Economist Real Estate Expert Witness

E X P E R I E N C E    S U M M A R Y

With more than 30 years in practice, this expert has an extensive background in providing financial and economic analyses to estimate damages in real estate matters; valuations; and consulting on litigation strategies. He also presently serves a firm in its Economic Research Group.

P R O F E S S I O N A L   H I S T O R Y

Consulting Group 2013 – 2022
San Diego, California
This expert brought to the consulting group an extensive National background in real estate development, real estate investment economics, lending, valuation and market analysis.
He has completed a wide range of feasibility and valuation studies in the sale and rental housing, apartment, retail, office, industrial and hotel industries.
He serves the legal and forensic accounting community with a broad range of services, including:
Economic Loss and Diminution of Value: Strategies and Calculations
Valuations of Residential and Commercial Properties
Demographic and Market Trends Analysis
Market and financial analyses of real estate developments and investments
Portfolio dissolution, acquisition and disposition strategies
Matrimonial and divorce allocation of properties

London Group 2011 – 2013
San Diego, California
Principal
London Group 2011 – 2013 (Principal)
Provided consulting and expert witness services, drawing on his extensive background in development analysis and real estate development, and served as a mentor to the staff on real estate development investment issues.

MarketPointe Realty Advisors.-1997 – 2011(Director, Economic Research)
His practice focused on real estate development, rental housing, age restricted communities (including assisted living facilities), condominiums, condominium conversions, office, retail, hotel and industrial developments.
He has also served as the Chief Economist for the California Building Industry Association and authored annual economic forecasts and other technical and demographic and economic “white papers”

Con Am Research- 1992-1997 (Managing Director)
Con Am Research provided a broad range of economic and demographic research, real estate feasibility studies, development impact studies, due diligence and litigation support to the private and public sector. The firm developed specific expertise in fiscal impact analysis and investment.

HomeFed Bank- 1990-1991(Director, Real Estate Research)
Provided economic forecasting, demographic and market research studies, portfolio analysis and disposition strategies for Bank’s $10+ billion bi-coastal asset management, lending and development portfolio. Also served on the Investment Committee of HomeFed Trust Co. and as advisor to the Bank’s appraisal department.

Con Am Securities, Inc.- 1983-1990 (President)
Created marketing campaign and directed a $500,000,000 sales effort for public and private offerings through Wall Street firms.
Responsible for market research, real estate acquisition and development strategies for firm’s nationwide multi-family portfolio, and managed investor relations for the firm’s limited partners.

Sanford Goodkin and Associates- 1974-1983 (Sr.VP)
Directed feasibility and valuation studies for developers, property owners, lending institutions, litigation counsel, and governmental clients throughout the United States.

American Housing Guild (predecessor to Con Am)– 1971-1974 (National Director of Market Research)

EDUCATION

STANFORD UNIVERSITY
Master of Arts Degree
Statistics and Research

AMERICAN UNIVERSITY
Completed Doctoral Coursework
Advanced Graduate Studies

Master of Business Administration
Real Estate Economics

Bachelor of Arts Degree
Marketing

DEVELOPMENT EXPERIENCE

Co-founder of four firms that bought, built, renovated and operated more than three-dozen Southern California properties, valued in excess of $250,000,000.
Apartment rehab & development and condominium conversions; office and industrial buildings; custom homes and self-storage

LENDING EXPERIENCE

Past affiliations: Board Member- Equality Savings & Loan, Provident Capital Corp (Subsidiary of Provident Savings of Boston); Rancho Bernardo Savings & Loan; former Director of Real Estate Research, HomeFed Bank; organizer and original board member, 1st Pacific Bank
TEACHING EXPERIENCE
Author, Statewide Curriculum, “Investing in Real Estate”
Litigation Economics, CLE Course Creator and Instructor
Member, Board of Advisors, UCSD Department of Real Estate and Development
Authored and instructed courses at UCSD Extension, USD Burnham Moores Department of Real Estate; SDSU and National University:
Real Estate Investment, Real Estate Development, Real Estate Feasibility, Condominium Conversion, Apartment Investments, Architectural Monuments, Trends in California Demographics
University of San Diego – Instructor, CLE-approved Seminar on Litigation Economics.

COMMUNITY ACTIVITIES

Past President, San Diego Chapter, Lambda Alpha International (LAI), an international honorary land economics society
Advisory Board, UCSD Department of Real Estate & Development
Advisory Member and co-founder, UCSD Economics Roundtable
Past Board Member, San Diego Co. Apartment Association
Member, Dean’s Advisory Board, School of Business, National University
Member, Board of Trustees, La Jolla Country Day School (1992 – 2002)
Burnham Center for Community Advancement

ORGANIZATIONS

Lambda Alpha International; SPIRE (Stanford Professionals in Real Estate); Urban Land Institute

Recent Expert Witness Assignments

• Subject Matter: Valuation of new view home with construction damage on Emerald Bay, Laguna Beach CA
• Case: Diminution of Value, Property at La Jolla CA
• Subject Matter: Impairment of view, $5.0+ million home in La Jolla CA
• Subject Matter:  Defense of unlawful detainer complaint for property located in South El Monte CA. Property was commercially zoned and contaminated.
• Subject Matter:  HOA withheld information; major cell tower installation next to Plaintiff’s home in Rancho Santa Fe.
• Subject Matter:  Our client (Plaintiff) was accused of withholding of information on office buildings acquisition. Plaintiff won on intentional misrepresentation, negligent misrepresentation and breach of implied covenant of good faith.
• Subject Matter: Analysis of the ability to develop Rio Mesa master-planned community in Madera County and the development profit potential.
• Subject Matter: Historic valuation of the Oceanside properties known as Loma Alta industrial park.
• Subject Matter: Determine economic damages resulting from faulty disposition of a decedent’s 43 properties in Ocean Beach and Pt. Loma.
• Subject Matter: Misappropriation of funds involving multi-million dollar custom home development in west Los Angeles and economic losses suffered by developer.
• Subject Matter: Economic damage as a result of construction defects. Analysis of income and revenues and estimates of length of time for repairs.
• Subject Matter: Valuation of condominium/hotel units at the Hard Rock Hotel in downtown San Diego. Analysis of income and operating expenses.
• Subject Matter: Economic losses as a result of falsified financial statements by seller and misstatement of construction improvements.
• Subject Matter: Economic loss calculations relating to professional negligence in the acquisition of multiple multi-family properties in Lancaster California.
• Subject Matter: Viability of development and potential value of properties in Reno, Las Vegas, San Diego and Yuma.
• Subject Matter: Client’s prowess as a real estate investor and preparation of economic damages and valuations pertaining to client’s business ventures.

PUBLICATIONS & PRESENTATIONS: Available upon request.

HONORS: Available upon request.