Real Estate Home Run! - Spring 2014

In June of 1997 Harshman & Company, Inc. (as agent for the owner) sold a 10,500 square foot lot at 1367 4th St., in the heart of the Rosemary District for $36,000 and subsequently sold the same parcel in February 2001 for $78,500.  In 2004, property values and interest in commercial real estate began to sky-rocket.  During the unrealistic “boom” time from 2004-2008 offers as high $750,000 were received on this same parcel - none of which closed.  In 2008 interest from buyers stopped as the Great Recession began.  Many properties purchased during the “boom” time and at unrealistic prices were foreclosed, flooded the market with distressed sales and property values plummeted. Fortunately, there is a happy ending to this story as the market has slowly recovered and in January 2014; Harshman & Company, Inc. sold the same parcel for $425,000.  If you choose wisely; Sarasota real estate a great investment.