Eminent Domain and Real Estate Valuation Blog

https://eminentdomain.foxrothschild.com/

Fox's Eminent Domain and Real Estate Valuation Blog is a timely, practical resource for real estate professionals, property owners and condemnors who may be embarking upon a new project. Join David Snyder, Eminent Domain/Condemnation Practice Group Co-chair, as he offers useful commentary on developments in the law, project updates and helpful tips.

Recent Blog Posts

  • GA Supreme Court: Condemnees Must Be Given Appraisal Summary Before Condemnation The Georgia Supreme Court has ruled that the city of Marietta violated the Georgia Landowner’s Bill of Rights when it condemned a grocery store without providing a summary of its appraisal to the property owner. The City argued that these provisions were not mandatory. This was rejected by a unanimous Court explaining that the law is “an essential prerequisite to the filing of a petition to condemn,” and that because the city failed to fulfill that prerequisite, its petition to... More
  • Louisiana Supreme Court Hears Eminent Domain Case   The Louisiana Supreme Court heard oral arguments whether St. Bernard Parish port officials violated Louisiana’s eminent domain laws when they seized a privately run port operation along a mile of Mississippi River frontage in 2010. The property owner argued that port officials were trying to take the property at a bargain price and transfer it to a competitor. Louisiana law provides that “no business enterprise or any of its assets shall be taken for the purpose of operating that enterprise... More
  • Agencies Issue Temporary Exceptions To Appraisal Requirements In Hurricane Areas The Federal Reserve Board has issued a statement providing for temporary exception to appraisal requirements in hurricane areas affected by severe storms and flooding related to Hurricanes Harvey, Irma, and Maria. Below is that statement: Responding to widespread damage caused by Hurricanes Harvey, Irma, and Maria, four federal financial institution regulatory agencies today took action to facilitate the recovery process by temporarily easing appraisal requirements for real estate-related financial transactions in areas declared to be a major disaster. The agencies will not... More
  • Appraisal Groups Seek To Prevent Appraisal Waivers 35 appraiser organizations including the Appraisal Institute are asking Congress to prevent Freddie Mac and Fannie Mae from issuing appraisal waivers. Freddie and Fannie recently announced plans to no longer require appraisals for first purchase loans, as well as for mortgage refinancing. In a letter to the chairs and ranking members of the Senate Banking, Housing and Urban Affairs Committee and the House Financial Services Committee, the Appraisal Institute wrote: “We recognize that the Enterprises have, since 1994, been exempted... More
  • PA Considers Bill Prohibiting Condemnations Land Locking Properties A bill was introduced in the PA House of Representatives which stating that “in the case of a partial taking of the property of a condemnee, a condemnor may not render the remaining parcel inaccessible to the condemnee by creating a landlocked property with no ingress or egress to or from a public road or highway.” The bill contains an exception in the event the condemnee consents to that taking. The bill, HB 1773, was introduced on September 12, 2017... More
  • Freddie Mac OKs Appraisal Alternative for Some Mortgages Freddie Mac announced that it will utilize automated collateral evaluations to determine when an automated appraisal can be used for new home mortgages and refinancing. ACE uses data from multiple listing services, public records and historical home values to determine collateral risks. This decision was criticized by the Appraisal Institute. “Since 1994, the government sponsored enterprises have been exempted from appraisal requirements established by Congress on the basis that they would make responsible decisions,” said Appraisal Institute President Jim Amorin,... More
  • Developer Asks SCOTUS To Hear Fla. Takings Case A Florida developer petitioned the U.S. Supreme Court to hear a $10 million takings case against the Florida Department of Environmental Protection  The developer alleged that the DEP’s denial of a development permit for a beachfront parcel was an unlawful taking. The developer intended to build 17 luxury townhouse units Fort Pierce, Florida The trial court found the DEP’s denial constituted a taking. However, the Florida Court of Appeals reversed that decision and the Florida Supreme Court denied the developer’s petition to hear the case.... More
  • NC Announces Assessment Reappraisal Counties NC has announced that the following counties will begin the tax reassessment appraisal process of real properties in January 2018: BEAUFORT COUNTY                  MITCHELL COUNTY CLAY COUNTY                              ONSLOW COUNTY FRANKLIN COUNTY                   ROBESON COUNTY GRANVILLE COUNTY                 WATAUGA COUNTY      ... More
  • Feds Considering Rule Increasing Floor For Commercial Property Appraisals Federal agencies are considering raising the threshold for commercial real estate transactions requiring an appraisal from the current level of $250,000 to $400,000. The agencies including the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have stated that they believe raising the floor will greatly reduce the number of transactions that require an appraisal and save costs and expenses in these transactions.  The proposal requires that commercial real estate transactions at or below... More
  • NJ Adopts “Property Taxpayer Bill of Rights”   New Jersey has adopted a “property taxpayer bill of rights” seeking to assist property owners with the real estate assessment process. New Jersey has one of the nation’s highest property taxes. Bill A-4007 requires the state division of taxation director to list taxpayers’ real property rights “in simple and nontechnical terms” and post it on the website of the various county tax boards and municipalities in the state. It also provides taxpayers with the “right to understand the calculation of... More