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[quote=Anonymous][quote=Anonymous][quote=Anonymous]So how long do people think recovery/rebuilding is going to take? The real estate is too valuable to not rebuild. 5-7 years? 10 years?

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2 years[/quote]

In December 2017 the Thomas Fire spread from Ventura County to Santa Barbara and burned hundreds of homes. It was the largest fire at the time in California History burning approximately 281,893 acres and destroying over 1,000 structures. That fire has now moved down to be only the 8th largest fire in CA history (incredible that 7 fires have burned more than that in

In the coastal city of Ventura (an hour drive north of Palisades) 535 homes were burned. Same situation as in Palisades - strong Santa Ana winds, sudden fire that travelled quickly through brush and burned hillside homes. The homes in those neighborhoods are currently selling around 1.5 million to 2.5 million so not as expensive as Palisades but still a really nice neighborhood.

Two years later 80 out of the 535 (15%) homes had been rebuilt and people were living in the homes
Three years later 204 out of the 535 (38%) homes had been rebuilt and people were living in the homes
Five years after the fire out of the 299 out of the 535 (56%) of the homes had been rebuilt and people were living in the homes.

Another 70 rebuilds were in process, and 39 were in the plan-checking phase. The owners of the remaining 127 homes may not rebuild for various reasons. They include:

A lack of adequate insurance to pay for the rebuild
The owners moved out of the area
The owners chose to keep the lot vacant until they either sell it or have the funds to rebuild in the future
The owners are searching for an architect or builder to help

COVID obviously affected the speed of some of these rebuilds, but it is an interesting ballpark figure. The other complication to rebuilding for the Palisades is you need to get a California Coastal Commission approval and permit before rebuilding IN ADDITION to any city building permits if you want to build in any coastal area in California. These houses were just outside the coastal zone so they were able to skip that step. The width of the Coastal Zone varies, but it can extend up to five miles inland from the shore, including private and public property, and three miles out to sea. Many of the Palisades homes are for sure going to also have to get Coastal Commission permits. [/quote]

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