We have logged thousands of hours in depositions and at trial, testifying in all manner of real estate valuation cases. 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.
In recent years, Greenfield has become recognized as leading experts in RMBS litigation. We’ve helped successfully settle over two dozen such cases to date, with client recoveries topping $20 billion. In one of the company’s largest cases, 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.
The transfer or development of contaminated property also poses special complications for which we are uniquely prepared. The determination of the highest and best use of such property requires attention to both pre- and post-remediation possibilities and factoring in the economic and societal concerns with both paths. We understand tax credits and other programs, which provide valuable tools to brownfield redevelopers. In some situations remediation is not a complete solution, so the “best use” must consider (for example) a permanent monitoring situation. Only when the long-term effect of contamination is completely understood can the appropriate way forward be determined.
Similar to our work with Contaminated Properties, Greenfield has a rich history in valuing properties with physical property damage. If a property has been harmed by fire, water, wind, construction defects, or some other source, we can assess what impact that damage may have on property value.
Using accurate and reliable analyses, such as cost-to-cure, use & enjoyment, land & improvement valuation, erosion risk assessments, matched data analysis, and measuring impacts from stigma, we determine the full effect of damage to the property.
As industry leaders in stigma, impaired, and unimpaired property valuation, we deliver Daubert-tested results that our clients can depend on.
Through our unbiased review method, we have a history of providing support in Consumer Cases to both banks and borrowers. Our team has expertise in every step of consumer protection cases. Our focus is on conducting an impartial audit of loan origination documents, closing procedures, and underwriting.
Our areas of expertise in consumer protection matters include:
For example, our team of economists, statisticians, and programmers have built AVMs and have consulted on multiple assignments in the space. Our principals have consulted on several patent infringement cases and provided expert witness testimony. Our experience building these technologies allows us to be comfortable determining whether a competitor’s product infringes on a patent, whether an invention was obvious, and whether one performs better than the other.