Commercial property has always had a softer market around here. I have first-hand knowledge, because I bought a residential house on the main street of town and converted it to an office. The zoning was "transitional commercial", meaning it could be a residence until someone converted it to commercial, then it was supposed to be commercial from then on. I had a hard time selling it, and my realtor friend estimates I lost about 25% of its value by being commercial rather than residential.
Then to top it all off, when I finally sold it to someone who said she was putting in a pet supply store, she just moved in and started living there. 4 years later I was a little disgusted because I took such a haircut on the price, and talked to the city. They said there was nothing they could do- no teeth to the zoning regulations. In other words, I could have ignored the zoning, sold it to someone to live in, and received a lot more money. Only problem, it would have had to be a For Sale by Owner deal, because the realtors have to follow the zoning laws under their ethics rules.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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