Located northeast of Sacramento, the City of Folsom is just south of Folsom Lake in Northern California. Folsom is currently the most desirable sub-market in the Sacramento Region for homebuilders, where average sales prices of homes are now close to DOUBLE those of the overall region.
Folsom Fast Facts:
- Residential land north of U.S. Highway 50 traded for $1 million per acre (raw) at the peak of the market in 2005.
- At the current absorption pace, Folsom will be out of finished lots by 2014/2015.
- Folsom enjoys a 5.7% unemployment rate (current California unemployment is 12%), and thus has minimal foreclosure activity.
- Folsom’s schools consistently rank in the upper echelon of school districts not only in the region but in the entire state.
Landmark Folsom REO Property Available for Sale:
Land Advisors Organization is currently marketing Carpenter Ranch – a 1,019-acre master planned community located in Folsom’s Sphere of Influence in Sacramento County.
The property rests along 1.5 miles of Highway 50, and was recently entitled for 2,263 residential units and over 3 million square feet of commercial uses. Previous investment in the land totals over $100 million.
Source: Jim Radler, Senior Marketing Consultant, at (916) 784-3329 ext. 11.