Recent Blog Posts

Valuation of Investment or Vacation Real Estate in Divorce

Colgan & Associates — Tue, 26 Oct 2010 13:54:00 GMT

Valuation of an investment property or vacation home may be different than a standard market valuation approach for traditional residential real estate.

There are three primary approaches to real estate valuation: the market approach, the income approach and the cost approach. The market approach assesses the value of the property by reviewing sales of comparable properties in geographic proximity to the subject property. The cost approach considers the cost to construct a similar property. The income approach values the property for a given rate of return in light of the operating expenses associated with the property.

An investment property or vacation home that is rented when not being used by the owner, might be appropriately valued using the income approach to valuation as opposed to the more commonly used market approach used for residential properties. The income approach considers the gross rent the property generates and subtracts the operating expenses associated with the property. That "net operating income" is then divided by the rate of return an owner would expect to receive for such an investment. Therefore, a property that generates $32,000.00 in gross rent and has operating expenses of $12,000.00 has net operating income of $20,000.00. If the expected rate of return is 8%, the property value is $250,000.00. This may significantly different than the market approach valuation but may be a more accurate reflection of the value of the property if it is likely to be used as an investment property.

Attorney Shawn Curry Recognized as Prestigious "Rising Star"

Mon, 19 Jul 2010 20:55:00 GMT

Attorney Shawn Curry has been selected as a "Rising Star" in 2010 by Pennsylvania Super Lawyers. Fewer than 2.5% of Pennsylvania lawyers will achieve this recognition. The selection results from peer nominations, recommendations and the Pennsylvania Super Lawyer's extensive search and review process.

At Colgan Marzzacco, Attorney Curry's practice focuses on criminal and DUI defense. As an experienced litigator, Mr. Curry has achieved great results for his clients in Central Pennsylvania courtrooms.

Colgan & Associates Attorney Thomas Clark to Present Divorce Seminar

Thu, 22 Apr 2010 19:13:00 GMT

Attorney Thomas M. Clark will present a Continuing Legal Education (CLE) for the National Business Institute (NBI) on August 11, 2010 in Harrisburg. The program is entitled, "Divorce Law Guide from A to Z." Clark's presentation will focus on the strategies for effective use of discovery in divorce cases.

Colgan & Associates Lawyer Speaks Out

Thu, 22 Apr 2010 18:59:00 GMT

Attorney Timothy J. Colgan of Colgan & Associates presented a Continuing Legal Education (CLE) program for the York County Bar Association on April 19, 2010 entitled "Collaborative Process For Resolution of Divorce, Custody and Family Disputes." The program discussed the roles of attorneys, financial professionals and mental health professionals in the Collaborative process. Colgan presented with Attorney Nichole Staley-O'Gorman of Harrisburg and financial specialist Greg Crumling of York.

Colgan to Present Course on Collaborative Law

Colgan & Associates — Fri, 26 Mar 2010 18:58:00 GMT

On April 19, 2010, Colgan & Associates attorney Timothy J. Colgan will lead a panel presentation to the York County Bar Association on the Collaborative Law process for resolving divorce, custody and other family law disputes. Other members of the panel include Accountant and Financial Planner Gregory Crumling, Deborah L. Salem from Interworks and Attorney Nichole Staley-O'Gorman. The program will be held from 12:00 to 1:30 at the York County Bar Center.

Colgan & Associates Attorney Coaches Mock Trial Team

Colgan & Associates — Wed, 24 Feb 2010 14:19:00 GMT

Attorney Timothy J. Colgan of Colgan & Associates coached the 2009-2010 Northern High School Mock Trial Team. The statewide competition included 340 teams from 285 high schools across Pennsylvania. Northern's team was comprised of 6 students who tried to cases in front of actual juries and sitting York County judges. The team spent countless hours learning legal procedure, court room procedure, rules of evidence and the facts the of the case. The students learned the skills of direct and cross examination and how to make and handle objections. The competition was a great success and the students were amazing in their ability to learn so much in such a short period of time.

Attorney Timothy J. Colgan of Colgan & Associates Appointed as York County Custody Mediator

Colgan & Associates — Wed, 24 Feb 2010 14:11:00 GMT

Colgan & Associates attorney Timothy J. Colgan was recently appointed as a custody mediator for York County. Colgan was was selected to serve a two-year term. York County custody cases that do not settle at the Conciliation Conference are referred to mandatory mediation. The parents must attend at least one mediation session that lasts up to two hours in length. The goal of mediation is to help parents resolve their custody disputes without having to go to the financial and emotional expense of a custody trial.

Welcome to the Colgan & Associates News and Notes Page

Pennsylvania Attorneys — Thu, 18 Feb 2010 00:13:00 GMT

Check back often for updated news and notes regarding our firm and matters of legal interest to you.