[chrisinoc]

The John Wayne home in Newport Beach was substantially remodeled and Ozzie and Harriet Nelson home in Laguna Beach was torn down.

The real estate was worth more than the existing homes.

[headstamp 2]

“The real estate was worth more than the existing homes.”

And there you have it. Here in Northern Westchester county NY I routinely saw properties bought with beautiful houses on them only to be torn down and new custom built homes erected in their place. The land was worth more than the house.