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Thursday, September 24, 2020

4 Easy Staging Tips You Haven't Thought About

4 Easy Staging Tips You Haven't Thought About: Since buyers want that great first impression, it's important to declutter—often that means cleaning until your home looks like it's never been lived in.

Tuesday, September 22, 2020

Homeowners gain over $620 billion in equity in second quarter

 U.S. homeowners with mortgages witnessed a 6.6% year-over-year increase in their equity in the second quarter of 2020 – representing a cumulative gain of $620 billion for the nation and an average $9,800 hike in equity per homeowner, according to a new report by CoreLogic.

Record-low mortgage rates and constricted sale inventory cast the perfect storm for home prices which rose 4.3% annually through June ultimately bolstering the increase in home equity, CoreLogic said in its home equity report.

“Homeowners’ balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures,” said Frank Martell, president and CEO of CoreLogic.

Despite recent gains, the data service provider predicts upward advancements may be mitigated by consistent unemployment and home prices will dip in concurrence with a possible jump in delinquencies.

On Sept. 9, Frank Nothaft, CoreLogic’s chief economist reported the share of loans with payments 90 days to 119 days late quadrupled between May and June, rising to 2.3%, the highest level in more than 21 years.

“In our latest forecast, national home price growth will slow to 0.6% in July 2021 with prices declining in 11 states. Thus, home equity gains will be negligible next year, with equity loss expected in several markets,” Nothaft said.

Friday, September 18, 2020

13 Ways to Step Up Your Defense Against Hackers

13 Ways to Step Up Your Defense Against Hackers: This isn’t the time to let down your guard. View best practices to help you and your clients avoid becoming victims of real estate scams.

Monday, September 14, 2020

 CDC Eviction Moratorium 

Order Summary On September 1, 2020, the Centers for Disease Control and Prevention (CDC) issued an eviction moratorium for nonpayment of rent for certain renters until the end of the year. The order is written to be effective when it is formally entered into the Federal Register on Friday, September 4. Applicability The order applies to renters who swear under penalty of perjury that the following are true:  The individual has used best efforts to obtain all available government assistance for rent or housing;  The individual either (i) expects to earn no more than $99,000 in annual income for Calendar Year 2020 (or no more than $198,000 if filing a joint tax return), (ii) was not required to report any income in 2019 to the U.S. Internal Revenue Service, or (iii) received an Economic Impact Payment (stimulus check) pursuant to Section 2201 of the CARES Act;  The individual is unable to pay the full rent or make a full housing payment due to substantial loss of household income, loss of compensable hours of work or wages, a lay-off, or extraordinary out-of-pocket medical expenses;  The individual is using best efforts to make timely partial payments that are as close to the full payment as the individual’s circumstances may permit, taking into account other nondiscretionary expenses; and  Eviction would likely render the individual homeless— or force the individual to move into and live in close quarters in a new congregate or shared living setting— because the individual has no other available housing options. Other Provisions  The written affirmation by the tenant must be signed under penalty of perjury by all adults on the lease and given to the landlord.  The order does not affect the ability of a landlord to evict for reasons other than non-payment of rent or the ability to charge late fees for unpaid rent.  The order does not relieve the renter of the obligation to pay rent or adhere to the lease. Interaction with State and Local Governments  This order does not affect state and local eviction moratoriums that are already in place and that meet or exceed the same level of protection as that in the CDC order.  The order makes clear that states and localities can enact protections above and beyond those in the order. Criminal Penalties  Violations by a person of the order are punishable by a fine of up to $100,000 and up to 1 year in jail, or both, if the violation does not result in a death. If it does result in a death, a violation by a person is punishable by a fine of up to $250,000, or 1 year in jail, or both.  Violations by an organization are punishable by a fine of up to $200,000 and up to 1 year in jail, or both, if the violation does not result in a death. If it does result in a death, a violation by an organization is punishable by a fine of up to $500,000.  Perjury is a federal crime that that is punishable by a fine or by up to 5 years in jail, or both. For more information, please contact the NARPM Governmental Affairs Team at legislativeinfo@narpm.org.