When land is worth more than a home
A couple of years ago, Carl and Susanne Wise’s house on Camino Real in South Sarasota was assessed at nearly $1 million.
Then it disappeared.
The Wises bought a new home, and in this market the rent they could charge did not cover the expenses of the old home. So, they had the 13-year-old, five-bedroom/four-bath home demolished.
Real estate: Candy Spelling gets $12-million price break on new penthouse
Candy Spelling’s long-pending purchase of a two-story penthouse condominium in Century City closed Wednesday at a reduced price that still made it one of the most expensive deals ever for a Los Angeles condo.The widow of TV mogul Aaron Spelling paid $35 million — or $2,250 per square foot — for the top two floors of the Century, a 41-story condo building completed in July on Avenue of the Stars.
