With cannabis’ increasingly legal status, it was only a matter of time before real estate ads aimed at pot producers came out into the open in California. That time is here.
“Awesome Marijuana Farm For Sale in Mendocino County, California,” states a recent ad on Craigslist.
The 80-acre parcel, represented by Sonoma County real estate broker Rene Caro, is among the first California pot-producing properties to be advertised as such since voters in November passed Proposition 64, which legalized the recreational use of marijuana.
“At first I was scared to do it,” said Caro, who deals primarily with residential properties. But after last year’s vote, it seemed like a good time to “list it for what it is.”
Caro said a friend who works in marketing helped convince him.
“It was a marketing decision entirely,” Caro said, adding it took some time to convince the landowner to advertise the property for marijuana growing. The owner remains unwilling to be identified.
Openly advertising cannabis properties may be new to California, but it’s a trend that began several years ago in Colorado, Oregon and Washington that earlier legalized recreational pot use.
Websites like www.420property.com have multiple listings advertising the merits of their clients’ properties.
“The hard work is done. Now it is ready to make money ... lots of money,” states an ad for a Washington state property with an existing 33,000-square-foot cannabis growing operation that includes water, power, security devices, greenhouses and state approval.
“Perfect grow climate. Lots of room. Will and can produce more than 500 plants. The future worth of this licensed operation is in the 7 figure range,” boasts an ad for 21 acres in southwest Oregon.
The new openness in California has surprised some of the most seasoned real estate agents as well as long-time marijuana advocates and farmers.
“I didn’t think I’d see it this fast,” outspoken Mendocino County-based cannabis activist and grower Tim Blake said of the advertising. “Even for me, that’s a trip.”
Kevin Sullivan, a real estate agent who, with a partner, specializes in ranch properties in Mendocino and Humboldt counties said “it sort of blows you away. You’re just not used to people talking about it openly.”
The rush to buy land in the two counties has increased prices by about 30 percent to 40 percent in the last year or two, he said.
While the properties may be openly advertised to the cannabis industry, many property owners accustomed to decades of hiding their crops prefer staying in the shadows. Some are leery of the new openness because cannabis cultivation remains illegal under federal law. Others may not want friends and family to know, said Dana Wallace, a Bay Area real estate broker who last year began specializing in cannabis-related businesses and properties. She said she represents buyers and sellers from throughout the country.
“It’s still very hush hush,” Wallace said. Most of the ads on 420property.com that feature existing growing operations do not list addresses. Some sites devoted to pot property sales don’t list agents. Instead, written inquiries must be submitted.
Often, property owners want to meet real estate agents and potential buyers face to face before divulging exact locations of their land, said Wallace, who’s been in the real estate business 14 years. She made the decision to focus on marijuana-related properties and businesses last year as the demand increased.