Laguna Beach Real Estate - Impact of Landslide

Yesterday, 12 - 18 (dependant on the reports) multi-million dollar homes in Laguna Beach where destroyed in a landslide, while 11 others are severly damaged. Unfortunately for the owners many will take a significant loss as most home owners insurance do not cover "Acts of God", landslide as a cause of loss falls under the Earth Movement provision of the standard homeowners policy. This will have an impact of the price of homes in the area... will others panick and sell at a discount... which is typically temporary as the area has been impacted many times before.

In October 1978, a slide in the same canyon destroyed 14 homes. In February 1998, a rainstorm triggered slides in the area that killed two people and damaged 300 homes, 18 of them seriously. The area was ravaged by a wildfire in October 1993 that destroyed 400 homes. Most were rebuilt within a half-dozen years.

Articles regarding the Laguna landslide...

Laguna Beach landslide sends homes crashing down hill
Rain-Filled Winter Blamed for Laguna Beach Landslide
: The Laguna Beach Landslide and Homeowners Insurance

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