Paul Hornsby & Company - Austin, Texas Real estate appraisers and expert witness in Austin, Texas
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Since 1980, Mr. Hornsby has been a practicing real estate appraiser with an office in Austin, Texas, specializing in the valuation of complex properties and in support of litigation proceedings. Mr. Hornsby also serves as an arbitrator in real estate disputes.

Mr. Hornsby often serves in the capacity of expert witness in cases involving eminent domain, bankruptcy, general commercial litigation and ad valorem tax appeal. He is qualified as an appraisal expert in numerous county courts, state district courts, Federal District Court, U.S. Bankruptcy Court, and various commissioners' courts and appraisal district review boards. Mr. Hornsby has testified over 700 times in depositions, special commissioner's hearings and trials.

In addition to real property appraisal, Mr. Hornsby provides counseling services and separation of real estate, tangible personal property, and intangible assets. He is the owner of ph Business Advisors, a business valuation firm specializing in the appraisal of business enterprises, partnership interests, and the allocation of tangible and intangible assets. Land planning services are provided by our sister company, alterra design group ( and brokerage services by Hornsby Realty (

Licenses and Designations:

  • MAI Designation - Appraisal Institute, Certificate No. 7305
  • SRA Designation - Appraisal Institute
  • State Certified General Real Estate Appraiser #TX-1321761-G
  • Texas Broker License #283369-05

Associations and Activities:

  • Board Member, Foundation Appraisers Coalition of Texas
  • Mentor, Texas Appraiser Licensing and Certification Board
  • Arbitrator in real estate disputes
  • Member, International Right of Way Association
  • Affiliate Member, Texas Association of Appraisal Districts
  • Instructor, Appraisal Institute - Uniform Standards of Professional Appraisal Practice and Business Practices and Ethics
  • Appraisal Qualifications Board (AQB) Certified USPAP Instructor
  • REALTOR - National Association of Realtors


University of Texas at Austin, B.B.A. Degree in Finance, August 1977

Lectures and Publications:

  • Choosing & Valuing an Economic Unit, IRWA/AI Joint Meeting, 2017
  • Shedding Light on Dark Store Theory, Metropolitan Council of Appraisal Districts, 2017
  • Intangible Assets in Eminent Domain, Eminent Domain Conference, 2017
  • Sale, Sale, What's in a Sale!, Ad Valorem Tax Seminar, 2016
  • Fee (It Really Is) Simple; Texas Association of Appraisal Districts Conference, 2015
  • Separating Tangible & Intangible Asset Values in a Texas Refinery: A Case Study; Appraisal Institute, 2014
  • Transmission Lines: Acquisition, Valuation and Condemnation, Austin Chapter of the Appraisal Institute and IRWA Chapter 74, 2012
  • Responding to Daubert Challenges, Eminent Domain Conference, CLEŽ International, 2011
  • Equality and Uniformity-Commercial Properties, Appraisal Review Board, Travis Central Appraisal District, May 2009
  • Appraisal Values in an Unsettled Economy, Graves Dougherty Hearon & Moody - Banking & Real Estate Clients, October 2008
  • Fee Simple Estate - How Many Sticks in the Bundle?, 22nd Annual Legal Seminar on Ad Valorem Taxation in San Antonio, 2008
  • Real Estate Appraisal Issues and Ethics, Eminent Domain for Attorneys in Texas, 2007
  • Contemporary Appraisal Issues, Central Texas Commercial Property Exchange, 2007
  • Capitalization Theory & Techniques, Chartered Financial Analysts, 2007
  • Material and Substantial Impairment of Access, CLEŽ International, 2003
  • Fee Simple Versus Leased Fee Valuation: A Study of Appraisal Models, Downtown Austin Alliance, Institute of Real Estate Management, 2001
  • Regulatory Takings, International Right of Way Association, 2000
  • The Schmidt Opinion from the Appraiser's Perspective, Office of the Attorney General, State of Texas, 1993
  • Asbestos Abatement and Lead Paint: Effects on Real Estate Value, Texas Association of Appraisal Districts, 1992
  • The Endangered Species Act and Its Impact on Property Value, Texas Savings and Loan League, 1989
  • Valuation Theory, Real Estate Symposium, University of Texas, 1984