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ouch...

G

Goosemaster

Lifer
I was busy so I only heard about it a short time ago...

is it true that they all signed waivers for insurance and FEMA is denying them aid because the such an event was expected?

If so its sucks to be them. Appearantly the average home up there was like $2mill :Q
 
Most of the homes there are not even offered that type of insurance, due to the fact that it is a disaster prone area. 3 Landslides/mudslides in past 30 years? No insurance company will cover them
 
Originally posted by: JasonK
Most of the homes there are not even offered that type of insurance, due to the fact that it is a disaster prone area. 3 Landslides/mudslides in past 30 years? No insurance company will cover them
Click to expand...

It's like people who live on the Florida coast and get their houses owned by hurricanes and then realise that their insurance doesn't cover it. 😛

Then they try getting aid from the government and should be slapped.

They need to remind people that build in these areas that they are on their own when you live in these types of areas.
 
Originally posted by: Goosemaster
I was busy so I only heard about it a short time ago...

is it true that they all signed waivers for insurance and FEMA is denying them aid because the such an event was expected?

If so its sucks to be them. Appearantly the average home up there was like $2mill :Q
Click to expand...

Yeah, Laguna prices are crazy. Landslides aren't covered by insurance.

The houses in the hills in my town were going to be the same way a few years ago, but luckily they caught the problem in time and somehow did something or the other to prevent a hillside from collapsing. Those houses up there are about $6-7million.
 
Originally posted by: Chompman
Originally posted by: Goosemaster

Appearantly the average home up there was like $2mill :Q
Click to expand...

If they can build houses for that much then I don't think they will be hurting. 😛
Click to expand...

It's not the houses, it's the land. The houses are probably only worth about 500-600K. The land is worth AT LEAST 1 million. At least ... it WAS worth something. Now that the Earth shifted, it's worth very little.

edit: Same thing goes for a lot of Southern California. You're not paying for the house, you're paying for the land.

Some people make it an advantage. A neighbor of mine bought a 1700 sq ft one story house for 600K a few years ago. They tore it down and built a 3000 sq ft two story house which cost them about 400K to build. So they ended up spending 1 million instead of something like 1.4 mil.
 
Originally posted by: Chompman
Originally posted by: JasonK
Most of the homes there are not even offered that type of insurance, due to the fact that it is a disaster prone area. 3 Landslides/mudslides in past 30 years? No insurance company will cover them
Click to expand...

It's like people who live on the Florida coast and get their houses owned by hurricanes and then realise that their insurance doesn't cover it. 😛

Then they try getting aid from the government and should be slapped.

They need to remind people that build in these areas that they are on their own when you live in these types of areas.
Click to expand...

I agreee that they gambled and lsot and we should not foot the bill.

i am just commenting on losing a house....

Loosing a $2million investment and a home at that sucks.
 
Originally posted by: Chompman
Originally posted by: Goosemaster

Appearantly the average home up there was like $2mill :Q
Click to expand...

If they can build houses for that much then I don't think they will be hurting. 😛
Click to expand...

That was my first thought, but many people buy houses they really can't afford these days...
 
Originally posted by: Amol
Originally posted by: Chompman
Originally posted by: Goosemaster

Appearantly the average home up there was like $2mill :Q
Click to expand...

If they can build houses for that much then I don't think they will be hurting. 😛
Click to expand...

It's not the houses, it's the land. The houses are probably only worth about 500-800K. The land is worth AT LEAST 1 million. At least ... it WAS worth something. Now that the Earth shifted, it's worth very little.

edit: Same thing goes for a lot of Southern California. You're not paying for the house, you're paying for the land.
Click to expand...

"heh, bob, this is Drew with your Titling company...jsut wanted to let you know that your property is now on the wrong side of the tracks...toodles"
 
Most of the people living there bought it for the view. It overlooks the ocean and has a great view. They all knew what they were getting into living there. There is a long history of unfortunate events in that area, and people just continue to pretend it wont happen.

 
I used to feel sorry for them until about 6 years ago when I saw a resident of Malibu that just lost his house in mudslide (it fell off the cliff). He was being interviewed and after the reporter asked him what he's gong to do next he said, "Well, the same thing we do everytime this happens, we just rebuild!"
 
Originally posted by: Goosemaster
I was busy so I only heard about it a short time ago...

is it true that they all signed waivers for insurance and FEMA is denying them aid because the such an event was expected?

If so its sucks to be them. Appearantly the average home up there was like $2mill :Q
Click to expand...

They were saying on the news home insurance doesn't cover landslides.
 
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