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CoreLogic Reports Nearly 50K Homes at High or Extreme Risk from CA Wildfires
Nearly 50,000 homes are at high or extreme risk of wildfire damage from the Camp and Woolsey fires in Northern and Southern California. According to CoreLogic, total reconstruction cost value (RCV) would reach roughly $18 billion.
CoreLogic reports as of Nov 11th, the Woolsey Fire in SoCal, near and around Thousand Oaks and Malibu, puts 12,224 homes in affected zip codes at high risk and another 4,772 homes at extreme risk. Meanwhile, the Camp Fire (pictured in NASA satellite image above) in Northern California near and around Paradise and Chico, puts 12,418 homes in affected zip codes at high risk and another 18,976 homes at extreme risk.
CoreLogic broke down the risk for each fire and the corresponding ZIP codes affected, as well as the RCVs for properties in each area. RCVs represent the cost to completely rebuild a property in the worst-case scenario of total destruction of the structure, including labor and materials by geographic location. While other hazards may cause partial destruction but rarely eliminate an entire property, wildfire events are more likely to cause total loss to structures affected.
For comments, questions or concerns, please contact Dennis Kaiser
