Seven months after devastating Malibu wildfires leveled oceanfront homes, prime beachfront lots are commanding millions. Despite the recent disaster and insurance challenges, these rare properties, with unparalleled ocean views and direct beach access, are attracting savvy buyers. Real estate experts cite the limited supply of Malibu beachfront land as the driving force behind these high-value sales, predicting increased demand
Malibu beachfront lots, scorched by wildfire, command millions. Despite the devastation, these rare oceanfront properties are selling for seven-figure sums, reflecting the unparalleled scarcity of coastal land. Real estate experts predict increased demand, making these plots a savvy investment
Despite recent wildfires and insurance challenges, Malibu oceanfront lots command multi-million dollar prices. Real estate experts explain that these premium properties, even without existing homes, remain highly sought-after due to limited beachfront availability. Smart buyers are capitalizing on current pricing before demand inevitably surges
Malibu beachfront property is a limited resource: Invest now before rising demand drives prices higher. Smart buyers are securing these ocean view lots, even after recent wildfires, recognizing the irreplaceable nature of coastal real estate. Limited inventory means these prime locations won't last
Devastating January Wildfires Destroy Pacific Palisades Homes: 24,000 Acres Burned, Thousands Evacuated. The Palisades and Eaton fires raged for 24 days, destroying over 6,800 structures and damaging nearly 980 more in the affluent Los Angeles County neighborhood near Topanga State Park. Over 200,000 residents were forced to evacuate this wildfire, impacting the Pacific Coast Highway and Malibu's Las Flores Beach
Malibu Beachfront Lot: $2.75M Ocean View Property with Direct Access. This 6,200 sq ft lot, situated on the Pacific Coast Highway overlooking Las Flores Beach, offers unparalleled ocean views and direct beach access. Previously listed for $3.44M (2023) and $2.99M (May 2024), this rare opportunity represents exceptional value in the coveted Malibu beachfront market, even after recent wildfire damage
Malibu beachfront property: $2.75M ocean view lot. Post-wildfire pricing makes this rare opportunity a steal. Before the fires, this price point was unimaginable. Act fast—beachfront land is limited, and demand is rising
Malibu beachfront land: $3.55M listing after $4.85M 2023 sale. Prime oceanfront lot available despite wildfire damage; high demand for limited beachfront properties fuels premium pricing
Malibu beachfront lots: High prices justified by unparalleled location. Despite recent wildfires, prime oceanfront properties like those along the Pacific Coast Highway command millions. With breathtaking ocean views, surfing, hiking, private beaches, and iconic sunsets, the unique location makes these luxury lots a worthwhile investment, according to Los Angeles real estate expert Tami Pardee
Malibu real estate: a unique blend of raw natural beauty, exclusive privacy, and casual luxury. This coveted coastal town attracts a diverse community, from creative professionals to CEOs, yet retains a small-town feel. Even after recent wildfires, beachfront properties remain highly sought-after, making these prime lots a smart investment
Limited beachfront Malibu properties, even after wildfire damage, command high prices due to scarcity and desirable amenities. These oceanfront lots, despite the destruction, remain valuable assets for discerning buyers
“Strict coastal regulations and limited land keep inventory low, which keeps value high,” Pardee said. “That’s why seven and eight-figure listings aren’t the exception. They’re the average.”
That still applies, Pardee said, even for fire-damaged properties perpetually threatened by natural disasters, rising sea levels, and erosion.
“It’s all about the land. If a burned home is listed for millions, the structure isn’t what’s driving the price. It’s the lot,” Pardee said.
However, it’s not just money or natural disasters that potential homeowners must navigate.
As the Palisades Fire and others tore across Los Angeles County, home insurance companies landed under the spotlight.
Business Insider reported in January that since 2022, some insurance companies have stopped writing new policies, cut back coverage, or altogether dropped California residents as wildfires and other extreme weather events become an increasingly unavoidable reality.
Max Dugan-Knight, a climate data scientist at Deep Sky Research, told Business Insider that some home insurers’ decision to weed out Californians is “precarious.”
A report published by Deep Sky Research in June found that 1 in 5 homes located in “extreme fire risk areas of California” have lost coverage since 2019. Home insurance premiums, meanwhile, rose 42% in California’s “most fire-prone areas” since 2009.
“If insurance companies are worried, we should all be worried,” Knight said. “They have the most advanced modeling, they have the latest data, and they are highly motivated to get this right, because if they don’t, they risk their entire business.”
Knight said buying property is a long-term investment, one that some Californians may not be able to secure due to the lack of available insurance.
“One of the first things the mortgage lender will ask is, ‘Do you have home insurance?'” Knight said. “If you cannot afford home insurance or it’s simply unavailable in your area, then the lender will almost certainly not approve your loan, and that buyer will exit the market. That will happen to lots of buyers simultaneously in these high-risk areas.”
“If you can’t sell a property, the value goes down,” Knight said.
Locals who can’t obtain insurance from traditional companies often rely on California’s FAIR plan, a syndicated fire insurance pool established in 1968. But that’s not always enough.
“Most homeowners and buyers end up turning to the California FAIR Plan, which is basically a last-resort option,” Pardee said. “But the coverage limits are low, especially for Malibu’s higher-end homes, and that leaves a big gap.”
Pardee said some buyers try to “piece together multiple policies through specialty brokers. But even then, it’s not guaranteed.”
“It can be incredibly expensive, time-consuming, and sometimes not even possible,” Pardee said. “We’re talking about people who can afford multimillion-dollar homes who are still struggling to get the right coverage.”
Knight added that cutting emissions is critical, but Californians and many others will still likely face the fallout of the climate crisis.
“If a buyer is paying any attention to that, they might think twice about buying in a high-risk area,” Knight said.
Even with wildfires and insurance issues, Pardee said most people searching for homes in the area understand the risks.
“In Malibu, most buyers know the terrain, both literal and emotional,” Pardee said.
Pardee said the lifestyle and outdoor living in the area outweigh the risks for most potential homeowners.
“Malibu has dealt with fires for decades. It’s part of the rhythm here, and buyers come in with their eyes open,” Pardee said.
So far, Flagg said several people have expressed interest in the $2.7 million plot of land.
“Buyers will have the opportunity to build from scratch,” Flagg said, adding that a disaster recovery initiative by Los Angeles County can also expedite the permit process.
More than 800 homeowners in Pacific Palisades, Altadena, and other affected areas have applied for rebuilding permits, according to a July report by The Los Angeles Times.
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