For those that know Real Estate

Puzzle Piece · ‎06-29-2010

My sister recently lost her home in the fires here in L.A. There's just ashes and cinders.

Her home was valued at 1.3 million. Now, if she decides to rebuild, she will need to pur more money into getting the home built - even with govt. help. As there are those that won't rebuild the street neighborhood will look spotty. I can't imagine values ever returning to what they were as a community or area.

What in your opinion is the best idea to deal with the ordeal. As her home was paid for, she lost the entire 1.3 mil.

Never Forget the Native American Indian Holocaust

jlkz · ‎12-02-2013

@Puzzle Piece

While I do not know all the in's and out's of real estate, there are several questions that your sister should determine for her own needs....at whatever her age is, what are her needs given health, income from all sources, level of stress to be endured going forward, support levels, desired location(s), property type desired, mortgage or rent, etc.

Acknowledging that even with rebuilding, the resultant neighborhood will not be what she was used to. So, maybe finding an alternative living arrangement that is physically and financially acceptable while she regains her stability and strength might be a better first step.

Strength isn't just physical, it is also mental. She has been through an event that most of us could never fathom. My heart goes out to her and every person who has endured those fires of destruction.

She needs to talk to someone who isn't just real estate but can also counsel folks who are at the " Fork in the Road " of major life choices at whatever Life Chapter they are in.

We make a living by what we get. We make a life by what we give.
Sir Winston Churchill

patbz · ‎03-10-2010

I'd sell the land and move out of LA. If you need to stay in Cali the Central Coast, Bakersfield, Lancaster, Ridgecrest are much cheaper ( and much less fire and flood danger). Or move to Nevada, Arizona, New Mexico etc for much better housing, taxation, gas cost and insurance.

Marp · ‎03-09-2010

There are too many unknowns in your sister's life to give any advice beyond keep an eye on what is going on in the community.

There have been numerous reports of burnt down houses selling rapidly and above asking.

One thing she, and the community leaders, need to be aware of is if the buyers are potential residents of the community or if they are simply investors buying up distressed properties. The later will drive prices to unreasonable/unconscionable prices as the community recovers.

What is good for the goose today will also be good for the gander tomorrow.

kaydee50 · ‎02-07-2011

Did she have insurance? As someone suggested, sell the land which is typically the most valuable part of the home.

I personally can't imagine living in CA with fires, mudslides, earthquakes all a very real possibility but people are still moving there.

Good luck to her and everyone else affected.

They CallMe MRWILKES · ‎06-29-2016

The land itself is phenomenally valuable. Land is the most valuable asset anywhere.

As they say, there is no more land being created in California.

ThinkingOutLoud · ‎05-01-2020

@Puzzle Piece wrote:
My sister recently lost her home in the fires here in L.A. There's just ashes and cinders.
Her home was valued at 1.3 million. Now, if she decides to rebuild, she will need to pur more money into getting the home built - even with govt. help. As there are those that won't rebuild the street neighborhood will look spotty. I can't imagine values ever returning to what they were as a community or area.
What in your opinion is the best idea to deal with the ordeal. As her home was paid for, she lost the entire 1.3 mil.

First, I'm sorry for what she has been faced with.

I would take this as a big clue that it's time to move. Change can be a good thing so embrace the opportunity.

Best to her.

lynnie61 · ‎04-28-2010

@Puzzle Piece I'm so sorry for her loss. I can't imagine. I hope she can get some financial assistance. My heart breaks for all those that lost their homes.

SactoSue · ‎06-11-2024

I think having her consider where she is in her life and what she wants to think about for her eventual retirement are reasonable considerations. Does she need to work and how close does she have to be? We just don't have any info on where she is in her life.

Does she want to stay in the LA basin, and why? Climate? Cultural surroundings? Social activities? Healthy living areas? Close to friends?

So much to consider. I would not make any committment to anything for at least a year or two, no matter how "great" the deals are. There are just going to be too many hustlers and scammers out there in the next year or so.

And just NO to Ridgecrest. Have you ever been there? It would be in the bottom of the list, along with Adelanto, Barstow, Mojave, and other high dry desert towns. If moving to a different area is what she wants, she should rent for a year in the area she is interested in before making such a big committment.