Strategic Property Analytics, Inc.

Strategy. Valuation. Econometrics. Consulting.

We are a real estate advisory services firm with a focus on litigation support, strategy, valuation and consulting. We deliver timely and insightful forensic consultation and valuation services to clients in both the public and private sectors.  Whether providing confidential preliminary consulting, written or oral valuation reports or expert testimony in open court, we generate clearly reasoned and thoroughly supported opinions and conclusions.

Our focus is on real estate damage economics, which involves environmental contamination, construction and title defects, soils issues, natural disasters, and so forth. These damages total over $50 billion annually. Additionally, some legal claims overstate the damages. We utilize advanced methodologies 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 Story

Our Story

In 2014, Orell Anderson and Steve Valdez founded Strategic Property Analytics, Inc. (SPA), an advisory services firm focused on appraisal, litigation support, strategy, valuation, and consulting. SPA is a local to global firm, with experience working on some of the world's largest class action real estate litigation cases. Our team benefits from a diverse set of scholarly practitioners with significant experience in the valuation of impaired real estate.

Our Work

Our Work

Failures, disasters, accidents, and intentional damages put us into action to theorize about what happened, to gather information, and to fully understand what went wrong. The SPA Team has worked on some of the greatest disasters, detrimental conditions, and related litigation in the world. Much of what we have worked on is a history of failures and missteps. This is the foundation of our firm. We study failures, real and imagined, to better understand them and how they affect real property value. Our work has shaped the core methodologies currently used in the field of real property damage economics.

Our Services

Our Services

SPA is an expert appraisal firm with national and international experience. We specialize in complex property valuation, with a focus on operating mineral properties, greenfields and brownfields, eminent domain, construction and title defects, geotechnical issues, natural disasters, and other atypical property conditions. SPA delivers timely and insightful forensic consultation and valuation services to clients in both the public and private sectors. Whether providing confidential consulting, written or oral valuation reports, or expert testimony in open court, we generate clearly reasoned and thoroughly supported opinions and conclusions.

The Leading Causes of Solutions is Problems

The Leading Causes of Solutions is Problems

Our unique approach to problem solving is a response to a complex world that demands the skills of real property experts working collaboratively with attorneys, agencies, and property owners. In many ways, our greatest successes can be measured by problems that never occur. What interests us most—professionally and personally—is not the problems, but the solutions they generate. Of course, solutions cannot become possible without the clients who bring cases to us or without our dedicated team who help solve them.

Orell Anderson, MAI, FRICS, ASA

Orell Anderson, MAI, FRICS, ASA

Mr. Anderson is the Founder, President, and Lead Testifying Expert. Orell is a global thought leader on the valuation of impaired real estate. He is a valuer and expert forensic consultant with extensive experience in appraisal, diminution-in-value studies, and litigation support matters involving special use, commercial, industrial, subdivisions, vacant land, and single- and multi-family residences. Mr. Anderson enjoys complex litigation assignments with subject matter at the intersection of environmental contamination and condemnation.

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Steve G. Valdez

Steve G. Valdez

Mr. Valdez is a Founding Principal and Testifying Expert. 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. He 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.

Chris Yost-Bremm, Ph.D.

Mr. Yost-Bremm is an Assistant Professor of Finance at San Francisco State University, and a licensed California appraiser (Certified General). 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. He has also provided statistical analysis services under non-litigation circumstances, involving environmental cleanups by international government agencies.

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Orell Anderson, MAI, FRICS, ASA

Orell Anderson, MAI, FRICS, ASA

Mr. Anderson is the Founder, President, and lead testifying expert at Strategic Property Analytics. Mr. Anderson is a valuer and expert forensic consultant with extensive experience in appraisal, diminution-in-value and litigation support matters involving commercial, industrial, subdivisions, and vacant land properties, as well as single- and multi-family residences. Diminution issues include environmental contamination, eminent domain, soil or geotechnical, construction.

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Steve Valdez

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.

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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Alexander 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

Daniel Adomian is an economic consultant for real estate valuation and damages. He joined SPA in 2019. 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 consumer subscription and as a business gifting solution. Daniel is an area representative for his local neighborhood council in Los Angeles. He is a graduate of Claremont McKenna College.

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

Jason Borras

Mr. Borras is the Operations Director and a Research Analyst at Strategic Property Analytics. Jason is an econometrician who has been with SPA since 2018. Mr. Borras provides appraisal-related consulting, research, and analysis for real estate involved in litigation or negotiations around the world. Mr. Borras is also a contributing author to the article, "PFAS Contamination and Residential Property Values - A Study of Five US Sites within the Assessment Stage of the Remediation Lifecycle." He also Co-Chairs and develops the Appraisal Institute's Los Angeles & Orange County Market Trends Seminar since 2019. He will be joining the AI's Southern Branch as a 3rd Advisor starting in 2023.

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Louis L. Wilde, Ph.D.

Louis L. Wilde, Ph.D.

Dr. Louis Wilde holds a Ph.D. in Economics from the University of Rochester, where his areas of concentration were Labor Economics and General Equilibrium Theory. From 1976 to 1992, he was a professor at the California Institute of Technology, 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 FoundationFellowship. He became a full-time economic consultant in 1992.

Michael Kearns, MAI

Michael Kearns, MAI

Mr. Kearns is a real estate appraiser with more than fifteen years of experience valuing various interests in 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

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.

Journal Articles and Practice Pointers

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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Looking Under the Hood 10.2– A Study of the Impacts from Contamination on Land Prices in Baltimore, Maryland
  •  01/30/2023 10:56 PM

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

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Looking Under the Hood 10.2 – A Study of Light Rail Transit System Impacts on Property Values in Minnesota
  •  12/07/2022 10:05 AM

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.

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Looking Under the Hood 10.1– A Study of Odor, Noise, and Eminent Domain in Arizona
  •  11/30/2022 11:14 PM

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.

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Looking Under the Hood 9.9– A Study of Surface and Groundwater Contamination Impacts on Residential Prices in Buncombe County, North Carolina
  •  10/13/2022 09:27 PM

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.

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