Time Just Keeps On! ! !

Posted by Cochise on November 11, 2006 at 17:44:32:

Dateline:

Los Angeles, California

November 9, 2006

The Southern California Chapter of the Appraisal Institute

Thirty-Nineth Annual Litigation Seminar

And the hits just keep on coming.

This year’s seminar covered numerous topics including Does’ Anybody Really Know What Time It Is . . . Referring to the appraisal date in condemnation appraising. When the main topic or title could just as well been Does’ Anyone Really Know How to Appraise, considering how guest speaker after speaker attacked the audience, the Appraisal Institute, and the Appraisal Industry as a whole.

Speaker: John C. Murphy, Esq. Addressed a number of reasons why appraisal reports prepared for litigation are typically undervalued. The reasons included the appraisers use of old data, the agencies use of a low bid appraiser selection process, bulk appraisal approaches to value, and many property owners’ hesitation to fight a city hall.

Speaker: Karen McLaurin, Esq. An attorney for the Los Angeles Unified School District, blasted the district’s appraisers for poor quality appraisal work and included an example in which a district’s appraiser had increased the value or a residential property 5% in six weeks.

Speaker: Faith Mitchell, Esq., and arbitrator for the Los Angeles World Airports, played smash mouth politics when she asked the crowd “Does Anyone in the Room Think?” She was apparently angered by the audiences lack of response to one of her questions about the Departure Provision (DP) and the Uniform Standards of Professional Appraisal Practice (USPAP.)

Speaker: Keith Brogan, Esq., hinted there was a code of silence among Institute Appraisers when he stated you guys’ all like each other too much. To illustrate he presented a video clip of one expert that, while on the stand, admitted that the opposing expert was more qualified than he. He also suggested that there was too much data shareing between Institute Members.

One estimation of fact that was not brought out was that 95% of the appraisal prepared for condemnation cases are prepared by MAI Appraisers. We believe that this is due to one of the oldest appraisal myth that you must be a MAI appraiser to be qualified as an expert witness.

Footnote:

Makes one wonder why the appraisal institute no longer allows the recording of it’s speakers and pre-screens the questions asked by the audience.

Cochise!

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Los Angeles Word Airport, A Focus on Coruption

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IRWA/LAWA, a focus on Corruption

Posted by Cochise on October 25, 2006 at 11:35:44:

Dateline:
INTERNATIONAL RIGHT OF WAY ASSOCIATION (IRWA)
Chapter 1 –Los Angeles County
2006 Annual Fall Seminar

Tuesday, October 24, 2006
Quiet Cannon, Montebello, CA

The Los Angeles World Airport’s (LAWA) Director of Economic Development admits that the Manchester Square “Voluntary Purchase” Program is a part of LAWA’s Master Plan. This statement was supported by one staff member who presented maps indicating that this area has been set aside for parking.

This Freudian slip of the tough could have major legal consequences since under the agencies “voluntary purchase program” homeowners were not paid Fair Market Value which is “the highest price” required by State Law in condemnation cases.

For years Vivian Howell, an IRWA and LAWA mucky muck, has stated that we are not going to pay them “the highest price” because this is a voluntary program.

In addition to using unethical appraisal practices like using unqualified appraisal trainees, consultants colluding on values, standardized comparable adjustments, and in some cases- appraising of property based upon it’s existing use, rather than it’s “highest and best use.” It is estimated that these combined, secret practices, have cost property owners millions.

The Director also stated that he foresaw a number of inverse condemnation cases being filed against the, by current residents, because the LAWA project has left their neighborhood in a shambles.

If you are a homeowner, property, or seller of property to LAWA in this area we strongly suggest that you contact a qualified Real Estate Condemnation Attorney, or Relocat1on Expert, and demand a full hearing into these issues.

Cochise

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Commercial Real Estate Appraiser / Consultant

Please contact us for all your real estate needs: http://www.harriscompanyrec.com

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http://www.realestatejournal.com/commercial/
Trends in buying, selling, managing or investing in commercial properties
Mon, 31 Jul 2006 04:00:00 GMT
Mon, 31 Jul 2006 04:30:18 GMT

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Mon, 31 Jul 2006 04:00:00 GMT

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The state’s supreme court ruled unanimously that economic development isn’t a sufficient reason to justify eminent domain, putting a halt to a $125 million project of offices, shops and restaurants in a Cincinnati suburb.
Fri, 28 Jul 2006 04:00:00 GMT

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The city’s prosperous commercial real-estate market has driven development of new offices and stores, boosting rents for high-end space in office and retail properties.
Thu, 27 Jul 2006 04:00:00 GMT

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After several years of trailing the performance of most other real-estate investment trusts ‘multifamily’ REITs are now leading the pack. But the rosy outlook could be short-lived for these investments in apartment holdings
Wed, 26 Jul 2006 04:00:00 GMT

http://www.realestatejournal.com/indinvestor/20060725-morrissey.html?mod=RSS_Real_Estate_Journal&rejrss=commercial
Profit fell 9% and orders plummeted 39% in the quarter as the company, like others in the sector, struggles with a deteriorating housing market.
Tue, 25 Jul 2006 04:00:00 GMT

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Many are aggressively offering price cuts in high-profile promotion campaigns aimed at getting home buyers into their sales centers.
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The office, retail, warehouse and rental apartment sectors in the region are heating up, even as landlords grapple with skyrocketing insurance costs after Hurricanes Katrina and Wilma.
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