Dave Laird <[EMAIL PROTECTED]> wrote in part: >> With this ruling, all they may be entitled to is "just >> compensation" which, I guess, might not even be the standard >> market price.
>Yes, and that is where I have the most problem with this ruling. Just >compensation typically puts the decision in the hands of the courts, and >given a long and bloody history, the courts nearly always seem to lean in >the general direction of which side has the most expensive attorneys. Thus >in the game of the developers with deep enough pockets to afford good >legal counsel versus land owners who can barely afford their medical >costs, it seems a foregone conclusion that the developers have a >considerable edge. Not just that, but in determining what's "just" for real estate, courts typically discount certain factors: (1) Loss of business by relocation of a storefront. (2) Appreciation. It is frequently thought "unjust" for someone to have gotten "lucky" due to increases in land value. On the other hand, if the land and/or bldgs. have DEpreciated, they'll tend to take THAT into account. (3) Sentiment. The excuse is that the market price is not a good guide, because the anticipated development has raised land prices there and in its surroundings -- that the anticipation of very the process which includes the taking has distorted values. OTOH, sometime properties are condemned and the owner gets a sweetheart deal, such that they actually benefit at taxpayer expense. In effect, because of political connections, the robbery is in reverse: a taking of tax dollars to reward a property owner, with the jurisdiction receiving less in value than was paid for. I came across the appraisal-offer-and-settlement (or judgement) figures for properties taken 90 years ago for the Bronx River Parkway (Bronx River Reservation), and they make it look like a lottery. Most got less than the appraisal, but a few got much more. In Your Sly Tribe, Robert _______________________________________________ Libnw mailing list Libnw@immosys.com List info and subscriber options: http://immosys.com/mailman/listinfo/libnw Archives: http://immosys.com/mailman//pipermail/libnw
