Part One: Missed Opportunity

I did some research this weekend on the history of the for sale empty lot next door, and my findings make me think that they are way over priced on what they are asking($57,500).

Here’s what I found. The lot was purchased by the current owner in 2002 for $15,900. The current city assessed value is only $37,500. They are asking $20,000 more than the accessed value and more than $40,000 what they paid for it only 5 years ago.

I understand the owner wants/needs to make money on the sale of real estate, but these numbers to me seem way out of whack. Anyone care to share their opinions?