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I think either are beautiful places and places that I would retire to myself. I am not sure what you mean by water situation. They had a building moratorium there years ago, but from what I understand they moved beyond that and are now on water meters.
I have friends that live up in both places and love it. Cameron Park is further up on the hill so going into Sacramento would take about 10 mins more. The person I would check with would be KidBlue in the Sacramento forum as he is up from that area and very knowledgeable.
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