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 - The Day Mom Drove the 8N - by Brian Browning. My Dad was wanting to put in a garden but couldn't operate the 8N and handle the old horse drawn plow he had found and rigged up to use with the tractor. Well, he decided to go get Mom out of the house and have her drive the tractor while he walked behind the plow. You got to understand that while my Mom is a hard worker who will always help whenever she can... she had never operated farm machinery before that day. Dad got her out there, explained how the clutch was the same as in our o
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