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

  • Ill. Court: Tax Appeal Attorneys Not Engaged in Appraisal Practice The Circuit Court of Cook County, Illinois (Chancery Division) ruled that attorneys who referenced comparable property valuations and market values based on an income approach as part of tax appeal proceedings were simply engaged in the traditional practice of law and not in appraisal practice. In Illinois State Bar Association vs. Illinois Department of Financial and Professional Regulation, two attorneys were accused by the IDFPR of engaging in unlicensed appraisal practice after they submitted comparable property valuations, income approach information... More
  • Borrower Not Entitled To Attorneys’ Fees Under PA Act 6 Based Solely On Affirmative Defense The Pennsylvania Supreme Court held that a Philadelphia homeowner was not entitled to attorneys’ fees under a PA consumer protection law because filing affirmative defenses doesn’t qualify as filing an “action” under the law. In Bayview Loan Servicing LLC v. Rodger Lindsay, 15 EAP 2017, in response to a foreclosure complaint, a borrower alleged that the lender violated PA’s Loan Interest and Protection Law, also known as Act 6. The lender subsequently withdrew the complaint. The borrower sought a reimbursement of his legal... More
  • Ride Sharing May Decrease Values Near Subways and Bus Stops It is clear that ride sharing has impacted the real estate community. One possible change is the value of properties near subways and bus stops. According to Bloomberg, “ride-sharing services such as Uber Technologies Inc. and Lyft Inc., and the advent of electric vehicles and driverless cars, are poised to chip away at the higher prices that real estate around subways and bus stops has earned, according to a report from MetLife Inc.’s asset-management business released. . . . All these changes would make it more... More
  • Ohio Supreme Court Remands Lowe’s Tax Assessment Due To New Case Law The Ohio Supreme Court on Tuesday vacated an Ohio Board of Tax Appeals decision affirming a county appraiser’s $8.8 million valuation of a Lowe’s Inc. property. The Court found, in a 4-3 decision, that new case law required reconsideration. These new cases established that comparable properties used to determine a property’s market value generally must be adjusted to reflect any lease encumbrances that might affect sale prices. The case is Lowe’s Home Centers Inc et al., v. Washington County Board of Revision... More
  • Cal. Court Finds Appraiser Cannot Be Sued By Borrower If Appraisal Prepared For Lender Only The California Court of Appeal, Third Appellate District certified for publication its recent decision in Tindell v. Murphy. In that case, mortgage borrowers sued an appraiser saying they relied on his appraisal to purchase their home. The trial court had dismissed the suit because the borrowers were not intended users of the appraisal since the appraisal was prepared for the lender, and the Court of Appeal upheld that decision. A discussion of that case can be found at http://www.appraiserlawblog.com/2018/05/newly-published-california-case-helpful.html... More
  • Multiple States Considering Valuation Legislation The Appraisal Institute reported that 21 pieces of legislation affecting the valuation profession are pending in 14 states.  A list can be found at https://www.appraisalinstitute.org/advocacy/washington-report/washington-report-state-news-current-issue/#15... More
  • House Committee Passes USPAP Exemption Bill The House Financial Services Committee recently passed legislation exempting appraisers from having to conduct evaluations in accordance with the Uniform Standards of Professional Appraisal Practice for loans under $250,000 that were held in a portfolio for three years. Appraisals are not required for loans of $250,000 or less, but federal bank regulatory policy requires lenders to obtain an evaluation to understand the collateral risk involved with the loan. HR 3221 is intended to create greater flexibility for lenders.... More
  • PA Court Allows Adverse Possession Claim Against Municipality The PA Commonwealth Court recently held that a claim of adverse possession could be brought against a municipality when the municipality’s only use of the property during the statutory period was to hold the property for possible future sale. In City of Philadelphia v. Galdo, the City of Philadelphia obtained title to a property by condemnation in 1974. The City has not physically occupied or provided any maintenance of the Property since the late 1970s. The City filed a complaint... More
  • Kelo Case Subject Of Movie The US Supreme Court issued its Kelo eminent domain case in 2005. That case held that it is not necessarily unconstitutional to take private property for another private entity to use. Now the subject of that case is the subject of a new movie. In Little Pink House, the movie centers on Suzette Kelo – the first named plaintiff in the case and describes her fight to save her house from eminent domain. David Crosby also added music to the... More
  • NC Supreme Court Allows Brokers’ Fair Market Value Testimony The North Carolina Supreme Court has held that real estate brokers may legally testify regarding the fair market value of real property in condemnation cases. In NCDOT v. Mission Battleground Leasco, LLC, the condemnee attempted to offer the testimony of a licensed real estate broker as to the property’s fair market value . The NCDOT argued against allowing the broker’s testimony based upon state law that says licensed real estate brokers are only allowed to provide opinions of the “probable... More