Real Estate Fundamentals

Property consisting of land and any permanent improvements attached to it.

Real estate plus the legal rights associated with ownership.

Movable items not permanently attached to real estate.

Personal property attached to real estate and considered part of it.

Residential, commercial, and industrial.

Property used for housing — single-family, multi-family, condos, co-ops.

Property used for business purposes — office, retail, hotel.

Property used for manufacturing, warehousing, distribution.

Property combining multiple uses, e.g., retail with apartments above.

Undeveloped land without buildings or infrastructure.

A free-standing residential building for one household.

A residential building with multiple units (duplex, triplex, fourplex, apartments).