re: Before and After Images of the Palisades Hartzell Street Area

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It makes no sense'

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It does if it's a resident or assessor returning to check property

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It's shocking that California, with all of its regulations, doesn't Mandate non flammable materials for roofs and siding. We build homes on the Gulf coast to withstand 140 MPH winds, and elevated enough to survive a 15 ft storm surge. They can't make roofing out of metal or ceramics?

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New construction is in some areas. You can't really force someone to put a tile roof on their house that was built in the 50s.

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The van was parked before the fire... LINK

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I saw a video the other day that showed an early C3 Corvette sitting in the front yard of a burned down house. Car appeared pristine. The owner had parked it in the yard in case the house burned.

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So many of those people were counting on home equity as their retirement nest egg.

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The money was in the land, not the house. Those houses are not that big to justify $4-5Mil, so its obviously the lots that were supposedly worth $3-4 Mi, and the improvements were another million tops.

After this fiasco, the question now is what are those lots worth to investors? Not sure if this remains a place people want to pay top dollar for in the future.

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The tiny lot is what costs so much money.

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You could easily buy a place in a less crowded part of LA with that kind of money.

Z

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But the people who respond “meh, they deserve to have everything they own destroyed because they have different ideas about politics than me”

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FWIW, I don't think that's quite what you're seeing.

The critique if LA is identical to inner city multigenerational impoverished folks voting for the same corrupt government hacks, again and again and again. If a demo repeatedly votes progressive, but gets regressive results in return, common sense would say it's time for a switch.

California safety and services have been destroyed under one-party rule for a half century. At some point it is an obvious equation of reaping what you sow. Those communities in fire prone areas voting for the defunding and DEI'ing of fire and police, refusal to manage forests, mismanagement of LADWP, etc. had to know they were playing with fire (pun intended). Yet they continued down that path.

It's like an alcoholic drinking and driving. He knows he shouldn't do it. Yet he manages to keep arriving home unscathed ... until he doesn't.

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I am interested in the 13K property, at bottom left of center.

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Sold for $12.5K.
Valued at $3M

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After this fiasco, the question now is what are those lots worth to investors? Not sure if this remains a place people want to pay top dollar for in the future.

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I heard someone got offered $750k for a lot that had a multimillion dollar house on it. I'm sure there are a bunch of people looking to take advantage. That could increase the lot prices if people hold out.