Josh Altman told Fox Business he predicts displaced Palisades residents will move to nearby cities, Orange County, Arizona and Las Vegas.
Celebrity real estate agent Josh Altman is seeing a huge spike in interest among displaced Pacific Palisades residents in seven specific areas following the devastating fire last month.
During an interview with FOX Business, Altman explained that he gets multiple phone calls daily from families who are looking to move to Santa Monica, Brentwood, Beverly Hills, Lower Bel-Air, Newport Beach, Scottsdale and Las Vegas.
« Well, listen. It’s not what they would move to? It’s what we know they’re moving to. It’s the deals that are getting closed. The first place they’re looking is Santa Monica and Brentwood. And I’m telling you, I get requests for Santa Monica and Brentwood throughout the day, every day for the past month, » Altman said.
Josh Altman predicts what cities displaced Palisades residents will move to. (Getty Images / Getty Images)
« And the bumps in the values have been something that has been more aggressive than when we got out of COVID, when that market for, you know, real estate was amazing. The bumps have been more aggressive than when rates were at 2%. We’re talking about a whole new landscape. »
WATCH: Celebrity realtor highlights top cities Palisades residents are fleeing to after devastating LA Fires
Josh Altman told Fox Business he predicts displaced Palisade residents will move to nearby cities, Orange County, Arizona and Las Vegas.
LA REAL ESTATE AGENT REVEALS NO. 1 REASON WHY PACIFIC PALISADES RESIDENTS WON’T RETURN
« And also, by the way, comps, you can forget about comps. Comps don’t exist anymore. If it wasn’t a comp from this new year on, it’s not a comp. So that’s a new market that we’re kind of navigating through, » he continued.
A Super Scooper plane dropped water on the Palisades fire on Jan. 7. (Brian van der Brug / Los Angeles Times via Getty Images / Getty Images)
« As far as the other places, first, Brentwood, Santa Monica, second, Beverly Hills, Lower Bel-Air, third, Newport Beach, fourth, Scottsdale, Vegas. That’s what I’m seeing a lot of. »
« As far as the other places, first, Brentwood, Santa Monica, second, Beverly Hills, Lower Bel-Air, third, Newport Beach, fourth, Scottsdale, Vegas. That’s what I’m seeing a lot of. »
Altman told FOX Business that he spoke to someone who shared that a public school in Newport Beach has received 76 new applicants from Los Angeles families, displaced by the LA Fires, in the last 10 days alone.
The realtor explained that it Is too early to know if these moves are permanent but did share that families are looking for stability for their children.
A burned down playground in Pacific Palisades. (Sunny Tsai / FOXBusiness)
« You get comfortable and you have kids. There’s you know, you don’t want to move a lot. And then it also comes down to the school situation. Where are the schools going to be now that you know that they’re moving not in the Palisades, you know, whether they’re being put in buildings locally where the kids are going to be. Look, as a parent, that’s the most important thing. It’s all about the kids, » Altman said.
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Altman told FOX Business he still believes 70% of Palisades residents will not return to the community following the fires.
Former « Million Dollar Listing » star Josh Altman told FOX Business a « whole new group » of people will move into the Palisades once rebuilding begins. (Randy Shropshire/Getty Images for FMB Development / Getty Images)
« There’s just going to be a whole new group. Because I got to tell you, and I keep saying this, it’s one of the most special places in the country. There is a totally new market, which we’re still trying to navigate through, » he said.
WATCH: Josh Altman still believes 70% of Palisades residents won’t return following the fires
Josh Altman told Fox Business that there’s going to be a « whole new group » of people that move into the Pacific Palisades.
« What is the dirt worth for the people who are not going to rebuild when they sell it? Who’s going to be the first person to take the offer when we’re allowed to close a deal? Because there’s been a moratorium out there where you can’t close as of right now. And how is that going to affect all the rest of the sales in that area? And unfortunately, I think they’re going to be a little lower than people expect, » Altman continued.
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According to Cal Fire, the Palisades Fire is 95% contained as of Feb. 5. The fire burnt down 6,831 structures and homes. It burned 23,448 acres. 12 people died during the Palisades Fire and four were injured.
