A Home of One's OwnLook up the legal meaning of the term real estate, and you will find a fairly cut-and-dried, literal definition. Real estate is defined as property and the buildings on it, along with the land's resources, such as mineral rights or agricultural crops. Real estate is also called realty and real property.For many people, however, the term 'real estate' carries a deeper emotional resonance. Whether you are a first-time home buyer navigating your first FHA loan or a seasoned veteran with multiple home purchases and sales to your credit, real estate means a place to call home. more... See more text