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nthony Marguleas, founder of Amalfi Estates, has lost his Pacific Palisades home to the fire and is now dealing with significant smoke damage at his brokerage's office. "It's a wave of emotions," he said, noting that not only did they lose their home but also many friends' homes, including the school their kids attended. Marguleas estimates he's been in over 2,000 homes destroyed in the Palisades and has sold around 500.
He believes the number of damaged or destroyed homes is underestimated, potentially reaching 6,000 to 7,000 across a dozen neighborhoods. As an agent, Marguleas must navigate his personal situation while helping hundreds of clients affected by the fires amidst media chatter on rebuilding efforts and insurance crises.
Marguleas is frustrated with opportunistic Realtors spreading inaccurate information and price gouging. He's encountered sellers requesting clauses that would funnel profits from future sales to buyers who benefited financially from the fires. Others have offered to buy land, despite the ongoing fire situation. Marguleas estimates receiving 1,000 texts and emails daily from people looking to capitalize on the disaster.
His team is focused on addressing immediate challenges, including helping renters whose landlords claim they've spent upfront rent payments and advising homeowners to do mortgage forbearance. Landlords are inflating prices, breaching state price gouging safeguards. Marguleas believes many agents are canceling or concealing listings to avoid prosecution.
He's critical of the blame game and recall efforts against LA Mayor Karen Bass, urging people to direct energy towards mental health clinics and rebuilding instead.
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