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Real Estate Trivia

Welcome > Resources > Trivia ...

Enjoy! 

We've added these real estate trivia questions for your enjoyment. And you might learn something new in the process! Have fun... 


Q 

Which islands are considered the largest islands in the US?

A  The Hawaiian Islands with 10,456 square miles are followed by Kodiak Island in Alaska at 9,510 square miles.

Q 

To what process do the terms closing, escrow, settlement and passing papers refer?

A  These terms, which vary in different parts of the country, describe the conclusion of a real estate sale.

Q 

What island was sold to Peter Minuit by the Indians for goods valued at 60 guilders ($24)?

A  Peter Minuit arrived with a group of Dutch settlers in 1626 and purchased what is now known as Manhattan.

Q 

Which home is #1 on the Top 10 list for most-visited Historic Home in the United States?

A  Graceland, the palatial home of Elvis Presley in Memphis, TN, attracts 600,000 visitors a year.

Q 

Which house over 100 years old still holds the title as the largest house in the U.S.?

A  The 250-room Biltmore House in Asheville, NC, built 1890-1895 at a cost of $4.4 million, is the largest house in the US.

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Real Estate Tips

Zoning Laws >Easements

Every property has some kind of easement--utility, water and sewer or driveway easements which give access to landlocked parcels. As a property owner, you may be affected by easements at some point.

The easement in gross is the most common type of easement used by public utilities. These easements are often under or above the ground, so they do not consist of actual land. If a utility gains the right to an easement in gross over your land, it must pay you for the diminishment in value of your property.

Easements by prescription become easements simply through unchallenged use by the landowner for a specified number of years (usually 10-20). To avoid such an occurrence, the landowner must periodically make a formal objection to "start the clock over".

The most familiar type of easement is easement appurtment that allows access to public roads and is used to create driveways and walkways for subdivided parcels. This type of easement should be treated by both landowners (and beneficiaries) as actual land parcels to be described and recorded meticulously.

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Real Estate Trivia

Q 
What does the term ARM stand for?

A 
An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market.
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Philadelphia Moves, REALTOR®, real estate agent and broker for Mt. Airy, Roxborough and Northwest Philadelphia, Pennsylvania home listings, property and land for sale - NUMBER1EXPERT

Louise D'Alessandro & Janice Manzi
Elfant Wissahickon Realtors

1511 Bethlehem Pike
Flourtown, PA. 19031
215-233-3434 x 514
215-852-9312
215-680-7616
Fax: 215-233-0903
Email: philadelphiamoves@NUMBER1EXPERT.com

We give our clients exactly what they need in real estate agents – insiders’ access to all available homes, expert negotiating skills, clear communication and thorough attention to detail....What initially attracts homebuyers to Northwest Philadelphia and the bordering communities in Montgomery County, are the unique stone houses, the extraordinary parkland, and the vibrant shopping and dining. What keeps them here are the vibrancy and the diversity of the people who live here....If you are looking to buy or sell in the communities of Chestnut Hill, Mt. Airy, Roxborough, East Falls, or Manayunk; or the bordering communities in Montgomery County, such as Springfield Township, Whitemarsh, Cheltenham, Flourtown, Erdenheim, Wyndmoor, or Oreland, contact Louise D'Alessandro and Janice Manzi. We can help you move your dreams forward.

Louise D'Alessandro - license# RB-044908-A
Janice Manzi - # RS-284974

Equal Housing MLS REALTOR SFR SRES


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