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n the aftermath of last month's devastating Eaton fire, a 9,109-square-foot vacant lot in Altadena has been sold for $550,000 - a staggering $101,000 above its asking price. The property, which was once a rental home, is now a prime piece of real estate due to its flat terrain, a rare commodity in hilly Southern California.

    The sale is part of a growing trend of decimated properties hitting the market, with another incinerated home in Pacific Palisades selling for "well over" $1 million. Real estate agent Brock Harris attributes the frenzy of interest in the Altadena lot to its unique characteristics and the speed at which it was listed.

    Typically, land listings can languish on the market for years, but this property's flat terrain makes it highly valuable to homebuilders and house flippers. Harris notes that even he was surprised by the swiftness of the sale, with serious offers pouring in within a day.

    The lot's previous owner, who purchased it just eight months prior for $965,000, decided to sell after the fire reduced her rental property to rubble. She opted not to rebuild, citing concerns about the lengthy process and uncertain value of the home as a rental. Harris estimates that at least one-third to half of Altadena homeowners share this sentiment, choosing to sell their land rather than rebuilding.

    As the community weighs its options, some residents are calling for a preservation of Altadena's character, fearing displacement by new developments. However, Harris argues that homeowners have the right to sell their property and walk away with a profit. He notes that half of the town remains standing, and that local builders, not corporations or hedge funds, are driving the market.

    The "Altadena Not For Sale" movement aims to rebuild the community as it was before the fire, rather than replacing it with new developments. However, Harris believes that some fear surrounding property sales is misplaced, citing misconceptions about who is buying the land and what kind of development will occur. As Altadena begins to rebuild, Harris emphasizes that the town's character lies not in its houses, but in its people - and that getting residents back into their homes as soon as possible is key to restoring the community.