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Podcast: News For Reasonable People
Episode: #2,745 - LA home reduced to rubble in the fires drew more than 60 offers and stands to sell for over $1M
Description: A Los Angeles home that was reduced to rubble in the January Palisades fire has become one of the hottest properties on the market, drawing more than 60 offers and entering escrow for well over $1 million — despite being listed for just $999,000.The once four-bedroom wood-and-stucco house in Pacific Palisades was worth an estimated $2.7 million before flames tore through the area.Now, it’s little more than a scorched lot with two standing chimneys. But that didn’t stop a flood of investors eager to cash in on a rebuild.