05-14-09 PANSINI CUSTOM DESIGN ASSOCIATES, LLC. V. CITY OF
OCEAN CITY
A-2003-07T1
In this appeal we addressed the issue of whether the use of
averaging of comparable sales by the trial judge in fixing the
fair market value of the real property represents an appropriate
evaluation methodology and whether it fulfills a judge's fact-
finding responsibility. The trial judge, after excluding the
high and low comparable sales presented by the expert witnesses
in competing appraisals, averaged the values of the remaining
comparables to arrive at a fair market value. We disapproved of
the practice of averaging and concluded that it does not
represent a reasoned and considered valuation technique.
