A group of PSAR members gathered on Friday, October 23^rd, in Downtown La Mesa to plant trees and shrubs in a parkway parcel near the site where an historic building once stood. This landmark was destroyed by rioters taking advantage of an initially peaceful demonstration supporting racial equality May of this year.

The participating PSAR members all agreed that the landscaping project experience was meaningful in many ways. They felt proud to be part of an organization that cares about helping the communities in which it does business. And they each were grateful for the opportunity to help a part of their hometown rebuild and revitalize.

Organized by Tracy Hollingworth, PSAR Government Affairs Director, the event also symbolized PSAR’s ongoing commitment to championing policies and causes that focus on safe and inclusive communities.

Notable participants in the work day effort were La Mesa City Council member Kristine Alessio and PSAR CEO Rich D’Ascoli.

The landscaped parcel is located near Palm Avenue at Allison Avenue, adjacent to an historic building that once housed Randall Lamb Associates, an engineering services firm that operated in that location for 42 years. The building, gutted and burned to the ground by fire ignited by vandalizing and looting arsonists, is now gone. A vacant lot remains in its place.

The flora planted by the landscaping team includes bunches of evergreen perennial flowers (Calylophus Drummondii) that bloom bright yellow flowers in spring and summer, plus several magenta red autumn sage shrubs (Salvia Greggi Furmans Red), an attractive and tough drought-tolerant plant that attracts hummingbirds and butterflies.

Also planted were two Forest Pansy trees (Cercis Canadensis) known for their striking foliage of pea-like, rosy-pink flowers and the abundant shade they create.

Hard costs, including the purchase of vegetation, shovels and work gloves, were covered by a Community Rebuilding Grant from the National Association of REALTORS® (NAR) as part of NAR’s Urban Initiative, which provides funding to assist urban areas in addressing challenges in their communities.

For PSAR members, the experience went beyond the mere planting of flowers and trees. In their own words, they expressed what volunteering for this activity personally meant:

-- “We were all heartbroken by what happened in La Mesa, so to participate in this landscaping project was very important to show everyone how PSAR cares about the communities our members serve,” said Robert Cromer, 2020 PSAR President. “I am so proud of our PSAR members and especially how our Association is supportive of transformational policies that promote fairness, justice and inclusiveness in our communities.” -- Robert Cromer, 2012 PSAR President.

 “I am very proud to be a part of PSAR, an organization that not only cares about the communities its Realtors serve, but whose members go above and beyond by putting a shovel to the ground to help revitalize a community that suffered damage during recent protests.” -- Jan Farley.

-- “I am proud to be a member of PSAR. I recognize the importance for our members to assist in revitalization of urban areas and, in this case, on my city’s local main street. 

My hometown had recently suffered damage during the protests earlier this year. My local bank was burned to the ground and numerous other businesses suffered damage. It was clear our peaceful village was hurting. Our gift was re-beautifying a little corner with trees and drought-tolerant plants. 

Hopefully, this will be the first of many rays of light to return to our city. This project was near and dear to my heart as I drive by weekly and see our beautiful little corner come to life. It is important for my real estate community and PSAR to support efforts to heal the damage in La Mesa.” -- Deirdre Bramberg.

-- “I was proud to join my fellow PSAR directors as we restored this little park. I was so glad to see PSAR members helping to beautify this little corner of La Mesa. I’ve lived near La Mesa Village for 20 years, and love our little town. I helped clean up after the rioting last May. I love it when Realtors pitch in to make their communities better.” -- Sean Hillier

-- “It was a great experience to be a part of this project as I grew up in La Mesa and I'm now a homeowner and Realtor in the area. It was very sad to see my hometown being destroyed during the riots, I wanted to help take action and assist in creating the change that so many of us want to see in our communities.  I'm very proud to be a part of PSAR and its efforts to not only help revitalize La Mesa and other Urban Areas but to be involved as PSAR leads the way in building safe and inclusive communities.”  -- Dylan Graham.

-- “I am very proud to be a part of PSAR. I was honored to help with the La Mesa landscape project. I want to be more involved in serving and supporting my community as well as others. I want to make a difference together with PSAR as a team to keep our communities looking beautiful and to encourage our neighbors that we care. We can get through these uncertain times together by keeping the Faith!” -- Katherine Mannin

California’s housing market outperformed expectations in September 2020 with home sales at their highest level in more than a decade and the median home price at another record high for the fourth straight month.

According to the most recent monthly home sales and price report from the California Association of REALTORS® (C.A.R.), home sales and prices are setting records despite the lowest inventory in years.

The statewide inventory of 2.0 months in September 2020 was lower than 3.6 months in September 2019. It was the lowest statewide level since November 2004. In San Diego County, the inventory declined by nearly half from 3.1 months in September 2019 compared to 1.7 months in September 2020.

Closed escrow sales of existing, single-family detached homes in California approached the 500,000 level in September, making the Covid-19 pandemic that depressed California’s housing market earlier this year seem like a distant memory, although year-to-date homes sales were down 3.7 percent in September.

CAR said home sales totaled a seasonally adjusted annualized rate of 489,950 units in September 2020, according to information collected from more than 90 local REALTOR® associations and MLS statewide. The September 2020 statewide home sales number was up 5.2 percent from August 2020 and 21.2 percent higher than September 2019. It was the third straight month for home sales to exceed the 400,000 level and the highest level recorded since February 2009. September sales rose 5.2 percent from 465,400 in August 2020 and were up 21.2 percent from a year ago, when 404,030 homes were sold on an annualized basis in September 2019.

September 2020 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

In San Diego County, September 2020 homes sales rose 7.5 percent compared to August 2020 and 32.8 percent higher than September 2019.

To complement high home sales figures, the statewide median home price hit another new high in September 2020, after setting records in June, July and August. California’s median home price exceeded the $700,000 mark for the second consecutive month, as it reached $712,430 in September 2020, edging up 0.8 percent from $706,900 in August 2020, and jumping 17.6 percent from $605,680 in September 2019. The yearly price increase was the highest recorded since February 2014 and higher than the six-month average of 5.3 percent observed between March 2020 and August 2020.

In San Diego County, the median price for a single-family home in September 2020 was $735,000, a 0.3 percent difference from $732,560 in August 2020, and 15.4 percent higher than the $636,750 figure from September 2019.

Home sales in all price segments are continuing to bounce back since the Covid-19 crisis depressed the housing market earlier this year while sales of higher-priced properties are recovering faster than the rest of the market.

Analysts say factors causing price increases include a lack of homes for sale leading to price wars, plus record low interest rates and workers stuck doing jobs from home are raising homeownership levels and some are looking for more square footage space.

“As motivated buyers continue to take advantage of the lowest interest rates in history, home sales will be elevated in the next couple of months, and the housing market should remain a bright spot in a broader economy that continues to struggle,” said C.A.R. President Jeanne Radsick, a second-generation REALTOR® from Bakersfield, Calif. “And with many employers allowing the flexibility of working remotely, homebuyers now also have the option of searching in less expensive areas where homes are more affordable and buyers can get more home for their money.”

“With the statewide home price hitting new highs for the past four months, it’s sounding like a broken record as California home sales and prices continue to outperform expectations,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “However, with the shortest time on market in recent memory, an alarmingly low supply of homes for sale, and the fastest price growth in six and a half years, the market’s short-term gain can also be its weakness in the longer term as the imbalance of supply and demand could lead to more housing shortages and deeper affordability issues.”

Reflecting the rise in home prices, consumers continue to say it is a good time to sell, according to C.A.R.’s monthly Consumer Housing Sentiment Index. Conducted in early October, the poll found that 56 percent of consumers said it is a good time to sell, down from 58 percent a month ago, but up from 52 percent a year ago. Meanwhile, low interest rates continue to fuel the optimism for homebuying; 28 percent of the consumers who responded to the poll believed that now is a good time to buy a home, up from last year, when 22 percent said it was a good time to buy a home.

Other key points from the September 2020 resale housing report included:

-- At the regional level, homes sales increased in the high double-digits compared to last year in all major regions. The Central Coast and the San Francisco Bay Area had the strongest sales growth in September with both regions surging 42 percent and 34.2 percent, respectively. That was followed by increases in the Far North (28.3 percent, Southern California (25.0 percent and the Central Valley (18.4 percent).

-- At the regional level, home prices posted double-digit increases compared to last year in all major regions. The Central Coast had the highest increase in median price, rising 20.6 percent from last year, followed by the San Francisco Bay Area (20.5 percent, the Far North (19.0 percent, Southern California (15.2 percent) and the Central Valley (14.6 percent. All regions except the San Francisco Bay Area set a new high in median price in September.

-- Active listings in September 2020 continued to decline significantly in all major regions. The Central Coast had the biggest drop (-60.3 percent) from last September, followed by the Central Valley (-51.5 percent), Southern California (-49.9 percent), the Far North (-43.9 percent), and the San Francisco Bay Area (-31.9 percent).

-- Housing inventory tightened by double-digits in all price segments, but the constraint was more pronounced in the affordable markets. Active listings in every price range continued to decline sharply from last year, with for-sale properties priced below $1 million falling 56 percent on a year-over-year basis. Compared to a year ago, the supply for homes priced between $1 million and $3 million declined 30.4 percent, and homes priced at or above the $3 million benchmark declined 19.4 percent.

-- The median number of days it took to sell a California single-family home was 11 days in September 2020, down from 24 days in September 2019. It’s the lowest statewide figure ever recorded. The 11-day figure compares to 13 days in August 2020, 17 days in July 2020, 19 days in June 2020, 17 days in May 2020, 13 days in April 2020, 15 days in March 2020 and 23 days in February 2020.

September 2020 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

-- In San Diego County, the median number of days an existing, single-family home remained unsold on the market was seven days in September 2020, compared to 18 days in September 2019. The seven-day figure compares to eight days in August 2020, 10 days in July 2020, 12 days in June 2020, 11 days in May 2020, eight days in April 2020, 10 days in March 2020, 12 days in February 2020 and 23 days in January 2020.

-- The 30-year, fixed-mortgage interest rate averaged 2.89 percent in September, down from 3.61 percent in September 2019, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 2.98 percent, compared to 3.38 percent in September 2019.

In other recent real estate and economic news, according to news reports:

-- The Commerce Department reported the nation’s third-quarter domestic product (GNP), a measure of the total goods and services produced in the July-to-September 2020 period, expanded at a 33.1 percent annualized pace. That’s the fastest growth ever for the U.S. economy and it follows the worst quarter in history when the economy plunged 31.4 percent in the second quarter 2020. The previous GNP quarterly record of 16.7 percent was set following World War II in the first quarter of 1950.

-- Realtor.com said the housing market is bucking the traditional trend of a cool-down in the fall season, which typically occurs as students return to school. While buyers normally begin to hunker-down this time a year, instead sellers are getting top dollar for their home outside of the prime selling season, said Realtor.com.

-- CoreLogic reports the September 2020 median home price in San Diego reached a new high of $650,000, which was a 10.2 percent increase since the Covid-19 lockdown began in March. September’s number exceeds the previous record of $640,000 in August 2020.

-- A recent S&P CoreLogic Case-Shiller reports home prices in San Diego increased 7.6 percent over the past year, the third-fastest in the nation and at a rate not seen in more than two years. The other cities with faster increases were Phoenix, up 9.9 percent, and Seattle, up 8.5 percent.

-- Redfin reports the median price of a single-family home in San Diego County rose 15.7 percent over the past year since September 2019 to $665,000. That compares to a 14.4 percent increase in the nationwide median home price to $333,900.

-- Zillow reports the median price of a single-family home in September was $632,264, marking a 7.6 percent increase from a year ago. Nationally, the typical home value rose 5.8 percent in a year-over-year comparison to $259,906 in September.

-- The Federal Housing Finance Agency said home prices increased 1.5 percent nationally from July to August, the largest month-to-month increase since 1991. Prices were 8 percent higher in August 2020, compared to August 2019.

-- A Redfin survey of more than 3,000 people in October revealed that 16 percent of them would consider moving to another country outside the U.S. if their preferred presidential candidate loses in November. That’s up from 9 percent four years ago. Redfin’s survey also found that 20 percent of Biden voters say they would leave the U.S. if he loses. Among Trump supporters, 15 percent said they’d depart if the President loses reelection. A greater percentage, 24 percent, said they are considering moving to another state. Redfin also reports landlords in multiple states are thinking about raising rents if Biden wins.

CRMLS Paragon has a new set of Client/Agent Reports called Agent Preferred 1 and Client Preferred 1. These are not the default reports that, for many agents, cut off the text in the remarks section.

The recent Paragon upgrade added more space to type in the public and private remark fields. The added text gets cut off on the standard old Paragon reports. CRMLS developed a new set of reports that address this issue and some other recent issues that have been around for many years. See if you can find what has been addressed?  PSAR will be working with CRMLS to create new reports for agents to choose from in the future.

Here is a look at the old report which is now called the Agent Preferred 2. In this report, you can see the text in the public remarks is cut off.  The text in the private remarks are also cut off.

 

The Agent Preferred 1, it looks like this.

To make this new report your preferred detail report, meaning to see this view each time you search for property go to the Preferences Wizard and scroll through to page 7.

 

Then in the 'Default Double Click Report' box, select the Agent Preferred 1 as your default report.

In the 'Default Manual Email Report' box, select the Client Preferred 1 as your default report.

 

The NAR-mandated Clear Cooperation Policy was implemented in May.  CRMLS provided a period of limited enforcement and generous warnings to give subscribers the opportunity to learn the new rules.

Per a vote from the CRMLS Board of Directors which is made up of volunteer brokers, effective November 1st, 2020, CRMLS will eliminate the warning notice that is given to users who show a listing in the Coming Soon status.

Starting 11/1/20, if a CRMLS user shows a Coming Soon listing, that user will be subject to a fine of 1% of the list price, not less than $500 and not to exceed $2,500. This is the current fine structure for any Clear Cooperation Policy violation.

As a reminder, showing a listing in Coming Soon status is a violation of Rule 9.3 of the CRMLS Rules and Regulations. Rule 9.3 states:

9.3: Availability to Show or Inspect. Listing Brokers shall not misrepresent the availability of access to show or inspect a listed property. For any property in which Listing Broker selected a status of Coming Soon or Hold, Listing Broker represents that the property shall have no showings or tours, whether conducted by Listing Broker or otherwise, until such time as the Property is placed in the Active or Active Under Contract status.

Here are some additional resources that may be helpful:

• CRMLS Coming Soon Form
• Report Off-MLS Marketing (click on Report Off-MLS Marketing button)
• Differences Between the Registered and Coming Soon Statuses
• CRMLS Citation Policy
• CRMLS Matrix Compliance FAQ
• CRMLS Paragon Compliance FAQ
• CRMLS Flex Compliance FAQ

 

 

PSAR is encouraging all of our members, and all San Diego-area real estate industry professionals, to exercise their right to vote in the upcoming election. Your vote counts!

PSAR has an active and vital group of REALTOR® members who serve on the PSAR Government Affairs (GA) Committee. The GA Committee has three subcommittees that focus on specific geographical areas of the county.

GA Committee members offer political endorsements, and act as political advocates and review public policy and its impact on the PSAR membership in particular and the real estate industry as a whole. In addition, GA Committee members address a variety of complex and multi-dimensional issues impacting the protection of private property rights.

GA Committee members are acutely aware of the importance of voting, even more so in this upcoming general election. The stakes are high. If issues and candidates affecting your realtor business and the industry itself matter to you, then it matters that you vote on them.

With early voting underway, GA Committee members were recently asked about the importance of voting. Below are their comments (names appear in alphabetical order, some quotes were edited for clarity).

-- “Our committee is made up of Republicans, Democrats, Independents, and others. We research, conduct interviews, review questionnaires, and our decisions are primarily based upon the notion of property rights, expanding homeownership, rights of tenants, and the rights of owners of commercial and rental properties. We will endorse candidates whom we feel best support these values over their opponents. It’s important to elect leaders who will work with REALTORS®. We all have our own choices of candidates, but we hope by supporting pro-real estate candidates and propositions, it might help influence voters who agree with us that property rights and the expansion of homeownership are essential to all Americans.” -- Mike Anderson

“Democracy is vital to real estate. If people don't vote, then it’s the corporations and banks that set policy that affects your ability to buy a home. When you vote, you make your voice heard. Be a voice for our communities where we can work towards a country where everyone has the opportunity to be a homeowner.” -- Deirdre Bramberg

--“ I sat with my family and we reviewed each proposition and discussed ones we were not clear on. Let’s use the voting season to engage and unite families.” -- Jeff Campbell

-- “Elected officials are political beings. They listen to the people in the communities who vote and they also listen to the people and organizations who contribute resources that allow them to reach out to those voters. Making sure your voice is heard as a voter is every bit as important as for whom you vote.  Communities and neighborhoods with high voting percentages attract more attention and resources.  Citizens who vote have a voice with politicians and those who do not vote have no voice." -- Richard D’Ascoli, Chief Executive Officer, PSAR

-- “It is a civic duty to vote and every single vote makes a difference. As a citizen of the country, the right to vote is one of the freedoms the county gives its people. It is a chance for our voice to be heard and an opportunity to select the leaders we believe have the ability to represent us in our government.” -- Merrie Espina.

-- “Each PSAR member should exercise their right and obligation to vote. In this election, as in most elections, your future earnings, your tax obligations, and the laws that enable or hobble our industry are all in play. PSAR, C.A.R. and NAR can all be influential as supporting organizations, focusing on critical policy issues. But, in the final analysis, it is your individual vote and the power of our collective votes that will select our elected officials and establish the policies that impact our lives and our business environment for years to come.” -- William Hall

-- “Our votes this election are more important than ever as our region, state and country stand at a pivotal time.  PSAR’s Governmental Affairs Committee, as well as C.A.R. and NAR, spend a lot of time each election interviewing and weighing which candidates and propositions uphold basic property rights. REALTOR® endorsements have been made available to all of our members and we hope that you will read and consider the recommendations when you cast your votes as you believe best represents your views.” Kay LeMenager

-- “In all areas of life having your opportunity to vote is of utmost importance. I feel it is our duty as Americans to make voting a serious commitment in support of the sacrifice of those before us to fight for our right to do so. My children were educated to study the propositions and follow the federal, state and local elections and vote from the age they became eligible. It starts with us as parents to lead by example.”  -- Colleen McDade

-- “It’s very important to get out there and vote. Many people complain about the results, but if you don't vote, don’t complain. Every vote counts, so do your part and get out there and vote.” -- Patricia McFadden

-- “Voting is how we convey our desires for change. Please exercise your right to vote with the goal of making a better today and tomorrow for us all.” -- Paul Moses

-- “Every vote really does matter. Just last cycle, San Diego District 8 primary was decided by 3 votes, my college board race was decided by 23 votes. Vote and get your friends and family to vote, too.” -- Rafael A. Perez

-- “I am involved in Government Affairs and I try to be as active as I can be in politics is because it does have an impact on our industry. One can be part of the problem or the solution. I can stand by and complain or I can do what I can do to act.  Rome was not built in a day, and as we all know California has its issues which have a direct impact on our business. Be impactful and relevant. Part of doing that is reading the voters guide and voting. It’s common sense, do nothing and one can only expect nothing. So, why not be relevant and do something.” -- Rebecca Pollack-Rude

-- “I’ve been a member of the Government Affairs Committee for many years because I believe the grass roots portion of our local governments are truly the roots of our way of life as it pertains to the freedoms that are rightfully ours. Voting is the most important right and freedom that, as a U.S. citizen, we enjoy, or should enjoy. The committee is a way to hear from our peers, our local government officials and the candidates at various levels of government who have an impact at every level of our community life, and most especially as it pertains to housing and private property rights. In this unprecedented time of pandemic, the value of the roof over our head has never been more in the spotlight. Personally, I’ve grown to appreciate greatly our rights as individuals, as members of our local communities, our country and lately as a member of humankind. Register to vote, inform yourself. Make choices because you understand the issues and the candidates, not because someone else told you that it’s the best way or the only way or just because. Exercise your most valuable right. Vote and understand and appreciate that right.” -- Pat Russiano

-- “I have always felt that it is one’s responsibility to be knowledgeable regarding the election process, issues and then vote. I taught my children and now grandchildren that they have a responsibility as a citizen of the United States of America to vote.” -- Norma J. Scantlin

-- “Our GA Committee spends a lot of time vetting our recommendations with input from REALTORS® from various backgrounds and party affiliations. Please let your voice be heard and vote. If nothing else, vote NO on the real estate related propositions 15, 19 and 21.” -- Mark Scott

-- “I have never once missed the honor and the obligation to vote. It is the glue that binds us as Americans, giving us the confidence that we are a nation guided by the rule of law.  It is fundamental to the American success story and to our sense of pride in being an American.” -- Mitch Thompson

-- “As a REALTOR® Party member, 2021 PSAR President-Elect, and as an individual, I care deeply about the future of our country. I know first-hand that our vote is needed in this election more than ever before. Your GA committee and the PSAR Board of Directors have spent a great deal of time to vet all PSAR endorsed candidates. I hope that you would consider these candidates as you cast your vote. The future of our country is in our hands. Please vote.” -- Max Zaker

_______________________________

Our Mission is to empower Realtors to flourish while being accountable to each other
our clients and our community.

Since 1928, the Pacific Southwest Association of REALTORS® has played a significant role in shaping the history, growth & development of the Real Estate industry in San Diego County. This program is only open to REALTORS® and PSAR Affiliate Members. There is no cost for attending this program.

PSAR is recommending a “No” vote on California Proposition 21, a rent control ballot proposition known as the “Rental Affordability Act.” The Governor and Legislature have already passed rent control into law. This Proposition goes too far and has too many unintended negative consequences.

If approved, Prop. 21 would change state law to allow cities to apply new rent control ordinances and/or expand existing ones. New laws could be enacted affecting homes at least 15 years old. Prop. 21 exempts single-family homes owned by landlords with more than two properties.

Proponents claim cities should be allowed to approve additional limits on rent increases to protect California families who are one rent hike away from being driven out of their neighborhoods by landlords. They further claim this proposition will stop homelessness and gentrification.

The fact is that Prop. 21 would make it less desirable for builders to construct more housing, affordable or otherwise, at a time when California has a massive housing shortage. It would also decrease revenue for city and state governments, already cash-strapped by the fallout from the Covid pandemic. It would reduce the number of housing units in the state and allow bureaucrats to add fees on top of base rent, thereby increasing the cost of living at a time when Californians can least afford it. In fact, only two years ago, in 2018, Californians made their decision about rent control at the polls.

In 2018, voters in 56 of 58 California counties overwhelmingly rejected a statewide rent control measure by a 20-point margin. Why is this subject being revisited so soon? Los Angeles-based AIDS Healthcare Foundation and its President, Michael Weinstein, funded a signature collection drive that once again put the measure on the ballot. This appears to make this issue a special interest one.

Last year, state legislators passed a new law that set a 7 percent ceiling on yearly rent increases. CalMatters, a public interest journalism venture, concluded that the action by Sacramento lawmakers in 2019 was an effort to ward off another statewide rent control ballot measure by Weinstein and company that clearly was unsuccessful.

According to CalMatters, Prop. 21 opponents include Governor Gavin Newsom, California Apartment Association, California Seniors Advocate League, Essex Property Trust and Prometheus Real Estate Group. Prop. 21 supporters include the AIDS Healthcare Foundation, Eviction Defense Network and Vermont Sen. Bernie Sanders.

California Association of REALTORS® (C.A.R.), Apartment Association of Orange County and Californians to Protect Affordable Housing, a coalition of housing advocates, renters, businesses, taxpayers and veterans encourage a “NO” vote on Proposition 21.

Other organizations opposing Prop. 21 include the California Council for Affordable Housing, California Community Builders, the California State Conference of the NAACP, Si Se Puede, Congress of California Seniors, Howard Jarvis Taxpayers Association and the San Diego Building and Construction Trades Council.

A CalMatters headline stated “Proposition 21 rent control will discourage construction of affordable housing.” A CalMatters opinion writer asserted: We must protect small property owners who, in contrast to corporate landlords, often are natural affordable housing providers, operate on small margins, give applicants a chance if they don’t meet all of the rental qualifications, and help maintain the integrity of a community. The state of California is facing a new economic challenge, and families across our state are struggling. What we need most is new investment in our housing market, not an extreme measure like Proposition 21 that will further destabilize it.”

The San Diego Union-Tribune newspaper editorial board wrote: “Expanding rent control will make the California housing crisis worse. Rent control is the wrong way to help Californians struggling with housing. Lawmakers who are juggling a lot during this pandemic need to not lose sight of that. The long-term solution is listening to experts and building new houses.”

The San Francisco Chronicle newspaper editorial board described Prop. 21 as “a rent control retread unimproved by age.”

The Press Democrat newspaper in Santa Rosa, Calif. said Prop. 21 is a proposed “rent control law that won’t end the housing crisis.” Its editorial resource stated: “California voters soundly rejected rent control in the November 2018 election for a good reason: It won’t alleviate the state’s housing problems. In fact, economists almost universally agree that imposing rent control would be counterproductive. State lawmakers voted in 2019 to cap rent increases anyway, while requiring landlords to show `just cause’ for evictions. Yet, here we are again, barely a year later, asked to decide another rent control initiative. Voters should once again say no.”

The headline in the Orange County Register read, “Rent control is the horrible idea that won’t go away.” Its editorial stated: “California’s housing affordability isn’t that complicated. There is high demand and inadequate supply. If the goal is to expand the accessibility of housing, it is necessary to increase supply. Rent control is incredibly effective at backfiring on that front. Research has shown that San Francisco’s rent control policies resulted in many landlords removing housing units from the market. Renters in non-rent-controlled units, meanwhile, faced even higher rents than would otherwise be the case.”

For more information about the campaign against Prop 21, visit www.noonprop21.org.

_______________________________

Our Mission is to empower Realtors to flourish while being accountable to each other
our clients and our community.

Since 1928, the Pacific Southwest Association of REALTORS® has played a significant role in shaping the history, growth & development of the Real Estate industry in San Diego County. This program is only open to REALTORS® and PSAR Affiliate Members. There is no cost for attending this program.

DRE ANNOUNCES PUBLICATION OF REVISED LANDLORD/TENANT GUIDEBOOK

SACRAMENTO – The California Department of Real Estate (DRE) announced today that it has completed a major revision to the widely used resource guidebook titled, California Tenants – A Guide To Residential Tenants' and landlords' Rights and Responsibilities.

The Department of Consumer Affairs last published the guidebook in 2012. Since then, the Legislature passed, and the Governor signed, many new laws addressing landlords and tenants. Recognizing the need to update this guidebook, DRE revised it to reflect the addition of new laws, including the Tenant Protection Act of 2019 (AB 1482) and the
Tenant, Homeowner and Small Landlord Relief and Stabilization Act (AB 3088), which includes the COVID-19 Tenant Relief Act of 2020. These updates are critically important to landlords and tenants, especially during this time of economic uncertainty.  “Equipping tenants and landlords with detailed and timely information to help them make
informed decisions was DRE’s main focus with this project,” Real Estate Commissioner Doug McCauley said. “Keeping Californians housed is crucial in the public health climate and this resource will provide much-needed clarity on key rental issues.”

Relevant and detailed revised chapters in the guidebook include but are not limited to: Before You Agree to Rent, Dealing with Problems, Terminations and Evictions, Tenant Protection Act of 2019, Resolving Problems, Getting Help from a Third Party, and a Glossary.

This guidebook and other useful information for landlords and tenants can be found at the DRE-created website HousingisKey.com. The online version of the guidebook can be easily translated into other languages using the google translate function on the website.

Printed copies will be available later this year.  Here is a link to the downloadable PDF version of the document.

PSAR is recommending a “no” vote on California Proposition 15, a ballot measure that calls for higher property taxes on commercial and industrial real estate.

Prop. 15 is referred to as the “Split Roll Ballot Initiative, Schools and Communities First.” If approved, Prop. 15 would require calculating property taxes for commercial and industrial real estate based on current market value. It would raise property taxes on supermarkets, shopping malls, office buildings, factories, movie theaters, hotels, restaurants, sports stadiums, warehouses, self-storage facilities, major retailers and other businesses.

Proponents claim $6.5 billion to $11.5 billion generated from the increased property taxes would be allocated to schools (40 percent) and local government (60 percent).Opponents say Prop. 15 is a direct attack on Proposition 13, which limits annual increases in assessed property value to 2 percent. Prop. 13, passed by California voters in 1978, remains a godsend to fixed-income retirees and middle-income workers who would be incapable of paying the increased property tax assessments over the last 40 years as California home prices have quintupled. If enacted, this massive tax increase will prompt companies to flee California at a time when businesses are already struggling.

The San Diego County Office of Assessor-Recorder-County Clerk, which opposes Prop. 15, recently delivered a presentation to PSAR members. The presentation included the contention that supporters for Prop. 15 are laboring under five false premises:

1. Businesses don’t pay their fair share of property taxes (in fact, taxes paid by commercial property owners have increased 1,930 percent since 1978);
   
   
2. Prop. 15 won’t impact small businesses because properties worth less than $3 million are exempt (in fact, the average commercial or industrial parcel in San Diego County is valued at $3.1 million, which is above the exemption level);
   
   
3. Prop. 15 will impact only property owners, not tenants (in fact, if tenants are required to pay higher rents by property owners who need to recoup the property tax increase, then costs will impact tenants/customers);
   
   
4. Prop. 15 won’t impact residential housing (in fact, raw land zoned for residential and commercial-industrial uses will be reassessed and mixed-use properties with more than 25 percent commercial also will be reassessed);
   
   
5. Prop. 15 won’t impact female-, immigrant- and minority-owned businesses (in fact, the groups opposing Prop. 15 include social justice leaders, such as the NAACP, California Black Chamber of Commerce, California Hispanic Chamber of Commerce, CalAsian Chamber of Commerce and National Action Network).

A Berkeley Research Group study found increasing property taxes on small businesses will hurt female- and minority-owned businesses the most, and up to 120,000 private-sector jobs will be lost. Prop. 15 would incentivize local governments to approve business projects to replace existing housing in order to generate greater property tax revenue.

Ernie Dronenburg, Jr., San Diego County Assessor-recorder-County Clerk, said, “Proposition 15 won’t close the door on an imaginary corporate tax loophole, but it will close the doors of real San Diego small businesses. Prop. 15 is the wrong idea at the wrong time.”

The San Diego Union-Tribune editorial board wrote: “No on Proposition 15, vast tax hike during a deep recession is a crazy idea. Approving Proposition 15 is not about preserving essential government services, as advocates assert. It is about preserving generous government pensions that threaten to bankrupt government agencies across the state. Send a message that pension reform should precede a massive tax hike and vote no on Proposition 15.”

Dan Walters, columnist with CalMatters, a public interest journalism venture, wrote: “Both proponents and opponents know that Proposition 15 is a proxy battle over whether Proposition 13 is still an untouchable icon. The measure’s backers had no way of knowing that the COVID-19 pandemic and the severe recession it spawned would visit themselves on California, changing the tenor of their battle with business groups over the issue. While proponents argue that the new revenue is needed to keep vital public services, including schools, from being slashed, opponents argue that with businesses already suffering, this is the wrong time to saddle them with more taxes.”

Antonio Villaraigosa, former Mayor of Los Angeles and Speaker of the California State Assembly, wrote in a CalMatters column: “This poorly drafted tax measure will disproportionately hurt everyday Californians during the worst economic crisis since the 1930s. It will put significant pressure on jobs in general, but private sector union jobs in particular. Because Prop. 15 raises property taxes, those higher taxes will get passed on to small business tenants, who rent. These businesses, in turn, will pass higher costs on to consumers in the form of increased prices on everything we buy, groceries, fuel, utilities, clothing and health care. California’s cost of living is already among the nation’s highest. Prop. 15 will drive the cost of living even higher.”

For more information about voting “no” on Prop. 15, visit https://noonprop15.org. The following statement is on the website: “Amid an unprecedented economic crisis, special interests are pushing Prop 15 on the November 2020 statewide ballot that will destroy Prop 13’s property tax protections and will be the largest property tax increase in California history. If businesses lose their Prop 13 protections, homeowners will be next.

“Prop 15 will raise taxes on business property, leading to higher rents for small businesses. Ultimately, Prop 15 will make income inequality worse by driving up the cost of living for just about everything we need and use, like food, utilities, daycare and healthcare.

“We must reject Prop 15 and maintain Prop 13 protections that have kept property taxes affordable and provided every taxpayer who buys a home, farm or business property with certainty that they can afford their property tax bills in the future. Now is not the time to raise taxes and bring more uncertainty to businesses and all Californians.”

County Assessor Comments on Prop 15 - "Unfortunately, Prop 15 hides that it is the largest property tax increase in California history that will"... Read More

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Our Mission is to empower Realtors to flourish while being accountable to each other
our clients and our community.

Since 1928, the Pacific Southwest Association of REALTORS® has played a significant role in shaping the history, growth & development of the Real Estate industry in San Diego County. This program is only open to REALTORS® and PSAR Affiliate Members. There is no cost for attending this program.

The Covid-19 pandemic that depressed California’s housing market earlier this year seems like a distant memory after the release of the most recent monthly home sales and price report from the California Association of REALTORS®.

In August 2020, California’s housing market continued to improve as statewide home sales climbed to their highest level in more than a decade and median home prices set another high, breaking July’s record.

The August numbers are the latest evidence that buyers and sellers have brushed off economic uncertainty in the reality of a post-Covid-19, housing market rebound.

Existing, single-family home sales in California totaled 465,400 in August 2020 on a seasonally adjusted annualized rate, up 6.3 percent from July 2020’s sales of 437,890, and 14.6 percent higher from August 2019, when 406,100 homes were sold on an annualized basis.

It was noteworthy that August’s sales total climbed above the 400,000 level for the second straight month since the Covid-19 crisis depressed the housing market earlier this year. It was the first time since the summer of 2016 that sales increased from the previous month three months in a row.

In San Diego County, August 2020 homes sales were down 2.2 percent from July 2020, but 10.2 percent higher than August 2019.

In addition to home sales records, home prices also set a record in August 2020. The statewide median price hit another new high after setting records in June and July.

California’s median home price broke the $700,000 mark, reaching $706,900 in August 2020, a 6.1 percent jump from July 2020’s $666,320 and reflecting a year-over-year rise of 14.5 percent compared to the $617,410 price set in August 2019.

August 2020 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

Sales of higher-priced properties are recovering faster than the rest of the market, pushing upward the statewide median home price. The median price represents the point at which half of the homes sell above a price and the other half below it.

The yearly price increase was the highest recorded since March 2014 and larger than the six-month average of 4.3 percent observed between February 2020 to July 2020.

In San Diego County, the median price for a single-family home in August 2020 was $732,560, a figure which was 1.9 percent higher than the $719,000 price tag in July 2020 and 12.7 percent higher than the $650,000 amount for August 2019.

“California’s strong housing recovery in terms of sales and price over the past few months is encouraging as motivated buyers are eager to purchase homes amid the lowest interest rates ever, which led to the fastest sales growth in a decade,” said 2020 C.A.R. President Jeanne Radsick, a second-generation REALTOR® from Bakersfield, Calif. “However, persistently low housing inventory will continue to push up home prices due to heavy buyer competition, which is starting to outweigh the benefits of record low interest rates and hamper housing affordability.”

“Low rates and tight housing inventory are contributing factors to the statewide median price setting a new record high three months in a row from June to August, said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “A change in the mix of sales is another variable that keeps pushing median prices higher, as sales growth of higher-priced properties continued to outpace their more affordable counterparts.”

Reflecting the rise in home prices, consumers continue to say it is a good time to sell, according to C.A.R.’s monthly Consumer Housing Sentiment Index. Conducted in early September, the poll found that 58 percent of consumers said it is a good time to sell, up from 54 percent a month ago, and up from 46 percent a year ago. Meanwhile, low interest rates continue to fuel the optimism for homebuying; 34 percent of the consumers who responded to the poll believed that now is a good time to buy a home, sharply higher than last year, when 22 percent said it was a good time to buy a home.

Other key points from the August 2020 resale housing report included:

-- Home sales at the regional level increased in all major regions from last year. The Central Coast and the San Francisco Bay Area had the strongest sales growth in August with both regions surging more than 10 percent in sales from last year. The Far North and Southern California regions increased more modestly in sales with a gain of 8.6 percent and 5.5 percent, respectively.

-- Home prices at the regional level posted double-digit price increases from last year in nearly all major regions. San Francisco Bay Area had the highest median price increase, rising 18.7 percent from last year, followed by the Central Coast (16.4%), Southern California (12.9%), and Central Valley (12.2%).

-- All but two counties reported a year-over-year gain in price, with 33 of the counties growing more than 10 percent. Santa Barbara had the highest price increase, gaining 41.7 percent year-over-year.

-- With fewer for-sale properties being added to the market, housing supply remained significantly below last year’s level. The 50.3 percent drop from a year ago was the biggest decline in active listings since at least January 2008. It was also the ninth consecutive month with active listings falling more than 25 percent from the prior year. 

-- With higher-than-normal housing demand and supply not being replenished as fast as prior to the pandemic, the Unsold Inventory index (UII) remained at the lowest level in the last 15 years. The UII fell sharply from 3.2 months in August 2019 to 2.1 months this August.

-- Housing supply tightened up in all price segments, but the housing shortage is especially pronounced in more affordable markets. While active listings in every price range declined by double-digits on a year-over-year basis, for-sale properties priced below $1 million fell 58 percent from last year. Compared to a year ago, the supply of homes priced between $1 million to $3 million declined 33.1 percent, and homes priced at or above the $3 million benchmark declined 17.2 percent.

-- The median number of days it took to sell a California single-family home was 13 days in August 2020, down from 23 days in August 2019. The August 2020 timeframe compares to 17 days in July 2020, 19 days in June 2020, 17 days in May 2020, 13 days in April 2020, 15 days in March 2020 and 23 days in February 2020.

August 2020 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

-- In San Diego County, the median number of days an existing, single-family home remained unsold on the market was eight days in August 2020, compared to 17 days in August 2019. The August 2020 timeframe compares to 10 days in July 2020, 12 days in June 2020, 11 days in May 2020, eight days in April 2020, 10 days in March 2020, 12 days in February 2020 and 23 days in January 2020.

-- The 30-year, fixed-mortgage interest rate averaged 2.94 percent in August 2020, down from 3.62 percent in August 2019, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 2.91 percent, compared to 3.36 percent in August 2019.

In other recent real estate and economic news, according to news reports:

-- Realtor.com said the number of listings in San Diego County is 43 percent lower than a year ago, according to its report for the week ending Sept. 12. Also, the median listing price is 8.8 percent higher in a year-over-year comparison.

-- CoreLogic said San Diego County’s median home price in August 2020 hit another all-time high of $640,000, up from the previous peak of $634,000 in July 2020. The real estate data reporting firm also said home prices in the county have risen more than 8 percent since March, when the Covid-19 pandemic began, and 9.4 percent since this same time last year.

-- More than 20 percent of Californians say they are bored of where they live and want to move somewhere else, according to a recent survey by Unclutterer.com, a website for home and office organization. The survey also revealed that 36 percent of city dwellers in California now want to move out to the suburbs or the country.

-- Home sales nationwide exceeded 1 million in August 2020, according to the U.S. Census Bureau and Department of Housing and Urban Development. Sales totaled 1,011,000, a 43.2 percent increase since August 2019, 4.8 percent compared to July 2020 and a record high not seen since 2006.

-- The Covid-19 pandemic has aggravated the housing’s market longstanding lack of supply, creating a historic shortage of homes for sale, reports The Wall Street Journal. Many potential home sellers are keeping their homes off the market for pandemic-related reasons. Meanwhile, buyers are accelerating purchase plans or considering homeownership for the first time to get more living space as many Americans anticipate working from home for the long term. The National Association of REALTORS® said there were 1.3 million existing single-family homes for sale at the end of July, the lowest count for any July going back to 1982. For the week ending Sept. 12, Zillow Group Inc. reports the nationwide inventory was down 29.4 percent from a year ago and the lowest level since late 2017.  

Check out the links, video and details below for the facts about the CRMLS Paragon upgrade. 

• CRMLS subscriber's contacts and  saved searches will migrate over to the upgraded version of Paragon. 
• Since the national data standard is different, some searches may need to be edited. 
• CRMLS subscribers see the listing information from the 145,000 agents who share listings right through CRMLS. 
• This upgrade provides agents with service from the biggest and most advanced MLS in the Country.

 

CRMLS is launching a major upgrade to the Paragon system on September 21st. You will get more photos, more listing distribution control, and more input on how your version of Paragon works.

• NO LISTING INPUT or Add/edit Sept 17th until 8 am on Sept 21
• Rules changes
• Better, faster, more features

To help prepare you for the upgrade, CRMLS launched a Paragon Upgrade Resources page full of valuable information on the differences between the old and new systems.

Check out the San Diego Paragon Resources Center here.

While it already contains FAQs and a guide to critical rules differences between systems, it will be expanded to contain even more critical information and action items in the coming weeks.

Pro Tips: 

Other AOR's listing in San Diego: Agents around the state who use CRMLS Matrix will still be listing in San Diego during the upgrade.  Agents who list through CRMLS data-share partners will still be listing in San Diego. 

Absolutely Need to List?: PSAR also is a provider of Matrix for $6.50/month as a second MLS.  Matrix will be still active while the MLS is inactive.  This might be a good time to try it out.

See New Listings: While Paragon is being updated, tools like Homesnap-Pro will continue to be updated and searchable. Agents can see confidential remarks and search new listings from agents listing using systems other than Paragon. 

 

Important Training

Pre-recorded Video, watch or listen here on YouTube.

Live Webinars were hosted on the these days days.

Tuesday 9/8	Tuesday 9/15
9am-10am (Register Here) 1pm-2pm (Register Here)	10am-11am (Register Here 2pm-3pm (Register Here)

Monday 9/14
Broker, Office-Manager, IT & Broker Support Staff Discussion
3pm-4pm (Register Here)

 

Important Dates:

Thursday, September 17 at 12:00pm until Monday, September 21, 8:00 am The CRMLS system Goes into Read Only Mode.  All input locked out, contacts, saved searches available, changes made at this time will not transfer. 

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When the system Goes Live on 9/21, CRMLS will have Live Support via Zoom
CRMLS staff will be live and available to answer your questions in real time.
Please have your name, email and username ready so we can assist you with your questions.
These will be live forums to help you with any issues you may be having, not a presentation.
You can join anytime and leave at your leisure.

Monday, September 21st, 8:30am - 5:00pm (Join Here)

Tuesday, September 22nd, 8:30am - 5:00pm (Join Here)

Wednesday, September 23rd, 8:30am - 5:00pm (Join Here)

Friday, September 25th, 8:30am - 5:00pm (Join Here)

Monday Sep. 28th - Friday Oct. 2nd @ 12:00pm  (Register Here)

Thursday, October 15th, 12:00pm (Join Here)

Monday, October 19th, 2:00pm (Join Here)

Wednesday, October 28th, 2:00pm (Join Here)
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Can't make it to the live training? Here is the Recorded Training.

Also two classes on the Upgraded Paragon Enhancements

Thursday, September 24th, 10:00am - 11:00am (Join Here)

Thursday, September 24th, 2:00pm - 3:00pm (Join Here)

We are upgrading this system to get a faster, more modern MLS engine for your business.  CRMLS and PSAR continue to grow listing inventory, and technology to empower Realtors by providing more tools, more data, wider coverage while protecting Realtor data.  This upgrade furthers PSAR’s mission to empower you. This is one of the reasons that PSAR is the fastest growing Realtor Association in San Diego County.

FAQ will be updated continuously: California Regional Multiple Listing Service

What will and will not carry over: California Regional Multiple Listing Service

Paragon Differences: https://go.crmls.org/paragon-key-differences/

Rules Differences: https://go.crmls.org/san-diego-paragon-vs-crmls-paragon/

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PSAR's Mission is to empower Realtors to flourish while being accountable to
each other,our clients, and our community.

Since 1928, the Pacific Southwest Association of REALTORS® has played a significant role in shaping the history, growth and development of the Real Estate industry in San Diego County. Workshops are open to all REALTORS® and Affiliated Members. This class is free of charge.