants in everything our area has to offer. Since 1995, we’ve been committed to earning the trust of our community. With over 4,500 homes sold in our region, we have the knowledge and experience you need when you are looking to list or buy a home in Eden Prairie. Give us a call today and experience for yourself how we became the #1 sales team in Eden Prairie.