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PIRS/ HARRIS COMPANY AND THE SCIENCE OF REAL ESTATE - PARTNERS
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
ca appraiser, real estate appraiser los angeles, Appraiser-Appraisal,
Yahoo! Business Dictionary
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.
real estate appraiser los angeles, Appraiser-Appraisal,
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.
Instructions for Form 8283
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
Real Estate Appraiser, Appraiser Los Angeles,Los Angeles Appraiser, Commercial appraisal, Appraiser
Commercial, LA, L.A., Commercial Real Estate Appraiser, Commercial Real Estate Appraisal, Residential
Appraiser, Apartment Appraiser, Appraiser-Appraisal,
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
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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.
Supreme Court of California
CIVIL PROCEDURE, DEBT COLLECTION, ETHICS & PROFESSIONAL (Commercial Appraiser, sic) RESPONSIBILITY, & REAL
ESTATE, REMEDIES
Rusheen v. Cohen, No S123203 (Cal. February 23, 2006)
Where a cause of action is based on a communicative act, the litigation privilege of Civil Code section 47 extends to those
noncommunicative actions which are necessarily related to that communicative act.
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.
ca appraiserReal Estate Appraiser, Appraiser Los Angeles,Los Angeles Appraiser, Commercial appraisal, Appraiser
Commercial,
LA, L.A., Commercial Real Estate Appraiser, Commercial Real Estate Appraisal, Residential Appraiser, Apartment Appraiser,
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.
U.S. 9th Circuit Court of Appeals Carson Harbor Village, Ltd. v. County of Los Angeles (01/12/06 - No. 04-55024) Summary
judgment for defendant, oil company, denying plaintiff recovery of certain cleanup costs under the Comprehensive Environmental
Response, Compensation, and Liability Act is affirmed where there are no genuine issues of material fact regarding whether
plaintiff substantially complied with the National Oil and Hazardous Substances Pollution Contingency Plan.
AGRICULTURE, GOVERNMENT , & REAL ESTATE, PUBLIC UTILITIES
Placer County Local Agency Formation Comm'n v. Nevada County Local Agency Formation Comm'n, No C047697 (Cal. 3d App.
Dist. January 13, 2006)
Government Code section 56387 gives principal counties jurisdiction over spheres of influence and service reviews of multicounty
districts within neighboring counties. Judgment entered in favor of defendant in a dispute between neighboring Local Agency
Formation Commissions (LAFCO) under the Cortese-Knox-Hertzberg Local Government Reorganization Act is affirmed where
plaintiff failed to show grounds for reversal of the judgment.
ADMINISTRATIVE , ENVIRONMENTAL , GOVERNMENT , OIL & GAS , PROPERTY & REAL ESTATE
Carson Harbor Village, Ltd. v. County of Los Angeles, No. 04-55024 (9th Cir. January 12, 2006)
Summary judgment for defendant, oil company, denying plaintiff recovery of certain cleanup costs under the Comprehensive
Environmental Response, Compensation, and Liability Act is affirmed where there are no genuine issues of material fact regarding
whether plaintiff substantially complied with the National Oil and Hazardous Substances Pollution Contingency Plan.
CONSTRUCTION, GOVERNMENT , & REAL ESTATE, PUBLIC UTILITIES, REMEDIES
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.
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.
Federal Estate Tax Changes Take Effect In 2006
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.
Hotel valuation, Commercial Appraisal, is a taxing issue
Debate centers on how to account for factors like brand recognition Are two hotels, comparable in size, location, age and condition,
worth the same if one is a Ritz-Carlton and the other is an unbranded unknown?
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.
Howard S. Wright Constr. Co. v. BBIC Investors, LLC (01/31/06 - No. A109876)
Judgment for defendant following a non-jury trial in an action to foreclose a mechanic’s lien recorded against defendant's property
pursuant to a finding that the mechanic's lien was premature and therefore void is reversed where plaintiff recorded its claim of lien
after its contract was completed, upon the anticipatory breach of the other contracting party.
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.
California Appellate Districts
ATTORNEY'S FEES, CIVIL PROCEDURE, COMMERCIAL , CONSTRUCTION, CONTRACTS, MANUFACTURING, PRODUCT
LIABILITY, PROPERTY & REAL ESTATE
Crawford v. Weather Shield Mfg., Inc., No G032301 (Cal. 4th App. Dist. February 01, 2006)
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.
The National Association of Realtors is protesting rulings by the Office of the Comptroller of the Currency that the trade group says
"will inevitably lead to national banks becoming actively involved in real estate development and brokerage." The OCC regulates
banking activities.
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
v. D.C. No.
CV-93-00262-JET
APPRAISAL INSTITUTE, MAI
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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.
FREE PRODUCT INFO FROM ARCHITECT
As a valued subscriber to ARCHITECT magazine, we would like to welcome you to the ARCHITECT Online Product Information
Service. You can instantly request product and service information from our JAN 2007 issue.
By simply selecting one or more categories of interest, you can view the advertisements and product announcements for the
selected categories. You may request more information about products and services using our electronic reader service card with a
few clicks of your mouse
A collection of Articles on Airport Noise.
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
ca appraiser, real estate appraiser los angeles, Appraiser-Appraisal,
Yahoo! Business Dictionary
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.
real estate appraiser los angeles, Appraiser-Appraisal,
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.
Instructions for Form 8283
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
Real Estate Appraiser, Appraiser Los Angeles,Los Angeles Appraiser, Commercial appraisal, Appraiser
Commercial, LA, L.A., Commercial Real Estate Appraiser, Commercial Real Estate Appraisal, Residential
Appraiser, Apartment Appraiser, Appraiser-Appraisal,
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.
Supreme Court of California
CIVIL PROCEDURE, DEBT COLLECTION, ETHICS & PROFESSIONAL (Commercial Appraiser, sic) RESPONSIBILITY, & REAL
ESTATE, REMEDIES
Rusheen v. Cohen, No S123203 (Cal. February 23, 2006)
Where a cause of action is based on a communicative act, the litigation privilege of Civil Code section 47 extends to those
noncommunicative actions which are necessarily related to that communicative act.
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.
ca appraiserReal Estate Appraiser, Appraiser Los Angeles,Los Angeles Appraiser, Commercial appraisal, Appraiser
Commercial,
LA, L.A., Commercial Real Estate Appraiser, Commercial Real Estate Appraisal, Residential Appraiser, Apartment Appraiser,
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.
U.S. 9th Circuit Court of Appeals Carson Harbor Village, Ltd. v. County of Los Angeles (01/12/06 - No. 04-55024) Summary
judgment for defendant, oil company, denying plaintiff recovery of certain cleanup costs under the Comprehensive Environmental
Response, Compensation, and Liability Act is affirmed where there are no genuine issues of material fact regarding whether
plaintiff substantially complied with the National Oil and Hazardous Substances Pollution Contingency Plan.
AGRICULTURE, GOVERNMENT , & REAL ESTATE, PUBLIC UTILITIES
Placer County Local Agency Formation Comm'n v. Nevada County Local Agency Formation Comm'n, No C047697 (Cal. 3d App.
Dist. January 13, 2006)
Government Code section 56387 gives principal counties jurisdiction over spheres of influence and service reviews of multicounty
districts within neighboring counties. Judgment entered in favor of defendant in a dispute between neighboring Local Agency
Formation Commissions (LAFCO) under the Cortese-Knox-Hertzberg Local Government Reorganization Act is affirmed where
plaintiff failed to show grounds for reversal of the judgment.
ADMINISTRATIVE , ENVIRONMENTAL , GOVERNMENT , OIL & GAS , PROPERTY & REAL ESTATE
Carson Harbor Village, Ltd. v. County of Los Angeles, No. 04-55024 (9th Cir. January 12, 2006)
Summary judgment for defendant, oil company, denying plaintiff recovery of certain cleanup costs under the Comprehensive
Environmental Response, Compensation, and Liability Act is affirmed where there are no genuine issues of material fact regarding
whether plaintiff substantially complied with the National Oil and Hazardous Substances Pollution Contingency Plan.
CONSTRUCTION, GOVERNMENT , & REAL ESTATE, PUBLIC UTILITIES, REMEDIES
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.
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.
Federal Estate Tax Changes Take Effect In 2006
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.
Hotel valuation, Commercial Appraisal, is a taxing issue
Debate centers on how to account for factors like brand recognition Are two hotels, comparable in size, location, age and condition,
worth the same if one is a Ritz-Carlton and the other is an unbranded unknown?
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.
Howard S. Wright Constr. Co. v. BBIC Investors, LLC (01/31/06 - No. A109876)
Judgment for defendant following a non-jury trial in an action to foreclose a mechanic’s lien recorded against defendant's property
pursuant to a finding that the mechanic's lien was premature and therefore void is reversed where plaintiff recorded its claim of lien
after its contract was completed, upon the anticipatory breach of the other contracting party.
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.
California Appellate Districts
ATTORNEY'S FEES, CIVIL PROCEDURE, COMMERCIAL , CONSTRUCTION, CONTRACTS, MANUFACTURING, PRODUCT
LIABILITY, PROPERTY & REAL ESTATE
Crawford v. Weather Shield Mfg., Inc., No G032301 (Cal. 4th App. Dist. February 01, 2006)
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.
The National Association of Realtors is protesting rulings by the Office of the Comptroller of the Currency that the trade group says
"will inevitably lead to national banks becoming actively involved in real estate development and brokerage." The OCC regulates
banking activities.
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
v. D.C. No.
CV-93-00262-JET
APPRAISAL INSTITUTE, MAI
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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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A collection of Articles on Airport Noise.
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| We Make a Simple Pledge to Communicate, in a timely Fashion, each appraisal, analysis, and opinion without bias or partiality Abstain from behavior that is deleterious to our clients, the appraisal profession, and the public Hold paramount the confidential nature of the appraiser/consultant - client relationship and Comply with the requirements of the Uniform Standards of Professional Appraisal Practice and the Code of Professional Ethics of the National Society of Real Estate Appraisers |
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