The Real Deal Miami

When land is worth more than the home that sits on it

December 06, 2010 09:08PM

The Wises’ home in South Sarasota was assessed at nearly $1 million a
few years ago. Shortly after, when the expenses of maintaining it got
too high, the home disappeared. The couple had the 13-year-old,
five-bedroom home demolished. With a turbulent home market, and shaky
rental potential, a property’s true value lies in the land, Susanne Wise,
a commercial real estate agent, says. [Herald-Tribune]