A mysterious group of investors backed by Silicon Valley billionaires has been buying up massive amounts of land in northern California for years. Now, they’re reportedly planning to turn it into a walkable utopian city that would appeal to tech companies and their employees seeking a change of scenery from the high-priced Bay Area.
The Company that buys land in CA behind the purchases, Flannery Associates LLC, hasn’t revealed itself or its plans for the land, but it has reportedly spent more than $800 million in recent years. It has made offers on hundreds of acres at a time, paying several times the market rate and sometimes even buying parcels that haven’t been listed for sale.
Local officials say they’re concerned about the impact of Flannery’s purchase spree on the environment and the area’s agricultural economy. They also worry it could jeopardize the security of nearby Travis Air Force Base, which is used to refuel military aircraft and provide transportation for aid supplies sent to Ukraine during its conflict with Russia. The company’s secrecy and the lack of information about its plans have raised concerns about whether foreign investors are involved, with some calling for a federal investigation into the matter.
Some lawmakers, including a Democratic congressman from the region, have been demanding more transparency from the company. Flannery has responded by suing a few of the farmers and landowners it has bought land from, accusing them of colluding to inflate property values. The lawsuit was filed in May and names Barnes Family Ranch Associates, Lambie Ranch Associates and Kirby Hill Associates.
Despite the controversy, many people choose to sell their land for cash. Some want to cash out of their investment because they realize that their plan for the property has changed or because it’s too far away from cities where there are job opportunities. Others have inherited land they don’t wish to keep and are looking to quickly close on the transaction.
Selling to a we buy land California company offers advantages over the traditional real estate market. For one, the process is much faster since there’s less paperwork and no banks involved. Additionally, there are no inspections or appraisals required and the deal can close on your schedule.
If you’re considering selling your land, it’s important to weigh the pros and cons of each option. Ultimately, you need to decide what’s best for your financial situation and goals. There are a few different options for how to sell your land in California, from selling to a we buy land California company to listing it on the open market. Regardless of the route you take, be sure to get professional advice so that you make the best decision for your unique situation.