Lowball Watch – California

We just got our hands on a copy of the stipulated judgment in condemnation, in County of San Diego v. Ryan Companies, San Diego Superior Court, Case No. 37-2010-00092681-CU-EI-CTL, judgment filed August 18, 2011, awarding the condemnee-owners compensation in the amount of $1,701,325.

The judgment reflects the fact that the County’s originalĀ deposit into court was $25,000, so according to our calculator, the stipulated award comes to 68 times the county’s deposit. And note well that this was not a case of the County “fighting the good fight” and losing only after advancing its honest opinion of value. No folks, this was a stipulated judgment — in the end the county agreed that its offer was an attempt atĀ gross undercompensation.