And You Thought The Fires Were Hot In Sonoma

Prices are skyrocketing there. I am involved in a hard money loan for a fire survivor… Is going to sell his lot. Already got insurance settlement. Bought another house with hard money. $100k over asking. Will sell the lot.
Smart … no issues with the rebuilding nightmare and having to rent for over a year… is borrowing $600k at 9%
Probably get $300k for the lot?? Pay us off and get a conventional loan.

I take it his lot perhaps didn’t have killer views or features that might make him want to stay and rebuild? I realize it is a lot of work though…

A lot of people have busy lives. Building takes over your life. The house he bought does have great views. 2000sf 4/2 ranch for $950k

Prefab opportunity???

(No, I am not also getting kickbacks from the prefab manufacturers in addition to San Tung…)

Well you should get a kick back… If I ever build prefab I will make sure you get a referral… You are their most loyal supporter… not sure why… But we definitely need to find the best of breed… lot of flakes out there…

Maybe because I grew up in Chinatown in a flat with a ton of people so smallish quarters I am used to…

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Wow… 950k worth sold for 300k. Lost 600k!!! That’s insane. I would never have done that.

They got a settlement. And bought another house.
The insurance company paid on their home… No relationship in value to the the one they bought…
Guessing on lot value of burnt house…

??? Ok maybe they didn’t lose 600k after all… :laughing:

Fires are good for business… lol