Friday, November 9, 2007

How Will The California Fires Affect Real Estate?

The wildfires that have hit California recently have truly devastated many families and communities. There are many humanitarian efforts under way to help the folks who have lost their homes and possessions. The insurance companies and FEMA have been on the scene to give guidance and financial help to folks who need it. I can remember the Painted Cave Fire that hit Santa Barbara in 1990. Our entire community was affected. Hotel rooms and rentals were all taken, contractors were busier than ever. In many ways after we got past all the sadness that the fire created there was a silver lining. The neighborhoods that were all rebuilt are thriving again and the homes are better than ever. Many jobs and careers were launched in an effort to help and rebuild what the fire took away. I am wondering if that is the type of thing that will happen all over again with our most recent wildfires. I know that the cost of remodeling a home has become very expensive and finding contractors who aren't over booked is a very difficult thing. Will the rebuilding efforts raise the costs of remodeling just through competition for contractors and supplies. Of course supplying this industry with jobs and consumers purchasing items to replace what they have lost could help our economy. I'm just not sure what the effects will be. I am thinking it could end up creating some positive economic information. I hope this post doesn't come off as morbid in the midst of what has happened and is still happening for many. I truly feel for the people who have lost their irreplaceble memories and would certainly recommend that if you haven't already donated to a fund you may want to click on the Red Cross website and do it now. See You In Escrow!

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