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#2
06-01-2005, 12:20 PM
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__________________
You have your way. I have my way. As for the right way, the correct way, and the only way, it does not exist. 
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#3
06-01-2005, 12:20 PM
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It's a beautiful place. We go there all the time but my wife always wondered why would anyone build on those hillside?
 I hope everyone is okay! I just heard about this AM as well! http://www.cnn.com/2005/US/06/01/lag....ap/index.html   Quote:
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#4
06-01-2005, 12:29 PM
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It looks like the area around the 133, I hope they have insurance... I highly doubt that the Feds will let anyone rebuild in that area.
__________________
You have your way. I have my way. As for the right way, the correct way, and the only way, it does not exist.
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#5
06-01-2005, 01:05 PM
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Just from watching the show "Laguna Beach" on MTV it is a nice place. I would not mind living there.
__________________
Love to here what you think of my pictures! http://www.photoshelter.com/user/davidstewart dé•jà Vroom (da•zhä Vroom') n. :AF330i: :AF330i: :AF330i: :AF330i: :AF330i: :AF330i: BMW X5 3.0i (Oxford Grün) BMW 530i GMC Sierra 1500 Crew Cab Heavy Duty My car (Truck)
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#6
06-01-2005, 04:20 PM
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The funny thing about insurance is:
(I am not sure this applies everywhere or with every company but,) Homeowners insurance does not cover property, it only covers structure. So lets say that the cost to rebuild one of these homes is $500K - $800K and the value is 1.5 mil.. - The insurance will only cover the $500-$800K. And, since the property has slid down the hill, chances are likely there is nothing left for them to sell or rebuild on. In other words. My assumption is, the homeowner who owned a 1.5mil house this morning, will only get 1/2 that from an insurance settlement. Again, as far as I know, insurance does not cover property, only structure. I feel very bad for these home owners. As my home is also built into the side of a mountain, I can feel their pain. B
__________________
----------------------------------------------------------  "When two people agree on everything, one of them is not necessary" - Arliss
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#8
06-01-2005, 06:28 PM
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Quote:
__________________
Whenever I text "Barack," my phone suggests the word "Capable." I guess my my phone IS pretty smart.
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#9
06-01-2005, 06:32 PM
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Well usually most loans (MD chime in here if I'm wrong!) make you buy 'replacement cost' coverage, which would be the amount to rebuild the structure. I don't know what happens in an over-inflated real estate market, thats a toughie....
I would assume those who built there would have special coverage for this type of thing? I don't think I would build on a cliff without some sort of special coverage?
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#10
06-01-2005, 06:33 PM
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Hell, i would still love to live there.
__________________
Love to here what you think of my pictures! http://www.photoshelter.com/user/davidstewart dé•jà Vroom (da•zhä Vroom') n. :AF330i: :AF330i: :AF330i: :AF330i: :AF330i: :AF330i: BMW X5 3.0i (Oxford Grün) BMW 530i GMC Sierra 1500 Crew Cab Heavy Duty My car (Truck)
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