Barbara Ann Tudyman - Page 20

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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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