As tragic and horrifying as the fires consuming homes and other buildings in various areas of greater Los Angeles have been for everyone across the country and around the world to behold, there’s perhaps an even deeper poignancy for those in the real estate industry.
Agents and brokers whose careers are built around helping to make homeownership a reality for people, and who share their joy during closings, now also acknowledge the pain, knowing that thousands of random victims had their properties and belongings reduced to smoldering embers in a matter of minutes. And with commercial buildings among many of the thousands of structures in ruins, there are also untold jobs instantly gone with them as well.
“The fires are a tragedy,” reflected Jeffrey Decatur, a broker associate with RE/MAX Capital in upstate New York, noting that the sense of loss is the same for those who have lost their homes, whether they were million-dollar mansions in the hills or row houses in town. “Your home is your castle, whether it’s 800 or 80,000 square feet. It’s someone’s home. A tragedy is a tragedy no matter what the price range or zip code. It’s not the possessions you can buy again. It’s the things that no amount of money can replace, like special keepsakes from a loved one, family pictures or the artwork on the fridge. It’s the things we keep close to our hearts.
“I pray for the best outcome possible. We all have the same hopes and dreams. I’ve sold homes from $25,000 to a million, and everyone’s dream of owning a home was the same. They all felt the same way. Some just had a few more zeros.”
As has often been the case, the real estate industry takes action when fires, hurricanes and other disasters impact the areas where they work. With the devastating L.A. fires, the Greater Los Angeles REALTORSⓇ (GLAR) organization went into overdrive.
“GLAR continues to monitor the evolving situation with the Palisades, Eaton, Hurst and Woodley fires,” it wrote on its website Jan. 9. “Our hearts, thoughts and prayers are with those impacted by the fires and those currently attempting to evacuate. The scale of the devastation from the wildfires is breathtaking and difficult to comprehend, and the association stands ready to help in any way we can.
“During this time, please be aware that all members may apply for disaster grant resources from the California Association of REALTORS® Disaster Relief Fund to assist with recovery from wildfires and other natural disasters.”
Several links on its https://greaterlarealtors.com/ website directed those in need.
“I’m so proud of the real estate community of L.A.,” said Jason Haber, a Compass agent in New York City and co-founder of the American Real Estate Association. “They are providing real leadership in this crisis. From helping to find homes for those displaced, to assisting with the needs of the victims, our industry is making a real difference.”
Pam Rosser Thistle, an agent for Berkshire Hathaway Homeservices Fox & Roach, REALTORS® in Philadelphia, also felt the loss for homeowners, while explaining that changes are sure to come to guard against future fires being as destructive.
“What a tragic situation,” she said. “I am so sad for those who lost their homes and the neighborhoods they love. In the short-term, it will affect that market. Over time, hopefully the L.A. market will recover, and safeguards will be put in place for the future. Insurance companies will likely add requirements before writing a policy, or even exclude (coverage) for certain situations. Hopefully, the government will step in to help future homeowners so that they are able to get affordable homeowner’s insurance, even with the inherent risks of living in an area prone to fires.”
Debbie Lang, with Berkshire Hathaway HomeServices (BHHS) Fox & Roach, REALTORS® in Princeton, New Jersey; and BHHS Florida Realty in Boca Raton, Florida, is troubled by the scope of the fires.
“This week has been so surreal, and my heart goes out to all who are affected by this devastation,” she said. “I have many friends and colleagues who were impacted by this unprecedented event. My son lives in the Los Feliz area of L.A. He lost power and water for days and does not even live near where the fires were.
“Sadly, the long-term ramifications of this catastrophe will have a tremendous impact on the relocation of many people as well as on the insurance industry, not only in California but nationwide. I have seen the impact in Florida since I started selling real estate in Palm Beach County, Florida, in addition to New Jersey. Although recent hurricanes have caused more damage on the west coast of Florida it has still impacted insurance rates all over the state.
In time, the impacted areas of L.A. will get rebuilt with much stricter guidelines that could withstand mother nature’s forces. However, architecturally the landscape will look completely different.”
As more information and comments are received the story will be updated.
