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B only. Once the value of parcel B was determined, Dilmore used
parcel B as the sole base property in determining the value of
parcel A.
The results of Dilmore's analysis can be summarized as
follows:
FMV of Decedent’s
Parcel FMV per Acre FMV of Parcel 50% Interest
A $100,000 $6,800,000 $3,400,000
B 179,000 1,790,000 895,000
b. Young's Appraisal
Young furnished the results of his appraisal to Agee on June
10, 1988. Unlike the letter appraisal prepared by Dilmore, Young
prepared a lengthy formal report. Young conducted a highest and
best use analysis and concluded that the highest and best use of
both parcels of trust property was commercial in nature. Young
performed a comparable sales analysis using six real property
sales all of which preceded the date of decedent's death. The 6
properties used by Young were among the 12 properties used by
Dilmore in his appraisal. Each comparable sale property used by
Young consisted of commercial property and was located in the
vicinity of Highway 280 and both parcels of trust property. In
arriving at his conclusions, Young's analysis involved making
adjustments to the comparable sale properties for numerous
factors, including location, frontage influence, corner
influence, zoning, and utilities. The comparable sale properties
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