Am I wrong for wanting my Tahoe Airbnb to burn down?

Nonsense! wrote:

I do realize that if it burns down, that means other people's houses will burn as well, but that's the risk we all take, right? Because of COVID and the drought, it's been dismal the last few years. What used to be a cash cow has turned into a nightmare. Ski season starts later every year due to lack of snow and COVID kept everyone away even when there was some. It's a great property and worth 1.8 million, but selling it is impossible because of the hurdles I mentioned. It burning down would be a blessing and I gotta admit, I'm rooting for the fire on this one.

Forgive me.

Here's a basic economics lesson. If it's impossible to sell for $1.8 million, then it's not "worth" $1.8 million. It is worth less.

econ 101 wrote:

Nonsense! wrote:

I do realize that if it burns down, that means other people's houses will burn as well, but that's the risk we all take, right? Because of COVID and the drought, it's been dismal the last few years. What used to be a cash cow has turned into a nightmare. Ski season starts later every year due to lack of snow and COVID kept everyone away even when there was some. It's a great property and worth 1.8 million, but selling it is impossible because of the hurdles I mentioned. It burning down would be a blessing and I gotta admit, I'm rooting for the fire on this one.

Forgive me.

Here's a basic economics lesson. If it's impossible to sell for $1.8 million, then it's not "worth" $1.8 million. It is worth less.

Here's a basic reading lesson, I never said it was impossible to sell for 1.8 million.

They don’t give you $1.8 million if your house burns down. They give you enough to rebuild. Even if you choose not to rebuild, you’ve still got to sell the land.

Nonsense! wrote:

econ 101 wrote:

Here's a basic economics lesson. If it's impossible to sell for $1.8 million, then it's not "worth" $1.8 million. It is worth less.

Here's a basic reading lesson, I never said it was impossible to sell for 1.8 million.

I mean it isn’t literally impossible to sell. You could go very low and get someone, but you aren’t willing to do that it sounds like. Cool that you have a vacation house in Tahoe but I’ve got the house I live in on the other side of the Sierras and I would prefer if this state didn’t keep burning to a crisp every year, but at the same time I hope you end up getting something out of this because 1.8 is kind of a lot.

Nonsense! wrote:

econ 101 wrote:

Here's a basic economics lesson. If it's impossible to sell for $1.8 million, then it's not "worth" $1.8 million. It is worth less.

Here's a basic reading lesson, I never said it was impossible to sell for 1.8 million.

Actually.

I looks like prices will come down in South Tahoe soon.

https://www.zillow.com/south-lake-tahoe-ca/?searchQueryState=%7B%22pagination%22%3A%7B%7D%2C%22usersSearchTerm%22%3A%22South%20Lake%20Tahoe%2C%20CA%22%2C%22mapBounds%22%3A%7B%22west%22%3A-120.10730784985351%2C%22east%22%3A-119.90646403881836%2C%22south%22%3A38.869640771290136%2C%22north%22%3A38.97701524847908%7D%2C%22regionSelection%22%3A%5B%7B%22regionId%22%3A40979%2C%22regionType%22%3A6%7D%5D%2C%22isMapVisible%22%3Atrue%2C%22filterState%22%3A%7B%22doz%22%3A%7B%22value%22%3A%2290%22%7D%2C%22ah%22%3A%7B%22value%22%3Atrue%7D%7D%2C%22isListVisible%22%3Atrue%2C%22mapZoom%22%3A13%7D

Yes!

I hope it burns down and I hope they give you pennies for it. 🤨

None of what you said explains why it would be better if it burned down. Are you hoping for an insurance payout or something?

The land is the real value. Replacement cost on the actual structure is prob 300-400k.

Land can't really "burn" down...

What hurdles are preventing you from selling the house? You didn't mention any.

guy who says striders wrote:

What hurdles are preventing you from selling the house? You didn't mention any.

Forest fires

Nonsense! wrote:

I do realize that if it burns down, that means other people's houses will burn as well, but that's the risk we all take, right? Because of COVID and the drought, it's been dismal the last few years. What used to be a cash cow has turned into a nightmare. Ski season starts later every year due to lack of snow and COVID kept everyone away even when there was some. It's a great property and worth 1.8 million, but selling it is impossible because of the hurdles I mentioned. It burning down would be a blessing and I gotta admit, I'm rooting for the fire on this one.

Forgive me.

This is a poorly thought out imaginary story. Lake Tahoe real estate prices are up ~40% in the last year. It's easy to sell if desired.

I thought a lot of rich tech workers from Bay Area who can work from home are buying up houses in Tahoe? I thought I saw an article by Outside magazine that some locals are protesting if so many people moving in.

Maybe it’s not good vacation rental at this time but you may be able to sell it at a decent price. Seems better than burning down as I’d imagine that land would be worth less for a while after fire.

bulwinkle wrote:

guy who says striders wrote:

What hurdles are preventing you from selling the house? You didn't mention any.

Forest fires

You can sell and buy a house online with virtually no direct contact, other than a few forms that need notarized. And if those forms burn up, you just print and sign them again. Literally no hurdles.

I don't think there's anything ethically wrong with hoping that your house burns down.

But I hope you didn't post this from your home IP. If I was a claims inspector looking to build a case that you didn't take the necessary steps to protect your investment...

Reel Investor wrote:

They don’t give you $1.8 million if your house burns down. They give you enough to rebuild. Even if you choose not to rebuild, you’ve still got to sell the land.

That depends on you policy.

BS on not being able to sell property in Tahoe. The market in resort towns is (trying to find a metaphor that doesn't use "on fire"). All the big money people in LA and San Fran have been buying up luxe properties in Tahoe, Telluride, Aspen, etc. Even more low key places like Montrose, CO and Grand Junction are having prime real estate fly off the shelf. Everyone with big money wants to have a mountain home that they can flee to when COVID gets too hot in the big city. And that is in addition to an ongoing trend of people ditching overpriced west coast markets for place like Boise who have been driving prices to unprecedented levels in those smaller western markets.

Having a high end property burn will be more of a loss than what you have had to deal with due to COVID and late snows. An insurer will cut you a check for less than you want, knowing that it will take years in litigation to resolve an appraisal dispute. Once you have a check, you will either have to rebuild or sell. Selling a burnt out lot in an area devastated by a forest fire will mean selling at (trying to find a metaphor other than at "fire sale prices"). So, if you are really in it for $1.8 mil, you may be lucky to cash out with $1 mil at the end of the day. Your real problem is that the Airbnb market for high end rentals really isn't that great. Supply is pretty high due to speculation and demand is low because there just aren't that many people out there who can afford a few grand a night to rent a house in a resort town.

Nonsense! wrote:

I do realize that if it burns down, that means other people's houses will burn as well, but that's the risk we all take, right? Because of COVID and the drought, it's been dismal the last few years. What used to be a cash cow has turned into a nightmare. Ski season starts later every year due to lack of snow and COVID kept everyone away even when there was some. It's a great property and worth 1.8 million, but selling it is impossible because of the hurdles I mentioned. It burning down would be a blessing and I gotta admit, I'm rooting for the fire on this one.

Forgive me.

Thanks for this. From now on, and for an indefinite period of time, I will be scanning the news for any houses that have burned down in the Tahoe region.

If this occurs, I will then contact the proper authorities and either send them the url of this thread and/or the screenshots I have taken of this thread.

If the authorities then determine that the house was burned down due to arson, they will contact LetsRun.com for your IP address, and you will be apprehended.

Fellas... is arson a thoughtcrime now?