Eminent Domain Report

 Here are a few updates for right of way professionals:

• IRWA International Conference:  The International Right of Way Association's (IRWA) 58th Annual International Education Conference will be taking place starting this weekend in Seattle.  Nossaman's eminent domain attorneys will be there in full force:  I know at least seven of us are attending, and we'll have representatives from our Orange County, Los Angeles, and San Francisco offices.  For the first time ever, we'll also be hosting a booth at the Conference, and we have a number of great give-aways, so plan to stop by and visit us if you're attending.  Rick Rayl will also be speaking about contamination issues in the condemnation context with Dan Biersdorf and Orell Anderson, so if you get a chance, drop in for his presentation as well.
• New Appraisal Treatise:  The Appraisal Institute has come out with a new treatise for real estate apraisers working on valuation disputes in the context of litigation.  The treatise is called Applications in Litigation Valuation:  A Pragmatist's Guide, by Jeffrey A. Johnson, MAI, and Stephen J. Matonis, MAI.  The book provides an overview of the fundamentals of litigation appraisal, including the appraiser's engagement, execution of the assignment, and expert testimony.  It also includes a series of case studies from real appraisal litigation assignments in eminent domain, title disputes, contamination, and taxation.  For appraisers working on litigation assignments, this is a must-read.
• Housing Market / Economic Forecast Update:  On June 27, Chapman University will be hosting a conference providing an economic forecast with a focus on California's housing market.  Speakers include James Doti, Ph.D., and Esmael Adibi, Ph.D., and they'll provide insight on what the trends are predicting through 2013.  If you're interested in a forecast for the housing market, you can sign up here.  The conference will take place at the Hilton Hotel in Orange County/Costa Mesa.
• San Diego Project Updates:  SANDAG recently sold $300 million in TransNet bonds to fund high-priority regional transportation projects, including the widening of SR-76, the Mid-Coast Corridor Transit Project, and the establishment of Bus Rapid Transit (BRT) services along I-15 and I-805.  You can find out more on SANDAG's website. 
• Eminent Domain for Underwater Homes:  this is a new one.  According to an article in the High Desert Daily Press, Hesperia considers using eminent domain on underwater mortgages, the Hesperia City Council is considering using eminent domain to acquire the mortgages of home owners who owe more than their home is worth.  The City does not intend to take the homes -- just the mortgages, which will allow for the loans to be restructured and affordable for home owners.  While this sounds like a nice gesture to the thousands of home owners in the Inland Empire whose homes are upside down, my guess is that lenders may put up a fight on this one, so stay tuned.