The state of California is expected to generate a significant increase in sales tax from the predicted $3.7 Billion in sales from legal marijuana by year end (for comparison, beer sales were $5 Billion in 2017).
Obviously a win for the state, but how will that effect property values here in San Diego?
Values for residential properties may not go higher and in fact may decrease if they are in close proximity to marijuana businesses.
Some of the biggest winners will be the landlords of factories and warehouses where zoning allows manufacturing and growing of marijuana.
I am currently representing a client who is selling an industrial property he owns where zoning allows cultivation.
We continue to get multiple back up offers on the property, all from those looking to cash in on the manufacturing of the now legal drug.
The biggest challenge for buyers of these types of properties is the risk of federal seizure, and difficulties getting title insurance because of a not so minor detail, it is still against Federal Law!
‘He has been there anytime I needed him and I know if I need him again he would be there too. Brad gave 100% from the first time he called me till the sale was done.’
‘We really felt like Brad was on our side throughout the transaction and knew how to navigate the process calmly and effectively’
-Curt and Kim C
‘If you are skeptical on a realtor look no further. You will get what you want and when you want it with Brad. His knowledge on this market is second to none. The most unusual thing about this transaction is his exceptional follow up thru out the entire process, and even after we’ve moved in and got settled. He is one of a kind in this market and this profession’
-Scott & Allison T.
‘Thanks to Brad Brinkman and his team we now have a beautiful new home and a great investment into our future.’
-Ryan & Amanda F.
‘He found my house for me when others could not, in a location that I thought would be impossible. His aggressiveness has given me the opportunity to live in a fantastic place.’
-Trace H., Pilot Hawaiian Airlines., U.S. Navy Pilot
‘You made it easy for us to make this move into our new home because you took on all the worries, handling our transaction with skill and expertise. Specifically we were impressed with your approach to business, treating each and every customer as you treated us; as though we were your most important clients’
‘He made each transaction very smooth and it was great peace of mind knowing I could count on him.’