Fall 1999, Vol 24, No 3

Abstract: Starting with the first offering of GNMA securities in the early 1970s, the real estate industry has been in a state of rapid change. The securitization of the mortgage markets, institutional ownership, investment trusts, globalization, and information technology have fostered a new era in valuation analysis and the people who do it. The scope of real estate valuation has grown beyond the original boundaries defined by traditional appraisals. The parallel growth in litigation counseling has created demand for real estate analysts who bring specialized knowledge of valuation theories, capital markets, and other emerging real estate issues to the litigation process. The traditional use of appraisals is not diminished, but merely used only when and where appropriate. The Counselors of Real Estate is a unique organization composed of real estate experts from numerous disciplines. Many members of The Counselors come from these emerging real estate market segments and can offer the legal community an enhanced array of economic, financial, and real estate valuation methods.