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Appraisal Methods for Real Property This manual provides county assessors and their staffs with the basic information and procedures to set up and maintain a mass appraisal program for property tax purposes. A wellrun appraisal program benefits and serves all those who pay property taxes in Oregon. The International Association of Assessing Officers defines mass appraisal as: “. . . the systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing.” By following the guidelines in this manual, it is possible to achieve accurate, persuasive, and defendable appraisals to use as the basis for property tax assessment. The cost of estimating property value using other methods would be prohibitive and not in the best interest of the public. This manual reflects laws and Department of Revenue (DOR) policies that were current at the time of publication. In addition to other DOR publications, we have utilized the following sources to produce this manual: Property Assessment
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California Supreme Court Issues New Eminent Domain Opinion, Squashes Uncertainty Over Proper Date of Value By John C. Murphy, Jennifer Riel McClure and Jennifer Wood Dienhart Associate Justice Ming W. Chin, writing for a unanimous California Supreme Court, has just silenced almost five years of clamor and uncertainty. Before last Thursday, February 22, 2007, different lower courts had reached different results on a key eminent domain issue: the proper date of value. When should a landowner be allowed to use the trial date, the latest date possible, as the date the condemned property is valued? Landowners prefer the latest date possible - - the trial date - - in a rapidly rising real estate market. Condemning agencies by contrast, prefer an earlier date of value, usually the date of pretrial deposit, around the time the agency first files its complaint. So who is correct? In last Thursday’s opinion, Mt. San Jacinto Community College District v. The Superior Court of the County of Riverside (February 22, 2007, S132251) _____ Cal.4th _____, the California Supreme Court ended the uncertainty. The Court endorsed the California Legislature’s long-standing, clear, bright-line rule, a rule adopted more than 33 years ago. (See Code Civ. Proc., § 1263.110 et seq.)
The Rural Information Center (RIC) is a joint project of the USDA Cooperative State Research, Education & Extension Service and the National Agricultural Library (NAL). RIC provides information and referral services to local government officials, community organizations, health professionals and organizations, cooperatives, libraries, businesses, and rural citizens working to maintain the vitality of America's rural areas. The Center combines the technical, subject-matter expertise of Extension's nationwide educational network with the information specialists and resources of the world's foremost agricultural library. The Office of Rural Health Policy in the Department of Health and Human Services (DHHS) and the NAL jointly created a Rural Information Center Health Service (RICHS) as part of the RIC. RICHS collects and disseminates information on rural health issues, research findings related to rural health, and innovative approaches to the delivery of rural health care services.
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California State Law State law governing prepayment is contained in Government Code Sections 65863.10, 65863.11, & 65863.13. You can find a summary of the State’s requirements on the State of California’s web site at: http://www.hcd.ca.gov/hpd/hrc/tech/presrv/ Generally, there are two requirements in State law: 1. Notice. 12 months and 6 months prior to prepayment, the owner must notify all tenants, the local government, and the State of the proposed prepayment. 2. Offer to Sell. 12 months prior to prepayment, the owner must offer the property for sale to everyone on a state-maintained list of prospective purchasers who are willing to assure the long-term affordability of the housing. For 180 days, these prospective purchasers have an exclusive right to make an offer. For an additional 180 days thereafter, any of these prospective buyers that made an offer but was rejected still maintains a right of first refusal. Owners may wish to seek legal advice on State laws affecting prepayment. Because of the 12-month notice and offer requirements, owners will need to have begun to comply with State law before applying for prepayment with USDA.
Housing & Community Development General Plain HTML Version (Printer Friendly) HCD Mission Provide leadership, policies and programs to preserve and expand safe and affordable housing opportunities and promote strong communities for all Californians HCD Strategic Plan and Performance Management System Performance Management System — (Adobe PDF) or (Microsoft Word) Chapter I - Strategic Plan — (Adobe PDF) or (Microsoft Word) Chapter II - Description of Core Programs, Services, and Mandates — (Adobe PDF) or (Microsoft Word) Chapter III (Part 1) - Action Plans: Strategic Plan and Core Programs — (Adobe PDF) or (Microsoft Word) Chapter III (Part 2) - Core Program Action Plans — (Adobe PDF) or (Microsoft Word) Performance Management System Overview, July 2005 — (Adobe PDF) or (Microsoft PowerPoint)
Tax Break With a View By RACHEL EMMA February 7, 2007; Page D1 Muscoe R.H. Garnett Jr.’s farm in Loretto, Va., hasn’t changed much since the family acquired it in the 1600s. Now, the retired insurance executive has made sure it will stay that way. Encouraged by recent tax legislation, Mr. Garnett has placed a “conservation easement” on much of his property, located about 80 miles from Washington, D.C. The move permanently shields the rolling pastures, timber forests and croplands from being turned into a housing subdivision or business park. Under the easement, which is a binding agreement typically made with a land trust, the Garnett family still owns the land and can continue to use it for farming and timber but most of it can never be developed. . .
. . . Be careful, though. The Internal Revenue Service and Congress in recent years have been concerned with easement abuses in which donors have taken inflated deductions or placed restrictions on land with little conservation value, such as golf courses. The new law includes stiffer rules and penalties regarding appraisals, to prevent donors from overstating the deduction for their land. The IRS says it is currently auditing hundreds of easements. . .
. . . But the law is designed to encourage easement donations by allowing larger tax deductions. Landowners can now deduct the value of a donation up to 50% of their adjusted gross income per year, up from the previous ceiling of 30%. That means if your adjusted gross income is $100,000, you are now eligible for as much as a $50,000 tax deduction a year, instead of $30,000. And if your income is too low to deduct the full amount of your gift in one year, you can now carry forward the deduction for 15 additional years, up from five years previously.
To Whom It May Concern: On behalf of the 1.3 million members of the National Association of REALTORS® (NAR), I am pleased to submit these comments on the Guidance Regarding Appraisal Requirements for Non-cash Charitable Contributions published in Notice 2006-96. The National Association of REALTORS® , “The Voice for Real Estate,” is America’s largest trade association, including NAR’s five commercial real estate institutes, its societies and councils. REALTORS® belong to one or more of some 1,700 local associations or boards, and 54 state and territory associations of REALTORS members and are involved in every aspect of the real estate industry -- including real estate appraisals. NAR’s Appraisal Section, has over 40,000 members. NAR urges the IRS to take care to not impose additional regulatory burdens upon appraisers involved in the valuation of real property in charitable donation transactions. Title XI of the Financial Institutions Recovery, Reform and Enforcement Act of 1989 (FIRREA) created the Appraisal Subcommittee of the Federal Financial Institutions Examinations Council Internal Revenue Bulletin: 2006-46 November 13, 2006
Notice 2006-96 Guidance Regarding Appraisal Requirements for Noncash Charitable Contributions Table of Contents SECTION 1. PURPOSE SECTION 2. BACKGROUND SECTION 3. TRANSITIONAL GUIDANCE SECTION 4. REQUEST FOR COMMENTS SECTION 5. PAPERWORK REDUCTION ACT SECTION 6. DRAFTING INFORMATION SECTION 1. PURPOSE This notice provides transitional guidance relating to the new definitions of “qualified appraisal” and “qualified appraiser” in § 170(f)(11) of the Internal Revenue Code, and new § 6695A of the Code regarding substantial or gross valuation misstatements, as added by § 1219 of the Pension Protection Act of 2006, Pub. L. No. 109-280, 120 Stat. 780 (2006) (the “PPA”). The Service and the Treasury Department expect to issue regulations under § 170(f)(11). Until those regulations are effective, taxpayers may rely on this notice to comply with the new provisions added by § 1219 of the PPA.
Appraisal Requirements for Conservation Easements The donor of a conservation easement who claims a value in excess of $5,000 must be certain to comply with all federal substantiation requirements. In order to claim an income tax deduction, the value of the conservation easement must be determined by a qualified appraisal. The appraiser you choose should have experience with development rights appraisals since it is possible that the Internal Revenue Service will look closely at your claims. (The Columbia Land Trust can provide you with a list of appraisers who have done such work.) (Market Value)
Moody's is the leading rating agency in the investment-grade corporate bond sector, with over 2,000 issuers rated from Aaa to Baa globally. We rate an estimated 90% of public market bonds and our in-depth issuer reports cover 80% of the market. Moody's Investment-Grade Research service includes access to all Moody's analysts globally, timely rating updates, frequent industry reports, issuer specific special commentary, investor conferences...more
Federal Rules of Evidence main page search | evidence overview Contents & Context These rules govern the introduction of evidence in proceedings, both civil and criminal, in Federal courts. While they do not apply to suits in state courts, the rules of many states have been closely modeled on these provisions. --------------------------------------------------------------------------------
Cacho v. Boudreau, No. S133378 (Cal. January 11, 2007) The state Mobilehome Residency Law, which regulates relations between the owners and the residents of mobilehome parks, does not preempt local rent control ordinances insofar as they allow mobilehome park owners to separately charge park residents for property taxes imposed on park land. [To view the full-text of cases you must sign in to FindLaw.com.] http://caselaw.findlaw. com/data2/californiastatecases/s133378.doc [To view the full-text of cases you must sign in to FindLaw.com.]
This publication is designed to help donors and appraisers determine the value of property (other than cash) that is given to qualified organizations. It also explains what kind of information you must have to support the charitable contribution deduction you claim on your return. This publication does not discuss how to figure the amount of your deduction for charitable contributions or written records and substantiation required. See Publication 526, Charitable Contributions, for this information. Appraiser-Appraisal,
City of Port Hueneme v. Oxnard Harbor Dist., No B185725 (Cal. 2d App. Dist. January 04, 2007) Sustaining of demurrers without leave to amend, in case challenging defendant harbor district's acquisition of land without defendant city's prior consent, is affirmed as Harbors and Navigation Code section 6077.5 authorizes a harbor district to acquire a railroad without the prior consent of the city in which railroad land is located. http://login.findlaw.com/scripts/callaw?dest=ca/caapp4th/slip/2007/b185725a.html [To view the full-text of cases you must sign in to FindLaw.com.]
BANKING LAW, CIVIL PROCEDURE, CONTRACTS, PROPERTY LAW & REAL ESTATE Henrichs v. Valley View Dev., No. 04-56470 (9th Cir. January 16, 2007) In an appeal stemming from a state court quiet title action, dismissal of plaintiffs' claims is affirmed, although on different grounds, where two claims were barred by the Rooker-Feldman doctrine, one claim failed on mootness grounds, and another failed based upon res judicata. [To view the full-text of cases you must sign in to FindLaw.com.]
CONTRACTS, PROPERTY LAW & REAL ESTATE Black Hills Invs., Inc. v. Albertson's, Inc., No D047894 (Cal. 4th App. Dist. January 12, 2007) In a case involving terminated contracts to purchase parcels of real property and a refusal to return deposits, denial of summary judgment for defendant and grant of summary judgment for plaintiff is affirmed over claims that: 1) the court erred in determining that the contracts were not expressly conditioned upon the filing of a parcel map as required by section 66499.30(e) of the Subdivision Map Act; 2) defendant's recordation of the required parcel map prior to the closing date terminated any right plaintiff had to avoid the contracts under section 66499.32 of the SMA; and 3) plaintiff's acts following defendant's recordation of the parcel map constituted ratification of the contracts. http://login.findlaw.com/scripts/callaw?dest=ca/caapp4th/slip/2007/d047894.html [To view the full-text of cases you must sign in to FindLaw.com.]
Owner doesn't oppose Hollywood move to seize apartment buildings By Ihosvani Rodriguez South Florida Sun-Sentinel Posted January 18 2007 Hollywood · City commissioners on Wednesday agreed to use eminent domain to buy private property in a neighborhood long plagued by crime. But unlike the last time the city tried to use its authority to obtain private property, this move isn't drawing an angry reaction from the apparent owner. LocalLinks The city plans to purchase two abandoned apartment buildings on the 5600 block of Wiley Street and then bring an affordable housing development to the blighted neighborhood. Appraiser-Appraisal,
MBA Commercial Real Estate/ Multifamily Finance Quarterly Data Book Third Quarter 2006 December 29, 2006 SELECTED CHARTS..................................................................................... 3 TABLE OF CONTENTS ................................................................................. 5 1. OUTLOOK Economic Commentary ............................................................................. 7 MBA Long-Term Mortgage Finance and Economic Forecasts.......................... 10 Employees on Non-farm Payrolls .............................................................. 12 Treasury Yields and Bank Rates................................................................ 14 2. COMMERCIAL/MULTIFAMILY FINANCE ENVIRONMENT Extract of Commercial Real Estate Comments from the Federal Reserve Board’s Beige Book................................................ 17 Commercial/Multifamily Property Sales Volume .......................................... 20 Commercial/Multifamily Prices and Capitalization Rates ............................... 22 Multifamily Building Permits, Starts and Completions................................... 24 3. PRODUCTION Quarterly Mortgage Banker Originations Survey.......................................... 27 Commercial Mortgage Backed Securities (CMBS) Issuance ........................... 31 American Council of Life Insurers (ACLI) Commitment Volumes .................... 33 4. MORTGAGE DEBT OUTSTANDING Commercial/Multifamily Mortgage Debt Outstanding.................................... 35 5. SERVICING Commercial/Multifamily Mortgage Servicers, Year-end 2005......................... 51 Mid-year Survey of Large CMBS Servicers, Mid-year 2006............................ 64 6. RECENT MBA COMMERCIAL/MULTIFAMILY RESEARCH RELEASES........ 67
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Commercial/Multifamily Quarterly Data Book A quarterly compendium of the latest MBA research on trends and conditions in the commercial/multifamily mortgage industry. This piece is published by the Research and Economics staff of MBA. It contains important analysis, trends and highlights that occurred within the commercial real estate finance industry within the previous quarter. MBA's Quarterly Data Book is produced quarterly.
Criminals Use County Websites to Steal Homes Criminals have discovered how easy it is to get real estate with no money down: just steal it off the county website. With little more than a copied signature and a notary seal taken from the county website, thieves have scooped up homes and vacant lots, taking out a mortgage or selling the property to unsuspecting buyers before the original owners know what hit them.
Putting a value on investment real estate How to determine what a piece of property is worth Published: Friday, Dec. 22, 2006 There is no such thing as absolute value of an investment property — value varies depending on the perspective of the party determining value. Think of the varying perspectives of the following parties, all of whom can assign value to the very same piece of property: an investor, an appraiser, a company planning to use the property, whether leasing it or buying it, a tax assessor, a commercial insurer, or an auctioneer. Well, what about fair market value? Fair market value is basically the price on which a willing seller and a willing buyer can agree on, assuming that each is acting with prudence, knowledge and under no undue force. This might be a good definition of value for the average investor, but value for a specific investor takes into account individual requirements, investment alternatives, tax rates and the ability to finance.
Fall Meeting of the Board of Trustees Stowe, Vermont October 28, 2006 Meeting Summary Below is a summary of the major issues addressed at the Fall Meeting of the Board of Trustees of The Appraisal Foundation which was held October 28, 2006 in Stowe, Vermont.
Phase I Property Assessment Requirements Are Significantly Altered - Will Cost More and Take Longer by Carol René Brophy Under new U.S. EPA regulations, environmental assessments will take longer to prepare, be more costly, and cause a significant impact to real estate transactions. Further, the regulations also impose new post-acquisition obligations on property purchasers. On November 1, 2006, EPA's "all appropriate inquiry" rule ("AAI Rule") took effect. As a practical matter, the AAI Rule greatly strengthens the due diligence requirements by placing new non- delegable obligations on prospective purchasers themselves, as well as revising phase I environmental assessment requirements. This e-alert summarizes key provisions of EPA's AAI Rule and suggests best practices for compliance.
Your legal resource How the Courts Ruled: This Year's (2006) Key Real Estate Decisions Court decisions on real estate issues can help guide your business practices. Reflect on these recent cases to understand how they may impact you and your clients. COMPILED BY MARIWYN EVANS From disclosure requirements to compensation disputes, court decisions interrupt how laws and regulations play out in real life and how you can do business legally. To help you stay on top of important real-estate related court decisions, and learn from others’ mistakes, we’ve complied an easy-to use summary of all of the pertinent legal decisions and law columns that appeared this year in REALTOR® Magazine. So take a minute to scan what the courts had to say this year. It may keep you from ending up in one.
Property Insurance May Lapse During Building Renovations Developers, owners and contractors that renovate or remodel commercial buildings need to know that a recent decision of the California Supreme Court will likely affect their property insurance. In TRB Investments, Inc. v. Fireman's Fund Ins. Co. (Nov. 13, 2006) 2006 Cal. LEXIS 13520, a vacant commercial building was undergoing major renovations when a water heater sprung a leak, causing substantial water damage. The property insurance policy contained a typical "vacancy" exclusion, providing that, if a building has been vacant for 60 consecutive days, there is no coverage for losses caused by vandalism, theft, water damage and the like. But, under an exception to that exclusion, the policy did provide coverage if the building was "under construction" during the period of vacancy.
Property Watch List for Dec. 3rd - 9th A Weekly Report on Potentially Distressed Properties In this week's Watch List, we answer the question: Why are you putting the spotlight on troubled properties? The answer in short is: One landlord's albatross is another investor's potential golden goose. Then we update an item from last week about a property for sale in the wake of a $50 million fraud investigation with new information on the other 270 properties affected by the ongoing court procedures. If you think a new Wal-Mart only impacts mom and pop shops, we tell you how it also is impacting major retail properties in North Carolina and Alabama. Plus we look at other retail centers in Houston and Chicago; apartments in Detroit and Atlanta; and offices in Dallas, Colorado Springs and Philadelphia.
Carroll v. Fort James Corp (11/27/06 - No. 05-60582) Dismissal of a suit brought by homeowners arising from alleged dumping of hazardous waste at their homes' site is affirmed in part over challenges to a ruling that plaintiffs failed to plead fraud with sufficient particularity, and a claim that the court abused its discretion in denying a motion for leave to amend. The judgment is reversed in part pursuant to a claim that the court dismissed several tort claims sua sponte without providing adequate fairness to the parties.
The Journal The Journal is a technical publication by the professionals of Stout Risius Ross. It contains various articles on topics related to investment banking, restructuring & performance improvement, valuation & financial opinions and dispute advisory & forensic services.
Engineering Services Highway Plan Reading Welcome to VDOT’s Plan Reading Guide. This guide is in PowerPoint and WORD97 for viewing on your computer. It will familiarize the reader with the information in, and the layout of, a set of highway plans. The PowerPoint version is in Imperial units and consists of four parts. To view the presentation just click on the desired Part and use the left mouse button or Page Down/Up keys to view the show. The right scroll bar is also available to move in the PowerPoint. "Back" exits the presentation at any time. "Fullscreen" presents a larger view of each slide. PART ONE - sheet numbering and title sheet information PART TWO - symbols, plan and profile sheets and horizontal alignment PART THREE - curve data, bearings, equality and profiles PART FOUR - typical sections, cross sections and answers to questions. The WORD documents may be Viewed on the computer as Page Layout or printed. There are approximately 50 pages in each of these WORD documents. The guide is in METRIC or or IMPERIAL units. Please contact Engineering Services at (804) 692-0211 with suggestions or questions.
Quantifying the Impact of International Job Outsourcing on Real Estate Values The inherent principles of capitalism – competition, free enterprise and entrepreneurship – seem to have backfired for the American worker. In a truly global economy, the competitiveness of offshore locations and the lower cost of labor outside the United States are compelling to many American companies. Tremendous cost savings is typically standard, and intense corporate pressure from investors to increase profits has greatly influenced this trend. In addition, the practice of international job outsourcing also helps to avoid strict U.S. regulations, employment taxes and labor lawsuits. In general, the controlled corporate cultural structure in America and the lack of health care and labor laws in many eastern nations attracts many U.S. companies outside its borders. Outsourcing is almost required in order to remain competitive. As companies in the United States continue to send more business overseas, a negative impact can be seen on the real estate market. Outsourcing policies like NAFTA have significantly impacted the industrial real estate markets while highly skilled jobs moving out of the U.S. have tremendously affected the office real estate market. These changes in the industrial and office real estate markets will continue to impact real estate values in the future. This article provides a historical perspective on international job outsourcing, and discusses how this phenomenon impacts the value of real estate. It also demonstrates an example of how to quantify the diminution in value of a property that is negatively affected by international job outsourcing (defined in appraisal jargon as a “negative externality”). Finally, it concludes with a short summary of other approaches one may consider to quantify a negative externality such as this.
Recent House Price Trends and Homeownership Affordability Executive Summary House prices in the U.S. overall have increased by at least 6 percent annually for each of the past four years, according to most measures, more than twice the rate of inflation overall. Variation across markets has been substantial, and annual gains in many metropolitan areas have been well above 10 percent. The price hikes have been far in excess of income increases, and the house price to income ratio for the nation is the highest in at least twenty years. Despite these price increases, home sales have remained strong. The number of existing homes sold in 2004 was up 10 percent from a year earlier, easily setting a new record. New home sales also have risen to record levels, and the demand that has pushed these sales has lifted new single-family construction to record levels as well. The homeownership rate–the proportion of households that own their home–is at its highest level ever, at 69 percent. The sharp increases in house prices have spurred debate as to their causes, their implications, and the prospects for the future. Whether the increases can be fully explained by income growth and interest rates, given prevailing supply conditions, or whether prices have been boosted by speculation to “bubble” levels, has been hotly contested by analysts. The consequences of the increases in prices for household wealth and consumer spending and borrowing have been scrutinized by macroeconomists on Wall Street, the Federal Reserve, and in academia.
ATTORNEY'S FEES, CIVIL PROCEDURE, CONTRACTS, INJURY AND TORT LAW, PROFESSIONAL MALPRACTICE, PROPERTY LAW & REAL ESTATE Charnay v. Cobert, No B188087 (Cal. 2d App. Dist. November 28, 2006) In case involving suit against plaintiff's former attorney and his law firm, sustaining of demurrer without leave to amend fourth amended complaint for professional negligence/legal malpractice, breach of fiduciary duty, breach of contract, fraud and negligent misrepresentation, is reversed where each cause of action is adequately pleaded.
ELDER LAW, HEALTH LAW, PROBATE, TRUSTS & ESTATES Estate of Odian, No E036685 (Cal. 4th App. Dist. November 28, 2006) Findings that paid live-in companion for deceased, who inherited entire estate, had exercised undue influence to make herself the sole beneficiary of trusts, wills and annuities, that deceased lacked legal capacity when she executed trusts and annuity contracts, and that appellant was a care custodian and thus disqualified as a beneficiary, are affirmed where appellant failed to rebut the presumption of undue influence which arose from undisputed evidence that she was a care custodian.
Oaks Mgmt. Corp. v. Superior Ct. (Ayyad), No D047857 (Cal. 1st App. Dist. November 30, 2006) Disqualification of law firm from representing plaintiffs at trial, based on lender-borrower relationships between two of the firm's attorneys and a defendant that ended several years before this litigation commenced, was error as defendant did not meet his burden of showing that the confidential financial information received by the attorneys could give the plaintiffs an unfair advantage or affect the outcome of this litigation.
Matera v. McLeod, No. B186714 (Cal. 2d App. Dist. November 22, 2006) Default judgment entered against defendants is reversed where plaintiffs failed to provide actual notice of the amounts of damages sought a reasonable time before the entry of defaults, and defendants are entitled to mandatory relief from the defaults and default judgment based on their attorney's declaration of fault.
November 25 / 26, 2006 CounterPunch.org Speak Up, Mr. Rohatyn The Trouble with the Bubble By RALPH NADER The torrid pace of risks and valuations reached a new level in the business known as Real Estate Investment Trusts (REITs). Required by federal law to pass on most of their earnings to their shareholders, REIT shares have been going up and up for eight straight years, with this year clocking an unexpected 30% rise all by itself for commercial real estate. Judging by the absence of warnings from financial writers and columnists about soaring REIT stocks and the recent record prices paid by debt-loaded private-equity firms to buy publicly held REITs listed on the stock exchanges, the tempo is still bullish-full speed ahead! That's when you know that trouble with this bubble lies on the horizon. When it's all bulls and no bears.
(homebuilder-lender) the inflated appraisal number Homebuilders, real estate agents and mortgage lenders have created the environment that will give us a continuation of the deteriorating US real estate market in 2007 based research by Americas Watchdog (http: //AmericasWatchdog.com) The Top five Real Estate Issues Facing US Consumers in 2007
A GU I D E F O R U N D E R S TA N D I N G T H E 2008 REAL PROPERTY APPRAISER QU A L I F I C AT I O N CR I T E R I A
Pac. Gas & Elec. Co. v. Superior Court of San Joaquin County, No. C053352 (Cal. 3d App. Dist. October 24, 2006) In an insurer's action against PG&E for property damages arising from an industrial power failure that injured its insured, a petition for a writ of mandate challenging a denial of PG&E's motion to strike a prayer for recovery of insured-nonparty's deductible is granted where the administrative regulation relied on by the insurer did not authorize it to recover its insured's deductible in litigation.
BANKING , BANKRUPTCY , CIVIL PROCEDURE, CONTRACTS, LANDLORD TENANT , & REAL ESTATE First Ave. W. Bldg., LLC v. James, No. 04-35324 (9th Cir. February 23, 2006) District court order permitting a bankrupt tenant's trustee to pursue recovery from the landlord of damages up to the full amount of the tenant's security deposit, including a letter of credit, is affirmed where: 1) the landlord forfeited a timeliness issue; 2) rejection of a lease did not bar the trustee's action; and 3) the bankruptcy court clearly erred in finding it had no jurisdiction over the claim.
Western States Petroleum Ass'n v. S. Coast Air Quality Mgmt. Dist., No. B181303 (Cal. 2d App. Dist. February 15, 2006) Denial of a writ of mandate challenging a rule adopted by defendant, an air quality management district, requiring the oil refineries in its jurisdiction to reduce certain emissions is affirmed where: 1) substantial evidence supported defendant's findings of feasibility and cost effectiveness, and 2) defendant complied with the applicable California Environmental Quality Act requirements, and 3) substantial evidence supported the trial court's findings regarding the record.
Combs v. State Farm Fire & Cas. Co., No. A111813 (Cal. 1st App. Dist. October 16, 2006) Summary judgment for defendants, rejecting plaintiff's claim for defendants-insurers' refusal to reimbuse him for attorney fees he was ordered to pay the prevailing party in a prior action against him for housing discrimination, is affirmed over claim that trial court erred in holding that Insurace Code section 533 precludes reimbursement of plaintiff's attorney fees for which he was held liable, that were covered by a supplementary payments provision of his policy.
2 Agencies Will Examine Real Estate Agent's Deals Skip directly to the full story. By SHANNON BEHNKEN The Tampa Tribune Published: Oct 24, 2006
TBO.com Site Search | Tribune archive from 1990 TAMPA - The state attorney general opened a criminal investigation Monday into inflated real estate transactions in Pinellas and Hillsborough counties. A second state agency that oversees real estate professionals is asking appraisers and at least one real estate broker for records connected to the deals, revealed Sunday in a Tampa Tribune investigation. Attorney General Charlie Crist said the economic crime division, based in Tampa, will look into 36 sales by Tampa real estate agent Dawn L. Molen. The Tribune story showed that Molen's sales had recorded sales prices of an average of $60,000 above the original list price.
Chee v. Amanda Goldt Prop. Mgmt., No. A107918, A108822 (Cal. 1st App. Dist. October 16, 2006) Judgment for defendants in case seeking damages for personal injuries plaintiff suffered when a dog belonging to a tenant of the unit next door jumped on plainitiff, and postjudgment award of fees, are affirmed where defendants had no duty to plaintiff to protect her from the dog, the landlord is not liable for a nuisance created by the tenant in terms of allowing the dog to run off-leash, claims that defendants were vicariously liable or that they breached a contract fail as a matter of law, and the court did not err in determining that the prevailing party was entitled to fees incurred in defense of contractual and declaratory causes of action.
Our Claim Alert bulletins provide information about litigation trends and effective defense advice. Following is a partial list of Claim Alerts we began publishing in 1992. Although some of the topics may seem dated, the concept is still applicable and will provide useful general information, beneficial to your appraisal practice.
Cheviot Vista Homeowners Ass'n v. State Farm Fire & Cas. Co., No B182575 (Cal. 2d App. Dist. October 19, 2006) Summary judgment in favor of defendant insurer in homeowner association's action concerning adjustment of its property damage losses from the 1994 Northridge earthquake is affirmed over claims that: 1) defendant's failure to investigate plaintiff's newly discovered earthquake damage constituted a breach of the insurance contract and bad faith; 2) evidence of newly discovered earthquake damage -- estimated at more than seven times the cost-of-repair estimate prepared by defendant in 1994 -- created a triable issue of material fact regarding whether in 1994 defendant failed to adequately investigate and evaluate its earthquake damage claim; and 3) the methodology used by defendant in 1994 to calculate the amount of its loss was impermissible.
Remodeling Activity Indicator Points to Weakening Home Improvement Market Remodeling Activity Indicator for Third Quarter 2006 Released CAMBRIDGE, MA – Through the third quarter of 2006, homeowner remodeling spending continued to show signs of easing. According to the Remodeling Activity Indicator (RAI) devised by Harvard’s Joint Center for Housing Studies, homeowners spent an estimated 160.5 billion dollars on home improvements and repairs over the past four quarters, representing only a 1.6% increase compared to the previous four quarters.
BASIC SPECIFICATIONS FOR THE APPRAISAL OF RECREATION RESIDENCE LOTS These specifications replace Section C of the Basic Specifications for Real Property Appraisal in total. They are intended for use in the appraisal of recreation residence lots. The procedures for identifying, inventorying, and preparing for the appraisal of these lots are included in FSH 2709.11, Chapter 30.
ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER September 27, 2006 MORTGAGEE LETTER 2006-26 TO: ALL APPROVED MORTGAGEES ALL FHA ROSTER APPRAISERS SUBJECT: Updates to the FHA Appraiser Roster: Streamlined Appraiser Examination, Roster Renewal Procedures, and Contact Information Effective October 1, 2006, the Federal Housing Administration (FHA) Appraiser Roster Examination has been streamlined and the examination fee eliminated. In addition, the appraiser contact information and appraiser license or certification roster renewal procedures have been revised. To be eligible for placement on the FHA Appraiser Roster an appraiser must: a) pass a Department of Housing and Urban Development examination on FHA appraisal methods and reporting; b) be a state-licensed or state-certified appraiser with credentials based on the minimum licensing/certification criteria issued by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation; and c) not be listed on the General Service Administration (GSA) Excluded Parties List System (EPLS), HUD’s Limited Denial of Participation List (LDP), or HUD’s Credit Alert Interactive Voice Response System (CAIVRS).
Alleged real estate scam: Not get-rich-quick scheme Sunday, October 1, 2006 By DEBBIE HALL - Bulletin Staff Writer Clara Pilson knows the process of obtaining a mortgage, but did not realize she was applying for loans totaling more than $1 million when she joined a local real estate investment group. Her involvement in the alleged scam “makes you feel real stupid,” said Pilson, of Henry County. For instance, “I know when you’re buying a house, you’re supposed to have an attorney and a notary (public) there,” she said. But because this was a group venture, she thought it operated differently. The alleged real estate scam, which involves area residents who claim they were duped into buying properties in Indiana, began innocently enough through word of mouth in a beauty shop operated by Sharon Penn in the home she shares with her mother, Beulah Penn, Pilson and other reports have said. “This was not a ‘get rich quick scheme,’” Pilson said. Rather, it was an invitation from someone she considered a friend.
Red Mountain, LLC v. Fallbrook Pub. Util. Dist., No d044546a.pdf (Cal. 4th App. Dist. September 25, 2006) Judgment for plaintiff for breach of contract, inverse condemnation, and compensation for direct taking in eminent domain, and attorney fees and costs, is reversed as the trial court's erroneous interpretation of an access easement and its misdirection of the jury on that point prejudicially affected the outcome of the trial with respect to plaintiff's claims for inverse condemnation and breach of contract, and these errors, in turn, may have prejudicially affected the jury's determination of just compensation on defendant's direct condemnation claim. (Amended)
California Farm Bureau Fed'n v. California Wildlife Conservation Bd., No. C049919 (Cal. 3d App. Dist. September 21, 2006) Grant of peremptory writ of mandate directing defendants to set aside approval of a project involving the conversion of agricultural land into wildlife habitat and exempting the project from CEQA, and orders granting attorney fees, are affirmed as the project is not categorically exempt from CEQA, nor does it fall within the common sense exemption to CEQA, and plaintiffs are successful parties who vindicated an important right that are entitled to attorney fees.
GAO: Better Info on Mortgage Risks By JEANNINE AVERSA AP Economics Writer (AP) - WASHINGTON-Federal regulators need to do a better job of explaining to people the workings and potential risks of interest-only and other nontraditional mortgages, congressional investigators said Wednesday. Nontraditional home loans that once were mostly the domain of the wealthy, especially interest-only mortgages and option adjustable-rate mortgages, have exploded in popularity in recent years as people stretched to buy high-priced homes during the housing boom. "Although lenders and certain brokers are required to provide borrowers with written disclosures at loan application and closing, federal standards on these disclosures do not currently require specific information on (alternative mortgage products) that could better help borrowers understand key terms and risks," the Congress' General Accountability Office said in a report released Wednesday. Borrowers and lenders with such mortgages could get clobbered if housing prices drop or if interest rates were to shoot up.
Most Recent Articles from Journal of Real Estate Practice and Education Editorial Board Representation: An Alternative Method for Ranking Real Estate Programs Abstract. This paper provides a ranking of the academic standing of real estate programs based on faculty representation to the editorial boards of leading ... 1/1/04 by Urbancic, Frank R · More from publication · Save A Study into the Important Elements of a Masters Degree in Real Estate Abstract. This paper reports the methodology utilized by the members of the University of San Diego's Burnham- Moores Center for Real Estate to develop ... 1/1/04 by Galuppo, Louis A · More from publication · Save Salesperson Bonuses and Their Impact on Residential Property Price and Time on Market Abstract. This paper investigates the impact on both sales price and marketing time of offering a bonus to the selling broker of property. Recognizing ... 1/1/04 by Johnson, Ken H · More from publication · Save Mass Appraisal: An Introduction to Multiple Regression Analysis for Real Estate Valuation Focus This case study presents an introduction to the basics of real estate appraisal and multiple regression analysis; in particular, as used in real ... 1/1/04 by Benjamin, John D · More from publication · Save A Hierarchical Linear Model Approach for Assessing the Effects of House and Neighborhood Characteristics on Housing Prices Abstract. This pedagogical paper illustrates how a hierarchical linear model (Raudenbush and Bryk, 2002) can be used by researchers and practitioners to estimate housing prices as a function of both 1/1/04 by Brown, Kenneth H · More from publication · Save A Pedagogical Tool to Assist in Teaching Real Estate Investment Risk Analysis Abstract. This paper presents a simple Excel model that provides measures of the standard deviation of forecasted internal rate of return (IRR) given traditional data inputs such as annual cash flows 1/1/04 by Weaver, William · More from publication · Save
Please Join Mayor Antonio Villaraigosa in celebrating our new success story as the City's Adaptive Reuse Program reaches yet another milestone. As of now, and using this Program, we have successfully COMPLETED (sold or rented) 4,047 units of Adaptive Reuse Lofts - please see the attached spreadsheet for the complete list of these projects. Delivering over 4,000 units, having about 4,000 units under construction, and with another 3,000 units currently in the pipeline, the City's six-billion-dollar Adaptive Reuse Program is moving forward solidly. Hamid Behdad, PE Office of Mayor Antonio R. Villaraigosa 200 N Spring Street, 13th Floor Los Angeles, CA 90012 (213)978-0783...............Direct (213)978-0780...............Fax
California Farm Bureau Fed'n v. California Wildlife Conservation Bd., No C049919 (Cal. 3d App. Dist. September 22, 2006) Grant of peremptory writ of mandate directing defendants to set aside approval of a project involving the conversion of agricultural land into wildlife habitat and exempting the project from CEQA, and orders granting attorney fees, are affirmed as the project is not categorically exempt from CEQA, nor does it fall within the common sense exemption to CEQA, and plaintiffs are successful parties who vindicated an important right that are entitled to attorney fees.
Colony Hill v. Ghamaty, No D046702 (Cal. 4th App. Dist. September 15, 2006) Judgment for plaintiff on declaratory relief action, involving rental of rooms in a condominium violating CC&Rs imposed by a common interest subdivision that restricted homes' use to single-family dwelling purposes, is affirmed over plaintiff's claim that he committed no violation by merely engaging in the incidental renting of rooms in his home to friends he considers to be like family. Appeal of attorney fee award is dismissed.
CONSTRUCTION, & REAL ESTATE, WATER Barnes v. Hussa, No C049163 (Cal. 3d App. Dist. February 24, 2006) A judgment for plaintiffs in a dispute over a pipeline used by plaintiffs to divert water from a creek for use on their ranch is affirmed where the trial court properly found that plaintiffs had an irrevocable license to continue using the pipeline, they were not violating a court decree in their use of the pipeline, and defendants did not prove their forfeiture claim.
CIVIL PROCEDURE, DEBT COLLECTION, ETHICS & DISCIPLINARY CODE, ETHICS & PROFESSIONAL RESPONSIBILITY, PROFESSIONAL MALPRACTICE, PROPERTY LAW & REAL ESTATE Fritz v. Ehrmann, No B178701 (Cal. 2d App. Dist. February 24, 2006) Summary judgment for defendant-attorney pursuant to a statute of limitations defense in a malpractice action relating to a promissory note prepared by defendant is reversed where the facts did not indisputably show that the statute accrued until shortly before prior litigation commenced, and the statute was tolled while defendant represented plaintiff in that litigation.
California Appellate Districts ADMINISTRATIVE , EDUCATION , HEALTH Excelsior College v. California Bd. of Registered Nursing, No C047824 (Cal. 3d App. Dist. February 23, 2006) A judgment for agency-defendant pursuant to its demurrer to a school's challenge of its interpretation and application of a statute involving nurse licensure is affirmed since the statute at issue does not require defendant to make prospective evaluations of out-of- state programs such as plaintiff's, and plaintiff has no right to an administrative hearing on defendant's interpretation and application of the provision.
Bardin v. Daimlerchrysler Corp., No G034590 (Cal. 4th App. Dist. February 23, 2006) Judgment for defendant, car marker, pursuant to its demurrer to a complaint alleging violations of the unfair competition law and the Consumer Legal Remedies Act based on defendant's use of tubular steel in the exhaust manifolds of certain vehicles instead of cast iron is affirmed where plaintiffs failed to state a claim under any of their causes of action.
CONTRACTS, HEALTH , INJURY AND TORT , INSURANCE , & REAL ESTATE Benavides v. State Farm Gen. Ins. Co., No B179028 (Cal. 2d App. Dist. February 23, 2006) Judgment entered against defendant-insurer on a negligent investigation claim after a jury trial in an action based on the presence of mold in condominium units is reversed where plaintiff could not recover for the negligent handling of her claim because there was no coverage under the terms of the policy, and none of the circumstances which allow for a contract claim to be pursued as a tort cause of action were present.
From: HUD USER News The official newsletter of HUD's Office of Policy Development and Research, ResearchWorks, now offers free subscriptions to its email-based electronic edition. Published ten times each year, our newsletter continues to serve as a bridge for the research and practitioner communities by featuring research news, case studies, and stories highlighting the efforts of those who care about housing. ResearchWorks is a valuable tool for those dedicated to making housing more affordable, more accessible, more energy and resource efficient, and above all, more readily available. Future issues will feature the latest research on Hispanic homeownership, lean production techniques for factory-built housing, targeted community investment outcomes, and the choices that confront low-income and minority families as they become first-time homeowners. To ensure that you don't miss an issue, sign up for your FREE subscription to either the print or email versions of ResearchWorks at http://www.huduser.org/emaillists/subscr.html. To view the current issue, visit http://www.huduser.org/periodicals/ResearchWorks/ResearchWorks_JulyAug06.pdf and click on "open the PDF file".
Los Angeles Basin Industrial, 2Q06 Vacancy rates of just 3.2R0and a lack of vacant land in Los Angeles and Orange Counties and, recently, in the West Inland Empire, have stimulated a construction boom in the East Inland Empire. Rental rates remained firm and sale prices per SF continued to climb. 16.7 million SF is underway there.
East Inland Empire Industrial, 2Q06 Very strong growth in demand for industrial space and a scarcity of vacant industrial land in most of the Los Angeles Basin has led to a construction boom in the East Inland Empire. Given the emergence of this area as a major industrial market, Colliers is now reporting on it on a quarterly basis.
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South Bay Industrial, 2Q06 The vacancy rate in the South Bay industrial market remained very low, at 2.6å20 Demand remained strong and construction activity restrained; the market is projected to remain hyper-tight into the foreseeable future.
HUD SETTLES CASES AGAINST NEW ENGLAND ATTORNEY AND PROPERTY APPRAISAL FIRM FOR PAYING KICKBACKS FOR REFERRALS Settlements follow last year’s RESPA action against New England lender. In a separate settlement, HUD determined that Grasso Appraisal Services (Grasso) of Burlington, Massachusetts paid kickbacks to East-West and its employees in the form of restaurant gift certificates given in exchange for the referral of appraisal business. Grasso agreed to make a settlement payment to the U.S. Treasury in the amount of $4,000.
Red Mountain, LLC. v. Fallbrook Pub. Util. Dist., No D044546 (Cal. 4th App. Dist. August 18, 2006) Verdict for plaintiff for breach of contract and inverse condemnation, compensation for a direct taking in eminent domain, and award of attorney fees and costs, is reversed as to the portion of the judgment awarding damages for breach of contract and inverse condemnation and the order awarding litigation expenses.
Tilton v. Reclamation Dist. No. 800, No A112185 (Cal. 1st App. Dist. September 01, 2006) In case involving home property damage caused by breached levees, sustaining of demurrers to several causes of action without leave to amend and one cause of action with leave to amend, followed by plaintiffs' opting to dismiss complaint with prejudice, are affirmed over claims that the trial court erred in: 1) the legal bases upon which it sustained, without leave to amend, defendant's demurrers; 2) granting special demurrers and a motion to strike.
REAL ESTATE PURCHASE AGREEMENT FOR ACQUISITION OF REAL PROPERTIES LOCATED AT 150 S. MONTGOMERY STREET, 115 AUTUMN STREET AND 510 W. SAN FERNANDO STREET
-3. Both statute and case law require that the value of each tax lot be separately assessed. ORS 308.205; ORS 308.215; ORS 308.232; ORS 308.240; ORS 308.245; (2) First Interstate, 306 Or at 453 (holding that statutory reference to property and parcel are synonymous with tax lot); Neupert, 13 OTR at 411. The "value" to be determined is real market value. ORS 308.205(1); ORS 308.215(1)(e). And, as Plaintiffs point out, "the assessor must establish a separate real market value for each parcel on a stand-alone basis." Neupert, 13 OTR at 411. A fundamental consideration in determining market value is highest and best use. The determination of highest and best use, in turn, is based on market forces. The "'analysis identifies the most profitable, competitive use to which the property can be put.'" Fred Meyer, Inc. v. Dept. of Rev., 12 OTR 85, 87 (1991), quoting Appraisal Institute, The Appraisal of Real Estate 269 (9th ed 1987). In addition, due consideration must be given to "applicable land use plans, including current zoning and other governmental land use restrictions." ORS 308.235(1)(a). Plat approval clearly falls within this category. 4. With those principles in mind, it becomes evident that to the extent the approval for the rural planned subdivision has an impact on the market value of the three individual tax lots at issue, such approval must be considered in valuing the property for assessment purposes. As Defendant points out, Plaintiffs spent considerable time and money obtaining subdivision approval and without such approval each of the three tax lots would support considerably fewer homesites than allowed under the subdivision plat.
The witness testified that he utilized the sales comparison approach in valuing the subject property as vacant commercially developable land. The sales comparison approach to valuation involves the presentation and analysis of statistics regarding sales of similar properties with the same highest and best use. The witness stated that Exhibit 1 contains statistical information regarding eight comparable sale properties. Defense counsel objected to the inclusion of information regarding a purchase offer contained within Exhibit 1. The Court sustained the objection on the basis that an offer of purchase is inadmissable to show market value (Brummer v State of New York, 25 AD2d 245; School Dist. #13 of Town of Huntington v Wicks, 227 NYS2d 768).
ETHICS & DISCIPLINARY CODE, ETHICS & PROFESSIONAL RESPONSIBILITY, PROFESSIONAL MALPRACTICE, PROPERTY & REAL ESTATE Gackstetter v. Frawley, No B173070 (Cal. 2d App. Dist. January 25, 2006) Denial of defendant-attorney's summary judgment motion in an action for breach of fiduciary duties, professional negligence and additional claims by plaintiff-trustee is reversed where defendant's good faith settlement of an underlying malpractice action brought by trust beneficiaries against him barred plaintiff-trustee's claims.
What is Building Commissioning? Michael Dadjou, PinnacleOne In essence, building commissioning is similar to the commissioning of a ship. The captain (or, in this case, commissioning consultant) takes the building for a trial run PRIOR to opening the building for occupancy. The performance of the building is compared to specifications (and expectations) and areas requiring correction are identified.
Developers Raising Roof Over Rights to Downtown’s ‘Hot’ Air By ANDY FIXMER Los Angeles Business Journal Staff There is nearly $100 million worth of thin air sitting on top of the Los Angeles Convention Center – and downtown boosters want the financially strapped city to cash in on it.
California Appellate Districts Strebel v. Brenlar Invs., Inc. (01/12/06 - No. A104681) Judgment of damages for plaintiff in a real estate fraud case involving plaintiff's contract to buy an encumbered house is affirmed where there was no error in trial court's allowing a jury to include lost appreciation in the value of plaintiff's sold home, and lost use of plaintiff's property in the measure of recovery.
CIVIL PROCEDURE, CONTRACTS, INSURANCE , & REAL ESTATE 1231 Euclid Homeowners Ass'n v. State Farm Fire & Cas. Co., No B175242 (Cal. 2d App. Dist. January 20, 2006) Summary judgment for defendant on breach of contract and breach of the implied covenant of good faith and fair dealing claims against defendant-insurer involving damages resulting from the Northridge earthquake is affirmed where plaintiff-homeowners association's earlier withdrawal of claims excused defendant from further performance of any coverage obligation under its policy and precluded plaintiff's claims.
CIVIL PROCEDURE, GOVERNMENT , LANDLORD TENANT , PROPERTY & REAL ESTATE, REMEDIES Carson Gardens, L.L.C. v. City of Carson Mobilehome Park Rental Review Bd., No B180308 (Cal. 2d App. Dist. January 17, 2006) Trial court order declaring a decision by defendant-rent control board null and void, and setting a rent increase based on methodology defendant had considered and rejected is reversed where the trial court exceeded its authority by setting the amount of a rent increase itself instead of remanding the matter to the board.
PROPERTY & REAL ESTATE Torres v. Torres, No B179146 (Cal. 1st App. Dist. January 17, 2006) Judgment for defendants in a quiet title action disputing the validity of a certain power of attorney is affirmed where a valid power of attorney was created even though in using the statutory form the principal placed an X instead of her initials next to the line conferring the powers.
ATTORNEY'S FEES, DEBT COLLECTION, GOVERNMENT , & REAL ESTATE, WATER LAW Souza v. Wetlands Water Dist., No F045293 (Cal. 5th App. Dist. January 17, 2006) Judgments and award of attorney's fees in favor of plaintiffs, farmland owners, against defendants, a water district and finance company, is reversed in a dispute over certain assessed water charges where the district court's conclusions were in error.
lCOMMUNICATIONS , CONSTRUCTION, GOVERNMENT , PROPERTY & REAL ESTATE Sprint PCS Assets, L.L.C. v. City of La Canada Flintridge, No. 05-55014 (9th Cir. January 17, 2006) Summary judgment in favor of defendant-municipality upholding certain permit denials involving wireless telecommunications facilities based on aesthetic impact is reversed where defendant overstepped its regulatory authority under state law, its wireless ordinance is invalid, and no evidence supported the permit denial.
Metro. Water Dist. of S. California v. Campus Crusade for Christ, Inc., No E034248 (Cal. 4th App. Dist. January 09, 2006) Judgment of damages in an eminent domain action to condemn land owned by defendants to construct a water pipeline is reversed where the trial judge erred in overruling a prior judge's earlier evidentiary rulings in the case, in allocating the burden of proof as to severance damages, and defendants offered substantial evidence that should have been presented to a jury in determining the amount of just compensation.
(Property Tax and Domestic Partners - eff. 2006-7 fiscal year) Beginning the lien date for the 2006-07 fiscal year, SB 565 permits registered domestic partners to transfer property to each other without triggering a reassessment and taxation at the current market value. As a result, registered domestic partners will be treated the same as spouses under California property tax laws.
Mortgagee Letter 2005-19 (ML 05-19) announced the Streamlined (k) Limited Repair Program to augment FHA's existing Section 203(k) rehabilitation program for less extensive repairs and improvement. This Mortgagee Letter replaces in its entirety ML 05-19 and is designed to make the program more reflective of the desire of many homebuyers and existing homeowners to improve their homes including making them more energy efficient...
FEATURE: 2005 COST vs. VALUE REPORT Remodeling's Payoff Residential Appraisal Minor Kitchen Remodel Project Description: In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers. Replace wall oven and cooktop with new energy- efficient models. Replace laminate countertops. Install midpriced sink and faucet. Repaint trim, add wall covering, and replace existing flooring with resilient flooring. Commercial Appraiser
Newport Beach Country Club, Inc. v. Founding Members of the Newport Beach Country Club, No G035099 (Cal. 4th App. Dist. June 26, 2006) When a trial court judgment decides a case on two alternate grounds, and the appellate court affirms based on one ground, the judgment is binding under principles of res judicata and collateral estoppel only on the ground addressed by the appellate court.
PROBATE, TRUSTS & ESTATES Estate of Saueressig, No. S129110 (Cal. June 22, 2006) Probate Code section 6110(c), which requires that a will be signed by two witnesses, requires attestation prior to the testator's death.
Gilroy Citizens for Responsible Planning v. City of Gilroy, No. H028539 (Cal. 6th App. Dist. June 22, 2006) Denial of writ petition challenging certification of Environmental Impact Report and approval of construction of a Wal-Mart Supercenter is affirmed over claims that defendant city: 1) failed to provide the legally-required 45-day notice of availability of the draft EIR; 2) did not serve the commenting agencies with either responses to comments or the final EIR; 3) failed to complete an initial study which was necessary before it could rely on a report on economic impacts; and 4) did not follow CEQA's required procedures in determining whether urban decay impacts should be addressed in the EIR. In addition, the EIR: 5) excluded an analysis of the Supercenter's blight and urban delay impacts; 6) failed to provide meaningful consideration of proposed mitigation measures; and 7) failed to properly analyze certain traffic impacts.
BANKING , CONSUMER PROTECTION , CRIMINAL & PROCEDURE, INJURY AND TORT , PROPERTY LAW & REAL ESTATE CTC Real Estate Servs. v. Lepe, No B185320 (Cal. 2d App. Dist. June 21, 2006) The victim of an identity theft, whose name and other personal information were used without authorization for the purpose of obtaining a loan secured by a purchase money deed of trust to acquire real property, may, as the only claimant, recover undistributed surplus proceeds deposited with the court that remained after a trustee sale of the property and the satisfaction of creditors.
COMMUNICATIONS , GOVERNMENT , PROPERTY & REAL ESTATE, PUBLIC UTILITIES Sprint Telephony PCS v. County of San Diego , No. D045957 (Cal. 4th App. Dist. June 20, 2006) Trial court's upholding of defendant county's Wireless Telecommunications Ordinance (WTO) is affirmed over claims that: 1) wireless telecommunications providers enjoy the privileges conferred by Public Utilities Code section 7901 to install necessary equipment in a public right of way; and 2) the scope of the privileges accorded by section 7901 preclude local governments from imposing design and siting restrictions when a wireless telecommunications provider exercises the privilege to place equipment in a ROW.
CONSTITUTIONAL , GOVERNMENT , TENANT , & REAL ESTATE Hillsboro Props. v. City of Rohnert Park , No A110441 (Cal. 1st App. Dist. April 06, 2006) A property owner prevented from charging increased rent by a rent control ordinance eventually ruled unconstitutional is not entitled to recover the lost rental income, either from its tenants or from the city that imposed the limit, if the ordinance did not deny the owner a fair return on its investment.
Mayer v. L & B Real Estate, No B180540 (Cal. 2d App. Dist. February 14, 2006) Judgment quieting title in an action brought by plaintiffs to restore their ownership of commercial property that was sold by a county tax collector to defendant, real estate company, for unpaid property taxes is reversed where plaintiffs had constructive and actual notice of the tax sale, and thus had time to comply with a one-year statute of limitations period.
ADMINISTRATIVE , ENVIRONMENTAL , GOVERNMENT , PROPERTY & REAL ESTATE Hale v. Norton, No. 03-36032 (9th Cir. February 09, 2006) Denial of a motion for a temporary restraining order and dismissal of plaintiffs' case for lack of subject matter jurisdiction is affirmed in a case challenging an agency's regulation of plaintiffs' use of a trail crossing federally protected land to access their property which was surrounded by the federal park at issue.
City & County of San Francisco v. Ballard, No A107227, A108569 (Cal. 1st App. Dist. February 02, 2006) An award of attorney's fees to defendant, a building owner, in an action by a municipality alleging that defendant's building was a public nuisance is reversed where the statute at issue under which fees were awarded only applies to receivership proceedings, which did not occur in the case.
GOVERNMENT , LANDLORD TENANT , & REAL ESTATE Apartment Ass'n of Los Angeles County, Inc. v. City of Los Angeles, No B179133 (Cal. 2d App. Dist. January 31, 2006) Judgment against defendant-municipality in a declaratory relief action invalidating a municipal ordinance is affirmed where an ordinance limiting certain charges a landlord could make from tenants in a housing assistance program is affirmed where the ordinance conflicts with, and is preempted, by another law.
CONSTITUTIONAL , CONSTRUCTION, GOVERNMENT , PROPERTY & REAL ESTATE D & M Fin. Corp. v. City of Long Beach, No B173977 (Cal. 2d App. Dist. January 31, 2006) Judgment for inverse condemnation in favor of a holder of a security interest in real property on which defendant-municipality demolished an alleged substandard apartment building is affirmed where defendant violated plaintiff's due process rights.
ENVIRONMENTAL , GOVERNMENT , & REAL ESTATE 108 Holdings, Ltd. v. City of Rohnert Park, No A108629 (Cal. 1st App. Dist. January 31, 2006) Judgment in favor of defendant- municipality on plaintiff's, property owner, challenge to certain actions is affirmed where defendant did not unlawfully surrender its police power or improperly amended its General Plan by entering into a settlement agreement to resolve environmental litigation brought against it.
Crawford v. Weather Shield Mfg., Inc. (02/01/06 - No. G032301) Order granting a new trial and judgment of the trial court in a construction defect case involving a window manufacturer are affirmed where there was no abuse of discretion in the grant of a new trial, the trial court correctly interpreted and adjudicated the subcontract at issue, and there was no abuse of discretion as to attorneys' fees.
Davis v. Newmar Corp. (02/01/06 - No. B174944) Judgment for plaintiff on a claim under the Song-Beverly Consumer Warranty Act involving plaintiff's purchase of a mobile home is reversed where the trial court erred in denying a pretrial motion to dismiss since the Act applies only to vehicles sold in California and plaintiff's motor home was not sold in California.
Taxpayer Alert for Property Tax Assessor Records Corp. This is an alert concerning a company that may be sending misleading letters to taxpayers. The company, Property Tax Assessor Records Corp. sends forms and letters to Los Angeles, Riverside and San Diego county property owners telling them that they have not filed Homeowners’ Exemption forms and they are entitled to file them. In many cases, these letters are sent to people who are not entitled to the exemption or to property owners who have already filed for the exemption. For a fee, the company offers to file a claim for exemption on the property owners’ behalf. The assessor’s office does NOT charge a fee to file the homeowners’ exemption claim form.
ADMINISTRATIVE , CIVIL PROCEDURE, CONSTITUTIONAL , ENVIRONMENTAL , GOVERNMENT , & REAL ESTATE Dunn v. County of Santa Barbara, No B175149 (Cal. 2d App. Dist. January 25, 2006) Judgment on the pleadings for defendant-county on regulatory takings claims, and constitutional and civil rights claims involving defendant's determinations as to a subdivision application is reversed where those claims are ripe for adjudication because defendant issued what amounted to a final decision, and the permissible use of the property is known to a reasonable degree of certainty.
COMMERCIAL , CONSTITUTIONAL , ENVIRONMENTAL , GOVERNMENT , & REAL ESTATE, RETAIL Wal-Mart Stores, Inc. v. City of Turlock, No. F047372 (Cal. 5th App. Dist. April 05, 2006) Order denying a writ of mandate regarding a city zoning ordinance prohibiting the development of "big box" retail stores containing a full service grocery department is affirmed over a claim that defendant city unconstitutionally exceeded its police powers and failed to comply with the California (Appraiser, sic) Environmental Quality Act. Commercial Appraiser
First Ave. W. Bldg., LLC v. James (02/23/06 - No. 04-35324) District court order permitting a bankrupt tenant's trustee to pursue recovery from the landlord of damages up to the full amount of the tenant's security deposit, including a letter of credit, is affirmed where: 1) the landlord forfeited a timeliness issue; 2) rejection of a lease did not bar the trustee's action; and 3) the bankruptcy court clearly erred in finding it had no jurisdiction over the claim.
Benavides v. State Farm Gen. Ins. Co. (02/23/06 - No. B179028) Judgment entered against defendant-insurer on a negligent investigation claim after a jury trial in an action based on the presence of mold in condominium units is reversed where plaintiff could not recover for the negligent handling of her claim because there was no coverage under the terms of the policy, and none of the circumstances which allow for a contract claim to be pursued as a tort cause of action were present.
JAMES C. MCDANIEL, Plaintiff-Appellant, No. 94-17158
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The case was a simple condemnation in Connecticut, Commissioner of Transportation v. Candlewood Valley Country Club, Inc. (2005 Conn. Super. LEXIS 3308, November 29, 2005). The state needed to take a portion of the Country Club for a road widening, and after conducting what appeared to be a simple appraisal, offered the Club $109,000. The Club countered with its own appraisal at $390,000. The court, reviewing the condemnation, used the phrase “lowest and worst” to describe the State’s appraisal, and awarded the Club more-or-less what they asked for, plus appraisers’ fees and interest.
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Commercial Appraiser and Real Estate Consultant, Los Angeles, CA
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Commercial Appraiser, Los Angeles, California
Commercial Appraiser and Real Estate Consultant, Los Angeles, California!->
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The Harris Company, Real Estate Appraiser / Consultant 5780 West Centinela Avenue, Building 1, Suite 408 Los Angeles, California 90045 310.337.1973 firstname.lastname@example.org