Wednesday, November 21, 2012
Commercial vs. Residential Entrance to the Property
One (but hardly all) of the objections I had to the appraisal done by the appraiser from Boise Idaho was that he contributed the loss of an easement through residential estate property to $0 leaving only a deeded entrance through a commercial/manufacturing facility - a winery. He did not compare the subject property to one property with such an entrance.
Early on (Claims Counsel #3 for Fidelity National Title Insurance Company who was in Omaha Nebraska) I attempted to explain the difference in terms that he could understand.
"Now when I think of Omaha I think of steak. Imagine each of these properties not with their current entrance but through a stockyard then past the slaughterhouse and the store selling the steaks that hundreds of customers are going to especially on the weekends. Okay – I admit that a vineyard does not smell like a stockyard and a grape does not look at you with those big brown eyes before sacrificing it’s little life for a bottle of wine but……… I believe you may see my point. The entrance to the subject property has changed from a private estate quality entrance to through a stockyard (okay – a vineyard is a little different) but past the slaughterhouse (winery) and the store (tasting room and sales room) hosting hundreds of visitors, weddings and other large receptions. THE LOSS OF THE NORTHERN ACCESS HAS HAD A HUGE AFFECT ON THE VALUE OF THIS PROPERTY."
Not that this made any difference as he and the appraiser just continued to ignore me. I also attempted to explain this same difference to the attorney #1 for representing Fidelity for the lawsuit by using an example in Walnut Creek. I think just maybe he got it. Of course, he has been replaced - twice I think.