An accurate, high-resolution precipitation estimation based on rain gauge and radar observations is essential in various meteorological applications. Although numerous studies have demonstrated the effectiveness of merging two information sources rather than using separate sources, approaches that simultaneously consider the local radar reflectivity, the neighborhood rain gauge observations, and the temporal information are much less common. In this paper, we present a new framework for real-time quantitative precipitation estimation (QPE). By formulating the QPE as a continuous conditional random field (CCRF) learning problem, the spatiotemporal correlations of precipitation can be explored more thoroughly. Based on the CCRF, we further improve the accuracy of the precipitation estimation by introducing geographical and temporal attention. Specifically, we first present a data-driven weighting scheme to merge the first law of geography into the proposed framework, and hence, the neighborhood sample closer to the estimated grid can receive more attention. Second, the temporal attention penalizes the similarity between two adjacent timestamps via the discrepancy of two-view estimates, which can model the local temporal consistency and tolerate some drastic changes. A sufficient evaluation is conducted on 11 rainfall processes that occurred in 2015, and the results confirm the advantage of our proposal for real-time precipitation estimation.