More than 172,000 homes with a combined reconstruction cost value of more than $65 billion face some level of risk from the metropolitan Napa and Santa Rosa fires in California, according to a new CoreLogic analysis.

CoreLogic said it bases its analysis, in part on five active fires: three in Napa, and two in Santa Rosa. Statewide, 9.1 million homes with a combined reconstruction cost value of $3.1 trillion face some level of wildfire risk in California.

Regarding the Napa and Santa Rosa homes at risk, CoreLogic said that just over 11,000, or 6 percent, with an estimated reconstruction cost value of more than $5 billion, are at significant risk of damage.

The rest face low or moderate risk, but CoreLogic cautioned that wildfires can easily expand to nearby properties and cause major damages even if a property is not considered high risk on its own.

CoreLogic said it calculates its reconstruction cost values based on estimates to rebuild a home, taking into account geography, labor and materials. The number is also based on total, or 100 percent destruction. The analysis, it said, represents the total/maximum risk, not predicted loss.

Source: CoreLogic

Topics Homeowners