Is it this http://en.wiktionary.org/wiki/Realty and this http://en.wikipedia.org/wiki/Realtyand is there more? Please join my new group Realty http://activerain.com/groups/Realty and help shape the way the world views Realty on . It's our chance to talk about realty issues and the real estate market. Everyone is welcome to join this new group.
Realty is everywhere and impacts everyone but we only have one earth. Do you really think you can even own realty? It was here before us and will be here after we are gone. Your title passes on only because it's been recorded in history. If you own realty is it free and clear ownership? Try not paying your property tax and you will soon find you don't own and you really never did own anyway. Your ownership exists because government structures are in place to enforce these ownership rights. These structures are in place just like a fence. They mark your realty's exisitance but they are not free. Just like it would cost money to build and maintain a fence around your property to mark the boundaries. Signs warning not to enter or face the law or a shot gun. Wars have been fought and still are over realty. So can you really own realty? What is it that you think you own? You own the right to fight and pay and even die for realty. It's not free and it's not even real if it's not enforced.
What value it has is based on it's society's value at the time. There's gold in them there hills or it could be the next superfund site. What you have the right to do with it and how you use it. It's location location location too. Is it near water, does it have water, do I have to cross water to get to it? What are it's resources, the climate, is it really dirt cheap, oh no there goes the neighborhood? So many factors can change the value. Welcome to the real world where nothing can have a value unless the market agrees. Society creates the market and a buyer and a seller put a value on it.