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Workers burning $700,000 luxury home on verge of collapse

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

UPDATE: Workers in Texas are burning a home down before it had the chance to collapse off a cliff.

LAKE WHITNEY, Texas – A luxury home in Texas that was perched on a cliff had a spectacular view of Lake Whitney.

Now, that 4,000 square-foot home is dangling about 75 feet above the rocky shoreline after part of it broke off.

Soil and other debris could be seen falling from the foundation of the home.

A small sign reading, “Extreme danger, stay off premises” was placed in the front yard as neighbors looked on helplessly.

The home is valued at more than $700,000.