Strategic Property Analytics, Inc.
Strategy. Valuation. Econometrics. Consulting.
who we are
Our focus is on property value diminution claims and real estate damages, which involves environmental contamination, eminent domain, construction and title defects, soils issues, wildfires, geotechnical, natural disasters, and so forth. We utilize advanced methodologies to review property value diminution 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
Strategic Property Analytics, Inc. (SPA) incorporated in 2014, co-founded by Orell Anderson and Steve Valdez. SPA is a dynamic firm specializing in complex valuation services, appraisal, economics, litigation support, and consultancy. Our accomplished team is a mix of diverse, scholarly practitioners deeply committed to the field of property value diminution. Notably, Orell, Steve, Chris, and our team have made profound contributions to the literature and education related to real estate damages, shaping the landscape for appraisers.
Our Work
Our experience includes but is not limited to: Agricultural Land, Apartments, Auto Dealerships, Conservation, Easements, High-Rise Office Buildings, Historical Railroad Uses, Hotels/Motels, Industrial, Land, Landfills, Low-Income Housing, Medical Buildings, Master-Planned Developments, Mining, Mini Storage Facilities, Mixed-Use, Museums, Night Clubs, Oil and Gas, Parking, Ranches, Resorts, Restaurants, Retail Facilities, Rural Residential, Service Stations, Shopping Centers, Single Family Residences, Skilled Nursing Homes, Special Use Properties, SRO’s, Subdivisions, and Submerged Lands.
Our Services
Our expertise centers on complex property diminution claims, notably those involving environmental contamination, eminent domain, energy, construction defects, title defects, geotechnical, wildfires, natural disasters, crime scenes, terrorism and various adverse situations. We provide clients with thoughtfully reasoned and well-supported opinions, whether conveyed through confidential consultations, written or verbal reports, or expert witness 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 Valdez
Mr. Valdez, a founding principal and testifying expert, has an advanced expertise in reviewing complex property value diminution claims. His extensive experience spans internationally, covering high-profile properties, disastrous events, and various detrimental conditions. Steve has served as an expert witness in several cases involving complex appraisal problems. He is the author of 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, PhD
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.
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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 and speaker 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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David Kader
Mr. Kader, a Research Analyst at Strategic Property Analytics, Inc., has extensive experience working on complex valuation projects that involve detrimental conditions. David proves to be an invaluable asset as he consistently provides thoroughly reasoned research and appraisal assistance.
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.
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.
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.
Franceskay Allebes
The one who holds us all accountable. Without her, we are nothing.
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
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.
Alexander Wohl
With heavy hearts, we deeply regret to inform you of the passing of Alexander Wohl. Alex was a light in our lives and we will greatly miss you. Mr. Wohl was the senior research analyst at Strategic Property Analytics. Alex had been involved with SPA since incorporation. His efforts helped to establish SPA as a leading firm in the valuation of potentially impaired real estate. Mr. Wohl was a contributing author to many publications on real estate damages.
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 research findings suggest that property values near the upper Milwaukee River increased after the cleanup efforts, particularly following reductions in PCB concentrations. Considering all residences in the remediated zone, the suggested increase in property value following cleanup amounts to 3%, or $5,683. However, it's important to note that the effects observed primarily pertain to the upper Milwaukee River, and the full restoration of the broader Milwaukee Estuary AOC is still a work in progress. Further research is necessary to confirm the value of fully restoring AOCs based on post-cleanup sales data.
Irwin’s hedonic output presented evidence that elevated lead risk had a significant negative impact on property values. In 2005, the year following the implementation of the new policy for lead-risk classification, homes in the high lead-risk zones sold for approximately 6.7% less as compared to homes outside of a zone. This estimate increased to 7.9% and 8.9% in the subsequent years.
The findings reveal notable diversity in the impacts on property prices across different sites; however, the overall trend indicates a decline of 3% to 6% following the public awareness of a release and a subsequent increase of 4% to 9% post-completion of cleanup efforts. These averaged effects encompass the property price responses observed within a 5-year timeframe after the release or the cleanup, and these effects gradually wane as distance from the site increases, extending up to 2 or 3 kilometers away. The authors expressed the view that the implementation of the meta-analysis was judiciously executed within this research, maintaining uniformity across models. This deliberate approach was adopted with the intention of mitigating significant downfalls observed across other studies.
The results of the property fixed-effect model revealed that proximity to green space had a positive impact on property values. However, the impact of different types of natural landscape views varied. Farmland views were considered amenities, as a 2% increase in property prices was observed when the farmland viewshed area increased by 10%. On the other hand, views of green space did not show any statistically significant impact on property values. One of the most intriguing findings of the study was related to views of forestland. Contrary to the assumption that natural landscape views are always beneficial, the study found that views of forestland had a small but statistically significant negative impact on property values.
The research findings revealed that boil water notices had varied impacts on real estate values. For properties within the lower 60 percent quantile, BWNs were found to have a statistically significant negative effect on residential values. Moreover, for properties that experienced both a BWN and a one-day water disruption, a decrease in property value was observed ranging from 0.6% to 8.4%. However, for high-priced houses falling within the 0.7 quantile, no noticeable decrease in property value was detected due to BWNs. Overall, the authors concluded that since most properties in the county experienced multiple water disruptions caused by BWNs, residential values were likely to have declined by approximately 1% to 10%. The findings imply that BWNs can have a detrimental effect on property values, particularly for lower-priced houses.
Remarkably, the study's findings indicated that there was no significant evidence of racial bias affecting appraised values when comparing black-owned homes to white-owned homes. Based on their thorough analysis, the authors concluded that racial bias did not seem to play a significant role in influencing appraised values in this specific refinance market.
The case studies demonstrated that innocent landowner programs positively affected property values. Properties within these programs maintained their values similar to unimpaired properties, indicating no diminution in value for non-source properties with a formal release of liability. The Innocent Landowner Program proved beneficial to property owners, preserving their property's value despite previous contamination issues.
Contact
- 28202 Cabot Road, Suite 300 Laguna Niguel, CA, 92677