In 2010 and 2011, a majority of the land sales were driven by financial institutions that were in a distressed position to move land holdings off their books. The majority of the buyers for these properties in 2010-2011 were speculative investors that had a 3-5 year business plan before selling. Now that the financial institutions have sold through most of these distressed assets in West Riverside, the question to investors, developers and homebuilders is who now is in a position to sell?
LAO – West Riverside Current Projects: Land Advisors’ West Riverside Team is tracking a number of off-market projects that it expects to transact on this year. The Team just secured a high profile mixed-use listing in the City of Riverside that it hopes to bring to market in the next 30 days.
2012 Land Activity: On January 18th, 318 acres of unimproved land in the City of Corona sold at the Court House steps to a land investor.
Source: Mitch Casillas, Marketing Consultant, (949) 852-8288 x23