As we enjoy our freedom this weekend, I thought a fun real estate quiz to test your real estate knowledge would be in order.

Happy Jamboree Days weekend and 4^th of July.

Your Neighborhood Realtor, Rosemarie Labadie CA DRE #01240715

1. Who owns the most land in the United States? In the world?
2. Who is Fannie Mae?
3. What was the first year a woman could buy a home without her father or husband?
4. What is an ADU?
5. When was drywall invented?
6. When did property tax begin in California?
7. What is Proposition 13?
8. What is the only federally mandated home seller disclosure?
9. What is more popular, gas or electric stoves?
10. How many homes in California still have landlines?

Answers

1. In the USA, The Emmerson family owns 2.4 million acres, mostly timber land in Northen California. In the world, King Charles and the royal family own 6,750,000,000 acres of land.

2. Fannie Mae is not a person. It’s an acronym and stands for Federal National Mortgage Association. It was created by Congress in 1938 to help ensure affordable mortgages and provides liquidity, stability and affordability to the mortgage market.

3. Technically, banks could refuse a single woman a loan until 1974 when the Equal Credit Opportunity Act went into effect.

4. Auxiliary Dwelling Unit on a single-family residential lot. They include separate units, garage conversions, units above the garage, finished basements and buildout home additions.

5. August Sackett and Fred Kane invented Sackett Board in 1894 to save time from building with plaster. US Gypsum bought the patent and introduced sheet rock in 1917. It did not become popular until 1945 during the building boom after World War II. Today it’s an industry standard.

6. California’s Property Tax Law of 1850established the statewide property tax.

7. A law that sets the maximum tax rate at 1 percent of a property market value at time of purchase. It allows for other voted-in assessments such as school bonds which will increase the total property tax. It limits the increase of value up to 2 percent for inflation annually.

8. Federal Lead Based Paint Disclosure. It requires that potential buyers and renters of housing built prior to 1978 receive information about lead and lead hazards in the residence prior to becoming obligated to buy or rent and provides the opportunity for an independent lead inspection for buyers.

9. Electric stoves are overall more common in the U.S., with 68 percent of households owning one. In a majority of states, electric stove ownership surpasses 70 percent of households.

10. 8 Percent of Californians still have a landline.

*Answers are from: Wikipedia, Consumer Reports, Reddit, Village News and various government sites.