8 Interesting Real Estate Facts That Investors Should Know

4 mn read

Real estate investing has long been one of the most successful strategies to get a high return on investment. Selling or purchasing a property, on the other hand, is not for the faint of heart and can be fraught with difficulties and hazards. It may be intellectually and emotionally tiring, as well as physically depleting. Despite this, the housing market provides practically limitless options, and property investors of all levels of expertise may profit handsomely if they use the appropriate investing tactics.

The real estate sector is continuously changing, developing with the times, and it has become more accessible as technology has levelled the playing field. By making property visits more comfortable and facilitating contacts with a larger audience, real estate virtual visits have radically transformed the dynamics of the industry.

Real estate investment is not a toy, and once you get into it, it becomes a real business. Nonetheless, there have been some pretty fascinating developments in the real estate industry that will make for some intriguing dinner table talk. Some are cold, hard truths, while others are a bit odd. Let’s get started!

1. The Hollywood Sign in Los Angeles was initially used to promote real estate sales.

The famous Hollywood sign built into the side of Mount Lee has gone through a few iterations over the years, but its original purpose was to promote the sale of homes and property that would provide “… a clean, healthy atmosphere and beautiful outlook of the (Hollywood) Hills,” according to the LA Times in 1923.

2. Money is not always King

Money is not everything. When financing purchasers are competing against cash purchasers, they might make their offer appear highly desirable in a variety of ways to outshine the cash buyer. First, they must ensure that their offer is free of faults and that it is genuine and thorough. They’ll then want to double-check that their pre-approval letter suggests a solid capacity to obtain a mortgage to purchase the seller’s house. Furthermore, there are several time ranges in a real estate acquisition deal. Buyers may rest assured that they will adhere to strict deadlines.

3. The tradition of housewarming came from burning mortgage paperwork

Despite the fact that today’s mortgage is far from ideal, it has gone a long way from its inception in the early 1900s. Interest rates were high in the early days of the mortgage, and loans would frequently end with a “balloon payment” that was equivalent in size to a down payment. Paying off a mortgage became even more significant as a result, and homeowners would throw a great celebration and burn their mortgage records to commemorate the accomplishment.

4. Agents aren’t required to show you houses

Agents are not obligated to show you houses that are of particular interest to you. They are not required to show you anything they have. They may try to direct you toward properties that better suit their needs, such as those that are simpler to sell or have been on the market for a long time. They have the ability to choose what they broadcast. If you’ve signed a contract with the agent, you may choose which houses you’d want to visit.

5. In Scotland, less than 500 people own more than half of the land

Much of Scotland’s privately owned land is owned by a small number of people who could all fit aboard a Boeing 747. This has a lot to do with Scotland’s early sociological caste structure, in which the high-born Lords held much of the land and the low-born laboured on it (and paid taxes to the owners). Remember, that 67 per cent of Scotland’s acreage is utilised for animal grazing, another 17 per cent for forest and forestry, and 9 per cent for cultivating crops, making private ownership of standard residential plots uncommon.

6. If your home is priced correctly, it will sell

Your home should be priced to sell. You will draw the most eligible and interested purchasers from the first day you put your house for sale. A new house listing shines brightest in the first several weeks. A new listing attracts the attention of buyers who have been waiting for a new house to come on the market, as well as purchasers who have just begun their search and will break down your front door to take a closer look.

7. Hitler owned a home in the Pacific Palisades, not far from Malibu

Hitler acquired a piece of property and a little residence on the outskirts of Malibu in the Pacific Palisades through a series of corporations. The property was acquired as a “refuge and retreat” for Hitler’s American allies, but historians think it was also intended to be a West Coast getaway for Hitler himself if and when a victorious ground invasion of America approached the West Coast. The land has now been converted into a nature preserve and hiking area, and as you can expect, there are mixed opinions regarding what to do with the physical structure.

8. It is inconvenient to sell a home

Knowing ahead of time that you’ll be inconvenienced after you’ve decided to sell your property can help the process go much more smoothly. You’ll have to prepare your property for sale, do some packing, and your typical daily routines will most certainly be disrupted by visits from potential buyers. When you can anticipate this, the procedure becomes a lot less unpleasant.

While some of these statistics are amusing, the few hard truths will certainly make you think if you’re considering investing in real estate at some time. It’s worth repeating that real estate investments aren’t easy – physically, emotionally, or mentally – and that understanding the market is essential to understanding this complex sector.

Virtual site visits enable you to accomplish precisely that, thanks to technological advancements. They are comprehensive, intelligent, and educational, and they provide buyers and sellers with an immersive experience. Virtual real estate tours have never been simpler thanks to smartphone apps like Proxgy, which employ 360-degree camera technology via smart helmets.

Users may access their chosen homes with a single click of a button using the Proxgy app. Simply log in to the Proxgy user app, select Proxgy for Real Estate, and you’re ready to go! Your virtual assistant will be with you every step of the way, guiding you as you explore the property at your leisure.

Book your Proxgy now!

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