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Tag: Properties

  • Land Valuation Expert’s Opinions About the Current Market Value of the Properties Admitted

    Land Valuation Expert’s Opinions About the Current Market Value of the Properties Admitted

    Plaintiffs sought the partition and sale of a Boynton Beach property, a Miami property, and a West Palm Beach property (the “Properties”).

    The Defendants sought to exclude the opinions, analysis, and testimony of  Lara Swanson, an expert witness retained by Plaintiffs to provide an opinion of current market value for the properties at issue in this case.

    Land Valuation Expert Witness

    Lara Swanson is the President of Swanson Land Company located in Deerfield Beach, Florida. Swanson has over 20 years of experience in land acquisition, entitlement, and development across Florida.

    Get the full story on challenges to Lara Swanson’s expert opinions and testimony with an in-depth Challenge Study. 

    Discussion by the Court

    Swanson’s Qualifications

    With regard to the Daubert analysis, the Swanson’s qualifications were not in dispute. However, it was noted that she is not a licensed appraiser and has no formal training in appraisal theory or in the Uniform Standards of Professional Appraisal Practice.

    The Court also independently found Swanson to be qualified in light of her credentials, to which she testified during her deposition.

    Reliability of Swanson’s Methodology

    Swanson’s studies were intended to provide opinions on the current market value of the properties at issue.

    The Defendants argued that Swanson’s methodology, which relied on Letters of Intent (LOIs), “did not address any real concerns with ‘lag times’ that are not already adequately addressed by traditional appraisal methods.”

    The Defendants further contended that Swanson improperly relied on hypothetical future values of the properties after making various assumptions.

    The Court held that Swanson shall be permitted to testify about the current market value of the properties. She shall, however, not be permitted to testify about the hypothetical future values of the properties.

    Held

    The Court denied the Defendant’s motion in limine to exclude the opinions of Lara Swanson.

    Key Takeaway:

    Swanson, with her extensive experience in land acquisition, entitlement, and development across Florida, was allowed to testify about the current market value of the properties.

    Case Details:

    Case Caption: Romade Asset Partners, L.P. Et Al V. Lester Et Al
    Docket Number: 9:22cv81914
    Court Name: United States District Court, Florida Southern
    Order Date: May 22, 2025
  • Real Estate Expert’s Use of the Sales Comparison Approach is Permissible

    Real Estate Expert’s Use of the Sales Comparison Approach is Permissible

    Residents near a biomass power plant in Madison County, Georgia, owned and operated by the defendants, allege that the plant’s noise, vibrations, light, smoke, and soot are negatively impacting their property values. They have filed nuisance and negligence claims. The Defendants are challenging the admissibility of the Plaintiffs’ expert witness, real estate appraiser Kenneth Cantrell, under Federal Rule of Civil Procedure 702. While not disputing Cantrell’s qualifications, the Defendants argued that his appraisal, which assesses the decrease in property values due to plant noise, lacks sufficient factual basis and employs an unreliable methodology.

    Real Estate Expert Witness

    Kenneth Cantrell, a Georgia-based certified real estate appraiser, boasts a career spanning more than thirty years.

    Cantrell possesses a robust educational background in real estate and finance, demonstrated by his successful completion of coursework covering essential areas such as real estate valuation, finance, law, brokerage, and investment analysis. Furthermore, he has consistently pursued advanced professional development, either completing or successfully challenging numerous courses offered by esteemed organizations like the Appraisal Institute (AI) and the Commercial Investment Real Estate Council (CI), underscoring his commitment to maintaining a high level of expertise.

    Want to know more about the challenges Kenneth Cantrell has faced? Get the full details with our Challenge Study report. 

    Discussion by the Court

    Real estate appraiser Kenneth Cantrell used the sales comparison approach to assess the impact of the biomass plant on the Plaintiffs’ property values, claiming his work adheres to the Appraisal Institute’s Uniform Standards of Professional Appraisal Practice and the Appraisal Institute’s Code of Professional Ethics and Standards of Professional Appraisal Practice. 

    The Defendants challenged his methodology on three main points:

    1) They argued he failed to properly verify sales data for comparable properties. The Plaintiffs countered that Cantrell’s associate verified the data, which is permissible.

    2) The Defendants criticized the distance between comparable and appraised properties. The Plaintiffs responded that the rural setting justified the use of such comparables, under applicable appraisal standards.

    3) The Defendants claimed Cantrell relied on a biased report about the Madison plant’s impact. However, the Court found Cantrell’s use of that study as a factor, to determine the size of the impacted area, was permissible.

    The Court concluded that the Defendants’ criticisms pertain to the weight of Cantrell’s testimony, not its admissibility. Finding that Cantrell’s testimony is based on sufficient facts and reliable methodology, and would assist the jury, the Court denied the Defendants’ motion to exclude his testimony.

    Held

    The Court denied the Defendants’ motion to exclude Kenneth Cantrell’s testimony.

    Key Takeaways:

    • The Court recognized that in rural settings, broader geographic comparisons for real estate appraisals may be necessary and permissible, according to professional appraisal standards.
    • Criticisms regarding the methodology, data verification, and comparable properties were deemed to affect the weight of the appraisal evidence, not its admissibility.

    Case Details:

    Case Caption: Fowler Et Al V. Georgia Renewable Power LLC Et Al
    Docket Number: 3:23cv62
    Court: United States District Court for the Middle District of Georgia, Athens Division
    Order Date: March 15, 2025