Strategic Property Analytics, Inc.
Strategy. Valuation. Econometrics. Consulting.
who we are
Our focus is on property value diminution claims, which involves environmental contamination, eminent domain, construction and title defects, soils issues, natural disasters, and so forth. We utilize advanced methodologies to review real estate damage claims and to determine what impact, if any, detrimental conditions have on value. Our clients include government agencies, oil and gas companies, insurance agencies, utilities, corporations, developers, lenders and property owners.
our practice
Our Story
Orell Anderson and Steve Valdez founded Strategic Property Analytics, Inc. (SPA) in 2014. The firm provides advisory services in appraisal, litigation support, strategy, valuation, and consulting. Our team comprises of diverse and knowledgeable scholarly practitioners who are dedicated to the study of property value diminution. Orell, Steve, Chris, and the team have provided significant contributions to the published literature and education for most appraisers on the subject of real estate damages.
Our Work
SPA is a leader in the valuation and review of property value diminution claims across the globe, from Downtown New York City to the vast and remote Outback of Australia. Our expertise includes determining the impact of stigma on property values resulting from various conditions, such as crime scenes, terrorism, hurricanes, underground power lines, solar energy projects, and more.
Our Services
SPA is a valuation firm that holds expertise on a national and international level. Our specialization lies in analyzing complex property value diminution claims with an emphasis on environmental, eminent domain, construction and title defects, geotech, disasters, and other potentially detrimental conditions. Our team offers proficient and insightful forensic consultation to both the public and private sectors. We strive to provide our clients with thorough and supported opinions, whether in confidential consulting, written or oral reports, or expert testimony.
Our Solutions to Complex Problems
We have an in-depth understanding of the intricate dynamics between different stakeholders in the real estate industry, enabling us to offer accurate and precise appraisal services that aid in the resolution of the most complex property valuation issues. Our expertise has been instrumental in negotiations and settlements of many of the most high-profile real estate litigation cases worldwide.
Team
Orell Anderson, MAI, FRICS, ASA
Mr. Anderson is a qualified expert in real estate damages with over 29 years of experience. He has been qualified as an expert in various courts across the United States and internationally, including the Federal Court of Australia. He currently serves as the Co-chair of the ABA’s Environmental Litigation Sub-Committee on Damages and Eminent Domain, and is a member of several committees, including the IRWA Valuation Community of Practice. Mr. Anderson is also a frequent speaker, instructor, and writer, and is the contributing author of the book Real Estate Damages.
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Steve G. Valdez
Mr. Valdez, a founding principal and testifying expert, has a particular expertise in reviewing complex property value diminution claims. His extensive experience spans internationally, covering various high-profile properties, disastrous events, and various detrimental conditions. Mr. Valdez is the co-author of the Valuation of Environmentally Contaminated Real Estate course for the International Right of Way Association. He has also authored numerous published articles in legal and valuation journals and contributed significantly to authoritative texts on the valuation of detrimental conditions in real estate.
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Chris Yost-Bremm, Ph.D.
Dr. Yost-Bremm is an Assistant Professor of Finance at San Francisco State University and holds a license as a Certified General appraiser in the state of California. He has extensive expertise in analyzing the effects of environmental contamination on real estate values, specifically in class actions or mass tort claims, both during certification and merit phases. Dr. Yost-Bremm has provided testimony in federal court and has also offered statistical analysis services to international government agencies for non-litigation purposes related to environmental cleanups.
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Orell Anderson, MAI, FRICS, ASA
Orell Anderson is a renowned expert in real estate damages with over 29 years of experience. He has been qualified as an expert witness in various courts across the United States and internationally, including the Federal Court of Australia. He currently serves as the Co-chair of the ABA’s Environmental Litigation Sub-Committee on Damages and Eminent Domain, and is a member of several committees, including the IRWA Valuation Community of Practice. Mr. Anderson is also a frequent speaker, instructor, and writer, and is the contributing author of the book Real Estate Damages.
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Steve Valdez
Mr. Valdez is a Founding Principal and Testifying Expert at Strategic Property Analytics. Steve has a specialty in complex property valuation and real estate damages. His practice is international, including iconic properties and highly publicized disasters and an array of detrimental conditions. He is the co-author of the Valuation of Environmentally Contaminated Real Estate course for the International Right of Way Association. Mr. Valdez has authored several published articles in legal and valuation journals and is a noted contributor to authoritative texts on the valuation of detrimental conditions in real estate.
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Chris Yost-Bremm, Ph.D.
Mr. Yost-Bremm is an Assistant Professor of Finance at San Francisco State University, and a licensed California state appraiser (Certified General). Dr. Yost-Bremm has been with Strategic Property Analytics, Inc. since 2018, developing and critiquing statistical methodologies involving real property on behalf of numerous firms and individuals. Dr. Yost-Bremm has significant experience in analyzing the impacts of environmental contamination, particularly under class action or mass tort claims (at both the certification and merit stages). He has testimony experience in federal court. In addition, he has also provided statistical analysis services under non-litigation circumstances, involving environmental cleanups by international government agencies.
Learn MoreAlexander Wohl
Mr. Wohl is the senior research analyst at Strategic Property Analytics. Alex has been involved with SPA since incorporation. His efforts have helped to establish SPA as a leading firm in the valuation of potentially impaired real estate. Mr. Wohl is a contributing author to many publications on real estate damages.
Bobbie Caraway
Mrs. Caraway has worked in Real Estate Damage Economics for 22 years. She spent 14 years with Bell Andeson & Sanders, LLC, 6 years with Landmark Research Group, and is currently with Strategic Property Analytics, Inc. She wears many hats, which involve running the business, gathering data for case research, and everything in between. Bobbie serves as an administrative assistant for Orell Anderson. She can be reached at bobbie@strategicpropertyanalytics.com
Daniel Adomian
Daniel Adomian joined SPA in 2019 as a consultant for real estate damages. He focuses on complex matters including eminent domain, environmental contamination, natural resources, partnership disputes, and construction issues. He also has substantial experience in competition economics, including antitrust, regulatory review, and mergers and acquisitions. He is a co-founder and former COO of Vices.com, a curation of luxury products available as a subscription and as a business gifting solution. Daniel is an area representative for his local neighborhood council in Los Angeles and a graduate of Claremont McKenna.
David Krishan
Over 25 years of experience in commercial real estate. Experience in acquisitions, hotel, motel & land, market research, development & renovation, deal negotiation and land use issues including the entitlement process.
Dennis A. Webb, ASA, MAI, FRICS
Mr. Webb is an appraiser and business valuer with wide-ranging expertise in related fields. He is the owner of Primus Valuations, a multidisciplinary valuation firm with a general business valuation practice and an emphasis on real property-related and other specialty business interests. This emphasis is supported by experience with real estate appraisal, business valuation, and partnership syndication. His is an interdisciplinary fact-oriented practice area that demands an integrated approach to valuation.
Franceskay Allebes
The one who holds us all accountable. Without her, we are nothing.
Jason Borras
Mr. Borras is the Operations Director and Research Analyst at Strategic Property Analytics, providing consulting and analysis for real estate involved in litigation or negotiations globally. Jason, an econometrician with 6+ years' experience in analyzing property value claims, is also a contributing author to a published article on PFAS contamination and holds leadership roles in various professional bodies, including 3rd advisor for the Southern Branch of SCCAI and membership chair for Chapter 67 of the IRWA. He also co-chairs the SCCAI's LA & OC Market Trends Seminar and the Litigation Seminar.
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Louis L. Wilde, Ph.D.
Dr. Louis Wilde holds a Ph.D. in Economics from the University of Rochester, where his concentrations were Labor Economics and General Equilibrium Theory. From 1976 to 1992, he was a professor at the Cal Tech, where his research focused on consumer behavior, industrial organization, and law and economics. He has numerous academic publications and has been awarded a variety of research grants and fellowships including 11 National Science Foundation Grants, a Fellowship in Civil Liability from the Yale Law School, and a Guggenheim Memorial Foundation Fellowship. He became a full-time economic consultant in 1992.
Michael Kearns, MAI
Mr. Kearns is an appraiser with more than fifteen years of experience valuing residential, commercial, industrial, and special use properties. During his career, he has appraised over 1,000 properties throughout the United States, spanning at least 20 states and seven countries. While the majority of these assignments have been undertaken for lending clients, other clients include property/portfolio owners, attorneys, accountants, and other appraisal users. In addition, he has provided highest and best use analyses, market studies, feasibility studies, financial and statistical analyses, and has engaged in the development of real estate.
Mike Brunson, SRA
Michael Brunson is a partner at RPD Analytics, a private firm specializing in expert witness and consulting services in the areas of Real Estate Damages, USPAP Compliance, and complex valuation assignments. Mike consults with SPA on various assignments.
Shelley Bird
Mrs. Bird serves as Strategic Property Analytics' accountant. She has been with the firm since incorporation. She brings a tremendous expertise to the firm.
Tara Harder
Tara Harder began her career mapping glacial velocities in Greenland before focusing full-time on providing research for litigation support. In 2018 she joined Strategic Property Analytics as a GIS Specialists and has been working on geospatial projects ever since. Tara holds a B.A. in Environmental Science from the University of California, Irvine, and a Professional GIS certificate from Michigan State University. She is a licensed real estate salesperson and has completed all education requirements for the trainee appraiser classification in the state of New York.
Notable Engagements
Publications
Journal Articles and Practice Pointers
The team at Strategic Property Analytics provides significant contributions to the published literature on appraisal and real estate economics.
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The difference-in-differences regression model's initial output showed that buyers of single-family residential homes located 2000 and 1000 feet away from existing natural gas pipelines were willing to pay 1% to 3% less, respectively, after the explosion. However, the authors noted that it was challenging to determine whether the impacts were due to perceived or actual risks. Other model specifications did not reveal any significant impact on property values. In conclusion, the study suggested that pipeline risk can have a negative impact on housing market capitalization.
Before the explosion, residential properties had no statistically significant impacts from pipeline proximity for both the Trans Mountain and Olympic pipelines. After the explosion, the Olympic pipeline provided a statistically significant discount for single-family properties located near the pipeline. For homes 50 feet, 100 feet, 200 feet, and 1,000 feet away from the pipeline, the indicated discounts were 4.6%, 2.3%, 1.2%, and 0.2%, respectively. Upon further analysis, the authors observed that the Trans Mountain pipeline had no statistically significant impact after the explosion.
The results of the hedonic analysis showed that land with market awareness of documented contamination sold at an average 67% discount compared to unimpaired prices. Properties adjacent to a contamination source experienced a 42% diminution to land value. The study suggested that unconfirmed, presumed environmental source sites can also have impacted property prices. In this study, suspected contamination source sites had property prices 65% lower than unimpaired land value
The hedonic modeling provided evidence that single-family properties near a blue line and a proposed green line station benefited in the magnitude of 5.7% to 6.8%. After development, proximity to a station was found to be an amenity for both lines. Conversely, homes located near a railway without a station experience a decline in property values, with homes near the green line experiencing diminution five times greater when compared to blue line properties. For multifamily properties, model specifications were poor, and thus no conclusion could be made. Similarly, in terms of “value benefit transfer”, an 18% difference was observed. However, no conclusion could be made due to a lack of precision.
Given that the existing facility produced odor, the incremental impact of the expansion was stated to be small. In reconciliation, the appraiser concluded an overall diminution of 4% for the buildable area of the subject property. For industrial use, the impact was stated to be negative but less than residential in magnitude.
Before public awareness, properties within the potentially contaminated shallow groundwater plume garnered a 242% premium compared to similar unimpaired properties. After public attention, the premium dissipated completely. After listing on the NPL, the hedonic output revealed a considerable discount for properties within the shallow groundwater plume. A 69% to 77% diminution in value was observed for properties within the shallow groundwater plume. [2] Properties potentially impacted by deep groundwater and surface water contamination did not experience any statistically significant property value diminution in this study.
The results of this study suggest that affordable housing positively affects housing prices and crime rates decrease or essentially stay the same after affordable housing developments are opened. This conclusion contradicts commonly held beliefs about the effects of affordable housing and it is hoped that the study will encourage the development of affordable housing in Orange County.
Contact
- 28202 Cabot Road, Suite 300 Laguna Niguel, CA, 92677