January 2023

Condemnation Settlement - NCDOT vs William H. Barber

In a highway condemnation taking case near Thurman Road and US Highway 70 E New Bern, NC, the NC Department of Transportation vs William H. Barber., TIP/PARCEL 50222.21/ 15, 16, & 249 in Craven County where the NCDOT offered $206,425 for the taking and damages to the three parcels. Appraiser associate, Jim Bullard, provided a verbal appraisal which indicated damages at $842,738. The landowner decided not to go to trial, and Mr. Bullard’s insight, experience, and verbal report assisted the property owner’s attorney, Oliver G. Wheeler IV of White & Allen, P.A. of New Bern to reach an out of court settlement of $550,000 (2.66) times the NCDOT original offer). The case was complicated by the loss of access along a major thoroughfare, the loss of symmetry caused by the remainder property being divided, and by diminished utility affected by the loss of rights within a permanent utility easement which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

December 2022

Condemnation Settlement - Fayetteville Public Works Commission vs. Johnny Beasley and Billy E. Dees

In a water and sewer line condemnation taking case on Camden Road in Hope Mills, NC, the Fayetteville Public Works Commission vs. Johnny Beasley and Billy E. Dees, File No: 21 CVS 2401 in Cumberland County where the PWC offered and deposited $31,362 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $245,016 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $175,000 (5.6 times the PWC offer and 71.4% of Mr. Bullard’s damages). The case was complicated by wetland issues and a reduction in utility after the takings severed the subject property which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the PWC taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - Fayetteville Public Works Commission vs William J. Paul and Billie J. Paul

In a water and sewer line condemnation taking case on King Road at Stoney Point Road in Fayetteville, NC, the Fayetteville Public Works Commission vs William J. Paul and Billie J. Paul, File No: 21 CVS 4731 in Cumberland County where the PWC offered and deposited $49,355 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $325,300 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $147,500 (2.99 times the PWC offer and 45.3% of Mr. Bullard’s damages). The case was complicated by zoning issues and a reduction in utility after the takings severed the subject property which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the PWC taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

November 2022

Inverse Condemnation Settlement - Dennis L. Jackson et al vs. NCDOT

In an inverse highway condemnation taking case (“Map Act”) on Old Plank Road in Hope Mills, NC, Dennis L. Jackson et al vs the NC Department of Transportation; Court File No. 2020-CVS-2380 Cumberland County where the DOT offered $150,777 for the taking and damages incurred during the 1992, 2006, and 2020 takings. After the case filing, the “Map Act” was repealed which meant the NCDOT would have to pay damages for the October 29, 1992 taking; the June 6, 2006 taking; and for the April 27, 2020 taking of the same property. Appraiser associate, Jim Bullard, appraised the taking and damages for the 1992 taking at $170,289 damages for the 2006 taking at $582,056, and damages for the 2020 taking at $885,044, (total $1,637,389) which assisted the property owner’s attorney, Jason Campbell of NC Eminent Domain Law firm in Durham, NC to reach an out of court settlement of approximately $1,999,500 (13.26 times the NC DOT offer). The case was complicated by the loss of access and utility to the remainder property and damages due to noise and water runoff. One of the most difficult challenges in solving this appraisal problem was locating comparable sales over 28 years old. Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Zoning Case - Impact Study of Addiction Rehab Facility

Alex T. Keith, Associate/Appraiser Supervisor at Tom J. Keith & Associates, Inc., successfully testified before the Sampson County Planning Board in a case involving the impact of a proposed Addiction Rehab Facility for Changing Paths of NC to be permitted in Clinton, Sampson County, NC on November 1, 2022 for Suzie Teague, the owner and operator. Mr. Keith’s testimony helped the owner secure a Special Use Permit (SUP) and included a study of property values at various distances from similar Addiction Rehab Facilities in North Carolina and showed that there would be no significant impact to the value of properties adjacent to and up to one mile from the subject’s facility and that the facility would be in harmony with the adjoining land uses. The concentric ring or buffer ring study has been used successfully by members of the firm over the last 24 years in similar cases as well as in cell towers, sand mine and quarry cases. The method utilizes GIS data with hundreds of sales of residential homes and land transactions and is difficult to refute the data, graphics, analysis and interviews. Mr. Anthony Fox, lawyer with Parker Poe, of Charlotte (704-335-9841) represented the owner.

September 2022

Condemnation Settlement - NCDOT vs. Charles Dwight Matthews

In a highway condemnation taking case at Interstate 95 and Wade-Stedman Road, in Wade NC, the NC Department of Transportation vs. Charles Dwight Matthews, Federal Aid Project: I-5986A (83) in Cumberland County where the NCDOT offered and deposited $276,750 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $923,110 which assisted the property owner’s attorney, Timothy W. Wilson, of Poyner Spruill, LLP in Rocky Mount to reach an out of court settlement of $750,000 (2.7 times the NCDOT offer and 81.2% of Mr. Bullard’s damages). The case was complicated by the loss of access, reduction in utility, change in road elevation and change in shape which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

July 2022

Condemnation Settlement - NCDOT vs. George Edmund Bullard, Jr. et al

In a highway condemnation taking case on US Hwy 301 (Dunn Rd.) in Eastover, NC, the NC Department of Transportation vs. George Edmund Bullard, Jr. et al, Federal Aid Project: NHP-0095 (57) in Cumberland County where the NCDOT offered and deposited $157,550 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $315,060 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $300,000 (1.9 times the NCDOT offer and 95.2% of Mr. Bullard’s damages). The case was complicated by the reduction in setback, reduction in utility and change in shape which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

May 2022

Condemnation Settlement - NCDOT vs. Tri Arc Food Systems, Inc.

NCDOT Condemnation Settlement
In a highway condemnation taking case on Shotwell Road in Clayton, NC, the NC Department of Transportation vs Tri Arc Food Systems, Inc., Court File No. 2019-CVS-3943 Johnston County where the NCDOT offered and deposited $99,125 for the taking and damages. Appraiser associate, Jim Bullard, provided a verbal appraisal which indicated damages at $408,972 which assisted the property owner’s attorney, Ronald R. Rogers of Williams Mullen of Raleigh to reach an out of court settlement of $200,000 (2.01 times the NC DOT offer). The case was complicated by diminished utility, and the rights within a permanent utility and drainage easements which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs. Kenneth R. Jones et ux

In a highway condemnation taking case off Swift Creek Road at US Highway 70 in Wilsons Mills, the NC Department of Transportation vs Kenneth R. Jones et ux, Court File No. 2019-CVS-2314 Johnston County where the NCDOT offered and deposited $148,200 or $33,602/acre for the 2.514 acres to be taken. After negotiations and settlement, the NCDOT only took 0.999 acres. Appraiser associate, Jim Bullard, provided a written appraisal which indicated damages at $1,262,920 which assisted the property owner’s attorney, Joshua D. Hanssen of Hansen, Howell & Wilke, PLLC of Raleigh to reach an out of court settlement of $225,000 or $ $225,225/acre which is 6.7 times the NC DOT original per acre offer. The case was complicated the loss of access to commercial and residential areas which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs. Kenneth R. Jones et ux

In a highway condemnation taking case off Swift Creek Road at US Highway 70 in Wilsons Mills, the NC Department of Transportation vs Kenneth R. Jones et ux, Court File No. 2019-CVS-3859 Johnston County where the NCDOT offered and deposited $205,225 for the area taken and damages. Appraiser associate, Jim Bullard, provided a written appraisal which indicated damages at $1,751,270 which assisted the property owner’s attorney, Joshua D. Hanssen of Hansen, Howell & Wilke, PLLC of Raleigh to reach an out of court settlement of $680,000 which is 3.31 times the NC DOT offer. The case was complicated the presence of various electric, gas, and sewer easements which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

April 2022

Condemnation Settlement - NCDOT vs. Shelby Pressler

In a highway condemnation taking case at Interstate 95 and Wade-Stedman Road, in Wade NC, the NC Department of Transportation vs. Shelby Pressler, Federal Aid Project: I-5986A (85) in Cumberland County where the NCDOT offered and deposited $343,150 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $475,100 which assisted the property owner’s attorney, Timothy W. Wilson, of Poyner Spruill, LLP in Rocky Mount to reach an out of court settlement of $480,000 (1.4 times the NCDOT offer and 101% of Mr. Bullard’s damages). The case was complicated by the loss of access, reduction in utility, change in road elevation and change in shape which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

February 2022

Condemnation Settlement - NCDOT vs. Oland Little

In a highway condemnation taking case on US Hwy 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. Oland Little, Court File No. 2018-CVS-6711 Cumberland County where the NCDOT offered and deposited $160,450 for the taking and damages. Appraiser associate, Jim Bullard, provided a written appraisal which indicated damages at $768,915 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $525,000 (3.27 times the NC DOT offer). The case was complicated by the loss of access, diminished utility, and the rights within a permanent utility and drainage easements which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. The court map indicated that the subject property would lose access to Skibo Road and only have one access to Raeford Road. The settlement returned access to Skibo Road as it was in the before condition. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

December 2021

Condemnation Settlement - NCDOT vs. Thomas J. Frangakis et ux

In a highway condemnation taking case on US Hwy 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. Thomas J. Frangakis, et ux, Court File No. 2019-CVS-1511 Cumberland County where the NCDOT offered and deposited $139,450 for the taking and damages. Appraiser associate, Jim Bullard, provided a written appraisal which indicated damages at $305,765 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $300,000 (2.15 times the NC DOT offer). The case was complicated by the reduction in setback, loss of access, diminished utility, and the rights within a permanent utility and drainage easements which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the training, experience, and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

November 2021

Condemnation Settlement - NCDOT vs. DPGP Investments, LLC

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, DPGP Investments, LLC, in November of 2021 quantifying the damages due to NCDOT taking in a road widening project on US Highway 401 (Raeford Road) in Fayetteville (Cumberland County, NC 19 CVS 1229). The NCDOT original offer was for $289,800. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred from the diminution of value due to the change in highest and best use because if the loss of access. Included in the report were additional studies that focused on the reduction in setback and the damages incurred from the rights taken within a permanent utility and permanent drainage/utility easements that supported damages of just over $4,000,000. Mr. Bullard testified in superior court explaining and defending his value opinion, allowing the landowner’s attorney, Garris Neil Yarborough, to secure $3,125,000 in just compensation for the owner as the verdict in a jury trial. This verdict was 10.78 times or 978% greater than the states offer.

January 2021

Condemnation Settlement - NCDOT vs Talley Investments, LLC

In a highway condemnation taking case on US Hwy 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. Talley Investments, LLC; Court File No.: 2019-CVS-1075 Cumberland County where the DOT offered and deposited $118,375 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $582,700 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $387,600 (3.27 times the NC DOT offer). The case was complicated by the loss in parking, reduction in setback, reduction in land to building ratio, and the rights within a permanent utility and drainage/utility easements which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

November 2020

Condemnation Settlement - NCDOT vs Talley Investments, LLC

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Talley Investments, LLC, in November of 2020 quantifying the damages due to NCDOT taking in a road widening project on US Highway 401 (Raeford Road) in Fayetteville (Cumberland County, NC 19 CVS 0996). The NCDOT original offer was for $73,625 but was later revised to approximately $76,000. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred from the reduction in setback and the damages incurred from the rights taken within a permanent utility easement that supported damages of just over $600,000. Mr. Bullard testified in superior court explaining and defending his value opinion, allowing the land owner's attorney, Garris Neil Yarborough, to secure approximately $285,000 in just compensation for the owner as the verdict in a jury trial. This verdict was 3.87 times or 287% greater than the states offer.

April 2020

Condemnation Settlement - NCDOT vs 3009 Raeford, LLC

In a highway condemnation taking case on US Hwy 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. 3009 Raeford, LLC, Court File No.: 2018-CVS-7157 Cumberland County where the DOT offered and deposited $89,625 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $228,530 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $163,500 (1.82 times the NC DOT offer). The case was complicated by the loss in access and the rights within a permanent utility and drainage easements which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

January 2020

Condemnation Settlement - NCDOT vs Roy H. Byrd Jr.

In a highway condemnation taking case on NC Highway 24 (S. Bragg Blvd.) in Spring Lake, NC, the NC Department of Transportation vs. Roy H. Byrd, Jr., et al, et ux, Court File No.: 2013-CVS-0233 Cumberland County where the DOT offered and deposited $274,300 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $942,600 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $900,000 (3.28 times the NC DOT offer). The case was complicated by the loss in access, and the rights within a permanent utility and drainage easements which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs Tarheel Taco, LLC

In a highway condemnation taking case on US Highway 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. Tarheel Taco, LLC, Court File No.: 2018-CVS-2266 Cumberland County where the DOT offered and deposited $45,675 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $272,173 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $195,000 (4.27 times the NC DOT offer). The case was complicated by the loss in depth, loss in buildable fee area and the rights within a permanent utility easement which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

December 2019

Condemnation Settlement - NCDOT vs Catholic Diocese

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Catholic Diocese, in November 2019 quantifying the damages due to NCDOT taking in a road widening project on NC Highway 211 near Southport (Brunswick County, NC 17 CVS 0281). The NCDOT original offer after the taking was revised was for $200,000. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by reduction in setback and loss of primary rights within a Permanent Utility Easement that supported damages of $755,336. The Catholic Diocese attorney, Timothy Wilson of Poyner Spruill LLP (Tel: 252 972 - 7114) secured $477,000 in just compensation for the owner as a mediation settlement. This settlement was 2.38 times or 138% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

November 2019

Expert Witness - NCDOT vs Dena Squires Lingle, ET AL

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Dena Squires Lingle, et al, in November, 2019 quantifying the damages due to NCDOT taking in a road widening project on US 401(Raeford Road) in Fayetteville, NC, File No. 18-CVS-6859. The NCDOT’s original offer was for $42,600. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by reduction in setback, reduction in parking and a change in highest and best use that supported damages of $408,820. Mr. Bullard testified in superior court in November of 2019 explaining and defending his value opinion allowing the owner's attorney, Garris Neil Yarborough of Yarborough Winters & Neville PA (Tel: 910 433-4343) to secure approximately $350,000 in just compensation for the owner as the verdict in a jury trial. This verdict was 8.22 times or 722% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs Randy Gregory

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Randy Gregory, in July of 2019 quantifying the damages due to NCDOT taking in a road widening project on US 401 Raeford Road (Cumberland County). The NCDOT original offer was for approximately $11,995. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by the reduction in setback and the rights taken within a Permanent Utility Easement that supported damages of $230,320. Mr. Gregory is an attorney at Rand and Gregory (Tel: 910 433-2222) secured approximately $175,000 in just compensation for the owner as a mediation settlement. This settlement was 14.59 times or 1359% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs JS Investment Holdings, LLC

In a highway condemnation taking case on US Highway 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. JS Investment Holdings, LLC, Court File No.: 2018-CVS-2267 Cumberland County where the DOT offered and deposited $72,240 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $344,660 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $330,000 (4.57 times the NC DOT offer). The case was complicated by the loss in depth, loss in buildable fee area and the rights within a permanent utility easement which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs Bullard Trailer Sales, Inc.

In a highway condemnation taking case on US Highway 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. Bullard Trailer Sales, Inc., Court File No.: 2018-CVS-20369 Cumberland County where the DOT offered and deposited $15,950 for the taking and damages. Appraiser associate, Jim Bullard, appraised the taking and damages at $256,345 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $105,750 (6.63 times the NC DOT offer). The case was complicated by the loss in depth, loss of parking and the rights within a permanent utility easement which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs FJW Realty Corp

In a highway condemnation taking case on US Highway 401 (Raeford Rd.) in Fayetteville, NC, the NC Department of Transportation vs. FJW Realty Corporation, Court File No.: 2018-CVS-4809 Cumberland County where the DOT offered and deposited $57,065 for the taking and damages on a restaurant. Appraiser associate, Jim Bullard, appraised the taking and damages at $388,910 which assisted the property owner’s attorney, Keenya Justice of The Justice Firm in Charlotte, NC to reach an out of court settlement of $167,500 (2.94 times the NC DOT offer). The case was complicated by the loss in depth, loss in buildable fee area and the rights within a permanent utility easement which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking. Mr. Bullard relied on the experience and knowledge of an appraisal firm with over 99 years of combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

June 2019

Condemnation Settlement - NCDOT vs Stevens Market, LLC

Real Estate Appraiser Associate Jim Bullard provided a verbal appraisal on behalf of the property owner, Stevens Market, LLC, in February 2019 quantifying the damages due to NCDOT taking in a road widening project on US 17 Market Street in Wilmington (New Hanover County NCDOT TIP/ Parcel No.: U-4902 C112). The NCDOT original offer was for $256,875. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by reduction in setback, reduction in parking and a change in highest and best use that supported damages of $683,395. Stevens Market, LLC attorney, Jason Pfister of Forest Firm, P.C. (Tel: 919 324 - 3531) secured $442,500 in just compensation for the owner as a mediation settlement in June of 2019. This settlement was 1.72 times or 72.26% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

October 2017

Condemnation Settlement - NCDOT vs Nash Hester

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Nash Hester, in January 2017 quantifying the damages due to NCDOT taking in a road widening project on US 701 project near Elizabethtown (Bladen County, NC 15 CVS 40). The NCDOT original offer was for $8,377. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by reduction in setback, reduction in parking and a change in highest and best use that supported damages of $700,000. Mr. Hester’s attorney, Timothy Wilson of Poyner Spruill LLP (Tel: 252 972 - 7114) secured $200,000 in just compensation for the owner as a mediation settlement. This settlement was 23.87 times or 2,287% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

July 2017

Condemnation Settlement - NCDOT vs Coley Farms LP

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owners, Coley Farms LP, in October 2016 quantifying the damages due to NCDOT taking in a highway expansion project on Interstate 74 near Rockingham in Richmond county, NC 2014 CVS 0702). The NCDOT original offer was for approximately $199,800. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by reduction in access and the effects of storm water runoff that supported damages of $491,000. Coley Farms LP attorney, Jay Harrington of the Harrington Law Firm (Tel: 704 289 - 2548) secured $350,000 in just compensation for the owner as a mediation settlement in May of 2017. This settlement was 1.75 times or 75% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Cell Towers

Tom J. Keith & Associates, Inc. has been quoted in PROBATE PROPERTY, a publication of the Real Property, Trust and Estate Law Section of the American Bar Association, May/June 2015, Vol. 30, No. 3, page 10-15, as a source of research studies about the impact of cell towers on adjoining residential properties. The firm’s study can be found on their website at www.keithvaluation.com/research/real estate/damage studies.

The firm is also quoted in Inside Towers, a publication of Tower-Pro.com in which they researched the impact of cell towers on surrounding properties.

Condemnation Settlement - NCDOT vs Jack Wayne Griffin

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Jack Wayne Griffin, in September 2015 quantifying the damages due to NCDOT taking in a road widening project on NC Highway 24 project in Clinton (Sampson County, NC 13 CVS 897). The NCDOT original offer was for approximately $123,000. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by reduction in setback, reduction in parking and a change in highest and best use that supported damages of $457,000. Mr. Griffin’s attorney, Jessica O. Wilkie of Hansen Law Firm, PLLC (Tel: 919 256 - 5266) secured $420,000 in just compensation for the owner as a mediation settlement. This settlement was 3.41 times or 241% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

Condemnation Settlement - NCDOT vs George L. Hall

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, George L. Hall., in June of 2016 quantifying the damages due to NCDOT taking in a road widening project on NC Highway 24 project near Autryville (Sampson County, NC 12 CVS 1051). The NCDOT original offer was for approximately $230,000. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by placing a state highway right of way within 100 feet of a poultry farm that supported damages of just under $900,000. Mr. Hall’s attorney LeAnn Nease Brown of Brown & Bunch, PLLC (Tel: 919 968 - 1111) secured approximately $660,000 in just compensation for the owner as a mediation settlement. This settlement was 2.87 times or 187% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

June 2017

Condemnation Settlement - NCDOT vs Gerald D. Elixson

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Gerald and Betty Elixson, in April 2017 quantifying the damages due to NCDOT taking in a road widening project on NC Highway 59 Main Street Hope Mills (Cumberland County). The NCDOT original offer was for approximately $58,100. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred by the reduction in setback and loss of utility and effects of controlled access that supported damages of $421,191. Mr. Elixson, who was suffering from failing health at the time, secured attorney Matthew Richardson of The Richardson Firm (Tel: 910 488-5050) who secured approximately $110,000 in just compensation for the owner as a mediation settlement. This settlement was 1.9 times or 90.88% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

March 2017

Expert Witness - NCDOT vs Clark Brothers LLC

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Clark Brothers, LLC., in June of 2016 quantifying the damages due to NCDOT taking in a road widening project on US Highway 701 project near Elizabethtown (Bladen County, NC 15 CVS 0125). The NCDOT original offer was for $70,965 but was later revised to approximately $120,000. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred from the change in highest and best use resulting from elevation changes that supported damages of just over $900,000. Mr. Bullard testified in superior court in March of 2017 explaining and defending his value opinion allowing the owner's attorneys, Timothy W. Wilson (Tel: 252 972-7114) and James F. Rogerson, (Tel: 252 243-3136) to secure approximately $550,000 in just compensation for the owner as the verdict in a jury trial. This verdict was 7.75 times or 675% greater than the states original offer. Team members of the firm founded in 1970 have had over 99 years’ combined experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

December 2016

Expert Witness - NCDOT vs Collins

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Collins, Inc., in November of 2016 quantifying the damages due to NCDOT taking in a road widening project on US Highway 70 project near Smithfield (Johnston County, NC 14 CVS 3267). The NCDOT original offer was for $112,460 but was later revised to approximately $200,000. Mr. Bullard provided an appraisal which included a market study on the effects and damages incurred from the change in highest and best use that supported damages of just over $1,900,000. Mr. Bullard testified in superior court explaining and defending his value opinion allowing the owner's attorneys, Timothy W. Wilson and James F. Rogerson, to secure approximately $1,700,000 in just compensation for the owner as the verdict in a jury trial. This verdict was 8.5 times or 750% greater than the states offer. Team members of the firm founded in 1970 have had over 47 years’ experience in developing condemnation valuation techniques to successfully defend their valuations in a court of law.

January 2016

NCDOT Condemnation Settlement

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, Ellen Wolford, in November of 2014 quantifying the damages due to NCDOT taking in a road widening project on NC Highway 87 in Roseboro (Sampson County, NC 12 CVS 1105). The NCDOT offer was for $52,250. Mr. Bullard provided an appraisal that supported damages of just over $224,000 allowing the owner's attorney, Garris Neil Yarborough, to secure approximately $155,000 in just compensation for the owner in an out of court settlement.

December 2015

Sand Mine

Brandon Wills, an Associate with Tom J. Keith & Associates, Inc., successfully testified before the Sampson County Planning Board in two separate cases about the impact of a proposed sand and gravel mine called the Big Easy Mine and the White Sands Mine to be permitted in the Timothy Community of Sampson County on November 16, 2015 and September 21, 2015 for Clark Wooten, the owner and operator. Mr. Wills testimony helped the owner secure a mining permit and included a study of property values at various distances from similar mines in North Carolina and showed that there would be no significant impact to the value of properties adjacent to and up to one mile from the mine and that the mine would be in harmony with the adjoining land uses. The concentric ring or buffer ring study has been used successfully by members of the firm over the last 17 years in similar cases as well as in cell towers and quarry cases. The method utilizes GIS data with up to 100 sales of residential homes and land transactions and is difficult to refute the data, graphics, and analysis. Mr. Andrew Jackson, lawyer, of Warsaw (910-592-4121) represented the owner.

November 2014

NCDOT Condemnation Settlement

Real Estate Appraiser Associate Jim Bullard provided an appraisal on behalf of the property owner, White Investments Company, in June of 2014 quantifying the damages due to NCDOT taking in a road widening project on NC Highway 87 in Roseboro (Sampson County, NC 12 CVS 1267). The NCDOT offer was for $201,100. Mr. Bullard provided an appraisal that supported damages of just under $420,000 allowing the owner's attorney, Garris Neil Yarborough, to secure approximately $355,000 in just compensation for the owner in an out of court settlement.

February 2014

NCDOT Condemnation Settlement

In a highway condemnation taking case on NC Highway 87 near Stedman, NC, Department of Transportation vs. Richard R. Allen Jr, Court File No.: 12-CVS-4455 Cumberland County where the DOT offered and deposited $69,000(R) for the taking and damages, appraiser Associate, Jim Bullard, appraised the taking and damages at just over $378,000 which assisted the property owner’s attorney, Garris Neil Yarborough of Yarborough, Winters, Neville, PA in Fayetteville, NC to reach an out of court settlement of $315,000 (4.56 times the NC DOT offer). The case was complicated by zoning, obsolescence and access issues which Mr. Bullard was able to quantify the relevant damages of each factor that affected value due to the DOT taking.

December 2013

Cell Tower and Cell Site Valuation

Associate Brandon Wills and Tom Keith were selected as webinar presenters by the Appraisal Institute to discuss the valuation of cell towers and cell tower sites on December 5, 2013. The 2 hour webinar ended with a Q&A session where the 375 participants could email their questions to the presenters. It was a very timely tropic with more questions asked than time to answer them. Keith provided a sample model to illustrate how the impact on surrounding properties could be quantified using GIS software and the whole universe of data. For more information, refer to our research and white paper section of our website.

November 2013

Appraiser Supervisor

On November 15, 2013, Jim Bullard, an 11 year associate and Brandon Wills, a 2003 UNC-Chapel Hill graduate and 6 year associate, successfully completed the appraiser supervisor’s course sponsored by the NC Appraisal Board in Raleigh. Jim and Brandon will be supervising and training new appraiser trainees for the firm.

Appraisal for Largest Loan by USDA

John Schall, Appraiser Associate, completed an appraisal that helped Cape Fear Valley Health System receive a $57.3 million loan from USDA to finance Hoke Hospital. It was the biggest loan and guarantee ever made in the history of the USDA. The loan helps Cape Fear Valley with the best interest rates available. The funds will be used for the construction of part of the $100 million complex on U. S. 401 at Johnson Mill Road that includes the $38 million outpatient Health Pavilion. It is expected to employ about 350 people.

May 2013

Highway Condemnation in Lumberton, NC

In a highway condemnation taking case on Interstate 95 at Lumberton, NC, Department of Transportation vs. David Johnson Goode, et ux, et al, Court File No.: 12-CVS-696, Robeson County where the DOT offered and deposited $54,650 for the taking and damages. Appraisal Associate, Jim Bullard, appraised the taking and damages just over $600,000 which assisted the property owner’s attorney, Timothy W. Wilson of Poyner Spruill in Rocky Mount, reach an out of court settlement of $600,000 (11 times the NC DOT offer). The case was complicated by zoning, wetland, flood plain and access issues which Mr. Bullard was able to convincingly quantify the relevant damages of each point due to the DOT taking.

Appraiser vs. NCDOT

Real Estate Appraiser associate, Jim Bullard, provided an appraisal on behalf of property owner, John O. Bunce, et al, in April 2013 quantifying the damages due to NCDOT taking in a road widening project on Hope Mills Road (Cumberland County, NC 11CVS10033, 12CVS8541-12CVS8542). The NCDOT offer was for $59,000. Mr. Bullard provided an appraisal allowing owner's attorney, Garris Neil Yarborough, to secure approximately $164,000 in just compensation for the owner.

Mr. Bullard also testified on behalf of property owner, Magnolia Lane, LLC, et al, in April 2013 trial involving the taking and damaging of the owner's property in a NCDOT taking and road widening project on Magnolia Lane (Cumberland County, NC 11CVS030). The NCDOT appraiser testified to a value of $91,000. Mr. Bullard's testimony assisted the owner's attorney, Garris Neil Yarborough, to secure approximately $164,000 in just compensation for the owner.

Business Valuation Conference, Atlanta, Ga.

Thomas Bell and Tom Keith attended a business valuation educational conference sponsored by the Financial Consulting Group (FCG) in Atlanta, Ga., where a host of first day speakers included author and lecturer, Jim Hitchner, Jim Alerding, Josh Angell, Charles Phillips, David Hoffman – all business valuation practitioners in the Atlanta area spoke on "Deep Thoughts on DLOM,” and "Practice Guidelines for Forensic Engagements.”

The second day included lectures by professor and author Aswath Damadaran, Ph.D., holds the Kerschner Family Chair in Finance Education and is Professor of Finance at the Stern School of Business at New York University who spoke on "Living with Noise: Investing in the Face of Uncertainty” and "Cost of Capital.” He has valued companies such as Amazon, Apple, and Facebook. He has published several books on Equity Valuation. Business Week profiled him as one of the top twelve business school professor in the US in 1994.

Mark L. Zyla lectured on "Fair Value Measurements: Where Are We Now.” Jim Alerding spoke on "Valuation in the Divorce Setting.”

April 2013

The Firm Welcomes John Schall

Almost a year ago and after completing 8 appraisal courses and the real estate brokers course over the previous 6 months, Tom Keith & Associates, Inc., hired me as a trainee so I could learn how to appraise real estate and meet the requirements for a General Real Estate Appraisal Certification which takes 2 and one half years of experience. I am 40 years old and was ready to settle down to a career I could enjoy the rest of my life.

A former associate of the firm, Diehl Jones, had recommended me to this firm because they had an excellent training program and had trained over 60 appraisers in this market. I had checked with other firms but they were not willing to take on an associate who would eventually become their competition.

Since being hired, I have appraised numerous properties including office park developments, medical clinics, fast food and family style restaurants, churches, central business district office and retail, office condos, industrial properties, farm and woodland and hospitals. At first there were a lot of questions but now I am getting more familiar with the appraisal process and now I am beginning to "see the light." This has been one of the most rewarding careers I have every pursued and I hope to continue this until I retire.

The firm has excellent data bases and the assignments become more interesting and challenging each day. I learn something new each day and with each assignment.

Study on the Impact of Median on Business

Recently Jim Bullard completed a study on the effects of a median that was placed along Ramsey Street in 2011. After establishing the traffic history for Ramsey Street and discussing the reasons for the median with the NC Department of Transportation, Bullard compiled an exhaustive study of businesses along Ramsey Street and documented the results of this study in order to demonstrate the effects of the median on various types of businesses.

The owners and managers of over forty businesses were asked "How has the median affected your business”? Next, the owners were asked to discuss the effects if any on how much their businesses had changed. The information gleaned was incorporated into a study which graphically illustrates how the major types of businesses were affected by the median.

March 2013

The Firm Says Fairwell to David W. Duke

Nearly 7 years ago I made a career change from teaching music at Methodist University with a Doctorate in Music to pursuing a career in real estate appraising. I knew nothing about appraising but an appraisal firm owners’ son took piano lessons from my wife who taught at Snyder Memorial Baptist Church. I interviewed with the owner and he agreed to hire me provided I took the required courses for a trainee license and a real estate broker’s license. After completing the required three years of appraisal experience with Tom J. Keith & Associates, Inc. I took the required appraisal licensing test and obtained my General Real Estate Appraisers License.

Tom Keith has trained over 60 appraisers during his 42 years experience and he knows how to train appraisers by providing the individual with just the right amount of assistance with hands-on on-the-job training and education and at the same time instilling in us the pride of authorship and the satisfaction of completing the job on our own for the client. He conducted weekly staff meetings so all appraisers could share their experiences to help the beginning appraiser. He has about 20,000 appraisal reports, models, transaction data, and a wealth of knowledge about how to appraise any type of property a client may request. I never experienced a situation where he did not know how to appraise a property. He was always available to help me with any question I might have. He allowed me to continue to pursue musical interest at night. I even helped my children with home schooling.

My family are moving to Pennsylvania and my experience with Mr. Keith has enabled me to launch an appraisal career with a health care appraisal firm. I owe my success in this business because I had the opportunity to work for a firm that strives on doing things "the right way” and doing them like you would like someone to appraise your property.

Geographic Information Systems (GIS)

For the past five years Yolanda Lilly, GIS technician, has helped Tom J. Keith and Associates leverage the capacity of the GIS program to relate different types of data such as socioeconomic, demographic and land use data to strengthen studies, consultations and reports with professional illustrations of geographically based empirical data, providing a more complete overview of a client’s specific property(s) within the whole universe of data for that market. The ArcGIS program and 36” plotter allows her to graphically plot data on maps and charts for easier visual presentation and interpretation. The program can create maps, mine data from the whole universe of data in a market, and maintain data to assist the appraisers in locating their subject and comparables for their appraisal or consulting reports. When a bid request for an appraisal report is received and accepted, the first thing to do is locate the subject with the aid of the GIS program. She creates different maps such as aerial, topography, elevation, flood zone, floodway, soil, wetlands and location maps to provide the client and appraisers with a more complete understanding of the subject property(s). Once the subject is identified, the GIS program is combined with geographically referenced data that allows her to research for recent improved and/or land sales.

By executing search techniques within the GIS program, Mrs. Lilly performs research in selected markets for properties with certain characteristics and exports that data to an Excel spreadsheet or generates a map with the data plotted on it. The geographic data comes from a variety of government and corporate sources and daily inquiries are made to stay current by updating and maintaining the program and data files to ensure the most accurate performance of the GIS program and database. The GIS program has the capacity to relate different types of data such as socioeconomic, demographic, and land use that allows contribution to those different studies and consultations which allows the appraisers to visualize the relationship between physical, social, and economic characteristics and trends.

February 2013

Cell Tower Leases

On February 7, 2013, Tom Keith & Associates, Inc. staff watched a webinar about cell tower leases and legal trends associated with section 6409(9) of the Middle Class Tax Relief Act and Section 704 of Telecommunications Act of 1996 Shot clock orders. The firm has appraised a number of cell towers as well as the impact of cell towers on adjoining properties. This study is <a href="http://www.keithvaluation.com/research/CellTowerRentStudy.pdf">located on our website</a>

Going Concern Value Review

At the request of the American Society of Appraisers (ASA) in February 2013, Tom J. Keith, MAI, ASA, CBA, reviewed the course material for a course to be sponsored by the ASA. We were chosen because of our knowledge and experience in valuing both real estate and business entities. The three and one-half day course introduces the participant to the concept of appraising real estate properties with a business component, such as car washes and motels. It is designed to provide the experienced appraiser the knowledge and understanding needed to perform going concern valuations by helping the real estate appraiser identify the non-real estate and intangible assets when they are entangled with the real estate.

The course is developed from the book Going Concern Valuations for Real Estate Appraisers, Lenders, Assessors, and Eminent Domain Professionals written by L. Deane Wilson, MA, ASA and Robin G. Wilson, MAI.

Expert Witness

Real Estate Appraiser associate, Jim Bullard, testified on behalf of property owner, Bullard Furniture Company, in a February 2013 trial involving the taking and damaging of the owner’s property in a road widening project (Cumberland County, NC, 10CVS9029). The NC DOT appraiser testified to a value of $175,000. Mr. Bullard’s testimony assisted the owner’s attorney, Garris Neil Yarborough, in securing approximately $800,000 in just compensation for the owner.