United States Real Estate
Real estate in the United States is a major diversified area of business and significant part of the quintessential American Dream. Real Estate is immovable property that includes land along with anything that is permanently affixed to the land such as a building or home. Real property is considered to be synonymous with real estate, and is often referred to as realty, in comparison with personal property, which is referred to as chattel. Many real estate and home owners as well as real estate agents prefer to distinguish real estate as the land and fixtures, from real property, referring specifically to ownership rights in regards to real estate. The terms real property and real estate are primarily used in common law in contrast to civil law jurisdictions of immovable property and in reference to real estate agents and real estate investment. The colloquial and conceptual difference between immovable property, real property and real estate is that title is transferred along with the land and real estate and movable property a person retains the title to while sellers of real estate retain title to movable property. United States residential real estate for sale includes single-family residences, apartments, condominiums, lofts, flats, cooperatives, and land or lots for custom new homes and personalized new home construction, and real estate for sale in gated communities, and a real estate agent is used to facilitate the real estate investment transaction. These United States residential real estate options comprise a variety of styles of both new homes and existing old homes and offer different amenities, options and features varying by location on all levels from state, county, township, geographical region, etc. and real estate varies in price accordingly. Purchasing or buying real estate is a significant investment and in most cases, the most significant financial decision that citizens of the United States and real estate and home owners make in their lifetimes. Each individual piece of real estate is unique and maintains individual characteristics. United States real estate comprises several very specialized fields where different real estate professionals are available to ensure the integrity of each facilitated transaction, most commonly, real estate agents. Several kinds of specialized fields of real estate professionals involved in a real estate investment transaction include:
- Real Estate Appraisal : A real estate appraisal is a professional valuation service taking many factors into consideration to establish the price of the specified real estate or real estate investment including localized market conditions and a comparative market analysis.
- Real Estate Brokerage : A real estate brokerage, such as TheUSARealty.com, assists buyers and sellers of real estate with respective needs in regards to facilitating real estate transactions and real estate investments.
- Real Estate Development : Real estate development refers to making improvements to land for use by building homes or any variety of real estate or replacing buildings.
- Real Estate Property Management : Real estate property management refers to the service of managing a property for the property’s owner.
- Real Estate Marketing : Real estate marketing refers specifically to managing the sales portion of the property business.
- Real Estate Relocation Services : Real estate relocation service refers to relocating real estate, home owners, or businesses to a country outside of the United States.
- Real Estate Agent : A licensed real estate professional working under the supervision of a real estate broker, who assists a buyer or seller of real estate in the transaction of real estate. The real estate license is given to practice in a specific state upon the successful completion of the state real estate license exam.
- Realtor : A Licensed real estate professional, agent or broker, who is a member of the National Association of Realtors trade organization and agrees to abide by its code of ethics.
Within each specialized field of United States real estate, specific real estate agents, real estate investments or businesses maintain a specialty in a particular type of real estate including residential real estate, commercial real estate, and industrial real estate. In a breakdown of the United States real estate economy, residential real estate comprises $48 trillion, commercial real estate comprises $14 trillion, while the rest of the United States economy contributes $20 trillion in equities, $20 trillion in government bonds, $13 trillion in corporate bonds. Essentially, real estate assets represent over 54% of the United States economy. As a result, it is clear why real estate is a significant aspect of society for everyday life and why real estate agents and real estate investments have evolved into such highly specialized business.