Real estate is simply property consisting of the structures and land on it, and its accompanying natural resources like water, plants or metals; or immovable property, i.e., a definite interest in the object of purchasing real estate. The term ‘real estate’ covers a wide spectrum of distinctively different types of property, including the two major types, i.e., fixed property and Floating property. Fixed property is that which a buyer can buy, build and furnish as he wishes, and pay for with money received from a mortgage loan. A floating property is one in which the value of the underlying asset may change, either up or down, only to a certain extent. Both these types of property are covered by the various sections of real estate law. These laws vary from state to state, and depending on the circumstances involved.
One type of real estate is ‘residential real estate’. This covers structures that a person may use for living and/or for renting. These homes and other residential real estate holdings are not designed primarily as economic properties, but rather as fixtures for living. Some examples of residential real estate holdings are town homes, condominiums, row homes, apartment buildings, mobile homes, and manufactured homes.
Another type of real estate includes ‘permanent fixtures’ as the legal term suggests. These types of real estate include homes, industrial and office buildings, and temporary storage facilities. Permanent fixtures include those that cannot be moved, such as houses, barns, shops, and factories. Some examples of permanent fixtures include warehouses, hotels, motels, office buildings, schools, colleges and hospitals.
The types of real estate include many, and each type has several main categories. The first main category is ‘Residential Real Estate Investment Property’. This type of real estate includes houses, townhouses, condominiums, row houses, apartment buildings, manufactured homes, and raw land. The many different types of residential properties can be used for a variety of purposes. These can include primary residences, vacation homes, second homes, vacation rentals, second homes for rental income, or as an investment property.
The second main category is ‘Employment Real Estate Investment Property. This is often times combined with the Residential category to create the ‘Commercial Real Estate Investment Property’. Some of the main examples include office buildings, warehouses, retail stores, warehouses, motels, warehouses, and some forms of personal property. In addition to this, the Commercial category also includes a number of other real estate examples including apartment buildings, townhouses, row houses, and vacant land. Some examples include real estate examples that include vacant land with buildings on the surface, partially excavated land with buildings on top of it, undeveloped land, etc.
The last main category is ‘Other Real Estate’. This can include everything from agricultural land to private conservation lands. It can also cover all types of man-made structures that are made out of stone, metal, plastic, wood, etc. These are the most common types of real estate and include everything from housing complexes and shopping centers, to hotels, golf courses, reservoirs, power plants, and more.