The Lighter Side of Real Estate
Our current real estate market is extremely competitive which often translates to stress. So today I though it may be good idea to take a look at the lighter side of real estate. Over the next few days I will be posting a list of several facts regarding real estate that many may not be aware of. These facts are none the less true and shows us the industry is not always as competitive and stressful. Join us as we count down 25 unusual facts.
#25 - The State of New York requires sellers to disclose if they think their home is haunted!
In a case heard by the New York Supreme Court, the decision requires sellers to sign a disclosure if they believe their home is haunted. Known as the Ghostbuster Ruling unsuspecting buyers should not be trapped in the transaction. Justice Israel Rubin ruled that the seller was required to disclose the hauntings, which he said would be tricky for potential buyers to discover. “Who you gonna call?” he asked.
#24 - The beginning of an empire.
Before becoming an actor and a politician, Arnold Schwarzenegger became a self-made millionaire by investing in real estate. Using the winnings from his Body Building competitions Arnold would invest in multifamily homes in his hometown. By the time Schwarzenegger was 22 he was officially a millionaire from his passive income.
#23- Forced to rethink Extreme Makeover: Home Edition.
You may have seen this show where a team of designers and construction workers converges on a home to completely renovate both interior, exterior, and landscaping. The home was then awarded to a deserving recipient. The problem arose when the property was taxed as a gift and in many cases, the home was repossessed for failure to pay property taxes.