CRE Global Outreach: The Kenyan Student Exchange Program
Summer 2010, Vol. 35, No. 2 Abstract: The Counselors of Real Estate (CRE) recently established a small-scale student exchange program in one of the last emerging global markets: Africa. Funded by The CRE Foundation, the program brought three Kenyan students from the Kenya School of Monetary Studies (KSMS) to New York City in May 2010 to… Read more
Ethics Versus Compliance
Volume 35, Number 2 Summer 2010 By Bowen H. ‘Buzz’ McCoy, CRE Photo: 3D generator/Shutterstock.com Recent articles in The Wall Street Journal reported a renewed emphasis on ethics on the part of the newly appointed dean at Harvard Business School. The financecaused current recession has raised issues of fraud and corruption in several sectors of… Read more
Reconsidering the Definition of Highest and Best Use: The Case for a Post-Disaster Highest and Best Use
Summer 2010, Vol. 35, No. 2 Abstract: Orderly development and ownership of real property following a disaster depends critically on the estimation of the highest and best use and real property value. It is the number used in the payment of insurance loss claims, possible sale, construction of improvements, and financing. The typical market concept and… Read more
Valuing Tax-Exempt Real Estate Bonds
Summer 2010, Vol. 35, No. 2 features Abstract: In today’s constrained lending environment, tax-exempt real estate bonds are a viable apartment financing option because of their low “all-in” costs (interest rates), extended maturity terms and potential assumption features. These bonds are generally only assumable on properties originally developed with them in place, but in some cases,… Read more
Are Condos Securities? How to Determine When You Have a Security
Summer 2010, Vol. 35, No. 2 Abstract: Can real estate ever be a security? Can disgruntled buyers void purchases by claiming securities fraud? This article reviews case law regarding related real estate transactions and addresses what buyers and sellers should know. For example, if the real estate venture in question is a security, a purchaser can… Read more
Residential Energy Efficiency: A Model Methodology for Determining Performance Outcomes
Summer 2010, Vol. 35, No. 2 Abstract: The current climate of opinion in both the residential and commercial sectors for new and existing building stock gives a prominent role to energy efficiency as a policy tool. Executive and legislative branches of government at both the state and federal levels are considering and adopting policy options to valorize energy efficiency in the service of everything from national security to curbing global... Read More