January 19, 2025 • 9 mins
Can wildfires reshape the real estate landscape? Join us as we uncover the intricate dynamics between these natural disasters and property markets, especially in fire-prone areas like California. We explore the complexities beyond just the charred remains of homes, diving into the psychological and economic ripples that touch every corner of a community. From the stigma attached to fire-damaged properties to the unsettling insurance adjustments that follow, this episode dissects the far-reaching consequences that these events unleash on property values and market stability.
Guided by the insights of real estate expert Robert Flowers, our discussion navigates the financial turbulence that wildfires create. We unpack how insurance reevaluations lead to escalating premiums or policy non-renewals, even for those homes spared by the flames. This episode is packed with strategic advice for sellers facing hesitant buyers and plummeting property values, giving you the tools to maneuver through these challenges. Whether you're a homeowner, buyer, or investor, you'll gain a deeper understanding of how to prepare for and adapt to a market forever marked by the threat of wildfires. Tune in for a comprehensive look at an issue that hits close to home.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey everyone, Welcome back.
It's good to be here in thestudio, you know, after taking a
little break.
Speaker 2 (00:06):
Yeah.
Speaker 1 (00:06):
Need to check in on loved ones, make sure
everything's okay.
Speaker 2 (00:08):
Of course.
Speaker 1 (00:09):
Especially with all those fires happening out in
California.
Speaker 2 (00:12):
Absolutely.
It's heartbreaking to see.
Speaker 1 (00:15):
It really makes you think about, like, the impact of
these events.
You know.
Speaker 2 (00:20):
Yeah, yeah.
Speaker 1 (00:21):
Not just on people's lives, but on everything like
real estate.
You know Totally, yeah, notjust on on people's lives, but
on on everything like realestate you know Totally, it's a
well, it's a huge part of theconversation, isn't it?
Speaker 2 (00:29):
When we talk about these events, we have to talk
about real estate.
Speaker 1 (00:32):
Yeah, and speaking of navigating the world of real
estate, you know we got to givea shout out to our sponsors,
Flowers and Associates.
They're the experts in propertyrentals.
Speaker 2 (00:41):
Oh, they're fantastic .
Speaker 1 (00:42):
If you're ever in need, their number is
9001-445-8148.
And actually you know our guestfrom a few episodes back,
robert Flowers.
Speaker 2 (00:52):
Oh, yeah, yeah.
Speaker 1 (00:53):
He just released a new book Real Estate Investment
Strategies for Beginners.
Speaker 2 (00:57):
I saw that I've been meaning to pick it up.
Speaker 1 (00:59):
It's super relevant to what we're talking about
today because it actually divesinto fire risk and and how that
plays into real estate investingoh, that's smart.
Speaker 2 (01:08):
I I'll have to get a copy, especially with what we're
diving into today.
Speaker 1 (01:13):
I mean, it's, it's a big topic, right, how fires
completely shake up the realestate game right, and it's not
just about the the obvious stuff, like like the damage to the
property, it's no, no, not atall.
Speaker 2 (01:24):
It's the it to the property itself.
No, no, not at all.
Speaker 1 (01:26):
It's the whole ripple effect it has on a market.
Speaker 2 (01:28):
Absolutely the whole thing.
Speaker 1 (01:29):
So let's start with the direct hit right Sure.
When a fire actually damages aproperty, what are we looking at
in terms of the impact?
Speaker 2 (01:38):
Well, the first thing that comes to mind is the loss
of value.
Yeah, and it's not just aboutthe cost of repairing the
physical damage.
Speaker 1 (01:46):
Right, because you can fix a house.
Speaker 2 (01:48):
Exactly, you can fix it up, but it still carries this
sort of stigma.
Speaker 1 (01:52):
Oh, like a scar.
Speaker 2 (01:53):
Yeah, like a scar.
Exactly Buyers.
They see fire damage on arecord and they get skittish.
Speaker 1 (01:59):
I get it.
It's that.
What if it happens again?
Speaker 2 (02:02):
Yeah, Thought it makes sense, right.
Would you feel comfortable?
Speaker 1 (02:05):
Probably not.
And then there's the wholeinsurance thing, which can be a
real headache.
Speaker 2 (02:10):
Oh, tell me about it.
Insurance is it's supposed tobe there to protect you?
Speaker 1 (02:14):
Your safety net.
Speaker 2 (02:15):
Right, but but after a fire, especially in areas that
are high risk, yeah, it canturn into a huge financial
burden.
Also are high risk.
It can turn into a hugefinancial burden.
How so?
Well, insurance companies theylook at the risk right and after
a big fire they reevaluateeverything.
Premiums can go way up.
Speaker 1 (02:32):
For everyone.
Speaker 2 (02:33):
Yeah, even for people whose homes weren't directly
affected.
It's the whole area, and insome cases it gets even worse.
Speaker 1 (02:40):
Worse how.
Speaker 2 (02:41):
Insurers might just they might refuse to renew your
policy altogether.
Wow, even worse, worse how.
Insurers might just they might,refuse to renew your policy
altogether, wow, yeah.
And then you're stuck trying tofind coverage in an area that's
now considered super high risk.
Speaker 1 (02:52):
That makes the whole market really unstable, doesn't?
Speaker 2 (02:54):
it.
Speaker 1 (02:54):
It's like the impact spreads way beyond the
properties that actually burn.
Speaker 2 (02:58):
Exactly, it's like this ripple effect, you know,
and it makes sense if you thinkabout it.
If a whole neighborhood getshit by fire, people are going to
be scared.
Speaker 1 (03:08):
Right, they'll be hesitant to move there.
Speaker 2 (03:09):
Exactly.
Buyers disappear, demand dropsand suddenly it becomes a
buyer's market.
Speaker 1 (03:15):
Which is great if you're buying, but but terrible.
Speaker 2 (03:18):
if you're trying to sell, you know you might be
forced to lower your price justto get any offers.
Speaker 1 (03:23):
And that brings down property values for the whole
area.
Speaker 2 (03:26):
Exactly the whole area Just because it's near
where the fire happened.
Even I get a little nervouswhen I see those images on the
news.
Me too, and my house isn'tanywhere near California.
Speaker 1 (03:37):
It just makes you think twice about places with
high fire risk.
Speaker 2 (03:40):
Exactly.
It plants that seed of doubt.
Even if you're thousands ofmiles away, it's like a
psychological impact right.
Speaker 1 (03:47):
Absolutely, it's not just the physical flames.
It's the idea of the risk thatstays with you.
Speaker 2 (03:52):
Yeah, and that idea, that perception of risk, that's
a huge factor in the real estatemarket.
It can really depress activityfor years after a fire.
Speaker 1 (04:04):
So how do we measure that perceived risk?
Speaker 2 (04:07):
Yeah, you know, it sounds like a feeling right.
Speaker 1 (04:10):
Yeah, it's like in your head.
Speaker 2 (04:11):
But you can actually quantify it.
You know, really there are wayswe look at things like property
values in the area.
Compare them to similar areasthat haven't had fires recently.
We also look at insuranceclaims.
You know how many people arefiling them.
Population changes like arepeople moving out of the area
after a fire Interesting andeven things like online searches
(04:33):
.
You know what are peoplesearching for related to fire
risk in specific locations?
Speaker 1 (04:39):
So you can see what's worrying people.
Speaker 2 (04:41):
Exactly.
You can see where their mindsare going.
Speaker 1 (04:43):
Okay Now.
We often hear about communityresilience after these events.
Speaker 2 (04:47):
Right, right, that's a big one.
Speaker 1 (04:49):
What does that actually mean?
Speaker 2 (04:51):
Well, it's basically about how effectively a
community bounces back after adisaster.
Right, it's about rebuildinghomes and infrastructure, sure,
but it's also about the socialfabric.
You know how the communitycomes together, how they adapt
to living in a place where fireis a real risk.
And it's super important forthe real estate market too, you
(05:14):
know.
Speaker 1 (05:14):
How so.
Speaker 2 (05:15):
Well, if a community shows they're resilient, if
they're taking steps to preventfuture fires, if they're
investing in rebuilding andmitigation, that sends a really
positive signal to buyers andinvestors.
Speaker 1 (05:28):
It's like it shows you're serious about it.
Speaker 2 (05:30):
Exactly.
You're not just throwing yourhands up in the air and saying,
well, that's it for us.
Speaker 1 (05:33):
Right, you're taking action.
Speaker 2 (05:35):
Exactly, and that can actually stabilize property
values and it can even attractnew residents, who you know, who
are looking for a place that'sproactive about safety.
Speaker 1 (05:45):
So it's not just about rebuilding, it's about
rebuilding smarter.
Speaker 2 (05:50):
Yeah, smarter and more resilient.
Speaker 1 (05:52):
Okay, okay.
So let's, let's shift gears abit.
Let's talk about the long termimplications, especially for
people who are thinking about,you know, investing in real
estate.
Speaker 2 (06:01):
Yeah, yeah, definitely.
Speaker 1 (06:02):
How do fires change the investment game?
Speaker 2 (06:05):
Well, they act as these catalysts for change, like
in urban planning, in buildingcodes.
Speaker 1 (06:12):
Oh, interesting.
Speaker 2 (06:13):
Yeah, After a big fire you often see stricter
regulations.
Speaker 1 (06:17):
Like what.
Speaker 2 (06:18):
Like requirements for fire-resistant materials.
Speaker 1 (06:21):
Makes sense.
Speaker 2 (06:21):
Landscaping guidelines, you know, to create
defensible space around homes.
Speaker 1 (06:25):
Uh-huh.
Speaker 2 (06:26):
Things like sprinkler systems, ember-resistant vents.
Speaker 1 (06:29):
So it's about making things safer.
Speaker 2 (06:31):
Exactly.
But all these changes, you know, they add to the cost of
construction.
Speaker 1 (06:35):
Right.
Speaker 2 (06:35):
So developers have to factor that in and it can
impact how feasible new projectsare.
Speaker 1 (06:41):
So it makes things more expensive.
Speaker 2 (06:43):
Yeah, and that cost can get passed down to buyers.
But it's not just about thehard costs.
Speaker 1 (06:48):
What else is there?
Speaker 2 (06:48):
Investor sentiment how investors feel about a
particular area.
Speaker 1 (06:52):
Right, right, because they're the ones putting money
in.
Speaker 2 (06:55):
Exactly and they're all about assessing risk.
Right After a fire.
They're going to be morecautious about areas that are
prone to fire.
They're going to look at thedata, the history of fires, the
vegetation.
They want to know how effectivethe local fire mitigation
strategies are.
Speaker 1 (07:10):
So it's not just about rebuilding.
It's about rebuilding in a waythat makes investors feel secure
.
Speaker 2 (07:17):
Exactly, it's about making them feel like their
investment is protected.
But you know, this is alsowhere opportunities can emerge.
Speaker 1 (07:24):
Opportunities.
Speaker 2 (07:24):
Yeah, for investors who are willing to, you know,
take a little bit of acalculated risk, fire affected
areas can actually offer somepotentially high returns.
Really, yeah, think about it.
You invest in fire resistantconstruction, you use innovative
technologies like emberresistant siding, landscaping,
you work with the community onfire prevention, you're
(07:46):
contributing to a safercommunity and you're potentially
getting in on properties thatmight be undervalued.
Speaker 1 (07:52):
So you're turning a challenge into a positive.
Speaker 2 (07:54):
Exactly, and it's not just about the properties
themselves.
Speaker 1 (07:57):
What else?
Speaker 2 (07:58):
Think about the services that are in high demand
after a fire Fire restorationcompanies, experts in fire
resistant landscaping,architects who specialize in
fire safe designs.
Speaker 1 (08:08):
Right, right.
It's like a whole new marketopens up.
Yeah.
Speaker 2 (08:10):
Exactly.
And insurance, of course, theneed for specialized fire
insurance in high risk areas.
That goes way up after a bigevent.
Remember Flowers and Associates.
They're the experts in rentals,right Well, after a fire.
You need that same level ofexpertise in fire related
services.
Speaker 1 (08:30):
It's about finding the right people for the job.
Speaker 2 (08:31):
Exactly so.
What's the takeaway for ourlisteners today?
Speaker 1 (08:35):
Yeah, what have we learned?
Speaker 2 (08:36):
I think it's that fires are incredibly powerful
forces.
Speaker 1 (08:40):
Yeah.
Speaker 2 (08:40):
They don't just change landscapes, they change
economies, they changecommunities.
Right and understanding howfires impact real estate is
absolutely essential, whetheryou're a homeowner, a potential
buyer or an investor.
Speaker 1 (08:52):
It's about awareness, it's about being prepared and
it's about making smartdecisions.
You know.
Speaker 2 (08:57):
Yeah, decisions that are based on a solid
understanding of the risks andthe opportunities.
Speaker 1 (09:02):
Totally, and it makes you think right.
Speaker 2 (09:04):
Yes.
Speaker 1 (09:05):
Like how can we as individuals, as communities,
work together to make thingsbetter?
Speaker 2 (09:10):
Right.
How can we mitigate the risk?
How can we promote responsibledevelopment?
How can we build resilience?
Speaker 1 (09:16):
It's a conversation we all need to be having, and if
you're out there looking forguidance on navigating the real
estate market, don't forgetFlowers Associates.
Speaker 2 (09:24):
Great.
Speaker 1 (09:24):
Their number is 904458148.
And for anyone who's juststarting out in real estate
investing, Robert Flowers' newbook is a fantastic resource.
Speaker 2 (09:35):
I'm going to get myself a copy.
Speaker 1 (09:36):
Until next time, everyone, stay informed, stay
engaged and stay safe.
Speaker 2 (09:40):
See you next time.
Bye, bye.
Hey everyone, Welcome back.
It's good to be here in thestudio, you know, after taking a
little break.
Speaker 2 (00:06):
Yeah.
Speaker 1 (00:06):
Need to check in on loved ones, make sure
everything's okay.
Speaker 2 (00:08):
Of course.
Speaker 1 (00:09):
Especially with all those fires happening out in
California.
Speaker 2 (00:12):
Absolutely.
It's heartbreaking to see.
Speaker 1 (00:15):
It really makes you think about, like, the impact of
these events.
You know.
Speaker 2 (00:20):
Yeah, yeah.
Speaker 1 (00:21):
Not just on people's lives, but on everything like
real estate.
You know Totally, yeah, notjust on on people's lives, but
on on everything like realestate you know Totally, it's a
well, it's a huge part of theconversation, isn't it?
Speaker 2 (00:29):
When we talk about these events, we have to talk
about real estate.
Speaker 1 (00:32):
Yeah, and speaking of navigating the world of real
estate, you know we got to givea shout out to our sponsors,
Flowers and Associates.
They're the experts in propertyrentals.
Speaker 2 (00:41):
Oh, they're fantastic .
Speaker 1 (00:42):
If you're ever in need, their number is
9001-445-8148.
And actually you know our guestfrom a few episodes back,
robert Flowers.
Speaker 2 (00:52):
Oh, yeah, yeah.
Speaker 1 (00:53):
He just released a new book Real Estate Investment
Strategies for Beginners.
Speaker 2 (00:57):
I saw that I've been meaning to pick it up.
Speaker 1 (00:59):
It's super relevant to what we're talking about
today because it actually divesinto fire risk and and how that
plays into real estate investingoh, that's smart.
Speaker 2 (01:08):
I I'll have to get a copy, especially with what we're
diving into today.
Speaker 1 (01:13):
I mean, it's, it's a big topic, right, how fires
completely shake up the realestate game right, and it's not
just about the the obvious stuff, like like the damage to the
property, it's no, no, not atall.
Speaker 2 (01:24):
It's the it to the property itself.
No, no, not at all.
Speaker 1 (01:26):
It's the whole ripple effect it has on a market.
Speaker 2 (01:28):
Absolutely the whole thing.
Speaker 1 (01:29):
So let's start with the direct hit right Sure.
When a fire actually damages aproperty, what are we looking at
in terms of the impact?
Speaker 2 (01:38):
Well, the first thing that comes to mind is the loss
of value.
Yeah, and it's not just aboutthe cost of repairing the
physical damage.
Speaker 1 (01:46):
Right, because you can fix a house.
Speaker 2 (01:48):
Exactly, you can fix it up, but it still carries this
sort of stigma.
Speaker 1 (01:52):
Oh, like a scar.
Speaker 2 (01:53):
Yeah, like a scar.
Exactly Buyers.
They see fire damage on arecord and they get skittish.
Speaker 1 (01:59):
I get it.
It's that.
What if it happens again?
Speaker 2 (02:02):
Yeah, Thought it makes sense, right.
Would you feel comfortable?
Speaker 1 (02:05):
Probably not.
And then there's the wholeinsurance thing, which can be a
real headache.
Speaker 2 (02:10):
Oh, tell me about it.
Insurance is it's supposed tobe there to protect you?
Speaker 1 (02:14):
Your safety net.
Speaker 2 (02:15):
Right, but but after a fire, especially in areas that
are high risk, yeah, it canturn into a huge financial
burden.
Also are high risk.
It can turn into a hugefinancial burden.
How so?
Well, insurance companies theylook at the risk right and after
a big fire they reevaluateeverything.
Premiums can go way up.
Speaker 1 (02:32):
For everyone.
Speaker 2 (02:33):
Yeah, even for people whose homes weren't directly
affected.
It's the whole area, and insome cases it gets even worse.
Speaker 1 (02:40):
Worse how.
Speaker 2 (02:41):
Insurers might just they might refuse to renew your
policy altogether.
Wow, even worse, worse how.
Insurers might just they might,refuse to renew your policy
altogether, wow, yeah.
And then you're stuck trying tofind coverage in an area that's
now considered super high risk.
Speaker 1 (02:52):
That makes the whole market really unstable, doesn't?
Speaker 2 (02:54):
it.
Speaker 1 (02:54):
It's like the impact spreads way beyond the
properties that actually burn.
Speaker 2 (02:58):
Exactly, it's like this ripple effect, you know,
and it makes sense if you thinkabout it.
If a whole neighborhood getshit by fire, people are going to
be scared.
Speaker 1 (03:08):
Right, they'll be hesitant to move there.
Speaker 2 (03:09):
Exactly.
Buyers disappear, demand dropsand suddenly it becomes a
buyer's market.
Speaker 1 (03:15):
Which is great if you're buying, but but terrible.
Speaker 2 (03:18):
if you're trying to sell, you know you might be
forced to lower your price justto get any offers.
Speaker 1 (03:23):
And that brings down property values for the whole
area.
Speaker 2 (03:26):
Exactly the whole area Just because it's near
where the fire happened.
Even I get a little nervouswhen I see those images on the
news.
Me too, and my house isn'tanywhere near California.
Speaker 1 (03:37):
It just makes you think twice about places with
high fire risk.
Speaker 2 (03:40):
Exactly.
It plants that seed of doubt.
Even if you're thousands ofmiles away, it's like a
psychological impact right.
Speaker 1 (03:47):
Absolutely, it's not just the physical flames.
It's the idea of the risk thatstays with you.
Speaker 2 (03:52):
Yeah, and that idea, that perception of risk, that's
a huge factor in the real estatemarket.
It can really depress activityfor years after a fire.
Speaker 1 (04:04):
So how do we measure that perceived risk?
Speaker 2 (04:07):
Yeah, you know, it sounds like a feeling right.
Speaker 1 (04:10):
Yeah, it's like in your head.
Speaker 2 (04:11):
But you can actually quantify it.
You know, really there are wayswe look at things like property
values in the area.
Compare them to similar areasthat haven't had fires recently.
We also look at insuranceclaims.
You know how many people arefiling them.
Population changes like arepeople moving out of the area
after a fire Interesting andeven things like online searches
(04:33):
.
You know what are peoplesearching for related to fire
risk in specific locations?
Speaker 1 (04:39):
So you can see what's worrying people.
Speaker 2 (04:41):
Exactly.
You can see where their mindsare going.
Speaker 1 (04:43):
Okay Now.
We often hear about communityresilience after these events.
Speaker 2 (04:47):
Right, right, that's a big one.
Speaker 1 (04:49):
What does that actually mean?
Speaker 2 (04:51):
Well, it's basically about how effectively a
community bounces back after adisaster.
Right, it's about rebuildinghomes and infrastructure, sure,
but it's also about the socialfabric.
You know how the communitycomes together, how they adapt
to living in a place where fireis a real risk.
And it's super important forthe real estate market too, you
(05:14):
know.
Speaker 1 (05:14):
How so.
Speaker 2 (05:15):
Well, if a community shows they're resilient, if
they're taking steps to preventfuture fires, if they're
investing in rebuilding andmitigation, that sends a really
positive signal to buyers andinvestors.
Speaker 1 (05:28):
It's like it shows you're serious about it.
Speaker 2 (05:30):
Exactly.
You're not just throwing yourhands up in the air and saying,
well, that's it for us.
Speaker 1 (05:33):
Right, you're taking action.
Speaker 2 (05:35):
Exactly, and that can actually stabilize property
values and it can even attractnew residents, who you know, who
are looking for a place that'sproactive about safety.
Speaker 1 (05:45):
So it's not just about rebuilding, it's about
rebuilding smarter.
Speaker 2 (05:50):
Yeah, smarter and more resilient.
Speaker 1 (05:52):
Okay, okay.
So let's, let's shift gears abit.
Let's talk about the long termimplications, especially for
people who are thinking about,you know, investing in real
estate.
Speaker 2 (06:01):
Yeah, yeah, definitely.
Speaker 1 (06:02):
How do fires change the investment game?
Speaker 2 (06:05):
Well, they act as these catalysts for change, like
in urban planning, in buildingcodes.
Speaker 1 (06:12):
Oh, interesting.
Speaker 2 (06:13):
Yeah, After a big fire you often see stricter
regulations.
Speaker 1 (06:17):
Like what.
Speaker 2 (06:18):
Like requirements for fire-resistant materials.
Speaker 1 (06:21):
Makes sense.
Speaker 2 (06:21):
Landscaping guidelines, you know, to create
defensible space around homes.
Speaker 1 (06:25):
Uh-huh.
Speaker 2 (06:26):
Things like sprinkler systems, ember-resistant vents.
Speaker 1 (06:29):
So it's about making things safer.
Speaker 2 (06:31):
Exactly.
But all these changes, you know, they add to the cost of
construction.
Speaker 1 (06:35):
Right.
Speaker 2 (06:35):
So developers have to factor that in and it can
impact how feasible new projectsare.
Speaker 1 (06:41):
So it makes things more expensive.
Speaker 2 (06:43):
Yeah, and that cost can get passed down to buyers.
But it's not just about thehard costs.
Speaker 1 (06:48):
What else is there?
Speaker 2 (06:48):
Investor sentiment how investors feel about a
particular area.
Speaker 1 (06:52):
Right, right, because they're the ones putting money
in.
Speaker 2 (06:55):
Exactly and they're all about assessing risk.
Right After a fire.
They're going to be morecautious about areas that are
prone to fire.
They're going to look at thedata, the history of fires, the
vegetation.
They want to know how effectivethe local fire mitigation
strategies are.
Speaker 1 (07:10):
So it's not just about rebuilding.
It's about rebuilding in a waythat makes investors feel secure
.
Speaker 2 (07:17):
Exactly, it's about making them feel like their
investment is protected.
But you know, this is alsowhere opportunities can emerge.
Speaker 1 (07:24):
Opportunities.
Speaker 2 (07:24):
Yeah, for investors who are willing to, you know,
take a little bit of acalculated risk, fire affected
areas can actually offer somepotentially high returns.
Really, yeah, think about it.
You invest in fire resistantconstruction, you use innovative
technologies like emberresistant siding, landscaping,
you work with the community onfire prevention, you're
(07:46):
contributing to a safercommunity and you're potentially
getting in on properties thatmight be undervalued.
Speaker 1 (07:52):
So you're turning a challenge into a positive.
Speaker 2 (07:54):
Exactly, and it's not just about the properties
themselves.
Speaker 1 (07:57):
What else?
Speaker 2 (07:58):
Think about the services that are in high demand
after a fire Fire restorationcompanies, experts in fire
resistant landscaping,architects who specialize in
fire safe designs.
Speaker 1 (08:08):
Right, right.
It's like a whole new marketopens up.
Yeah.
Speaker 2 (08:10):
Exactly.
And insurance, of course, theneed for specialized fire
insurance in high risk areas.
That goes way up after a bigevent.
Remember Flowers and Associates.
They're the experts in rentals,right Well, after a fire.
You need that same level ofexpertise in fire related
services.
Speaker 1 (08:30):
It's about finding the right people for the job.
Speaker 2 (08:31):
Exactly so.
What's the takeaway for ourlisteners today?
Speaker 1 (08:35):
Yeah, what have we learned?
Speaker 2 (08:36):
I think it's that fires are incredibly powerful
forces.
Speaker 1 (08:40):
Yeah.
Speaker 2 (08:40):
They don't just change landscapes, they change
economies, they changecommunities.
Right and understanding howfires impact real estate is
absolutely essential, whetheryou're a homeowner, a potential
buyer or an investor.
Speaker 1 (08:52):
It's about awareness, it's about being prepared and
it's about making smartdecisions.
You know.
Speaker 2 (08:57):
Yeah, decisions that are based on a solid
understanding of the risks andthe opportunities.
Speaker 1 (09:02):
Totally, and it makes you think right.
Speaker 2 (09:04):
Yes.
Speaker 1 (09:05):
Like how can we as individuals, as communities,
work together to make thingsbetter?
Speaker 2 (09:10):
Right.
How can we mitigate the risk?
How can we promote responsibledevelopment?
How can we build resilience?
Speaker 1 (09:16):
It's a conversation we all need to be having, and if
you're out there looking forguidance on navigating the real
estate market, don't forgetFlowers Associates.
Speaker 2 (09:24):
Great.
Speaker 1 (09:24):
Their number is 904458148.
And for anyone who's juststarting out in real estate
investing, Robert Flowers' newbook is a fantastic resource.
Speaker 2 (09:35):
I'm going to get myself a copy.
Speaker 1 (09:36):
Until next time, everyone, stay informed, stay
engaged and stay safe.
Speaker 2 (09:40):
See you next time.
Bye, bye.
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