Golden State Today

Governor Gavin Newsom has issued an executive order to protect firestorm victims in Los Angeles from predatory real estate speculators. The order targets investors making unsolicited offers to purchase properties at prices below market value, taking advantage of families affected by recent fires.

"Today’s announcement will allow the state to hold these predatory speculators accountable through stronger enforcement and prosecution," stated Governor Newsom. He emphasized the need for support rather than exploitation, saying, "As families mourn, the last thing they need is greedy speculators taking advantage of their pain."

The executive order was signed in Pasadena alongside local leaders and community members. It specifically protects residents in hard-hit areas such as Altadena, where the Eaton Fire has caused significant damage. These communities face threats from undervalued offers that could displace long-standing residents.

Under the new directive, it is unlawful for three months to make unsolicited undervalued property offers in specified zip codes of Los Angeles County. The Department of Real Estate and other agencies are tasked with informing the public about their rights and providing resources for reporting violations.

California law considers it a misdemeanor to violate a Governor's order during a state of emergency. Such violations can be reported to the Attorney General’s office.

This initiative mirrors a similar effort by Hawaii Governor Josh Green following wildfires in Lahaina in 2023.

A copy of the executive order is available online.