Sunday, December 12, 2010

California Pines Unit 2 lot sells for $570 on eBay

In a no reserve auction on eBay, a Unit 2 lot sold for just $570. Unit 2 is the closest section of California Pines to Alturas and it's right alone county road 54. This makes it extremely easy to access, unlike the mountain units which can take an hour on a dirt road to reach.

So it came as quite a shock to me to see such a prime lot sell for so little money. I was even tempted to bid on it myself but there are still a few troublesome open issues with California Pines that I'd like to see resolved before I'll buy.

The main issue that stands out to me is that the CC&R's imposed by the California Pines Property Owners Association (CPPOA) are too limiting. California Pines is a failed real estate development, in my humble opinion, and needs no CC&Rs. By failed I mean that few people who bought land built a house. For decades the primary real estate investment activity seems to have been land flipping to newer batches suckers. I'd like to see this change.

At this point all these rules do it make it extremely expensive to build a house there, again in my humble opinion. If the CPPOA were to remove these limitations and simply allow the normal Modoc County governance to regulate construction, buying land there would become much more attractive to me.

I'd really like to see the current property owners rise up and oust the existing CPPOA management, or at the very least demand changes to the CC&Rs and open the place up for low-impact, off-grid, development.

Below is a screenshot from the last moment of the auction, just click it to zoom in.



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