It’s the new year and everyone is motivated for the potential of new beginnings. Three months since the Nor Cal fires and victims are hoping for the same. Survivors are beginning a second disaster, a housing shortage aggravated by the sudden loss of entire blocks of homes. Unfortunately, many are still displaced and rent and housing prices only continue to spike along with the demand for homes. Many longtime community residents and citizens who had no insurance were left vulnerable to the current rental market. The NorCal fires are the costliest fires on record with $9.4 billion of insured damages reported. With over 250 wildfires burning an approximated 245,000 acres. It’s estimated that it will cost the economy $85 billion to fix. According to Wikipedia.com on October 14 there were a reported 90,000 evacuees. The Redwood Valley complex fires had a recorded 36, 523 acres burned and 545 structures. The fires were located in Napa, Lake, Sonoma, Mendocino and Solano County.
The fire destroyed around 8400 buildings leaving people who were uninsured having to move elsewhere or rent. Rent prices have seen a 36% increase in Sonoma and 23% increase in Napa Valley. Although California Penal Code prohibits the increase of more than 10% per year home lenders are left with no choice but to accept a competitive rate. It’s a seller’s market right now. The seller controls the price and because of the demand buyers have no choice but to follow suit. One couple in Santa Rosa believed they had finally found a rental fitted to their needs for a hefty $5000 only to be undercut by a different couple offering $7000. Many people have opted for RVs and other temp housing while rebuilding occurs. With such a high demand RV parks and public housing have reached capacity. Staying with relatives and friends has seen a popular option. There are programs and discounts offered locally to people affected by the fires. Vogel’s RV’s, Ukiah’s local travel trailer and fifth wheel seller has been wonderful with providing their longtime service. Although most survivors are at the hands of their insurance agencies which can often lead to a long drawn out process. Solutions are seeming few and far between for those affected. Consensus among survivors is just a feeling of appreciation. One tends to look at the silver lining of the situation. Not an ending more so a new beginning. Most people are choosing to stay in their communities hoping to be a part of reassembly. Although full restoration seems like far away we want people to get solutions today.
Unaware or low credit/ no credit renters often seek popular internet sights to look for rentals. Craigslist and Facebook ads are to be left to the discretion of the user. Often because the sites are unverified and not through an official lending office they turn out to be fraudulent. Do not send or wire any funds prior to checking or authenticating your rental. If you find yourself questioning the authenticity or are simply unsure Palma Properties is a great source of information and reaffirmation. You can contact them free of charge to check if a rental property is authentic. Along with other helpful suggestions and insight realty wise. The ultimate goal is that if you have any questions that they are answered and have you feeling more confident, well-informed, and fully versed in more than the initial thing that you came in with.
Let it be stressed that in 2018 we as a people will NOT send money to ANY unconfirmed persons.
Happy New Year!