A few Key Videos To Get Paragon MLS working right

Posted by PSAR Communication on Dec 10, 2020 1:50:50 PM

Step-by-Step Paragon Instructional Videos

We now have available the PSAR Paragon Upgrade videos produced by Rickey at CRMLS.  They are located below. These videos will walk you through the most important steps in setting up and using various CRMLS Paragon features. The Paragon Upgrade Resources page, hosted by CRMLS, also is loaded with information that will help you better perform day to day tasks as well as grow your business.

Issues?  CRMLS will address individual concerns via customer support.  Please call or submit a trouble ticket if you experience  feature or function difficulties.  Submitting a ticket could surface a widespread problem and result in the resolution of it for all users.

Updating the Preference Wizard Will Fix Many Issues

 

Updating The Collab Center Preferences Wizard

 

Updating The CRMLS CMA Preference Wizard

 

Setting Up The Market Monitor

 

Results Options and Custom Exports

 

How To Edit A Saved Search

 

Creating A Custom Search Template

 

Check out our PSAR YouTube channel for more videos.

Topics: CRMLS, Technology

Renew Membership for a chance to Win an iPad Pro

Posted by Richard D'Ascoli on Dec 8, 2020 10:49:35 AM

Pay Dues and win an iPad Pro
Win an iPad Pro & avoid additional fees by simply paying 2021 REALTOR® dues on time by December 31st, 2020**.

  • All current active members on the PSAR monthly payment plan for 2021 qualify!
  • Those on autopay for annual dues will also be entered to win!

Watch the drawing on the Thursday, January 14th Rally and Ride Pitch Session at 9:00am. We will also be streaming on PSAR's Facebook Group!  Members do not need to be present to win.

To watch on Facebook, join the new NEW Private PSAR Facebook Group in advance.


Sponsored by:
Rancho Ted - Private Money Lending
*Note:
• REALTOR® Dues are not MLS fees
• MLS fees and key fees are billed separately and are not considered for this promotion


**Payments can be made on the PSAR Portal, or by calling one of our three offices - South: 619-421-7811, Central: 858-286-6080, East: 619-579-0333.
________________________________

PSAR members have access to the most data, most coverage and most tools in San Diego County.
Our annual fees are also the LOWEST.
We value our members and strive to show it every day.


Topics: Brokers/Managers, PSAR Benefits

PSAR COMMENTS ON DOJ, NAR SETTLEMENT ON ALLEGED ANTITRUST VIOLATIONS

Posted by Rick Griffin on Dec 4, 2020 4:01:46 PM

Department of Justice News

You may have seen the recent headlines about the U.S. Department of Justice (DOJ) having filed an antitrust lawsuit alleging the National Association of REALTORS® (NAR) maintained illegal, anticompetitive restraints on REALTOR® competition, including business practices and policies that prohibited multiple-listing services from disclosing commissions for buyers’ agents to prospective buyers.

The Justice Department accused NAR, the real estate industry’s largest trade group with more than 1.4 million members and 1,400 local associations, with restraining free trade under the Sherman Act, thus creating an environment in which there was little visibility for homebuyers to learn about the commission a buyer’s agent would earn.

This announced action sounds alarming.

However, with a look past the headlines, you will see that the current settlement between the DOJ and NAR, which was announced at the same time as the antitrust complaint filing, means that future outcomes are expected to trend positive for our real estate profession.

According to NAR, who maintained that there was no wrongdoing committed, the settlement requires the following changes in the way in which REALTORS® compete:

 #1. Public display of buyer broker compensation.
“The amount of compensation offered to a buyer’s agent for each MLS listing will be made publicly available. Publicly accessible MLS data feeds will include offers of compensation, and buyers' agents will have an affirmative obligation to provide such information to their clients for homes of interest.”

#2. Consumer access to all properties that fit their criteria.
“MLSs and brokerages, as always, must provide consumers all properties that fit their criteria regardless of compensation offered or the name of the listing brokerage.”

#3. Forbidding buyers’ agents from representing services as “free.”
“While NAR has long encouraged buyers' agents to explain how they expect to be paid, typically through offers of cooperative compensation from sellers' agents, there will be a rule that more definitively states that buyers' agents cannot represent that their services are free to clients.”

#4. Lockboxes and licensed agents.
“With the seller's prior approval, a licensed real estate agent will have access to the lockboxes of properties listed on an MLS even if the agent does not subscribe to the MLS.”

“For the most part, these changes more explicitly state what already is in the spirit and intent of the NAR Code of Ethics and MLS policies regarding providing information about commissions and MLS participation,” said Robert Cromer, 2020 PSAR President. “PSAR has long sought to ensure fairness, transparency and a competitive real estate market for home buyers and sellers. We have always been committed to an MLS system that puts consumers first and benefits homebuyers, sellers and brokerages.”

According to a statement from Makan Delrahim, Assistant Attorney General of the Justice Department’s Antitrust Division, “Buying a home is one of life’s biggest and most important financial decisions. Home buyers and sellers should be aware of all the broker fees they are paying. Today’s settlement prevents traditional brokers from impeding competition, including by internet-based methods of home buying and selling, by providing greater transparency to consumers about broker fees. This will increase price competition among brokers and lead to better quality of services for American home buyers and sellers.”

The California Regional Multiple Listing Service (CRMLS) said in a statement, “CRMLS plans to fully comply with the terms of this government-mandated agreement, once finalized. Visit www.go.CRMLS.org/NewRules to keep up to date on how CRMLS will implement these rules.”

Inman News Service posted recent news articles covering possible disruptive consequences from the DOJ lawsuit and proposed settlement. These consequences include:

-- Commissions may be squeezed since consumers will have more visibility into options when choosing which real estate brokerage or agent with whom to work.

-- MLSs can no longer hide commission rates.

-- REALTORS® will not be allowed to set a filter in the MLS for homes for potential buyers based on commission levels.

-- Buyers’ agents cannot make misrepresented statements, for example, “My services are free” (because they aren’t free if the seller pays the commission).

-- A licensed agent cannot be denied lockbox access on the basis of not being an MLS member.

The DOJ-NAR settlement is not yet final as the DOJ is still receiving public input. A DOJ statement said comments regarding the proposed final judgment may be submitted to Chief, Office of Decree Enforcement and Compliance, Antitrust Division, U.S. Department of Justice, 950 Pennsylvania Ave., N.W., Washington, D.C., 20530. The DOJ also stated, “At the conclusion of the 60-day comment period, the court may enter the proposed final judgment upon a finding that it serves the public interest.”

Topics: Brokers/Managers, Market Information

zillow the brokerage?

Posted by Richard D'Ascoli on Nov 30, 2020 5:13:22 PM

Zillow appears to be in the process of becoming a REALTOR brokerage. The story has been evolving during 2020.  As Zillow transitions from being a listing distribution or advertising platform to a REALTOR (member of NAR, CAR and also some local local Associations,) they will receive the same rights and benefits as other brokerages.

Among these rights is the right to access IDX (Internet Data Exchange) feeds.  

Today, Zillow receives listing data from brokers instructing CRMLS to provide their listing information through a specifically tailored listing distribution feed called a syndication feed. Once Zillow becomes a brokerage in the CRMLS area, they will access listings through the same feeds that brokers receive on their web pages today.

What could this change mean for agents and brokers?

Listing distribution control changes: 
The CRMLS system currently permits brokers to control which listing distribution partners receive their listings, including Realtor.com, Homes.com, Apartments.com, and Zillow. Those options will soon change. As Zillow will be a participating brokerage instead of a listing distribution partner, brokers will not be able to specifically exclude Zillow from receiving their listings. 

Changes to how listings display on Zillow
Because of the switch to IDX feeds, listing data will display on Zillow differently than it does today. Full details are still forthcoming. CRMLS shared, however, that their IDX licensing agreement does not permit advertising in the way you may be used to on Zillow.  Zillow will update its current listing displays to comply with CRMLS IDX standards, the same as any brokerage that uses that same IDX listing data feed. IDX rules can be found in section 12.16 of the CRMLS Rules and Regulations.

Changes to rental listing search on Zillow
You may have heard rumors that Zillow plans to start charging fees for rental listings. (In fact, per Zillow, Zillow has charged fees for rental listings for “about a year,” except for MLS-sourced listings.) As outlined above, Zillow is also moving to IDX feeds. It’s reasonable to wonder how these two things can coexist.

CRMLS reached out to Zillow and confirmed that Zillow will no longer combine rental and for-sale properties in the same search. In other words, their IDX feed for MLS-sourced for sale listings will not comingle with their feeds for rental listings.

Per Zillow, “None of the fees… will be implemented until Jan 2021 and will not be on any listings under [Zillow’s] current syndication license.”

Zillow continued: “Under IDX, [Zillow] will not be pulling or displaying any [rental] listings under the IDX license. The rentals search will be a completely separate search experience on the site.”

CRMLS and Zillow

Topics: Brokers/Managers, CRMLS, Market Information, Technology, Industry

PREDICTIONS FOR 2021 HOUSING MARKET

Posted by Rick Griffin on Nov 27, 2020 3:00:00 PM

2021 Housing Market

2020 has certainly been an unusual and turbulent year complete with some major challenges. Life was dramatically upended early on with the pandemic, economic lockdowns, homeschooling, politics and natural disasters. These and more unsettling events in 2020 hit many people hard, leaving them with a sense of chaos, stress and uncertainty.

With that as a backdrop, heading in to 2021 what can real estate professionals expect? Economist Steven Thomas, publisher of “Reports on Housing,” a newsletter covering the regional real estate market, recently delivered his 2021 Southern California Housing Market Forecast to PSAR members.

Thomas, with a degree in Quantitative Economics and Decision Sciences from the University of California San Diego, is a California real estate broker with decades of real estate experience. He has been quoted in news stories published by the Orange County Register, Los Angeles Times, San Diego Union-Tribune, The Wall Street Journal, Fortune, USA Today, Bloomberg, ABC, CBS and NBC television, Cox Cable Television, KNX AM-1070 News Radio, KFI AM-640 Radio, blogs and Internet news sites. 
Steven Thomas Reports On
Thomas noted how quickly the economy rebounded following the Covid-caused economic shutdowns that began in March 2020. Thomas observed that the 2020 housing market is ending the year in much better shape than anyone expected.

Thomas commented that in 2020, it only took four months before the unemployment rate reached 9 percent month By comparison, the amount of time needed to reach 9 percent unemployment was 19 months during the 1980s oil recession, 30 months during the Great Recession (December 2007 to June 2009) and 108 months during the Great Depression (August 1929 to March 1933).

The U.S. 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, grew at a 33.1 percent annualized rate. That’s the fastest growth ever for the U.S. economy and is all the more remarkable as it follows the worst quarter in history when the economy plunged 31.4 percent. The previous GNP quarterly growth record of 16.7 percent was set following World War II in the first quarter of 1950.

Thomas believes that in 2021, the California housing market will continue to rebound from this year’s economic shock, thanks to rock-bottom mortgage rates, a rebounding GNP and strong homeownership demand. As a result of these factors, financially eligible buyers will be motivated to enter the market.

Based on November 2020 statistics, Thomas said buyer demand in San Diego County was at its strongest level since 2012.

Steven Thomas

Thomas illustrated buyer demand with this imaginary conversation:

-- Potential buyer: “Hi, I’m looking to buy a house. How’s the market?”
-- REALTOR®: “Remember back in May when you were looking for toilet paper? Yeah, just like that.”

However, Thomas said that the most likely scenario is that the lingering uncertainty about the economy, a volatile stock market and a shortage of homes for sale will keep the 2021 housing market in check and prevent the overall economy from returning to full strength. That model also assumes no major resurgence of Covid cases next year.

While the beginning of the year might be slow for some REALTORS®, housing market conditions will show a steady improvement throughout 2021. Thomas expects a steady, if not spectacular, rise in home prices and sales.

Thomas believes housing inventory levels and prices will appreciate 4 to 6 percent in 2021. Closed sales in 2021 will be higher by 4 percent to 8 percent, compared with 2020.

He also predicts a slight increase in the number of distressed properties, but not a wave of foreclosures. The 2021 market will herald the return of sellers who have unrealistic expectations and overprice their homes.

According to Thomas, traditional home buying and selling seasons, prevalent in past decades, may be changed forever because of the market effects of Covid-19. The normal Fall cool down occurs as students return to school. However, start-of-school market timelines are no longer applicable with delayed reopening of in-person school attendance. As a result, sellers will continue to receive top dollar for their homes outside the prime selling season in 2021. Homes will continue to sell quickly and buyer demand will not taper-off in the foreseeable future.

Thomas said current expected market time levels in San Diego County are at their lowest since 2013.

He said recent statistics show the median number of days an existing, single-family home remains unsold on the market varies throughout San Diego County: Chula Vista, 12; La Mesa, 17; Lemon Grove, 19; El Cajon, 27; National City, 27; Bonita, 30; Downtown, 132; Coronado, 143. He also said lower-priced homes are selling faster (28 days under $500K), compared to higher priced homes (100 days for $2M-$4M). Existing houses make up about two-thirds of all home sales.

He said available inventory of higher-priced, move-up homes will improve slightly, aided by a growing number of move-up sellers in 2021. Luxury home sales will thrive next year in spring and summer, then slow during the latter third of the year.

Thomas also predicted that monthly interest rates on typical 30-year home loans will average between 2.75 percent and 3.5 percent

Thomas offers a “Reports on Housing” monthly subscription for $15 per month or $150 per year. The regional report tracks regional demand, inventory, distressed homes and other market data. It also shares what buyers, sellers and real estate professionals are experiencing in the trenches. One month free is available upon sign-up.

Steven Thomas can be followed on YouTube, visit www.Youtube.com/ReportsOnHousing
Facebook at @reportsOnHousing.
For more information, visit 
www.reportsonhousing.com.

Topics: Brokers/Managers, Market Information

HOME SALES, PRICES REMAIN ELEVATED IN OCTOBER

Posted by Rick Griffin on Nov 20, 2020 4:22:17 PM

SAN DIEGO HOME SALES IN OCTOBER 2020

Fall is the new spring for the California’s housing market as record-low mortgage rates, skyrocketing buyer demand and shrinking inventory are making this fall season resemble a typical, active springtime for homebuyers and sellers. In October 2020, home sales and prices recorded double-digit increases compared to a year ago, according to the most recently monthly report from the California Association of REALTORS® (C.A.R.).

C.A.R. said California’s homebuying season is extending into the fall as home sales and prices remained elevated in October. Continued record low mortgage interest rates sustained the housing market in October as home sales and prices took a breather from September’s record high levels.

October’s sales total climbed above the 400,000 level for the fourth straight month since the Covid-19 crisis depressed the housing market earlier this year and was just 15,000 units shy of the 500,000 benchmark. Existing, single-family home sales totaled 484,510 in October 2020 on a seasonally adjusted annualized rate. October 2020 sales dipped 1.0 percent from 489,590 in September 2020 but were up 19.9 percent from a year ago, when 404,240 homes were sold on an annualized basis.

In San Diego County, October 2020 home sales decreased 7.1 percent compared to September 2020, but increased 21.2 percent higher than in October 2019.

After setting new record highs for four straight months, California’s home median price dipped on a month-to-month basis for the first time in five months. The statewide median price stayed essentially flat in October 2020, slipping 0.2 percent to $711,300 from September 2020’s record high of $712,430.  However, the year-over-year growth rate continued to increase by double-digits for the third consecutive month and was the second highest gain since February 2014. There was a 17.5 percent difference between October 2020’s median price of $711,300 and October 2019’s median price of $605,280. October 2020’s median price also was higher than the six-month average of 6.8 percent observed between April 2020 and September 2020. 

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

In San Diego County, the median price for a single-family home in October 2020 was $749,000, a 1.9 percent increase from $735,000 in September 2020, and a 14.9 percent leap than the $652,000 figure in October 2019.

The coronavirus pandemic has heightened the desire for more spacious, multi-functional homes as more people have been forced to homebound distance learning for school and working remotely for the job.

Normally, the housing market experiences a cool-down in the fall as students return to school. However, timelines that normally revolve around the start of the school year are no longer applicable. That dynamic has changed with Covid delaying the reopening of schools for in-person learning.

As a result, sellers are continuing to receive top dollar for their homes outside the prime selling season. Homes are selling quickly and buyer demand shows no signs of tapering off anytime soon.

“California’s housing market continues to exceed expectations as this year’s traditional homebuying season has shifted into late summer and fall instead of spring and early summer,”  said 2021 C.A.R. President Dave Walsh, vice president and manager of the Compass San Jose office. “The market is unseasonably strong, as motivated buyers continue to take advantage of the lowest interest rates in history. The ongoing momentum will keep home sales elevated for the next couple of months, and the housing market will remain a rare bright spot in a struggling economy.”

“An extremely favorable lending environment and a renewed attitude towards homeownership is prolonging the homebuying season and extending the market’s V-shaped recovery to the off season,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “The question that remains to be answered, however, is whether the strong market is sustainable in the longer term as market fundamentals continue to be tested by tight supply, eroding housing affordability, and most of all, the rising number of Coronavirus cases.”

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 November, the poll found that 59 percent of consumers said it is a good time to sell, up from 56 percent a month ago, and up from 47 percent a year ago. Meanwhile, low interest rates continue to fuel the optimism for homebuying; 31 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 24 percent said it was a good time to buy a home.

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

-- At the regional level, sales increased in October 2020 in all major regions compared to last year with growth rates of more than 10 percent, except in the Central Valley, which grew by 9.9 percent from a year ago.

-- Sales in resort communities remained robust in October 2020. Housing demand in Big Bear, including Big Bear City and Big Bear Lake, continued to surge with sales growing 125.6 percent from last October. Lake Arrowhead and South Lake Tahoe both recorded strong sales in October, with year-over-year growth rates of 47.7 percent and 29.1 percent, respectively. Sales in Mammoth Lakes also jumped in the latest month with a gain of 55.6 percent from last October.

-- At the regional level, all major regions posted double-digit, year-over-year median price increases. The Central Coast led the pack again with an increase of 25.9 percent, as high-end home sales in Santa Barbara and Monterey continued to surge. The San Francisco Bay Area had the second largest price increase of 17 percent, followed by Southern California (15.4 percent), the Central Valley (14.7 percent), and the Far North (12.8 percent).

-- With active listings dipping slightly from the prior month, while the momentum of sales continued to push forward into the traditionally off-season months, the Unsold Inventory Index (UII) in October was unchanged from September, when it reached the lowest level in nearly 16 years. The UII fell sharply from 3.0 months in October 2019 to 2.0 months this October.

-- The unsold inventory of available homes for sale in October 2020 in California remained unchanged at 2.0 months, compared to September 2020, when it reached the lowest level in nearly 16 years since November 2004. Statewide inventory in October 2019 was 3.0 months.

-- In San Diego County, the inventory of available of homes for sale in October 2020 was 1.8 months, compared to 1.7 months in September 2020 and 2.8 months in October 2019. Inventory levels in months refers to the number it would take for the current inventory of homes on the market to sell-out given the current sales pace.

-- Active listings continued to decline significantly in October 2020, with most regions declining more than 40 percent from last year. The Central Valley had the biggest year-over-year drop of 49.6 percent in October, followed by Southern California (-46.6 percent), the Central Coast (-46.5 percent), the Far North (-40.9 percent), and the San Francisco Bay Area (-23.8 percent).

-- The median number of days it took to sell a California single-family home was 10 days in October 2020, compared to 11 days in September 2020 and 24 days in October 2019. The October 2020 figure was the lowest ever recorded.

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

October 2020 County Unsold Inventory and Days on Market-- In San Diego County, the median number of days an existing, single-family home remained unsold on the market was seven days in October 2020, which the same number in September 2020. However, the timeframe was 18 days a year ago in October 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 2.83 percent in October, down from 3.69 percent in October 2019, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 2.89 percent, compared to 3.38 percent in October 2019.

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

-- CoreLogic said San Diego County median home price in October remained unchanged from September at $650,000, which is 13 percent higher than a year ago. It was the first time for no monthly price increase since May. The price represents all homes, including single-family, condos and townhomes.

-- San Diegans searching for out-of-state homes for sale on Redfin are most frequently looking at lower-cost cities Phoenix and Las Vegas, along with areas in Riverside County. The homebuying website said 24.3 percent of searches originating from metropolitan San Diego in the 2020 third quarter included out-of-town communities, compared to 18.8 percent the same time last year. The most active metro area people were looking to leave was New York City at 35.8 percent.

-- Redfin also reports that San Diego had the second highest number of multiple offers on homes for sale in the U.S. in October, with 73.2 percent of Redfin homes in a bidding war, second only to Salt Lake City’s 75 percent. Nationwide, 56.8 percent of Redfin offers on home faced competition from at least two prospective buyers.

-- Zillow says homes are remaining unsold on the market for 12 days, which is 17 days less than last year. Also, sales listings in San Diego County are about 34 percent lower than a year ago.

-- The percentage of would-by homebuyers who could afford to purchase the $729,000 median-priced, existing single-family home in the 2020 third quarter in San Diego County was at 27 percent, compared to 30 percent in the 2020 2Q and 29 percent in the 2019 3Q, according to housing affordability index (HAI) statistics from the California Association of REALTORS®. Statewide, the HAI percentage of all California households that could afford to purchase the $693,680 median-priced, single-family home in 2020 3Q was 28 percent, which was the lowest in nearly two years.

-- Every metro area tracked by the National Association of REALTORS® (NAR) experienced annual home price increases in the 2020 third quarter, which was attributed in large part to record-low mortgage rates and depleted nationwide housing inventory. NAR said eight of America’s 10 most expensive metro areas were located in the West, led by San Jose ($1.4 million for a median-priced, single-family home), San Francisco ($1.125 million) and Anaheim, ($910,000). San Diego had the fifth highest median price for a single-family home in the U.S. at $729,000, according to NAR.

Topics: Brokers/Managers, Market Information

PSAR REVITALIZES LA MESA RIOT PLOT

Posted by Rick Griffin on Nov 6, 2020 4:30:00 PM

la Mesa Community Rebuilding Grant Project

A group of PSAR members gathered on Friday, October 23rd, 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.

La Mesa Revitalization with PSAR

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.

PSAR Replanting La Mesa

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.

President Robert Cromer and

 “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. 

Deirdre Bramberg

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

Topics: Events, Leadership

RECORD-BREAKING HOUSING MARKET OUTPERFORMS EXPECTATIONS

Posted by Rick Griffin on Oct 30, 2020 4:32:08 PM

SAN DIEGO HOME SALES IN JULY 2020

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)
blog_201031_chart1

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)
blog_201031_chart2-1

-- 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.

Topics: Brokers/Managers, Market Information

New Agent/Client Preferred Reports You can Choose to Use.

Posted by PSAR Communication on Oct 29, 2020 8:26:59 PM

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.

Agent Preferred 2 cuts text off

 

The Agent Preferred 1, it looks like this.

Agent Preferred 1 not cut off

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.

Preferences Wizard Select

 

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.

Wizard page 7

 

Topics: CRMLS

Showing Coming Soon Listings Will Result in Fines Starting Nov 1.

Posted by PSAR Communication on Oct 28, 2020 2:15:00 PM

Coming Soon FinesThe 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:

 

Topics: CRMLS