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How Have the California Wildfires Impacted The Local Real Estate Market?

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With over 4 million acres burned, this year’s California wildfires have been the largest the state has ever seen. One fire alone, the August Complex, has burned over 1 million acres, cutting a destructive swath across the northern part of the state. The California fires are in various stages of containment, so these numbers could go up before year’s end.

California also happens to have some of the most expensive real estate in the country and many of the country’s most active real estate markets. Many areas currently battling fires have been threatened by wildfires before.

CoreLogic‘s (NYSE: CLGX) 2020 Wildfire Risk Report shows 1,975,116 homes in the United States are at risk of being destroyed by wildfires. These homes carry an associated reconstruction cost of over $638 billion. Of the areas most at risk, 76% of them are located in California, with the Los Angeles, Riverside, San Diego,

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HOMES 

Middle East wildfires kill 3, force thousands to flee homes

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BEIRUT >> Wildfires around the Middle East triggered by a heatwave hitting the region have killed three people, forced thousands of people to leave their homes and detonated landmines along the Lebanon-Israel border, state media and officials said today.

The areas hit by the heatwave are Syria, Lebanon, Israel and the Palestinian territories. The fires come amid an intense heatwave that is unusual for this time of the year.

Wildfires spread across different areas of Israel and the West Bank for a second day Saturday, forced thousands of people to evacuate their homes.

Israeli Police said in a statement firefighters and police forces evacuated 5,000 residents from the city of Nof Hagalil in northern Israel.

One of the hardest hit countries is war-torn Syria where fires have killed three people and left dozens suffering from breathing problems over the past two days. The wildfires also burnt wide areas of forests,

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HOMES 

Mideast wildfires kill 3, force thousands to flee homes

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BEIRUT (AP) — Wildfires around the Middle East triggered by a heatwave hitting the region have killed three people, forced thousands of people to leave their homes and detonated landmines along the Lebanon-Israel border, state media and officials said Saturday.

The areas hit by the heatwave are Syria, Lebanon, Israel and the Palestinian territories. The fires come amid an intense heatwave that is unusual for this time of the year.

Wildfires spread across different areas of Israel and the West Bank for a second day Saturday, forced thousands of people to evacuate their homes.


Israeli Police said in a statement firefighters and police forces evacuated 5,000 residents from the city of Nof Hagalil in northern Israel.

One of the hardest hit countries is war-torn Syria where fires have killed three people and left dozens suffering from breathing problems over the past two days. The wildfires also burnt wide areas of

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HOMES 

Mideast wildfires kill 2, force thousands to flee homes

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BEIRUT — Wildfires around the Middle East triggered by a heatwave hitting the region have killed two people, forced thousands of people to leave their homes and detonated landmines along the Lebanon-Israel border, state media and officials said Saturday.

The areas hit by the heatwave are Syria, Lebanon, Israel and the Palestinian territories. The fires come amid an intense heatwave that is unusual for this time of the year.

Wildfires spread across different areas of Israel and the West Bank for a second day Saturday, forced thousands of people to evacuate their homes.

Israeli Police said in a statement firefighters and police forces evacuated 5,000 residents from the city of Nof Hagalil in northern Israel.

One of the hardest hit countries is war-torn Syria where fires have killed two people and left dozens suffering from breathing problems over the past two days. The wildfires also burnt wide areas of forests,

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HOME VALUES 

Why California’s Devastating Wildfires Will Push Home Prices Even Higher

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As the devastating Glass fire raged through California’s scenic wine country in late September, Thomas Senander, 63, initially ignored the evacuation orders, But then a few days later, he and his family watched 100-foot flames rush straight in the direction of their Santa Rosa, CA, compound. When the fire began to lick the edges of a field leading onto their property, the retired engineer, his wife, and their grown son sprang into action.

Like many of their neighbors, they’d been through this hell before. Just three years ago Senander and his family lost their previous home—about 6 miles away in the same town—to the Tubbs fire. They were determined not to experience that anguish again.

He connected a fire hose to his 3,500-gallon water tank and blasted the blaze as it barreled toward him. His family poured buckets on runaway flares. The inferno was heading for an old barn

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HOMES 

Wildfires raze dozens of homes in New Zealand

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Wildfires have destroyed up to 50 homes in New Zealand, authorities announced Monday, saying it was a miracle no one was hurt as “a wall of orange” razed most of a remote South Island village.

The blaze began in a mountain forest early Sunday morning and, fanned by strong winds, swept through the village of Lake Ohau, forcing residents to flee for their lives.

Fire and Emergency New Zealand (FENZ) said the unpredictable winds made fighting the fire “challenging” and by Monday afternoon it had razed 4,600 hectares (18 square miles) of land.

Waitaki District mayor Gary Kircher said the tiny Lake Ohau community had been devastated.

“Of the 60 or 70 houses, we believe that the majority have gone,” he told Radio New Zealand.

“The reality is that it’s a minor miracle no one has been harmed. If it had been anther 15-20 minutes it would have been a

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HOMES 

Oregon wildfires burned $1 billion in homes and belongings last month, new tally finds

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Oregonians lost nearly $1 billion in homes and belongings during last month’s wildfires, which torched more than 4,000 residences and burned more than 1 million acres across the state, according to a new report.



a bench in front of a fence: Wildfire damage in Gates, Oregon off Highway 22 in Marion County on Monday, Sept. 21, 2020. Wildfires ripped through the small town of less than 500 people a little over a week ago, destroying many homes and businesses. Sean Meagher/Staff

© Sean Meagher/The Oregonian/oregonlive.com/TNS
Wildfire damage in Gates, Oregon off Highway 22 in Marion County on Monday, Sept. 21, 2020. Wildfires ripped through the small town of less than 500 people a little over a week ago, destroying many homes and businesses. Sean Meagher/Staff

It’s among the first efforts to calculate the economic toll of the fires, which also killed at least nine people last month.

Josh Lehner of the Oregon Office of Economic Analysis said the homes and personal property destroyed are only the initial calculation of what the state lost. The wildfires damaged the state’s outdoor recreation industry, its timber sector and the state’s image as a healthy, active place to live – and

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HOMES 

Wildfires Put Nearly 2 Million Homes At Extreme Risk Of Property Losses

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Nearly 2 million homes with a reconstruction cost value of more than $638 billion are at an elevated risk of wildfire damage this year, according to a new report by data analytics provider CoreLogic.

This wildfire season is well on its way to setting a record for one of the most destructive years for wildfires in recent memory, and the pandemic is creating additional complications, according to the report, which provides insights into single-family and multifamily residential properties at risk of damage from wildfires in the United States.

The devastating wildfires raging across the Western United States have left homeowners facing the challenge of starting from scratch. With disruptions to the supply chain for raw materials, manufacturing and transportation, the resulting hit to reconstruction efforts could be further challenged.

There is no state

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HOMES 

New wildfires in the Napa-Sonoma wine country force nearly 70,000 to flee homes

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SAN FRANCISCO — Northern California’s wine country was on fire again Monday as strong winds fanned flames in the already scorched region, destroying homes and prompting overnight evacuation orders involving nearly 70,000 people. Meanwhile, three people died in a separate fire further north in the state.

Residents of the Oakmont Gardens senior living facility in Santa Rosa boarded brightly lit city buses, some wearing bathrobes and using walkers. They wore masks to protect against the coronavirus as orange flames marked the dark sky.

The fire threat forced Adventist Health St. Helena hospital to suspend care and transfer all patients elsewhere.

The fires that began Sunday in the famed Napa-Sonoma wine country about 45 miles north of San Francisco came as the region nears the third anniversary of deadly wildfires that erupted in 2017, including one that killed 22 people. Just a month ago, many of those same residents were evacuated

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HOMES 

Three dead as multiple wildfires in California burn homes, prompt evacuations

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Multiple blazes were burning out of control in Northern California on Monday, killing three people, destroying an untold number of homes and prompting thousands to evacuate in a state already battered by wildfires in recent months.

Eddy Whitmore evacuates from his Santa Rosa, Calif., home as the Shady Fire approaches on Sunday, Sept. 27, 2020.Noah Berger / AP

In Shasta County, Sheriff Eric Magrini said that three people died after the Zogg Fire exploded in size, jumping from a few hundred acres Sunday afternoon to 15,000 less than 24 hours later.

Magrini did not provide additional details about the victims, saying that their next of kin still need to be notified. But he pleaded with residents to heed evacuation orders.

“This is fast-moving,” he said. “When you hear that order, evacuate immediately.”

According to the California Department of Fire and Forest Protection, or Cal Fire, the blaze, which ignited

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