Cayucos Homes 2782 Richard Ave   Cayucos Lots downslope Gilbert Lot - inside urban reserve $60,000   Morro Bay Homes 306 Yerba Buena

Potentially Buildable Lots - Downslope Gilbert in Cayucos These lots are waiting for the Nacimiento Project to be completed (estimated 2010). The county plans to make water and sewer available at that time. The individual home owners must first build a road to their property. Gilbert is only partially graded. Homeowners may choose to form a special assessment district and have the county pave the road and pay for it over time. Call for additional information

Urban Reserve: The urban reserve line goes down the center of Gilbert. Lots on the upslope of Gilbert lie outside the urban reserve and are considered paper lots. The only exception lies between Lee Ave and Chaney. And even some of the upslope lots between Lee and Chaney are in question. Paper Lots These lots have been zoned Rural Residential. The rural designation brings with it a minimum buildable size of one acre. As these lots are less than an acre, 18-19 additional adjacent lots must be purchased to equal an acre. Once you have 20 lots you can combine them into one parcel and the county will talk to you about a building permit. However, these lots do not have water, power, sewer or road available and it will be expensive and difficult to develop. As a result, a number of owners have given up and let them go back to the county for unpaid taxes. In January 2005 the county started selling these lots to the Cayucos Land Conservancy. They are not available to the public for purchase. What this means is that it will soon be impossible to acquire 20 contiguous lots thus making all paper lots virtually worthless. Buyers should talk to the San Luis Obispo County Planning Department before considering making a purchase of any paper lot. So why would anyone want to buy one? I've had clients who talked to the Planning Dept and told me that the Planning Dept said the same thing I told them but they didn't believe us (their crystal ball said differently) and wanted to buy the lots anyway. Another client said all she wanted was a place for a picnic table and a chair to watch the surf. So for various reasons they continue to sell. So who knows, maybe someday the county will change their minds but I think your odds are better at buying a lottery ticket.

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Breck Smith is a licensed Real Estate Agent in California.