Gena:

The fires destroyed almost 1500 homes, thousands of acres, and an untold number of businesses and groves. The tally for damages is still not in, but there is much speculation about the number of contractors and businesses that will benefit from the rebuilding process.

What I can share is that our residential rental market was already tightening prior to the fires and that pressure will only continue with the number of people left homeless. I have heard, though, that Countrywide Mortgage is releasing some of their REO's as rentals to help ease the rental market. That will certainly help both the rental and resale arenas.

As a percentage of San Diego's total real estate market, the number of homes destroyed by the fires is relatively small. But in the short term, the effect will likely be a positive one. The long term consequences are still unknown.

We do know, though, it sometimes takes only a cup of water to prime a pump--or a spark to cause a wildfire.

As always, we'll be watching the San Diego real estate market closely. Thanks for the question!

Hi Gena,
It's to early to tell if the fires will have any impact on the real estate market. Huge areas were evacuated for public safety however the fire never reached many of the areas. Homeowners who's homes were damaged are working with the local governments to quickly clear the lots. Cities are trying to streamline the permit process to rebuild. San Diego is a great place to live, you hear of wonderful stories of neighborhoods helping neighbors.