In the world of real estate, one is often beguiled by the aesthetics of a home, its gleaming countertops, lavish upgrades, and grand architecture. But as any seasoned realtor will declare, the true value of a home is not found solely between the walls or décor. The essence of its worth lies beneath it, in the land itself. After all, the most enduring adage in real estate is ‘location, location, location.’
In Fountain Valley, the value of land has proven itself to be quite substantial. Within the last five years, only eight vacant parcels have exchanged hands according to the CRMLS (California Regional Multiple Listing Service). The scarcity of land in this coveted city makes each sale a significant event.
The Laguna Beach Water District retained our services to help them in their search for a new piece of land. Given the fact that only eight sales have taken place in the last five years, we knew this was a challenging task. Persistence and tenacity to locate an off market property with the desired lot size and location was the recipe for our success. We are pleased to announce that Laguna Beach Water District has acquired a 22,175-squarefoot parcel at 17902 Bushard St., for $2,750,000. This transaction is for the mutual benefit of both cities, Fountain Valley and Laguna Beach. This marks my fourth transaction with the Laguna Beach Water District. After successfully selling one of their vacant parcels, former Mayor Cheryl Brothers of Fountain Valley, said, “Even dirt in Fountain Valley has value.”
As more prospective buyers line up for their dream homes or like the District seek practical access, the demand for land in Fountain Valley soars. The last sale of an average 6,875-square-foot lot with approved plans to build closed at a staggering $1,120,000 at 10322 Avenida Cinco De Mayo. It seems the age-old truth is reaffirmed: land in Fountain Valley is no ordinary commodity; it is a treasure.
Speaking of treasures, Nick and I were privileged to represent Jim and Vickie McCormick with the sale of their family home. We represented the new home buyers, now new residents of Fountain Valley, Sherif and Emma. The McCormicks have lived in Fountain Valley for nearly 24 years. After receiving eight offers and selling their home in only six days for $1,275,000, they will be starting a new chapter in Idaho.
So, whether you dream of building your forever home or, like our friends at the Laguna Beach Water District, are pursuing something more pragmatic, be prepared—Fountain Valley land is precious. And with each parcel that changes hands, its value only grows, much like the roots beneath it.