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Residential real estate consists of both new construction and resale houses. The commonest category is single-family homes, but there are additionally condominiums, co-ops, townhouses, duplexes, triple-deckers, quadplexes, high-value properties, multi-generational properties, and vacation homes. Sometimes referred to as “real property,” real estate is technically land plus some other tangible enchancment which may rest upon it or be installed in it. The improvement might be a constructing that’s been erected there or a roadway. It could be something that’s been inserted into the ground, such as a septic system. Land with any of those constructions is claimed to be “improved.” It’s “unimproved” when it lacks them.
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