Category: Real Estate Appraisal Expert Witness
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Real Estate Appraisal Expert Witness’ Valuation Opinions Admitted Despite Serious Concerns About the Methodology
Plaintiff Old Gate Partners, LLC (“Old Gate”) alleged that Paddock is liable for contamination of a property (“the Property”) currently owned by Old Gate. Paddock retained Michael P. Hedden to provide valuation opinions of the Property’s “highest and best use and market value.” As a part of his analysis, he utilized an appraisal technique known…
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Real Estate Appraisal Expert Witness’ Fair Market Value Testimony Admitted
Around 6:00 AM on April 16, 2022, a fire largely destroyed a two-story, wood frame house at 408 Oak St. in Saginaw, Michigan (the “Oak Street House”). Plaintiff Raphael Arnett owned the house, and Defendant Allstate Vehicle and Property Insurance Co. insured it. Two days after the fire, Plaintiff filed a claim with Defendant, seeking…
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Real Estate Appraisal Expert Witness’ Valuation Excluding the Effect of the Pandemic Deemed Inadmissible
On August 16, 2021 (“Vesting Date”), the Plaintiff, the National Railroad Passenger Corporation (“Amtrak”), acquired the property at 260-270 Twelfth Avenue, New York, New York (New York County Block 675, Lot 1), through its power of eminent domain, as codified in 49 U.S.C. § 24311(a)(1), from the Defendant, 260 Twelfth Avenue Holdings, LLC. The acquisition…
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Real Estate Appraisal Expert Witness Testimony about Diminution in Value of Insured Property Rejected
Plaintiff Nichole Hertel sued State Farm Lloyds citing failure to pay insurance benefits following severe damage to her home during the February 2021 winter storm. Since filing suit, Plaintiff has sold and vacated her home. The Court issued a Scheduling Order in April 2023 which set a deadline of September 13, 2023, for Plaintiff to…
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Court admits expert testimony regarding restrictive covenants in public nuisance case
In Stone v. Harley Marine, the court denied Harley’s attempt to exclude Plaintiff’s expert, finding his long experience preparing neighborhood analyses qualified him to opine on land use and deed restrictions. The court held that the expert employed a reliable methodology involving site inspection and document review. While Harley could make specific objections at trial,…
