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I am not sure about Blackstone, but there are lots of people rubbing their hands now, waiting to go in for the kill. Socal or should I say LA especially, all the burned areas are some of the highest real estate pricing in the country if not, ranked pretty high up world wide. I see buy out from older folks who wouldn't be able to stomach a long drawn out construction process. If they do, insurance will not pay full pop to replace the high end, architectural gem of a custom homes ( All insurances are sq footage people) and I am not talking about those higher end, big sq' cookie cutters homes in many other parts parts of the country. The custom work are so complex that the insurance normally will not pay to get it back to where it was unless its documented, I suppose? I know a number of those homes out there like the back of my hands, that's was how I made a living for about 15-20 years between the Palisades and West Hollywood right along those Hollywood Hills.
The older folks will take what money they can and leave. They have had their time there, enjoyed the ocean views and the higher standard of living, so its time to take the money and run. I am so fearful that muti-story condos will go up to replace many of these original homes, big lots, trees, and seclusion with great views (already happened in Brentwood). LA's planning dept is so geared up for that type of building due to lack of housing. I hate to see that turn into the "Valley". That wasn't the Valley when I ran around there in my youth. Then there's the mandated low income housing that come along with that type of muti-story construction. Talking about fooking up a nice neighborhood.
I have little interest in helping rebuild out there unless its someone or the house I know. Just this morning, I was at mom's talking with my old neighbor's sister who lives in Altadena. She rounded up four of her neighbors to set up a meeting with me to talk about rebuilding. Three of the neighbors have access to the original plans so that will make getting funding from insurance easier but the permitting process will be a drawn out fight. I might do that due to the fact I have long history of hanging around the Pasadena Foothill area. This is the part of Altadena that had lots of older, mansions, old money. The Greene and Greene I restored nearby years ago burned to the ground. I like to rebuild that again since we had done a lot of research and design on that particular house. Oh yeah, they want those Muti-story condo up there too since parts of that area is zone for R4 which was changed out years ago but due to the historical houses, many of the owner refused to sell. Sad.
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