Once upon a time, in the bustling streets of colonial America, real estate sales were a far cry from the glossy brochures and virtual tours we’re accustomed to today.
The American dream was often purchased with a handshake. The saying, “buyer beware” was very true; sometimes buyers didn’t know exactly what they bought or if they were sold property even owned by the seller.
The need for experts in buying and selling brought into existence the first real estate brokerages, establishing themselves in Chicago and Northern California in the late 1800s. The National Association of REALTORS was originally founded as the National Association of Real Estate Exchange in 1908 and adopted a Code of Ethics to create a standard for the industry.
As the nation expanded and cities grew, so too did the demand for housing. Suddenly, square footage became a hot commodity. In the 1800s, the average American home was a modest one or two rooms, averaging 400 square feet.
Families made do with what they had — no indoor plumbing, heat from a fireplace and often multi-generational living or large families shared the space. Glass windows were a luxury.
As the Industrial Revolution swept across the land, so too did the desire for bigger and better homes.
In the 20th century, the American dream took on new dimensions. Suburban sprawl and the rise of the middle class led to a housing boom like never before. Levittowns sprung up like mushrooms, offering cookie-cutter homes with 750 square feet to accommodate the burgeoning families of post-war America.
Today, square footage continues to be a defining factor in the real estate market. Typical new homes now are a bit over 2,400 square feet while lot sizes have decreased. Whether a buyer is looking for a tiny house or McMansion, they are constantly seeking the perfect balance between space and affordability.
And while the methods may have evolved, the essence of real estate remains the same: finding a place to call home, no matter how many square feet it may be.
For the most up to date information on selling and buying in Ramona, go to RREA.org and find your local expert.
Karen Domnitz is vice president of the Ramona Real Estate Association and a Realtor, DRE #00897503, with CENTURY 21 Affiliated
See the full article about real estate tech innovations, or, read more news about Arizona real estate investing. We warmly encourage you to recommend our site to your fellow investors, letting them benefit from the valuable insights we provide. Thank you!