Posted on 03/03/2025 6:16:32 PM PST by Libloather
Multimillion-dollar estates in the wealthy cliff-dwelling enclave of Rancho Palos Verdes in Southern California are slowly sliding toward the ocean, yet they still carry hefty price tags.
Almost 200 homes in the area are listed for sale, ranging from an $899,000 condo to a $22 million seven-bedroom mansion. However, most are not affected directly by the land movement, which is concentrated in an area called Portuguese Bend.
"Portuguese Bend is clearly on borrowed time," says LAist.
New aerial mapping showed the long-known and slow-moving landslides on the bluffs have sped up due to heavy rain in 2023 and early 2024, according to the New York Times.
"Homes in Rancho Palos Verdes began collapsing in June and August of 2023," said the outlet. "Streets have fissured. Walls have shifted, and floors have cracked open to reveal the dynamic earth below. A downed power line related to the slides started a small brush fire in August."
A $42 million buyout program is helping homeowners voluntarily sell and relocate, but some of them are taking matters into their own hands and listing their properties instead.
Homes continue to have multimillion price tags Of the listed homes, only six mention the land movement.
"Property located in the neighborhood impacted by LAND MOVEMENT and affected by it," says a $1.2 million listing at Admirable Drive.
"Plans to remodel and fix minor land movement damages have been submitted to the city," declared another listing, this one for a $3 million home on Spindrift Lane boasting "180 degree views of the ocean directly out your living room window."
Both agents did not respond to requests from Realtor.com® for comment.
(Excerpt) Read more at realtor.com ...
“That’ll be the day I go back to Annandale.”
Will it be worth $6 million with a 360 degree 3D ocean view?
Been going on there for millennia.
What happened to “sea level rise” ?
I lived in LA for much of the 1980s. As soon as I got there, more than 40 years ago, I learned about Portuguese Bend. This is nothing new.
The earth is shaking off the looney left coast dandruff flakes.
>> Will it be worth $6 million with a 360 degree 3D ocean view?
ROFL. Your Realtor(TM) will claim it is!
“I said if they don’t have to sell right now, then it’s not the time. ... Just live in it until right before it falls down and let the insurance and mortgage companies deal with it after that.”
I visited that area many decades ago and was amazed they built houses there.
Even a minor earthquake combined with a little rain looked like it could take out quite a few houses.
When I was a little kid, my dad would take me there to go abalone hunting,. No houses anywhere.
Now, no abalone and houses everywhere. Marineland long gone.
At an Open House, I said to prospects..."If you close your eyes, it sounds like the ocean!"
Marineland of the Pacific 1958
wonderful visit
California will revert to some kind of ghetto.
They should paint a scale on the ground between the house and the cliff, with prices graduated from $1 million to zero. Once the house reaches the cliff edge, it’s free. If further incentive is needed, that end of the scale could also include a half-off coupon for search and rescue services.
Use chicken wire and stucco on the cliffs.
A fool and his money......
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