Pacific Palisades residents aren’t leaving their neighborhood for good … as a result of well-connected actual property sources say many wish to come again — although the restoration timeline for the neighborhood is up within the air.

TMZ spoke to greater than 10 highly effective L.A. actual property brokers working at main firms like The Company, Compass, Sotheby’s and Coldwell Banker … and, the consensus is lots of their purchasers who owned properties within the devastated neighborhoods have expressed curiosity in holding onto the land and rebuilding.

We’re instructed many individuals who personal land within the neighborhoods are “circling the wagons,” getting ready themselves for a protracted rebuild. They love the realm, and so they don’t have any plans to go away … irrespective of the hurdles within the coming months and years.

Just a few who’re considering of promoting are contemplating rolling that cash into a bigger lot when others within the neighborhood do promote. One insider says town’s making allowing simpler … so rebuilding should not be held up an excessive amount of by paperwork.

Nonetheless, our sources say this may be a pipe dream for some who do not realize the rebuild goes to take years. Some are pointing to all of the ash, particles and poisonous chemical substances that can should be cleared earlier than anybody can begin constructing — positively not an in a single day course of.

One dealer instructed us it is not simply concerning the homes being rebuilt … ‘trigger retailers, eating places and faculties burned as properly — so, the realm will not resemble the Palisades that many residents watched burn. AKA, it will not be “regular” for possibly a decade.

No less than three of the brokers we talked to anticipate older individuals — those that do not wish to wait round for the pricey rebuild — to promote … taking that cash to purchase a brand new place some other place.

And, after all, the hearth rattled some individuals a lot that it would not be a shock if some determined to ditch SoCal for an space frequented far much less by wildfires.

Additionally, our sources say they’re warning their purchasers about predators speeding in with lowball gives to purchase the land … and, Compass is flagging a brand new government order in California that stops anybody from lowballing these within the space by throwing out unsolicited gives lower than market worth on January 6, 2025 — making it a misdemeanor to take action.

The order lasts by April 14, however doesn’t stop somebody from promoting their house in the event that they want to.

Clearly the land is effective … and, a managing companion at one of many actual property companies tells us as soon as 20% of properties are again, the worth of the land goes to skyrocket — so Palisades residents could wish to suppose twice about promoting.

The Pacific Palisades wildfire destroyed entire neighborhoods … has burned almost 24K acres — and, is barely 43% contained proper now. Many individuals — together with notable celebs — misplaced their properties within the blaze.

Celeb realtor Josh Altman instructed us he thinks greater than half the residents will not return … noting when their children begin at new faculties, and so they get comfy of their new neighborhood, they will not wish to come again.