California Governor Gavin Newsom will protect homeowners affected by the Palisades, Eaton, Hearst, Lydia, Sunset and Woodley fires from unsolicited land offers. is intervening. Newsom announced Executive Order N-, which prohibits speculators from making “aggressive, unsolicited and undervalued” cash offers to homeowners in 15 Los Angeles ZIP codes for 90 days starting Jan. 6. 7-25 was issued.
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California Governor Gavin Newsom will protect homeowners affected by the Palisades, Eaton, Hearst, Lydia, Sunset and Woodley fires from unsolicited land offers. is intervening. Newsom announced Executive Order N-, which prohibits speculators from making “aggressive, unsolicited and undervalued” cash offers to homeowners in 15 Los Angeles ZIP codes for 90 days starting Jan. 6. 7-25 was issued.
If speculators violate the order, they could face misdemeanor charges punishable by a $1,000 fine and up to six months in jail.
Gavin Newsome |Credit: LinkedIn
“As families grieve, the last thing we want is greedy speculators taking advantage of their suffering,” Newsom said in a written statement. “I have heard directly from local residents and victims who received unsolicited and predatory offers from speculators offering cash well below market value while their homes were on fire.”
Newsom said his office has been flooded with reports from people in Los Angeles about land speculators specifically targeting homeowners in Altadena. Altadena’s history dates back to the 1850s. But in the 1960s and 1970s, when white homeowners moved to other parts of LA amid desegregation and redevelopment conflicts, the community became a haven for black and Hispanic homebuyers. It became the ground.
Land speculators are flocking to the area to make undervalued offers, especially to aging homeowners.
“Altadena’s diverse and vibrant community has been hit particularly hard by this disaster, with the Eaton Fire destroying much of downtown, numerous places of worship and cultural centers, and countless commercial and commercial facilities. , large areas of the community were damaged or destroyed, possibly including thousands of homes,” the order said.
“Recovery from this disaster will involve not only rebuilding the homes, buildings and physical infrastructure that were lost, but also preserving the bonds of community and the culture that has grown and thrived in the areas destroyed by these fires. is also required.
“I have heard directly from homeowners, faith leaders, and business property owners who are giving up real estate, often representing their life savings or family inheritances, while this fire is still burning. “I have heard firsthand that they have received unsolicited offers to purchase for much less than their fair market value prior to this emergency,” he added.
Mayor Karen Bass |Credit: City of LA
Newsom charged the Department of Real Estate with the responsibility of informing the public of their property rights and providing resources such as contact information for the attorney general’s office and district attorney’s office to help homeowners report speculators. .
“We will not allow greedy developers to pillage working-class communities at a time when they need support more than ever,” the governor said.
In response to Newsom’s statement, the California Association of Realtors (CAR) issued its own statement expressing approval of the governor’s executive order and budget proposal for wildfire relief, while expanding construction streamlining measures. I also asked for
CAR’s statement said: “Housing availability is already extremely limited in the Los Angeles area, and the fires have displaced many people in need of housing. Building new housing is essential and rationalization measures are in place. This is possible.”
Alongside Newsom, Los Angeles Mayor Karen Bass issued an executive order to help property owners rebuild their homes and businesses faster.
Executive Order 1 provides for a multi-agency plan for debris removal and streamlines zoning approvals for homeowners and business owners during the rebuilding process. One condition of the order is that homeowners and business owners cannot increase the size of their properties by more than 10 percent.
“This unprecedented natural disaster requires an unprecedented response to help rebuild homes, businesses and communities,” Bass said in a written statement. “This order cuts through red tape and bureaucracy and organizes around urgency, common sense, and compassion.”
“CAR urges state leaders to continue prioritizing positive policies through legislation, state budgets, and regulations to support people in affected areas and address the housing and insurance crises exacerbated by wildfires. CAR President Heather said. Ozur said in a statement. “We continue to work with the governor and the Legislature to support wildfire victims, advance strong investments that will allow homes to rebuild, and address the wide range of housing and insurance issues we face. I’ll go.”
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