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.