It's Only An Opinion (ePub)

This book explains, "what an appraiser thinks about when his client is the court." It is based on real world experiences that are interesting to appraisers, attorneys and businessmen. The stories are also interesting to the general public who usually don't have to think about the meaning of the value of something. The most likely market for the book consists of the 50,000 or more commercial real estate appraisers and business appraisers working here and in other countries that follow our general models for valuation, the thousands of attorneys in eminent domain condemnation or real estate practice, bond financing, estates and tax who have to rely on appraisers, people and companies whose property is being taken under eminent domain, and the tens of thousands of people who find themselves in court because the value of something is an issue.

Most of author Hank Wise's work has been as an expert witness in civil cases wherein the critical issue to be decided is 'what is it worth?' His clients include the U.S. Department of Justice, states, cities, counties, and many national and regional law firms. He appraised the Everglades and Big Cypress, tourist attraction caves, wells, mountains, air rights, mineral rights, even when all parties agreed that there were no minerals, as well as the usual panoply of shopping centers, apartments, office buildings and other commercial real estate properties. He also is a business appraiser, and has appraised privately held companies, fractional interests, limited partnerships and tenancies in common. His book, It's Only An Opinion: An Appraser in Court, uses interesting and unusual cases to illustrate the appraisal process and the reasoning that makes an appraisal credible.

INTERESTING BACK STORY

The abrupt collapse of real estate mortgage values beginning in 2008 lead to a five-year worldwide recession. This near failure of the banking system substantially increased the public's awareness about the importance of understanding what an appraiser thinks or does. Mr. Wise's career as an expert witness provides interesting anecdotes that gave him a chance to generally illustrate the foundations of value in the economy.