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opinions. Helvering v. National Grocery Co., 304 U.S. 282, 295
(1938). We weigh the opinions of expert witnesses according to
their qualifications and other relevant evidence. Anderson v.
Commissioner, 250 F.2d 242, 249 (5th Cir. 1957), affg. in part
and remanding in part T.C. Memo. 1956-178; Johnson v.
Commissioner, 85 T.C. 469, 477 (1985).
Respondent’s expert, Lewis, gave no opinion about the fair
market value of petitioner’s house after the earthquake.
Petitioner’s expert, Halpin, estimated that the postearthquake
value was $116,700.
a. Halpin’s Valuation
Halpin inspected petitioner’s home on August 25 and
November 20, 1994. He reviewed various documents that petitioner
gave him, including Cook’s December 5, 1989, estimate; memos from
CMA to Graham & Kellam; Lewis’ written report dated January 31,
1990, describing his findings and recommendations concerning the
postearthquake damage to petitioner’s home after on-site
inspections on December 8, 1989, and January 19, 1990 (Exhibit
12-L); a May 11, 1990, letter from Graham reviewing the condition
of petitioner’s home; and a November 15, 1990, letter and
application from CMA for a permit to retrofit petitioner’s home.
Halpin prepared a report describing the damages to petitioner's
home caused by the earthquake and the repairs needed to restore
the house to its pre-earthquake condition. He subtracted his
estimate of the cost of repairs and his estimate of the cost of
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