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Las Vegas Real Estate Damages

The field of real estate damages deals with qualifying and quantifying the economic impact of a specific detrimental condition on the value of real estate.  Practice in the area of real estate damages requires a level of expertise that includes specialized knowledge, training and experience.  At Brunson-Jiu, LLC – we have that expertise and will work with you to prepare a report that is thorough, well supported and credible.  We also have the experience as qualified expert witnesses to present and defend our findings in a deposition or courtroom setting. 

Real estate damage cases are very complex.  Once a condition that is perceived as potentially negative becomes known, it must be studied to determine if the condition is in fact detrimental.  It is simple to understand that a major catastrophe like a fire or a natural disaster such as a tornado or a tsunami will have significant detrimental impact on real estate.  However not all “negative” conditions are detrimental.  For example, many people might think that the value of a property involved in a class action construction defect case would be detrimentally impacted beyond the physical cost to correct the defects.  However, we have seen that it is possible for non-physical real estate damages, such as inclusion in class action litigation, to be benign – having no measurable economic impact on the value of the property.  This type of real estate damage study can be a significant part of your overall litigation strategy. 

Once a condition has been qualified as detrimental, the value of the real estate should be appraised in both the impaired and the unimpaired state in order to properly quantify the diminution of value.  The development and communication of reliable and credible appraisals can determine the outcome of this stage of a real estate damage case. 

A final – and sometimes overlooked – aspect of this type of case is the ongoing impact or risk associated with the detrimental condition.  In some circumstances, the value of an impaired property will return to its unimpaired value upon correction of the detrimental condition - either immediately or over a period of time.  In other circumstances the negative impact on value may linger for an indefinite period of time.  An analysis of case studies from similar real estate damage problems will provide a meaningful measure of the risk associated with a specific type of detrimental condition.

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