Gainesville, FL – 8 lot subdivision on 1 acre lots – all lots sold and closed for $165,000 to $175,000 each within the past 2 months. (Minimum house size 3,000 sf) – superior location. 1 acre tracts on the SW side of Gainesville sell for about $40,000 per lot. – (1,500 to 2,200 sf) – inferior location, inferior site Quite a disparity: I have a lot I am appraising that is 2.5 acres in size with a 40 year old house – in bad shape. Excellent location. Surrounded by $800,000 to $2 Million Dollar homes. The subject street has immaculate homes about 5 in total – all 2,000 + sf. –all homes were built 25 to 35 years ago. My subject is the oldest home. A lot just sold in a planned development – the last lot less than ½ a mile from the subject for $125,000 - 1.78 acres. There is a listing of an old house with 5 acres near the subject with an asking price of $257,000. I have a comp of a 7 year old home that sold on 2.5 acres for $267,000 same size as subject or slightly larger in a similar location. What I am thinking is that my subject lot may be worth $200,000. Am I crazy?