More than 172,000 homes with a combined reconstruction cost value (RCV) of more than $65 billion are at some level of risk from the wildfires in the Napa and Santa Rosa metropolitan areas, CoreLogic reports.
The analysis calculated on Oct. 10 is based on the number of homes within these two areas and on five active fires – three in Napa (Patrick, Atlas and Tubbs) and two in Santa Rosa (Nuns and Pocket).
Statewide, a total of 9.1 million homes with a combined RCV of $3.1 trillion are at some level of risk from wildfires in California, CoreLogic estimates.
Although about 94%, or 161,059 of the homes that are at risk fall into the low to moderate risk categories, in terms of fire damage, about 6%, or 11,058, located in Napa and Santa Rosa are in the high and extreme risk categories. These homes have a total estimated RCV of more than $5 billion.
These wildfires combined with the recent damage from hurricanes Harvey and Irma are resulting in a very busy fourth quarter for mortgage servicers, who are expecting a wave but hoping for a ripple of delinquencies and defaults.
