POP QUIZ! Home Trivia!
Are you an HGTV addict?
Is house-hunting on Zillow one of your favorite hobbies?
Are you one of those who goes to open houses on weekends “just for fun”?
Then get ready to test your knowledge of home and housing market trivia! Scroll to the very bottom to check your answers!
1. In relation to the housing market, the term INVENTORY refers to…
a) The most recently sold properties in a given area.
b) The amount of homes currently for sale.
c) The number of homes currently in escrow.
2. When mortgage interest rates go up, it is likely that HOME PRICES may…
a) Go down.
b) Go up.
c) Stay the same.
3. WAINSCOTING refers to…
a) An exterior wall coating similar to stucco.
b) A type of wood paneling on interior walls.
c) A decorative grating that covers a window, door, or other opening.
4. When a home is being sold, these items are likely INCLUDED in the sale…
a) Appliances such as the washer, dryer, and refrigerator.
b) Chandeliers, window coverings, and garden ornaments.
c) Nothing that is not fixed or attached to the property can be presumed to be included.
5. When a home is referred to as being TURN-KEY, it is probably…
a) Ready to be moved into with no significant repairs or updating needed.
b) A fixer-upper that is ready for an investor to flip.
c) A home that will be easy to sell because it appeals to multiple demographics of buyers.
6. The acronym FSBO stands for…
a) Final Sale By Option
b) For Sale By Owner
c) For Sale By Octopus
7. In a real estate transaction, the acronym COE stands for…
a) Close of Escrow
b) Correction of Error
c) Cancellation of Escrow
8. If you want to FENG-SHUI your bedroom, you should…
a) Align your bed with the door.
b) Keep windows closed at all time.
c) Keep all doors closed at night.
Let’s see how you did! Scroll down for the answers!