HUD’s Repeal of Fair Housing Rule Reverses Decades of Progress

C.A.R. issued a statement today regarding HUD’s announcement to end the 2015 Affirmatively Furthering Fair Housing (AFFHA) rule that will roll back provisions in the Fair Housing Act that encourage diversification and “foster inclusive communities.”

“C.A.R. is reiterating and standing by its previous request for HUD to rescind its final rule on Affirmatively Furthering Fair Housing, which now opens the door for communities to increase segregation and deprive homeownership opportunities for many Americans,” said C.A.R. President Jeanne Radsick. “We have spent many years trying to right decades of government-induced segregation and redlining; this rule would undo the last half-century of progress.”

“Now is the time for HUD to work with the real estate community and fair housing advocates to draft a rule that will achieve greater homeownership opportunities for communities of color and fulfill the mission and spirit of the Fair Housing Act,” said Radsick.

C.A.R. Releases Step-by-Step Guide to Reopening EDD PUA Claims

C.A.R. just released a new step-by-step guide for C.A.R. members detailing how to reopen a PUA claim that was closed by the California EDD. If you have not certified for unemployment benefits for a period of time or you have never certified during this benefit year, you must reopen your claim. This new guide explains how to complete this process.

Buyers Are Waiving Contingencies to Sweeten Their Offers

In June, nearly 20% of successful offers submitted by Redfin real estate professionals in select major U.S. markets reportedly waived the inspection contingency, compared to 13.2% during the same month in 2019, according to a report by Redfin. Further, 20.6% of winning offers waived the appraisal contingency, up from 17.4% a year ago.

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Update on Coronavirus Market Impacts

Signs of economic optimism continued to persist last week, particularly with respect to the housing market. REALTORS® are feeling more optimistic, buyers still want to buy, and rates remain very favorable. However, the recovery is running into headwinds that have increased uncertainty about the future with key, fundamental indicators like jobless claims and consumer confidence both moving in the wrong direction. We continue to remain optimistic about the recovery but have grown more cautious in recent weeks.

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Keeping Clients Informed During COVID-19

Homeowners rely on real estate agents to help them make informed decisions and build wealth through homeownership. By the time the average American retires, most of their wealth comes from home equity. Especially in these trying times, home equity is an important financial tool for homeowners. Learn more about Homebot today and as a C.A.R. member, you can share Homebot with up to 25 clients for free.

U.S. Homeownership Rate Soars to Near 12-year High

The U.S. homeownership rate soared to an almost 12-year high in the second quarter as low interest rates allowed more Americans to qualify for mortgages. The U.S. homeownership rate jumped to 67.9% from 65.3% the prior quarter, the Census Bureau said on Tuesday.

Most Common Home Improvements During the Pandemic

More than three-quarters of about 1,000 homeowners surveyed this month say they have carried out at least one home improvement project since the start of the COVID-19 outbreak, according to a new survey from Porch.com, a home remodeling website. According to the survey, homeowners have spent a median of $17,140 on improving their homes since the pandemic began, with an average of five improvement projects per household. To fund these household projects, 38% dipped into savings, 23% used credit cards, and 13% used their government stimulus checks.

The current climate requires that agents remain particularly diligent in order to comply with the latest COVID-19 guidelines–especially when managing onsite property visits. Glide has created a guided workflow to make it easier to create, send, and manage PEAD-V forms so that buyer’s agents can better track prospects and listing agents can maintain an updated visitor log. All registrants will learn how to:

• Instantly create compliant PEAD-V forms for multiple properties and visitors in one efficient workflow

• Request signatures via DocuSign or Digital Ink and deliver individualized PEAD-V forms automatically to each listing agent

• Collect and organize PEAD-V forms for all your listings using a unique link you can share via the MLS, your website, email, or text
   

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