Estate of Michel Dunia, Deceased, Renee Hawley and Michel Dunia, Jr., Executors and Trustees - Page 17

                                       - 17 -                                         
          price by 5 percent because he concluded that the 5 acres                    
          represented almost 5 percent of the Jess Ranch property.  Mr.               
          Perdue combined topography with access and frontage and made an             
          aggregate positive 20-percent adjustment for those three factors.           
          He did not explain how he would have divided the 20-percent                 
          adjustment, and we decline to speculate on his analysis.  We                
          therefore accept Mr. Thompson’s 5-percent positive adjustment for           
          topography.                                                                 
               E.  Access                                                             
               Mr. Thompson made a negative adjustment of 10 percent for              
          access because he stated that the Jess Ranch property was                   
          surrounded on four sides by streets, while the Victorville                  
          property has streets on only two sides.  Mr. Perdue made a                  
          positive 20-percent adjustment for topography, access, and                  
          frontage.  He stated that the Jess Ranch property was inferior to           
          the Victorville property in access, because it was 5 miles from             
          the freeway.  In addition, he stated that two of the streets                
          surrounding the Jess Ranch property were minor, residential                 
          streets.                                                                    
               We believe that Mr. Perdue’s positive adjustment for access            
          because of the Victorville property’s proximity to the freeway              
          was appropriately factored into our 20-percent positive                     
          adjustment for location, and to make another adjustment here                
          would be double-counting.  We disagree with Mr. Thompson that the           






Page:  Previous  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  Next

Last modified: May 25, 2011