DMAR Digest | Week of May 4

COVID-19 updates

Guidelines for Real Estate Showings in Denver and Boulder
Two important updates have been made regarding local orders. First, the City & County of Denver updated its guidelines regarding real estate showings. Second, Boulder County Public Health has also made changes on its website,  bouldercounty.org. Read More

Update Regarding Real Estate Showings in Broomfield
Phase two will begin May 9, at which time “Low Contact Personal Services” including real estate showings will be allowed. Read More

Message from DMAR: Update on Stay-at-Home Orders
At this time, we are encouraging our members to stay at home except when absolutely necessary, practice strict social distancing, limit face-to-face interaction and wear face masks when in public. Adhering to these guidelines will ensure your ability to provide the consumer with the safest, best-in-class service they’re so accustomed to receiving. Read More

Pending Home Sales Drop to Lowest Level Since 2011 as Coronavirus Takes Its Toll
While the coronavirus outbreak has not caused real-estate activity to stop entirely, it has put a major damper on what economists had anticipated would be a strong spring home-buying season thanks to low mortgage rates and pent-up demand among buyers. Read More

NAR Calls Sales Slowdown Temporary
Contract signings dropped in March as many housing markets paused as the coronavirus outbreak spread across the country. NAR's Pending Home Sales Index, a forward-looking indicator based on contract signings, dropped 20.8% in March compared to February. All four major regions of the U.S. saw a drop in contract activity last month. Read More

Nearly 10% of FHA and VA borrowers are in forbearance
According to those servicers, nearly 7% of the 38.3 million loans they service were in forbearance as of April 19, 2020. That’s an increase of more than one full percentage point from the previous week’s total of 5.95%. Read More

Your Guide to PUA Benefits
Millions of independent contractors and other self-employed individuals, including a large share of the nation’s 1.4 million REALTORS®, may now be eligible for unemployment benefits under the recently passed CARES Act. Read More

Federal Reserve waives limits on number of savings account withdrawals, transfers
The Federal Reserve is making it easier to get your money out of savings by temporarily waiving rules limiting the number of savings account withdrawals and transfers as the coronavirus pandemic creates financial strains for many households. Read More

Fed is slowing the pace of mortgage purchases
The Federal Reserve is slowing the pace of purchases in its program to buy Treasuries and mortgage-backed securities after concluding that its bond-market rescue worked, Fed Chairman Jerome Powell said on a conference call with reporters at the end of a two-day meeting on Wednesday. Read More

More Money For Smaller, Local Governments Could Come In Next Coronavirus Relief Package
House Speaker Nancy Pelosi on Wednesday revealed a bit of House Democrats’ plans when it comes to the next coronavirus relief package: more aid for state and local governments and more funding for smaller municipalities. Read More

After the Pandemic, Will Consumers Want Larger Housing?
Americans in many states, hunkered down from sheltering-in-place orders, may have started to feel cooped up. Space has never been more in demand. A survey of 1,300 homeowners conducted by realtor.com® and Toluna Insights found “small spaces” was the biggest gripe from owners about their homes during the pandemic. Read More

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We've Added More Online Classes to the Calendar

(We've recently added several new virtual courses to our May class calendar, all of which are hosted through Zoom. These classes are being offered free of charge to DMAR members; however, please note that registration is limited. You will need to register for a class in advance. A Zoom link will be sent via email to all attendees 24-hours before the start of class.
 
May 6: 2020 Annual Commission Update | CE Credits: 4
May 7: Warning Graphic Images: Knowing Market Trends | CE Credits: 0
May 12: Building an Investment Empire | CE Credits: 0
May 14: 2020 Annual Commission Update | CE Credits: 4
May 19: NAR Code of Ethics | CE Credits: 4​

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