Inside a Home For Sale Damaged by Landslide and Land Movement in Palos Verdes at 4362 Exultant Dr

www.JasonBuck.com takes you Inside a Home For Sale Damaged by Landslide and Land Movement in Palos Verdes at 4362 Exultant Dr.
Portuguese Bend has had land movement since the 1950's when a natural spring was ruptured while creating Crenshaw blvd to connect to Palos Verdes Drive South. Before 2020 the land had moved downhill roughly 600 feet. In the 1980's there were homes that moved across the current main drive and were red tagged, and several homes had foundations supported by giant I beams under the house and then leveled by a series of jacks on railroad ties. In the 2010's California was in a drought and the main highway through Portuguese Bend was moving roughly an inch a month.
The City of Rancho Palos Verdes would grind and fix the road with two major hills or jumps that always seemed to move more than other spots.
The intense rain years of 2022 and 2023 have caused a lot of water to enter the Portuguese landslide and the land is moving at a very alarming rate. The area of the slide has expanded to include Wafers Chappel and the NE portion of the Seaview neighborhood. There are several large fischers in the portuguese bend area and FEMA funds have been approved to start a hydroger process to extract the water and hopefully slow down the land movement. Its very shocking and devistating for homeowners affected by this event.
4362 Exultant is next to a home that was red taged and sinking into a crevice at the corner of Dauntless and Exultant.
The home is a 4 bedroom 5 bath beautiful property built with extreme pride of ownership and quality. The home is roughly 4,059 sf of living space on a 12,083 sf lot. It has fantastic finish work and some ocean view from the deck. Its well designed and unfortunately has been affected by the slide. The North side of this home is falling and pulling from the rest of the property. This home would likely be worth $3.5 million and needs several thousands to repair the current foundation situation. As of 6/21/24, the price was reduced to $1,750.
I am happy to discuss more about the options and conditions of this area.
Connect with me:
Direct Line: 310.383.2578
www.jasonbuck.com/
Listed by Charlie Raine of Coastal Legacy Realty Group
#hometour #palosverdes #milliondollarhouse #milliondollarhome #mansion #mansiontour
All information deemed reliable but not guaranteed

[@catlovermarty]

Sad. It's really a beautiful house. I don't know who in their right mind would buy it.

[@Horace1993]

It's not about right mind. People buy homes using an agent expecting agency. Same with sellers. The problem is that there is very little accountability and these sort of situations leave those without capital to sue, litigate, screwed. It is morally wrong to pass the problem on to someone else. As a buyers agent I couldn't sleep at night misinforming my client for a commission check.

[@LeeTheVet]

No, that whole area is dangerous now, it most likely is moving a lot more due to the earlier Winter storms/Spring rains. There was so much of it earlier this year. I honestly don't think you are going to get any takers on that at the moment. The whole hillside could collapse and all properties on it. I grew up here in S. Ca., and that area has been moving since I can remember in the early 1970s. Thank you for showing the house though, beautiful.

[@PalosVerdesHouses]

you are correct about the movement - its been worse this year and the area expanded. However, this home is currently in escrow....

[@palace927]

My husband worked for a soils engineering company 40 years ago who was hired by RPV to see if they could find a way to stop the movement. They said that there was no way to stop the movement.

[@PalosVerdesHouses]

There are several reports about the area and many have come to investigate from all over the world. I feel very sorry for those who have homes in the area.

[@sallyital1497]

This whole thing is unbelievable to watch. I can't imagine that even a developer would want to buy that. The land is basically worthless, in California no less.

[@PalosVerdesHouses]

thanks for watching - its changing daily

[@kdubs3]

Whoa -- very sad but interesting to understand what's happening there. My wife grew up for a period of childhood there - we are in Santa Monica now. I've never seen anything like that before.

[@Horace1993]

In this area today, southern california gas has stopped gas service to over 100 homes. It may be temporarv however it speaks to the seriousness of the situation. Homes went into the ocean in the last landslide. Take a look on the map. Crenshaw blvd rises to top and just terminates. It was planned to run down to the boulevard below. The area of this home is adjacent but is getting collected with the contemporary movement.

[@PalosVerdesHouses]

@@Horace1993 very sad and difficult time for those homeowners in the area. There are a bunch of locals trying to find a way to help.

[@jjll2651]

Sad for the owner, I just don't see how it's possible to stabilize this house on shifting sands underneath. Even with foundations all the way to bedrock, if the soil keep shifting, what's left is a house on stilts with no roads. Is it even economically viable to stabilize the whole coastline?

[@PalosVerdesHouses]

one theory is if they are able to use hydrogers to remove some of the water, the slide will slow down. casons in the foundation might not work becuase the entire area is moving. jacking the home up, or perhaps putting the home on shipping containers,, which a few homes have done.

[@gina000]

Is that property even salvageable? Best case scenario someone purchases it then watch it slide away? I do not understand why the area is not being evacuated.

[@PalosVerdesHouses]

yes - there is a method to put large i-beams under the home and jack it up - currently there are several homes like this..

[@joejesus9902]

@@PalosVerdesHouseshope jacking it up can salvage it, but I’ve read that the soil movement is happening hundreds of feet under the surface.

[@Horace1993]

@gina000 salvageable if the greater land movement gets under control. Then the methods mentioned work. Otherwise the methods mentioned do not work, and in this case will continue to divide the house, or at best the land deep under the foundation would move the entire structure if rigid enough. In the past with a slow rate of movement this was completely fine to deal with. The movement is 100x faster than that now, so these methods are going to he very temporary, when the expectation will be that they last like they used to.

[@Horace1993]

@joejesus9902 it will just happen again or the whole structure will move instead. At the start of the clip the separation of the land is evident in the front yard. The cavity forming there is what will form under the house, as it is now. It will still happen even if you shore up the house and many feet of land beneath it. Houses on the other side of tract may be fine for hundreds of years. This is in an active zone.

[@JK-ks3xq]

I grew up with Charlie. I wish you the best with that listing buddy. Take the first offer and run!

[@PalosVerdesHouses]

they have it in escrow

[@tacobruisedays]

Jason, question. If you buy this "land" are you getting the GPS coordinates land of where the property lines are, or are you getting where the house ends up? Has that legally been worked out?

[@PalosVerdesHouses]

good question- my understanding is you buy the gps location which becomes a problem as the land moves. I heard of one homeowner who has been trying to restrict access to his neighbor over land that moved onto his property - i do not know the outcome yet -

[@jaya3714]

@@PalosVerdesHouseswow just wow the whole situation is sad and unbelievable. Im surprised this isn’t bigger news then it is

[@Horace1993]

Intentionally or not, the idea that this can be solved with engineeering on the property is misleading. This is not a matter of just augmenting the foundation. The land is separating through the property and it seems fairly evident that will continue. Another property very nearby had this kind of repair PRIOR to the rapid increase in movement which at the time resolved the same sort of damage that slowly accumulated over decades. The movement is now 100x faster. Youd use caisons and lifts and still see this split in half. I hope the broker has great litigation insurance. Then again, the disclosures may cover them. I am bothered by the moral hazard of trying to sell these homes at values compared to those not far away on stable geology. It wont end well.

[@MrBlueivory]

Could someone please explain to me who's going to purchase a home that could one day sink?

[@PalosVerdesHouses]

this home is in escrow. people love the area

[@Bltwll]

@@PalosVerdesHousesthere’s a sucker born every day

[@Idontlikethisever]

Yeah that’s a great idea let’s buy a house for 2 million that will soon fall into the cracks 👍🏻

[@Horace1993]

TODAY, 4394 Dauntless, a stones throw away, has been listed at 1.389m, 3b3b 1800 sqft on 13000sqft lot. This one is in the danger zone too, moving right along with this one. It's not splitting in two, at least yet. Nearby comp listed for 1.7 sold for 585k for the land movement. These sales are a trap where there is a half hearted agency on behalf of buyers to actually inform them of these affected homes worth. They're looking to find a sucker and I'm sorry to see everyone in industry is happy to screw the buyer. Unfortunately the situation is what it is, the owners have experienced the loss and are in denial. It is morally wrong to fleece a new buyer into carrying that burden for the seller. The other side of Dauntless is fine, maybe not forever but significantly far from the movement action yet these selling brokers are comping to those. Buyer beware, and don't trust a pseudo fiduciary who isn't looking after your interests.

[@PalosVerdesHouses]

Hi- I would not say that "everyone in the industry is happy to screw the buyer" - I am not! I recently had a buyer who was very motivated to buy a home in Portuguese Bend and wrote an all cash offer - I explained to him that I would not remove his contingencies in a counter offer until he met with me and we went to the City. The City has a moritorium in place and with all of the facts presented, the buyer decided not to pursue. I could have sold him the house easily, but did not treat him as a "sucker". Im sure there are some agents that might, but for the most part, these agents are representing Sellers that want to get out, most of them at a discount. Did you visit one of these homes and experience a salesperson who did not disclose issues? Its the Buyers Agents responsibility to help the Buyer conduct inspections, analyze disclosures, and negotiate concessions. I know the buyer of the $585k sale - he recently lost his pool after the sale and is concerned, but he gambled that the land movement would slow down, but its not. Portuguese Bend is a beautiful area which did not have this extreme movement until recently. I agree with Buyer Beware - but please recognize my passion for helping people understand their options, the history and conditions in the area, and to represent the client wishes with local knowledge and experience.

[@encinobalboa]

@@PalosVerdesHouses I just read the realtor's description on Zillow. There is no mention of Portuguese Bend or the ongoing slide. There is a boilerplate statement at the end to cover his butt.

[@PalosVerdesHouses]

@@encinobalboa there are also agent notes in the mls that do not transfer to IDX (zillow)

[@johnc2438]

01:22: "It's unfathonable...." Really? This has been going on for decades. I remember as a kid in the 1960's seeing these stories about Palos Verdes. To the realtor: Wake up and smell the coffee. To buyers: Beware of this entire area.

[@PalosVerdesHouses]

The Portuguese Landslide started in the 1950's and has moved roughly 600 feet towards the ocean up till about 2020. Recent rains have increased the movement to nearly 4x as fast. What used to be an inch a month is now in some places almost a foot a week.. this new level of movement is hard to imagine (unfathonable)

[@malcolmlove4602]

Price has dropped to $1.6 million

[@PalosVerdesHouses]

yeah, it had gone into escrow, and then just fell out.

[@michaelm.3210]

LOL

[@michaelm.3210]

But ... there IS "that whole mess." Soooooooooooooooo, the house might be worth twenty bucks. Tops. Am I wrong?!?!?! (I-beams. LOL LOL LOL )

[@PalosVerdesHouses]

There is an area nearby that had a moritorium on building. A 26k lot would still be worth and sell for around $300k. There is a nearby 12.5 acre lot for sale for $1.8 - so there is still value in the land. Problem is the street out front and land movemennt which increased in last two years.

[@tacobruisedays]

@@PalosVerdesHouses Ive enjoyed your last few videos, ty! those properties nearby...its for sale but is that the value? What are the recent comps? did the 12.5 acre lot sell? what was the action? any offers?

[@shesmymama]

The property he's referring to is 2 W Pomegranate Rd. Hit the market in June. Still for sale. Here's what part of the listing says: "The property is located within the Portuguese Bend Landslide. Per Rancho Palos Verdes Ordinance No. 675U, there is a moratorium in place pertaining to the issuance of permits and construction of all structures."

[@danlowe8684]

Yet, they still water their lawns and shrubs - which adds the equivalent of 60 inches of rainfall per year to the coastal desert landscape that continues to slide, while dewatering efforts take place!!! smh.

[@Glidedon]

Erosion on the coast has been going on for millennia.

[@PalosVerdesHouses]

true, but recently the land has been moving a lot more..

[@christasimon9716]

$1.8 mil? For a split-level house?

[@christasimon9716]

@@shesmymama I can't afford that. I'm gonna wait and see if it drops any further.

[@shesmymama]

@@christasimon9716 It's pending right now for $1.6. Certainly a gamble, considering the ground is moving a foot a week. Scary times

[@PalosVerdesHouses]

@@christasimon9716 they are in escrow for less..

[@cnguyen32]

It's pending at 1.6 LOL. Criminal.

[@shesmymama]

​@@cnguyen32​ I mentioned the pending price to @christasimon9716 last week ($1.6). My comment got deleted. Let's see if yours remains up. Btw, gas company shut off in that area today. smh

[@MaryM-xz5fs]

Many, many tremors. Get prepared for the big one!

[@manintherubbermask]

😂 I’ll give you like $1500

[@derekholt109]

This video did nothing to sell this house, it made it worse. Not only for this house for the entire area.

[@divyv20]

Hey Jason , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?

[@PalosVerdesHouses]

Thanks for your offer - but I want to leave it raw..

[@ImNotPotus]

The tragic irony that you are asking $1.95m for a red tag when this same house sold at the market top of 2007' for $1.8m then got dumped at $1.3m in 2012. Why did you interview an engineer? You should try to find an Insurance Agent who will find a policy for this place or hold out for an all cash offer. Cut the listing to cover the balance of the note and cut your losses.

[@PalosVerdesHouses]

Its in escrow.. thanks for watching

[@rustynail3630]

For what price. What is the cost to fix it? Where do you park your car?

[@ImNotPotus]

@@PalosVerdesHouses All CASH?

[@greensage395]

What part of California isn't a Joke?

[@tenfour10-400]

You need to speak into a mic. EVERY time you move your head or phone the audio drops off. Did you even bother to look at your video before you posted it?

[@PalosVerdesHouses]

Thanks for watching... Sorry for the drop in audio - but I dont use a mic so that happens.. hopefully you can still make out what I am saying, or feel free to give me a call and I can talk to you directly about the home and area. Have a great day.

[@tacobruisedays]

@@PalosVerdesHouses everything sounded fine.