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The Fire’s Impact
Our heart goes out to all of the people impacted by the Marshall Fire in Boulder County.
If you would like to give your support, we have set up a special fund through the Windermere Foundation where we will match any donation you make up to $5000.
You can make that donation HERE.
This devastating event will have significant impacts on the real estate market both short term and medium term.
There are some interesting things to consider related to the fire:
- This will be the costliest wildfire in Colorado history, by far. The total losses will probably approach $800 million. The most expensive wildfire up until now was last year’s East Troublesome fire at just over $500 million.
- It’s likely that the vast majority of the residential property owners who lost their homes were underinsured. Given the recent rise in both property values and construction costs, these homeowners may find that their insurance won’t cover their actual loss. We encourage everyone to check in on their own property insurance versus actual replacement costs.
- Nearly 1000 households are now in need of housing. Today there are only 161 residential properties for sale in Boulder County. In addition, the rental market also has low supply. We expect that many of the people impacted will consider housing alternatives outside of Boulder County simply out of necessity.
- The homebuilding industry is currently challenged with both labor and material shortages. It may take long time to replace the properties that were destroyed by the fire.
Again, we are so sad for the people who were impacted. We are also encouraged to see all the different ways that our community has stepped up to help.
We are all committed to help these people get back on their feet and replace what they lost.
Helping Fight Hunger in Our Communities
Recent research from the U.S. Department of Agriculture (USDA) found that more than 13 million children in the U.S. experience food insecurity. That’s one in six children who live in households where they do not have enough food to eat on a regular basis. And over 20 million children rely on free or reduced-price school lunches for their meals during the school year.
For those families relying on the free and reduced meals during the school year, summer can be especially stressful. Many families do not have access to food assistance programs during the summer. And the national summer meal programs reach only a small percentage of children who need help when school is not in session–around 16 percent. That is why many of our Windermere offices choose to support local non-profits that provide weekend and summer meals to children and families in need.
One of those non-profits that Windermere offices support is the Hunger Intervention Program (HIP) in Seattle, Washington, whose mission is to increase food security for underserved populations in North King County through nutritious meals, educational programs, and advocacy. According to HIP, one in four children in Washington State live in households where families experience hunger. Their Healthy HIP Packs Program is a weekend food backpack program that provides nutritious and kid-friendly foods, enough for six meals and two snacks per child, when school meals are not available during the school year. And HIP’s Summer Eats for Kids program provides freshly made, nutritious lunches at kid-friendly locations around the north Seattle community during the summer.
Thanks to donations from our Windermere owners, offices, and agents, and donations from the public, the Windermere Foundation is able to provide support to local nonprofits that provide nutritious meals for children in need. If you’d like to help support food programs for children experiencing hunger in your community, please consider making a donation to the Windermere Foundation through a Windermere office near you. Just click on the Donate button.
To learn more about the Windermere Foundation, visit https://www.windermere.com/foundation.
