Real estate is real property consisting of the actual buildings and land on it, and its accompanying natural resources like water, plants or minerals; immovable real estate; a right to acquire, build, improve, rent or use a definite piece of immovable real estate, buildings or house in return for payment. Real estate brokers buy and sell residential, commercial, agricultural and industrial real estate. The most common real estate forms are: single-family homes, multiple-family residences, office buildings, retail properties, vacant land, farmlands, partnership interests, partnerships, franchises, property management services, mortgage banking and real estate brokerage. These forms of real estate also include, on a smaller scale, residues, ferries, outlying strips, townhouses, row homes and vacant land.
Single-family homes consist of homes built on one lot with attached houses on adjacent lots. They have wide spaces and are well planned with ample space for public places like parks and schools. Commercial real estate deals with developments that incorporate building or houses, buildings and land for business or other structured purposes. Majority of commercial properties are manufactured homes or high-rise apartments. Vacant land includes undeveloped land and undeveloped farmlands. The economic characteristics of vacant land are that it is usually bought cheap and is a good investment opportunity with the highest return potential.
The features of the real estate include: tax equity, minimal capital cost, attractive locations, availability of ready capital, ready market, limited liability, preservation of the land and structures, and a sound return on investment. The most important feature of real estate investments is that the land should be free from all legal encumbrances like encroachments, liens and demolitions. Economic features of single-family homes on the other hand, are often supported by sewer systems, water supply systems, electricity sources, roads, parks, recreation areas, community amenities, and schools. Commercial real estate includes office buildings, shopping malls, hotels, nursing homes, motels, warehouses, and apartment buildings.