About Real Estate Field:
Real estate is solid and concrete field. Real estate encompasses a piece of land, structure or building on that land. Each of us is associated with real estate in some or other way. Places where we work, live, shop, vacation and exercise come under real estate field. All such places or assets are bought, sold or rented. The real estate sector is one of the active fields in the economy of U.S.
The real estate sector depends heavily on numerous economic factors. A small swing in economy can affect real sector considerably. For instance, real industry is helped with the boom in technology industry in the 1990s. Such boom in the technology industry increased demand for residential as well as commercial spaces. The subsequent bust in technology affected real sector radically.
Real estate firms in commercial sector are involved in the development office and retail projects. When the market is having excess spaces, prices go down. Residential sector is also affected by the changes in economic condition as well as federal interests rate. Any change in federal interest rate affects mortgage interest rates as well as rate of the unemployment which in turn affects confidence of the customer and their buying capability.
Residential real estate firms are small in size. Generally they concentrate on properties in their near by places. Real estate firms which are dealing in commercial properties are large enough and recruit more number of brokers as well as salespersons. Commercial real estate firms are also handle properties and manage real estate investment trusts while there are residential firms which also manage commercial sales.
Real estate industry was frequently popped up by the media in last decade or so. Prime reason for this is Federal Reserve had slashed the interest rates from 6.5 to 1 percent within three year span which made money to buy houses.
Please refer following articles regarding Real Estate Career: