How Do We Appraise a Property with Dinosaur Bones and Other Fossils?

At Greenfield Advisors, we have built a reputation on our ability to value a wide range of assets, from contaminated properties to trophy properties, and from an alpaca herd to pharmaceutical royalties. One of the many interesting projects we have worked on over the last 40 years involved appraising a […]

CoreLogic RiskSummit 2015 Recap

I had the privilege of attending the CoreLogic RiskSummit 2015 July 26 through 28 in Dana Point, California. The St. Regis Monarch Beach hotel was the perfect setting for the mixing of business and pleasure (I got to see whales and dolphins on Monday afternoon, along with other conference attendees). […]

We Won!

We are excited to have won the International Association of Assessing Officers’ (IAAO) Bernard L. Barnard Outstanding Technical Essay Award. I couldn’t have been prouder to accept the award on our behalf at the awards luncheon at the 80th Annual IAAO Conference on August 25. I was lucky to […]

Wisconsin Electric Public Interest Analysis

In the summer of 2010, Greenfield Advisors advised Wisconsin Electric Power Company (WE Energies) in its successful proposal to build a biomass-fueled cogeneration facility in the Village of Rothschild, Wisconsin. WE Energies needed to acquire a zoning variance to construct the 198 foot-tall building and 265-foot boiler stack in […]

Greenfield Advisors Nominated for Outstanding Essay Award

Three of Greenfield Advisors’ staff are proud to be nominees for the International Association of Assessing Officers’ (IAAO) Bernard L. Barnard Outstanding Technical Essay Award.

This award, named in honor of Dr. Barnard, past Director of Research for the IAAO, is presented to the best article or essay on technical […]

Recap of Advanced Topics in Survey Research Webinar

Thank you to everyone who turned out for my IACET-hosted webinar last week on “Advanced Topics in Survey Research.” We had a great turnout, and based on some of the feedback I’ve received, we’ll be doing another survey research class soon.
If you missed it, you can catch up here. It […]

Upcoming Webinar on Advanced Topics in Survey Research

I’m excited to be presenting the webinar “Advanced Topics in Survey Research” on Wednesday, May 21. This course is the follow-up to my October online course on basic survey research topics.
My new course is a great educational tool for professionals of all levels. Course attendees will learn more details […]

Do Survey Results Systematically Differ From Hedonic Regression Results? Evidence From a Residential Property Meta-Analysis

In this paper, we evaluate the effect of environmental contamination situations on residential property values. Using the meta-analysis technique, conclusions are drawn about the effect of location, type of study conducted, empirical technique used, and economic conditions on various outcomes. Using observations extracted from 40 peer-reviewed articles, meta-regression analysis […]

General Guidelines to Survey Research: Part 3 – Analyzing and Reporting the Data

Today we continue from previous posts where we have discussed the first and second of three phases of survey research where guidelines should be implemented:

Determining a Survey Sample Universe
Creating the Survey Instrument
Collecting, Analyzing, and Reporting the Data

This time we will discuss the third phase.
There are guidelines to follow when […]

General Guidelines to Survey Research: Part 2 – Creating the Survey Instrument

We continue from our previous post, where we discussed how guidelines for CV surveys can generally be broken up into three phases of research:

Determining a Survey Sample Universe
Creating the Survey Instrument
Collecting, Analyzing, and Reporting the Data

This time we will discuss the second phase, creating the survey instrument.

Creating the Survey Instrument
When […]

General Guidelines to Survey Research: Part 1 – Determining a Survey Sample Universe

We’ve noted in previous posts that it is important to follow stringent guidelines when conducting a contingent valuation (CV) survey because it can be crucial to determine accurate measurements. Our research suggests that following these guidelines results in CV estimates that eliminate bias and provide a range of value impacts that are consistent with […]

Measuring Stigma in an Alpaca Herd

Typically Greenfield Advisors works on projects focused in real estate, but from time to time we are asked to use our valuation skills in other contexts. One context that we found to be particularly interesting was when we were asked to measure the financial impacts of the stigma of […]

An Example of Survey Use in Valuation

To give readers a better idea of how survey methodology can be used in a real estate valuation context, we thought it would be a good idea to share some of the survey results we’ve found in the past. There have been several cases where we have been able […]

An Introduction to the Contingent Valuation Method

Last year when my colleagues and I published a paper on contingent valuation in the Journal of Real Estate Literature, I posted a link to the paper in case any of my friends would like to read it. While some congratulated me on the publication, most confessed that they had […]

Why conduct surveys?

Survey research is a useful tool that can help researchers gain a better understanding of a given topic. It has proven to be a truly versatile instrument that’s practical in almost any field of research. One of the unique aspects of surveys is their ability to acquire a substantial […]

Advanced Appraisal Methods

 
In August, the Appraisal Institute held its annual meeting in San Diego. This was a great 3-day educational event, with top speakers on cutting-edge valuation topics.
I’m pleased to have been invited to present a tutorial on advanced valuation methods, which complimented a week-long Institute course designed by Dr. Marv Wolverton, […]

Advanced Statistical Modeling in Real Estate Appraisal

This presentation provides a basic familiarity with the use of hedonic regression modeling (i.e., mass appraisal), survey research, meta-analysis, and expert systems in real estate appraisal. It discusses how these methods fit in the appraisal body of knowledge and comport with the Uniform Standards of Professional Appraisal Practice (USPAP) […]

Appraising Real Estate in Complex Environmental Class Actions: An Expert’s View

Class actions dealing with real property contamination often require some method of valuing the properties. Individual appraisals on those properties are not required; mass appraisal methods meet both the Frye and Daubert tests and can be superior to individual methods in class actions or mass torts. Professional appraisal standards […]

The Brownfield Challenge

Most appraisers can agree on four key points about valuing brownfields:

Contamination poses an issue that must be considered in the appraisal process.
Proximate contamination significantly impairs property values.
Multiple impairment mechanisms are at work, including actual cost-to-cure, increased ongoing maintenance costs, and stigma.
The valuation process is complex, often requiring advanced valuation approaches […]