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May 5, 2016

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The Economy in 2007, Emergent Issues, Property Values, Expanding Markets

| 12/1/2006

William Miller Jr.
Shareholder, President
Moore Stephens Lovelace, P.A.

Property Values

We were at one point in 2005/2006 looking at building our own corporate headquarters, and we had entertained possibly doing some things in Winter Park. But the prices in Winter Park were just not to the point where we thought it made economic sense to buy and build on our own dirt. So we stopped our pursuit.

The costs were so high it took us out of the market. We have clients that are developers, so we are aware that the costs of commercial space are increasing.

I just didn't realize how high the cost had risen in terms of what we were looking for and the quality product we wanted to operate out of.

We'll keep our eyes open and wait for the market to come back to us. Hopefully, it will. Real estate is still a good investment in Florida and always will be.

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