‘Fire Country,’ the new TV show about Cal Fire, is a hit. Just not with Cal Fire. (MORGAN BROWN)
M.P. HILTON
Fire country burns at the top of the list of most popular hobbies? This year’s U.S. television ratings for an hour-long program about wildfires would be enough to drive anyone to suicide. As of now, a new show about Cal Fire burning through the San Francisco Bay area is #2. (MORGAN BROWN)
M.P. HILTON
You can look at this through the lens of the real estate industry, or you can look at it through the lens of how many people are watching television.
While those who watched for the sake of relaxation might have viewed an hour of “Fire Country” (which has yet to even premiere on a U.S. network), for the real estate industry, this means one thing: It’s a chance for investors to sell off real estate.
“If the show catches on, this could be a huge money maker for buyers,” said David Katz, market analyst with S&P Dow Jones Indices.
Cal Fire has taken advantage of the program’s popularity by offering a discounted price on the second- and third-home sales, which totaled $1.2 billion in the first half of the year, for those who purchase a home in the area through the new program.
It’s a little bit different from what the average person would do. A home in your price range might cost you $250,000 to $300,000 to buy, but with the discount, you might bring in $160,000 to $180,000. If the show catches on, this could be a huge money maker for buyers.
Katz said the show is well-liked by the buyers who would pay the money to avoid the risk of buying through an investor.
But for those who aren’t looking for a big money gain, he said the biggest gain will come from the sales of second and third homes. The average price for a second home is now around $200,000 to $250,000, with the average price for a third home at around $500,000 or $600,000. By offering a