Greenfield Advisors has logged thousands of hours in depositions and at trial, testifying in all manner of real estate valuation cases. As such, we are a tremendous asset, not only for providing rock-solid analysis, but in crafting viable strategies to handle the most complex situations. We are the preeminent voice in matters of complex real estate valuation and litigation, particularly with respect to the stigma associated with contamination before, during, and after remediation. We hold particular expertise in dealing with large subject areas such as neighborhoods impacted by contaminated groundwater or company towns soaked in the byproducts of manufacturing.
As part of our mass appraisal methods, Greenfield Advisors uses statistically derived hedonic modeling, which has also proven to be extremely effective during the class certification stage of major litigations. Our experience with these complex mathematical models has strengthened our ability to explain commonality during class certification, knocking down the traditional arguments regarding the limitations of class actions and mass joinders due to differences between properties impacted by one or more sources of contamination. These models also bolster our mass appraisal methods, often allowing for large numbers of properties to be valued without the time and expense of a door-to-door process.
While we have made our name in some of the largest oil spill litigations of the day, we have expertise in a diverse set of circumstances:
- Mortgage-Backed Securities – Dr. John Kilpatrick, Managing Director at Greenfield Advisors, testified as an expert in FHFA v. Nomura et al. (No. 11-Civ- 6201 (DLC)) concerning an automated valuation model (AVM) to estimate property values of the underlying collateral associated with loans in the at-issue securitizations regarding whether the appraised values of subject properties were systemically inflated during the relevant time period.
- Contaminated Property Valuation – We bring a deep understanding of how contamination affects not only the value of a property, but how it can be detrimental to nearby properties as well as the surrounding real estate market. Our team of analysts is uniquely skilled to determine the impact of contamination on property values.
- Landfill Impacts – Mismanaged or toxic landfills may have a physical or economic impact on the surrounding properties, which may translate into property value impacts. Greenfield Advisors has testified or consulted on landfill cases across the United States.
- Concentrated Animal Feeding Operations – Greenfield Advisors’ researchers are among the most frequently cited authors in the United States on the impact of feedlots on surrounding property values, and we have testified to these issues numerous times.
- Appraisal Standards – Unfortunately, real estate valuation often results in litigation, particularly when issues of negligence are alleged. Greenfield Advisors’ years of expertise allows us to testify authoritatively on standards of practice and applications of generally accepted approaches and methods.