Dd, Both Buyer and Seller in 98332

How is the value of land accessed and priced after a catastrophic event like the fires in Lake Arrowhead, CA?

Asked by Dd, 98332 Fri Feb 1, 2008

We’re considering our options for a property that was among the first 131 homes that were burned down in Lake Arrowhead the first day of fires this past Oct. ‘07. The structure and natural life on the property are completely gone and the foundation can not be reused. This is a view property up on Sonoma Drive and frankly the view is more open than before with the trees gone. However even in regards to that- How does the loss of the trees affect the value of the view?

The Lake Arrowhead area is a small, close community and there is a lot of well intentioned advice among the locals… Still, I’d like to get some perspective on more general opinions of this kind of situation.

I would, also, welcome any advice for the best preparation and staging of ‘a lot’ in these circumstances?

Help the community by answering this question:

Answers

5
David - Appraiser’s answer
Pattie is correct. The best person to answer your questions is an appraiser. There are many factors, conditions, senerios, contributing elements, environmental issues, present and retro (before fire) data necessary to determine the retro (pre-fire) land value and present value (extracted from the overall market value - land and structure) and the fire's affect on values and market area that no Realtor/Agent are qualified to assess.
0 votes Thank Flag Link Wed May 7, 2008
Dd- I think that an appraiser could best answer your question. I am unclear as to whether you are looking to buy or sell the property.

Patti Phillips
800-680-9133
1 vote Thank Flag Link Fri Feb 1, 2008
I already see many new homes (owners rebuilding) going back up in the area you are speaking about. As horrific as the fire/s were, Lake Arrowhead is still a wonderful place to live and will continue to be. As for costs of lots: they have remained pretty much as they were before the fire in your area. Of course it all depends on the topography of the lot and VIEW. Good luck with your descision.
0 votes Thank Flag Link Wed May 7, 2008
Events like this are quickly forgotten by most. Our area is safe and wonderful .We have great fire departments and people. Our forest service is wonderful. It is a great place to live and work. It is very hard to find a better place to live anywhere in southern california. Prices are lower due to market conditons and inventory. I expect the warmer weather, more visitors will help us rebound faster than many other areas.
0 votes Thank Flag Link Sat Apr 19, 2008
Usually, a more open view is desired here in the mountains. Some people like a lot of trees, some people don't. that all depends on the buyer. You may have some buyers turned off by the fact that the lot has burned, but then again, this will draw in other buyers. Also, in this case, if the foundation isn't usable, to "stage" the property, remove as much of the debris that you can to make it more accessible and buildable, so buyers can see the potential in the land and the view. It would be nice to plant some trees, but then again, if you're not going to live/build there, leave that open to the new owners to do. Maybe offer some credit for purchasing new trees as a gesture.
0 votes Thank Flag Link Fri Feb 1, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer