- 17 - deduction from the value of the Property for the cost of such an acquisition.11 Rather than delve into a separate valuation of a hypothetical access easement upon which no evidence was presented, we will value the Property based on what was actually transferred. Mr. Sullivan testified that although the layout of the subdivision would have to be adjusted if access was not available, the total number of lots on his plan would not necessarily change. After examining the Sullivan plan, we find that by extending an existing road (as drawn on the plan) and connecting it to the opposite end of the road requiring the access easement, the need for access over petitioner's remaining property would be eliminated. This change will allow access to the lots in this section of the Property and result in a loss of, at most, two lots on the Sullivan plan. Therefore, we find that the Property could be subdivided into at least 112 house lots. Price Per Lot The experts in this case each employed a different method in estimating the price that each of these subdivided lots would sell for. Mr. Avery divided the Property into five different categories based on location and other amenities, such as view. Utilizing comparable sales data for lots sold in the area, and 11Respondent made no effort to value such an access easement.Page: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Next
Last modified: May 25, 2011