Noting Historical Milestones In The Real Estate Industry


A particular radio announcer has an opening theme that asks, “Where am I and how did I get here?”

That serves as an introduction to some of the historic milestones in the real estate industry.

1840 — First account of modern indoor plumbing.

1867 — The United States purchases Alaska for $7.2 million, the equivalent of 2 cents per acre. No doubt the seller has seller’s remorse.

1876 — The first title insurance company in the United States opens in Philadelphia.

1882 — The town of Union Park (population 42) was founded.

1884 — The town of Union Park became Payson, Arizona.

1900 — 75 percent of Americans live in rental housing.

1908 — Sears and Roebuck introduces do it yourself home kits ranging from $695 to $4,115.

It comes with a 75-page instruction manual and this warning ... “Do not take anyone’s advice as to how this building should be assembled.”

Also, the National Real Estate Exchange (later to become the National Association of Realtors) is founded.

1913 — The National Real Estate Exchange adopts the first code of ethics.

1923 — H-O-L-L-Y-W-O-O-D! Harry Chandler of the Los Angeles Times has a vision for a development and erects a sign with letters standing 50 feet tall.

1928 — The residential air conditioner was invented making Sun Belt cities more attractive.

1930 — Will Rogers states, “Buy land. They ain’t makin’ anymore of the stuff.”

1934 — Fannie Mae is chartered by the federal government.

Late 1950s — Developers start building condominiums after importing the idea from Puerto Rico.

1958 — The Beeline Highway is paved, making the trip to a vacation home much easier.

1960 — Del Webb starts building Sun City outside of Phoenix.

1962 — Jed Clampett and his family move to Beverly Hills.

1964 — Gilligan, The Skipper, The Millionaire and his wife, a Movie Star, The Professor and Mary Ann make a deserted island their comfortable home.

1970s — The energy crisis brings focus to more energy efficient homes.

1974 — The National Association of Real Estate Boards becomes the National Association of Realtors.

1975 — The first computerized Multiple Listing Service becomes active.

1982 — Home mortgage interest rates are above 18 percent.

1994 — The Internet begins to provide property listings.

1999 — Homeownership rises to 67 percent of the nation’s households.

2009 — My son graduates from college and moves out of my domicile and into his own!

Ray Pugel is a designated broker for Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.


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