Wednesday, April 14, 2010

Real Estate Trivia Every Newbie Ought to Know

Q: What is the least affordable metropolitan housing market in the United States?

A : California's Los Angeles-Long Beach-Glendale is currently rated as the most expensive metro area in the nation.
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Q: What holds the title as the tallest reinforced concrete building in the U.S.?

A: 311 South Wacker Drive in Chicago was completed in 1990 and is 65 stories high.
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Q: What are three of the best indicators of real estate market trends?

A: Existing home sales, new home building and mortgage interest rates.
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Q: What three things are necessary in order to purchase a home?

A: Some cash, a dependable income and good credit. If you fall short, don't despair--homeownership may still be possible.
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Q: What is a VA home loan?

A: The Office of Veterans Affairs guarantees small or no-down payment mortgage loans made by lenders to U.S. veterans.


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