6 Strange Real Estate Facts That Are Actually True

Need a quick break from your crazy work schedule? Looking for some conversation starters? Check out these strange but true real estate related facts.

The Smallest House in Great Britain Is Just 6 Foot Wide

Located in Conwy, Wales, the smallest house in Great Britain is known as the Quay House. It was built in the 16th century and, despite its size, was home to numerous families throughout the generations.

The most recent occupant was a fisherman named Robert Jones, who bought it in 1891 for £20 (about $27). He lived there happily for many years, despite being 6’ 3” tall.

Eagles Symbolized Freedom From Monthly Payments

There are many ways that homeowners used to celebrate the full payment of their mortgage, including the “house warming” explained below. But one of the more popular (and deeply American) ways was to put a cast iron eagle on the outside of a home. This announced to the world that the house was owned free and clear and that the owner was free from mortgage payments!

Hollywood Was Originally a Real Estate Promotion

The iconic Hollywood sign built into the side of Mount Lee has gone through a couple of iterations over the years, but the original intent of the sign was to promote the sale of homes and property.

According to the L.A. Times in 1923, the area would provide “… a clean, healthful atmosphere and beautiful outlook of the (Hollywood) Hills.” Hollywoodland was said to be “above the turmoil of the city,” and “the supreme achievement in community building.”

House Warmings Come From Burning Mortgage Docs

In the early days of the mortgage, interest rates were pretty high (sometimes up to 15% or 20%), and the loans would often culminate with a “balloon payment,” similar in size to today’s down payment. This made paying off a mortgage an even more momentous occasion, and homeowners would celebrate by throwing a big party and burning their mortgage documents.

Guests would bring gifts to help commemorate the home being owned free and clear, and this tradition has since evolved into what we now know as the housewarming party.

You Can Now Buy Real Estate in the Metaverse

Looking for another way to build your wealth portfolio? You might consider investing in virtual land. Yes, you can own real estate in the metaverse. For those brave enough to explore a strange, less-touchable, new world, building a virtual portfolio may be the next big thing.

Ironically, virtual land has a lot in common with real life real estate—it’s unique and in limited supply, you can use it to build leasable properties that generate income, and you can sell it and make a profit using non-fungible tokens (NFTs) that secure your ownership of any assets in the virtual world.

Sellers in New York Have To Disclose If Their Property Is Haunted

In a case that made it all the way to the New York State Supreme Court, the decision from Stambovsky v. Ackley compels sellers of real property in New York State to sign a separate disclosure if they do, in fact, believe their property is haunted.