Sometimes you need to know about fixed-rate mortgages, flood insurance and Fannie Mae. And sometimes you just want the fun facts.
So for no other reason than it's just kind of interesting, here are fifteen fun real estate facts to liven up your Monday.
1. Home is where the heart (and equity) is: 61.4% of the average American family's net worth is in home equity.
2. A homeowner's net worth is over thirty times greater than that of a renter.
3. TGIF! The best day of the week to list your home is Friday.
4. Historically, the best month of the year to sell is April. Although we would dispute that -maybe it's the most common month, but often sellers fare better in the 'off months' of summer and winter.
5. Odds are you're going to need some help selling: Homeowners have a 120% better chance of selling their home when using REALTOR®.
6. In 2013, NAR reports that the median age of first-time buyers was 31. On average these buyers purchased a 1,670 square-foot home costing $170,000 (guess they don't live around here!).
7. The typical repeat buyer was 52 years old. On average these buyers purchased a 2,060-square foot home costing $240,000.
8. According to a NAR Community Preference Survey, 78% of respondents said that the neighborhood is more important to them than the size of the home.
9. 57% said they'd give up a home with a larger yard if they could have a shorter commute. (Commuting is one of Arlington's most attractive features to buyers)
10. NAR reports that 80% of home buyers believe their home is a good investment, 44 percent saying it's better than stocks.
11. Buyers searched a median of 12 weeks and visited 10 homes. If you live in Greater Boston, you know this is a much lower number on both fronts.
12. 90% of home buyers who used the Internet to search for a home purchased through a real estate agent.
13. 90% of buyers financed their purchase.
14. In Scotland, homeowners paint their front door red when they pay off their mortgage.
15. And finally, don't be so quick to change your brass to brushed nickel! Brass doorknobs disinfect themselves. It's called the oligodynamic effect: the ions in the metal have a toxic effect on spores, fungi, viruses, and other germs.
image via: kitzcorner, Dollarphotoclub
Sources:
National Association of Realtors
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