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DRAFT OC Board of Adjustment – 11/9/15 Page 85 of 156 1 Michael Ogburn: Ok. It is readily online. Yes sir. 2 3 Barry Katz: Alright, you’ll let us know. And also …… 4 5 John Price: Also a copy is attached to the appraisal report. 6 7 Barry Katz: Oh ok, it is. Then you mentioned you went then to look for the comparables to see 8 adjacent to a cell phone tower and not adjacent, etcetera, but weren’t any of the examples 9 included in the Journal article? 10 11 Michael Ogburn: No. The article that was done in the Appraisal Journal was actually a study that 12 was done in New Zealand. 13 14 Barry Katz: Ok, we’ve heard about that one. 15 16 Michael Ogburn: Yes sir. 17 18 Barry Katz: That’s good to know. And just a semantic thing, you mentioned two lots $50,000. You 19 mean that those lots were not just the value of the lot but the value of the lot and the house was 20 $50,000? 21 22 Michael Ogburn: No, no sir. Just the lots are $50,000. On house number one I build a 1,000 23 square foot house. That’s going to be $50 a square foot, just for the lot. I haven’t done anything 24 else. For house B I’ve got a 2,000 square foot house. That’s going to be $25. Now, I continue 25 on… I’ve got a two-car garage on each of them. It’s $20,000 for the two-car garage. For house A 26 that’s $20 a square foot. For house B that’s $10 a square foot. I continue… I’ve got two 27 bathrooms. Each bathroom is $5,000. For house A that’s $5 a square foot. For house B it’s going 28 to be $10. So we understand that the smaller the house, all things being equal, it has to be 29 greater. If you divide a number by a smaller number it has to be greater. 30 31 Barry Katz: I just don’t think that listening to this you’re talking about hypothetical houses that, in 32 my experience, it’s not a realistic comparable because you’re not building the same house, you’re 33 not building the same value, you have no idea what goes into this, what the size of these 34 bathrooms are, or any of these things. I mean there’s so much that goes into valuing a house. 35 36 Michael Ogburn: If I confine it to a neighborhood, which I did, then we’re going to expect that most 37 of these houses are going to have a great deal of conformity. That’s why most of these 38 subdivisions have got restrictive covenant to say that you have to build a house to such a size and 39 use perhaps a certain type of architecture, etcetera. So we would anticipate that yes there’s going 40 to be variables, but that being said the smaller the house the greater per foot it’s going to sell for. 41 It just has to, there’s no way around it. Yes ma’am? 42 43 Samantha Cabe: I have a question for you. So would a cell tower have less of an effect? You’re 44 study dealt with sort of a cookie cutter neighborhood with same size lots, similar houses, I believe 45 Mr. Owen testified in his testimony at our last hearing that he had a very unique property, he had 46 the highest point east or west of such and such, that it’s a custom built home, so let’s say that 47 there is no other property, per Mr. Owen’s testimony, like this property anywhere in Orange 48 County. So how can you say that someone would go and choose another property? How can you 49 say that the cell phone tower being there outweighs the unique properties that Mr. Owen testified 50 87