It can be difficult to discern whether real estate is fairly valued. For example, Marc Weidner, managing director of Franklin Templeton Real Asset Advisors, thinks core real estate has looked expensive by many market metrics for some time now. No matter that he’s been proven wrong, because there is another factor in real estate valuation: location. “You could take this building,” he explains. “It is a unique building, but I can say that about every building anywhere in the world.