Declining property value, but increasing land value?

This is a graph we put together that places all sales in a particular community in California against the Assessor’s land value for a specific property. This was part of a consulting assignement we completed for a home owner to help him in his appeals hearing with the Assessor to contest the base-year value of his property. The goal of this research was to display the overall trend for property value in a particular neighborhood through the Fall of 2008 (red line), while simultaneously viewing the Assessor’s land value (black squares). This one graph is not the end-all solution to convince the Assessor to lower assessed value for this property, but coupled with some other data and comparable properties, the graph serves its purpose well.

Do property value trends and land trends seem out of sync? Why did the Assessor persist to increase land value over time through 2008 despite an obvious turn downward in property value?  

This is an example of some of the consulting work we do. At times we are hired by property owners or other parties to assist them in research that might include graphs or data, but not a value opinion. Honestly, we really like this type of work because it is interesting and very intricate.

Call me at 916.595.3735 if you have any questions or need research or consulting.