Coachella/Imperial Team Sells ±1,700 Residential Lots in El Centro

Land Advisors Organization – California Division is pleased to announce the closing of “Lerno Verhagen,” a ±516-acre planned community within the City of El Centro, County of Imperial.  The property was sold in its current condition as active farmland, with an approved specific plan for ±1,700 dwelling units.

Land Advisors’ Coachella/Imperial Team, which is based out of the firm’s Palm Desert office, represented the buyer (private investor) and the seller (lender) in the transaction. 

With several other sizable Imperial Valley transactions already under its belt, the Coachella/Imperial Team was able to drive value for the seller by leveraging its knowledge of the submarket and access its extensive yet focused network of key industry relationships.

“Given the prime location of this asset, this transaction was a tremendous ‘win/win’ for both buyer and seller,” stated Land Advisors Marketing Consultant, Stone James. “Imperial County is a terrific submarket for farmers and long-term land developers.”  He explained how the region is home to significant farming operations as well as several critical governmental organizations such as U.S. Border Patrol, U.S. Immigration and Customs Enforcement (I.C.E.), and the California Department of Corrections.

Read the Complete Press Release Here

Has “Winter” Gone Missing In The Imperial Valley?

Across the Nation, winter months usher in colder temperatures, fewer transactions and expanding waistlines.  In the Coachella and Imperial Valleys, Land Advisors is keeping the heat up and pressure on by closing 240 detached condo pads, 222 acres of prime residentially-entitled “Ag” land, and placing over 500 acres of prime “path-of-growth” farm land under contract!

In 2011, the Coachella Valley and Imperial Valley sub-markets appealed to private investors looking to buy unimproved land for long-term holds.  As we round the corner into 2012, the homebuilding market is beginning to show signs of recovery, and some reports indicate that housing is making a comeback.  That being said, returns on long term plays for land buyers might not be as far out as initially thought. 

CNBC recently reported that homebuyers are jumping back into second home purchases… Good news for the Coachella Valley sub-market, where secondary residences are a high percentage of home ownership.  CNBC Video: Investing in Second Homes

Source: Stone James, Marketing Consultant, (760) 219-7227