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ocial media turned a buyer of several Malibu lots into a target after the August reports surfaced. Critics mocked the builder’s bulk purchases and wrongly assumed the buyer’s ethnicity, a reaction Zuru Tech US did not anticipate. Marcel Fontijn, director of U.S. operations, explained that converting an empty parcel into a livable home is far from simple. “Rebuilding isn’t for everyone,” he said, citing the long design, contractor selection, permit, and construction phases that have pushed some residents in fire‑hit areas to sell instead of rebuild.
Zuru Tech, founded by brothers Nick and Mat Mowbray, specializes in design and manufacturing software that powers robotic factories owned by its parent company, Zuru Group of Hong Kong. The firm recently acquired 15 Malibu lots, which it plans to use as case studies for its factory‑built home technology. Fontijn told The Real Deal that the company’s research project on prefabricated houses saw an opportunity: with 300 homes destroyed by fire, the sheer number of contractors—framers, roofers, etc.—would overwhelm the local workforce. “We can provide a solution to that problem,” he said. The homes are slated to install in two to three months, with the first project scheduled to start in a year.
Data accuracy has been a challenge for agents in the burn zones. Early MLS listings mistakenly entered standing single‑family homes as finished properties because of software glitches, skewing market statistics. Compass Altadena broker Teresa Fuller noted that MLS fines have since corrected the data. Last year, Altadena saw 350 homes sold; this year only 69. Prices per square foot for standing structures fell to $738 in May but rose to $771 by July. Fuller remains optimistic, pointing to visible framing activity and a growing confidence that Altadena will return to its former mountain‑town charm, which should lift prices again. Her full interview will appear in the November issue of TRD’s magazine.
An October 2 deadline to clear fire debris passed without compliance, leading the city to declare a Palisades mansion featured in HBO’s “Succession” and seven other properties—single‑family homes, apartments, and commercial real estate—as public nuisances. If owners cannot remove toxic rubble, the city will handle cleanup, but owners will bear the cost.
San Diego County’s residential market has broken records. The Del Mar home at 2920 Camino Del Mar sold for $50 million, surpassing the previous $47 million La Jolla deal and becoming the county’s most expensive sale to date.
Buyer behavior has shifted as well. August recorded the highest national share of signed contracts falling out of escrow—15.1%—according to Redfin data dating back to 2017. In Los Angeles, 14.9% of sales fell through in August, down slightly from 15% a year earlier. The primary reason buyers walk away is inspection or repair issues.
These developments illustrate the complex interplay of media scrutiny, rebuilding logistics, data accuracy, regulatory enforcement, market records, and buyer confidence in the post‑fire real‑estate landscape.
