Burned out parcels in Pacific Palisades

[George Hatch]

14 actives listed since the fire ranging from $1.5M to $3.2M for 5200-8100sf subdividision parcels

And we now have a closed sale of one of these parcels at $1,185,000 for a 10000sf parcel. It apparently just closed today.

 

[Fernando]

14 actives listed since the fire ranging from $1.5M to $3.2M for 5200-8100sf subdividision parcels

And we now have a closed sale of one of these parcels at $1,185,000 for a 10000sf parcel. It apparently just closed today.

Let me know when bottom is near. Always wanted to buy a second home in Malibu.

 

[Joe Flacco]

Are there any sales of homes that are not damaged?

 

[gregb]

Pacific Palisades, current active and under

00-25499357	Active	********	********
00-24436775	Active	********	********
00-24401413	Active Under Contract	********	********
00-24470453	Active	********	********
00-25500471	Active	********	********
00-25499679	Active	********	********
00-25499029	Active	********	********
00-24456235	Active	********	********
CV-25036108	Active	********	********
00-25495949	Active Under Contract	********	********
00-25499791	Active	********	********
00-25499459	Active	********	********
00-25497551	Active	********	********
00-25497809	Active	********	********
00-24442033	Active	********	********
00-25497913	Active	********	********
00-25498371	Active	********	********
00-25498749	Active	********	********
00-24458503	Active	********	********
00-24458531	Active	********	********
00-23298967	Active	********	********
00-25498829	Active	********	********

 

[Joe Flacco]

Looks too complicated for remote analysis. Looks like site conditions makes a big difference.

 

[George Hatch]

Are there any sales of homes that are not damaged?

Not yet. The most recent SFR sale was from 2 days before the fire. $4M for a renovated home of 3250sf on a 14000sf lot. Maybe it's still there, maybe it isn't. There are 14 actives of homes listed after the fires, and 1 condo. $6.5M-$22M

I'd post a screenshot of the listings but PC might have visited the state at some point in the last 3 years and I don't want him to think I'm trying to dox him.

 

[glenn walker]

$1 million minimum for a 8,000 to 12,000 square foot lot...$2 to $3 million for anything with a decent view. That's pocket change for buyers in that area.

 

[Joe Flacco]

$1 million minimum for a 8,000 to 12,000 square foot lot...$2 to $3 million for anything with a decent view. That's pocket change for buyers in that area.

Not really. That is not what history of land sales suggest. The sellers are all listing high.



Edit: Nevermind that sounds about right. But looks like the sellers are all still listing too high.

 

[Fernando]

It will take many years before many homes be rebuilt in certain neighborhoods. During this period, not desirable to live in such areas with empty lots and construction noise, thus prices should be lower.

 

[Charles West]

EPA contractors are on site busting tail to get the debris cleaned out with a 30-day deadline. It would be a hell of a lot fun building some big beautiful steel and concrete modern design with breathtaking ocean views. The wife would give my left one for free rein in the Los Angeles Design Center.