Tragic Wine Country Fires
Though technically the fires did not
happen in the 3rd quarter, it seems impossible to think of
anything else right now. I trust that you, your family, friends, pets, and
businesses are all safe. If you or anyone you know needs information or
assistance with real estate related matters, I can help; just give me a
call. The sheer number of people displaced and needing replacement housing
suggests that effects will be felt here in Marin and indeed in the greater part
of the Central and North Bay areas. Some displaced people will look to make a
permanent change, others will rent and begin the process of rebuilding. 80% of
owners rebuilt after the Oakland Hills fire. Early indications are that rents
in Marin will increase (any increases about 10% are considered “gouging” and
are a punishable offense, according to a front-page Marin IJ
article 10/19/17). Expect some homes currently “For Sale” to be withdrawn
and relisted as “For Rent.” Some displaced residents will buy, figuring the
time to rebuild will take several years at least. Overall, I expect the fire
will produce firmer rental rates and sales prices.
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