Tuesday, November 10, 2009

The Market for Bare Land in the Chico Area


Bare land lots and parcels were selling at premium prices in 2005 as move up buyers, cashing in on the appreciation of their current homes competed for the best cul-de-sac, oversized and view lots on which to build their dream homes.

At that time in-town residential lots, if you could find one, were selling for as much as $215,000 (Godman Ave.) and estate-sized view lots for $365,000 (Canyon Oaks). This 6 acre lot (see photo below), 15 minutes from town with beautiful views but no water, power or pavement sold for $120,000 cash. (continued below)

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