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Here are three fun facts that I wasn’t aware of until today:

 There’s a Secret Apartment at the Top of the Eiffel Tower

Eiffel Tower

Real Estate Fun Fact Ford Realty

As a part of his commission for the design and construction of the most famous Parisian landmark, Gustov Eiffel built and maintained ownership of a secret 1,000-square-foot apartment near the top of the Eiffel Tower.

French aristocrats, international VIPs, and even royalty frequently offered Eiffel over $1,000 (equivalent to over $25,000 today) for a chance to spend just one night in the most exclusive apartment in France, but he never rented the space to anyone.

The Mall of America Is Owned by a Canadian Real Estate Company

The Mall of America

When you think Americana, you think baseball, hotdogs, Monday night football games and I can go on …

But did you know

The Mall of America, quite possibly one of the most amazing and terrifying places in all the country (if you’re a guy), is actually owned by the Triple Five Group, a real estate conglomerate based in Edmonton, Alberta, Canada. 

Housewarming Parties

Burning Mortgage Paperwork

The mortgage is the backbone of the American real estate market. Without it, the Boston condo home owner rates in the would likely be in the single digits. Even though the current mortgage is far from perfect, it has come a long way since the early 1900s.

In the early days of the mortgage, interest rates were pretty high (sometimes up 15 or 20%), and the loans would often culminate with a “balloon payment” similar in size to a 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 evolved into what we now know as the housewarming party.

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Updated: Real Estate 2020

 

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