C.A.R.’s New Ad Spotlights California’s Resiliency
Updated: Jun 8
Focusing on the strength and resiliency of Californians, C.A.R. this week launched a new ad campaign to serve as a tribute to the people who live here. Airing statewide, between May 4 and July 6, the new campaign highlights how hard Californians are working to keep our state safe, to keep our lives moving, and to keep our sights focused on building a better future. We hope all Californians find this a message of hope and inspiration and hope you’ll share these ads with as many people as you possibly can. Thank you, REALTORS®, for being there for each other and for being a force for positivity in our communities. We at C.A.R. are here for you, as you are for all Californians.
Stay-at-home local ordinance list - Updated May 4
C.A.R. has compiled a list of county and local orders relating to real estate’s status as an essential service. Note that many cities and counties are changing their guidance/orders based on local events. These change daily, sometimes hourly. We are working to keep this information current, but we encourage you to use these lists with caution and continue to check your local and county websites for any updated orders or guidance.
Housing Market Update Videos
C.A.R.'s Research & Economics department has released its updated Economic & Housing Outlook, which touches on how COVID-19 is impacting the housing market, future outlooks and scenarios, and resources for members. There are four videos available – statewide, Bay Area, Central Valley and Southern California.
FHFA Extends Flexibilities for Fannie, Freddie Customers
The Federal Housing Finance Agency has extended a number of loan origination flexibilities for Fannie Mae and Freddie Mac customers, most of which are extended to at least June 30. Extensions include: alternative appraisals on purchase and rate term refinance loans; alternative methods for verifying employment before loan closing; flexibility for borrowers to provide documentation (rather than requiring an inspection) to allow renovation disbursements (draws); and expanding the use of power of attorney and remote online notarizations to assist with loan closings.
Update on Coronavirus Market Impacts
With the spread of the Coronavirus seemingly slowing down in the past week, the housing market is also offering some glimpses of hope as pending sales remained on the rise and more properties were added to the market. While the impact associated with Covid-19 will linger for the rest of 2020 and beyond, signs of improvement are encouraging and are needed to help us get through this challenging time.