- 34 -
descriptions, we arrive at an average of about $500,000 per lot,
the amount that Hulberg used.
The Quito Property is in the Campbell Union School District
and not the Saratoga School District. Atkinson and Hulberg agree
that homes in the Saratoga School District command a market
premium compared to homes in the Campbell Union School District.
Accordingly, if any of the comparables are in the Saratoga School
District, then their sale prices should be adjusted downward.
However, we have not found, and petitioner has not directed our
attention to, anything in the record that shows that any of the
Hulberg’s comparables were in the Saratoga School District or in
any other school district where residential property prices were
higher than the Campbell Union School District. Neither side has
presented to the Court cogent reasons why the Court should
disregard any of the comparable properties presented by Atkinson
or by Hulberg.
We note that two of the comparable properties appear on both
Atkinson’s and Hulberg’s lists–-the property at 15425 Monte Vista
Dr., which was sold in May 1992 for $675,000, and the 1.16-acre
property at lot 16, Sobey Oaks Court, which was sold in July 1991
for $550,000. We note further that Atkinson shows the Monte
Vista Dr. property as being 2.9 acres, Hulberg shows this Monte
Vista Dr. property as being 2.0 acres. Neither side pointed out
the discrepancy at trial or on brief, and neither expert witness’
Page: Previous 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 NextLast modified: May 25, 2011