T
he aftermath of the Los Angeles fires has led to a surge in listings for land where homes were destroyed, with corporations and individuals snapping up these properties at discounted prices. In areas like Pacific Palisades and Altadena, residents are choosing to sell rather than rebuild due to time or financial constraints, while others simply don't want to return to the area. Despite this, buyers are eager to purchase these lots, with some selling for hundreds of times their asking price.

    Daniel Cabrera, owner of Fire Damage House Buyer, notes that many lots will sell for over asking price and that a few burned properties in Palisades and Altadena have already sold. A scorched lot in Pacific Palisades recently sold for nearly $1.2 million, while regular lots are going for between $1 million and $4 million. Owners of larger, ocean-view properties are not selling as they can afford to rebuild.

    The demand for these burnt-out properties is gaining traction, with Cabrera receiving inquiries from owners and non-specialist realtors looking to sell their properties quickly. He attributes this interest to the convenience of the sale process, which allows buyers to purchase homes "as-is" without inspections or appraisals. Sellers can also benefit financially, as they receive payment from homeowners insurance in addition to the sale price.

    Cabrera predicts that it will take two years for new homes to be fully built and functioning, citing the long and uncertain path of rebuilding. He notes that developers are eager to get started, but still need permits before construction can begin. The new landscape of the area is impossible to predict, with zoning regulations playing a significant role in determining what types of developments will be allowed.

    Former real estate agent Josh Altman predicts that up to 70 percent of Pacific Palisades residents may never return to rebuild their homes due to affordability concerns. Meanwhile, the city's towering palm trees have been identified as a potential future threat, with their dead fronds turning into embers that can spread quickly in the wind.