Over the past month or so we have been receiving a lot of questions about how the Marshall Fire has impacted real estate in the area. We put together this short video and blog to show you what we’ve been hearing from experts in the area in regard to the aftermath of the fire, and what things may look like moving forward.
Marshall Fire Aftermath & Clean-up:
• 1,084 homes were lost according to Denver Post
• Homeowners are now in clean-up stage, working with insurance to clean out homes & cleaning sites for rebuilding. Includes cleaning/removing/ destroying personal property
• Build times are expected to be several years
Redeveloping:
• New homes may be custom or homeowners may group together to work with builders to get groups of homes re-built in the same style
• Many homeowners were under-insured and may not be able to rebuild what they had
• Some lots are now coming on the market (~350K-450K)
Impact of Recent Marshall Fire on Market:
• Rock Creek/Superior/Louisville is very in demand; people seem undeterred
• Homes are selling for above list price, many showings, multiple offers
We recently wrote a blog- 7 Things to Know and Ask Your Insurance Agent in 2022- and we suggest taking a look if you have questions about your insurance coverage in light of the recent fires.
As always feel free to reach out to us with any questions~
Until next time!
Allison Benham and Ken Crifasi with K&A Properties
