Boca Chica Homeowners Scoff at SpaceX’s Low-ball Offers

Starhopper aborts a hop attempt at Boca Chica. (Credit: SpaceX webcast screen shot)

The Valley Star reports that SpaceX’s offer to buy out a group of homeowners near its Texas test site at Boca Chica Beach is not going over very well with everyone.

Although the Hawthorne, Calif.-based rocket company, in a letter dated Sept. 12 and sent via FedEx, is offering the Heatons three times the appraised value of their home, they say the offer isn’t close to what they’d need to sell. The appraisal conducted by SpaceX is several thousand dollars less than an appraisal the Heatons got through their bank five years ago, Terry said.

“I sent them an email the day after we got this letter, not being sarcastic or anything else,” he said. “I just told them the facts, that (their) appraisal is extremely low.”

SpaceX said the offers are not negotiable and gave the homeowners two weeks from the date of the letter to respond.

“It’s just big money bullying little people,” Terry said. “That’s really what it is.”