Homes Destroyed by Palisades Fire Listed for Sale by Mary Cummins

Some properties which were destroyed in the Palisades fire are now listed for sale. Two are now pending. They range in price from $749,000 to $2,950,000. They are selling at around 30-72% of their previous AVM home value. These are list prices. They have not sold. What matters is the final sale prices. Some of these listings may be over priced. I did not figure out the previous home or land values because I don't have the time right now. 

Based on what I've been seeing properties are being listed at about 50% of the previous land value. All of these burned properties need to have the debris and topsoil removed. The foundations will need to be dug up and removed. Toxicity tests must be done on the soil. They will need new soils and geological reports and new building plans. Then they will need to be built. With tariffs construction costs will be significantly higher than they are today. Some supplies may not be available due to shortages. There will be construction labor shortages. All of this is going to take a lot of time. They estimate 12-18 months to clear debris from the lots. This will cause an increase in holding costs by at least two years.

There will probably not be any loans available to purchase the land. Construction loans will be difficult. There may not be fire insurance available which means you must pay all cash. Lenders insist on fire insurance to protect their asset. When the homes are finally rebuilt fire insurance will again be an issue and huge expense. Some of these areas have burned repeatedly. There will be lasting stigma which will negatively affect value for at least five years and probably more. Currently the area is lacking in some supporting facilities and utilities have not been restore. Some roads in the hillside areas will take a while to clear. All of these things negatively affect property values. I predict it will be similar to after the Woolsey fire but more severe because of the larger number of homes destroyed. Five years after Woolsey only 37% of homes rebuilt.

16650 Linda Terrace $2,295,000 72% of AVM home value

Listed 2018 for $2,995,000 

RealAVM $3,200,000

7,493 sf

1309 Palisades $749,000 57% of AVM home value

2012 listed $699,000

RealAVM $1,300,000

136,769 sf

723 Radcliffe $1,695,000 67% of AVM home value

2021 $2,250,000

RealAVM $2,500,000

6,973 sf

1159 Monument $2,950,000 52% of AVM home value

2015 $2,500,000

RealAVM $5,600,000

7,730 sf

674 Palmera $1,499,000 59% of AVM home value

RealAVM $2,500,000

4,567 sf

16008 Miami Way $1,500,000 68% of AVM home value

RealAVM $2,200,000

5,745 sf

14800 Mc Kendree $2,895,000 30% of list price immediately before fire
Pending
2025 listed $9,495,000
7,692 sf
Blog article I wrote about this home and price, value. 
https://mary--cummins.blogspot.com/2025/02/fire-sale-home-destroyed-by-palisades.html

17126 Avenida de la Herradura $999,000
Pending Sold $1,185,000 02/2025
2005 sold $1,541,000
RealAVM $1,000,000 something up with that, ignore
9,932 sf
Blog article I wrote about this home
https://mary--cummins.blogspot.com/2025/02/pending-burned-home-land-sales.html

Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.

• Mary Cummins LinkedIn
• Mary Cummins Meet up
• Cummins Real Estate on Facebook
• Mary Cummins Real Estate blog
• Cummins Real Estate on Google maps
• Mary Cummins of Animal Advocates
• Mary Cummins biography resume short
• Mary Cummins Real Estate Services
• Animal Advocates fan page at Facebook.com
• Mary Cummins
• Mary Cummins Animal Advocates on Flickr photos
• Mary Cummins Animal Advocates on Twitter.com
• Mary Cummins on MySpace.com
• Mary Cummins on YouTube.com videos
• Mary Cummins of Animal Advocates on Classmates
• Mary Cummins on VK

Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin

DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html