Real Estate Recovery in Lincoln, CA - Lot Sales Are Up At Catta Verdera Country Club
Lot sales at Catta Verdera Country Club in Lincoln, CA have officially hit bottom this year, with lots selling at $50,000 (March 2011), $49,000 (April 2011) and $60,000 (May and June 2011). Since then, sales prices of vacant lots at Catta Verdera have doubled, with the last three sales closing at $130,000 (June 2011), $100,000 (June 2011) and $130,000 (July 2011). There is one pending sale of a Catta Verdera lot at $150,000.
With all of this recent sales activity for vacant lots at Catta Verdera, I'm wondering when we'll start seeing another construction project breaking ground, since there hasn't been any new construction in Catta Verdera for a few years now. My guess is that the next home will be designed, built and lived in by the owner. With the high cost of building permits in Lincoln, combined with holding costs that include monthly HOA dues and high property taxes with extra assessments, a builder can't compete with existing home sales by trying to make a profit by building a spec home.
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