When our power was restored after the outage caused by Hurricane Gustav, a fire started in our attic.
The local fire departments were on the scene quickly and managed to save the home. Thankfully, there was noone injured as they fought the fire and we were not home when the fire started so my wife and I were not injured either.
The experience leaves one feeling violated but we've since secured a home to live in while our home undergoes the necessary repairs. The roof will have to be nearly entirely replaced as well as many interior walls and ceilings. Mold has started to grow and we're planning to hire a mold remediation contractor in ensure that no mold remains when we finally move back in. A restoration company has removed our belongings and is in the process of trying to recover them. We believe that we are adequately insured and that our home will be restored.
That brings me to my inquiry. Obviously, the fact that a fire has occured will have to be disclosed to potential buyers should we decide to sell this home. In my experience as a Realtor®, there is a negative impact upon the marketability of a home which has sustained fire damage even if that damage has been repaired. Is anyone aware of any studies done which will help to quantify the impact?
Don - I just recently posted a similar type of a blog about this issue. Personally, I think that there will be buyers who will not buy a house that had a fire (no matter how much better the home might be after the fire). I too would be interested in knowing if there are any "official" stats. I'm glad everyone is OK. ~Rita