Investing in Cambria, CA? Water wait list for 20 years + already
Recently I am researching a small and beautify city in California, Cambria.
A 5,000 sq ft. lot only cost 30-50K with ocean and mountain view. BUT, there is no water supply currently and instead, they have a water wait list #, eg. CCSD water wait list #150 which means you are in the position of #150 when the government started allow people to build house. But NONE of the # was called since last 20 years and that's why the price keep dropping.
I am so interested in buying a lot at $30K and bet somehow the government will allow people to build with water supply.
What do you guys think?