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Magic Johnson warns fire-affected stakeholders about illegal offers to buy their land. | Photo courtesy of cagovernor/Instagram
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A new public service announcement featuring NBA legend Earvin “Magic” Johnson warns homeowners in fire-ravaged areas of Los Angeles County to be wary of “property predators” seeking to illegally purchase land with lowball offers, Gov. Gavin Newsom’s office announced Friday.
LA28 Chairperson and President Casey Wasserman and Dodgers Chairman Mark Walter joined the governor and Johnson in the announcement through LA Rises, a relief organization created in the wake of the deadly, devastating wildfires.
The new PSA alerts fire victims to predatory real estate speculators and highlights protections under Newsom’s recent executive order banning “unsolicited, undervalued offers” in fire-impacted zip codes “to prevent opportunistic investors from exploiting families in crisis,” according to the governor’s office.
“Too many of you are getting hit up out of the blue by people making unasked-for, lowball offers on your property. You do not need to take these offers,” Johnson said in the PSA. “This is your land, and you know what it’s worth.
“Those kinds of offers are currently illegal, because of Gov. Gavin Newsom’s executive order — and if you get one, you can report it to law enforcement agencies, like the LA District Attorney or the California Attorney General.”
Johnson also emphasized the importance of protecting residents from displacement and making sure families are treated fairly during the process of recovering from the disaster.
The executive order prohibits predatory opportunists from making unsolicited, undervalued and often cash offers to buy destroyed properties from wildfire victims. Newsom’s order places a three-month moratorium on “unsolicited, undervalued offers to buy property … in fire-affected zip codes,” directs the California Department of Real Estate and other agencies to provide public resources on homeowner rights and enforcement efforts and enables state Attorney General Rob Bonta’s office and local district attorneys to prosecute violators.
Under California law, it’s a misdemeanor to violate an executive order during a state of emergency.
“As families mourn, the last thing they need is greedy speculators taking advantage of their pain,” Newsom said in a statement announcing his Jan. 14 executive order. “I have heard first-hand from community members and victims who have received unsolicited and predatory offers from speculators offering cash far below market value — some while their homes were burning. We will not allow greedy developers to rip off these working-class communities at a time when they need more support than ever before.”
The governor’s office noted that “Altadena, a working-class neighborhood that has been especially hard hit by the Eaton Fire” is vulnerable to “undermarket offers by opportunistic investors … (that) threaten the character and vibrancy of the community.” Land speculators also “could displace and endanger vulnerable residents who have long ties and investments in the community,” officials said.
The PSA and governor’s office provided phone numbers to report predatory offers to the LA County DA, 800-380-3811, or the attorney general, 800-952-5225.
LA Rises is a coalition of private-sector philanthropists that aims to support rebuilding efforts and provide timely information on rebuilding timelines and available recovery resources, according to the governor’s office.
