What is Real Estate?
Real estate is property consisting of land, the buildings on it, and any natural resources within the property boundaries, such as waters and crops. Real estate can be categorized into four types: residential, commercial, industrial, and land.
Residential properties include structures for domestic residence such as single-family homes, condominiums, townhouses, mobile homes, and vacation rentals.
Commercial properties include structures used to produce income such as offices, stores, hotels, services and other businesses.
Industrial properties include structures used manufacturing, such as factories, warehouses, and research centers. Generally industrial is for the production of goods and commercial is for the distribution of goods.
Land properties include few or no structures such as vacant land, farms, ranches, and reclaimed sites.
Provides information about the handling of excess real property and information on properties being offered for sale to the general public.
Property type includes:
Unneeded or underutilized federal property can vary widely in type and value, and may include:
- Undeveloped land;
- Office buildings;
- Commercial and industrial facilities;
- Military holdings; and
- Single- and multi-family residences.
These former federal properties can contribute to a community’s vitality by providing benefits such as:
- Expanded employment opportunities;
- Housing for the homeless; and
- Establishment of educational centers, parks, and open spaces.
How the Real Estate Industry Works
Real estate also refers to producing, buying and selling real estate. Real estate affects the U.S. economy by being a critical driver of economic growth.
Construction of new buildings is a component of gross domestic product. It includes both residential, commercial, and industrial buildings.
New home building is a critical category. It includes the construction of single-family homes, townhouses, and condominiums. The National Association of Home Builders provides monthly data on home sales and average prices. The data on new home sales is a leading economic indicator. It takes four months to establish a trend for new houses sold.
Real estate agents assist homeowners, businesses and investors buy and sell all four types of properties. The industry is typically divided up into specialists that focus on one of the types.
Sellers’ agents help find buyers through either the Multiple Listing Service or their professional contacts. They price your property, using comparative listings of recently sold properties known as “comps.” The can help you spruce up your property so it will look its best to customers. They assist in negotiations with the buyer, helping you get the highest price possible. Here are more sellers’ agent services.
Buyers’ agents provide similar services for the home purchaser. They know the local market. That means they can find a property that meets your most important criteria. They also compare prices, called “doing comps.” It allows them to guide you to areas that are affordable. Buyers’ agents negotiate for you, pointing out reasons why the seller should accept a lower price. They help with the legalities of the process, including title search, inspection and financing.
What is the Real Estate Market?
The real estate market is all properties available for sale in a given area. Because of large economic forces, there are times when these properties rise in value (or fall) at the same time. This what people mean when they say the market is up (or down).
The housing market is a segment of the real estate market that consists of residential properties only. Trends in the housing market are closely watched because they provide a measure of general welfare.
Because many residential properties are owned by individual families, if the housing market is doing well, we can assume that families are doing well because their net worth is increasing.
Services we offer :
- Research all comparable currently listed properties
- Give seller an overview of current market conditions and projections
- Property management services
- Selling a property and Buying a property