First, I wanted to wish each of you and your families a Safe, Happy, Healthy, and relaxing Thanksgiving Holiday. As you sit around the table, I wanted to provide a little food for thought. A gentleman that lost his home in the California wildfires is now filing a claim against PGE (the electric company) that his 500-pound Emerald was lost that he estimates is worth $280 million dollars. How do you lose a 500-pound rock that can’t melt? How is this even plausible?
As you sit around the Thanksgiving table, it will be a good time to ponder this gentleman’s loss. First, it is amazing that someone has a 500-pound emerald sitting in their house worth $280 million, yet there is no appraisal or pictures? (see the Bloomberg article) Where would you actually put a 500 pound rock, in the living room? Kitchen? Next to your tub? How would you get it there (a crane?) Talk about a conversation starter 😊
Amazingly the emerald was “destroyed” due to the wildfires caused by PGE. This leads to the second question, how is a 500-pound rock destroyed? The melting point of an emerald is over 2300 Fahrenheit, yet fires typically only reach 1100 degrees so the rock obviously didn’t melt. Furthermore, it would be difficult to “lose” something this size.
As you prepare for the holidays, out of an abundance of caution, please ensure you take pictures of your 500-pound rock sitting at the Thanksgiving table. Please send me a picture as well as I’m sure your fellow readers are curious how this would look as the backdrop for turkey 😊
Happy Thanksgiving to everyone. I look forward to a great rest of the year working with each of you.
I need your help!
Don’t worry, I’m not asking you to wire money to your long-lost cousin that is going to give you a million dollars if you just send them your bank account! I do need your help though, please like and share our articles on linkedin, twitter, facebook, and other social media. I would greatly appreciate it.
Written by Glen Weinberg, COO/ VP Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in the Colorado Real Estate Journal, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.
Fairview is a hard money lender specializing in private money loans / non-bank real estate loans in Georgia, Colorado, Illinois, and Florida. They are recognized in the industry as the leader in hard money lending with no upfront fees or any other games. Learn more about Hard Money Lending through our free Hard Money Guide. To get started on a loan all they need is their simple one page application (no upfront fees or other games).