The full impact of the coronavirus pandemic was felt in the local and statewide housing market in May, as revealed by the most recent monthly home sales and prices report from the California Association of REALTORS® (C.A.R.).

California home sales in May fell to their lowest level since the 2008 Great Recession with closed escrow sales of existing, single-family detached homes totaling a seasonally adjusted annualized rate of 238,740 units, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.

Statewide, May 2020 home sales were down 13.9 percent from the 277,440 units sold in April, and down 41.4 percent from a year ago, when 407,330 homes were sold in May 2019. Statewide year-to-date home sales are down 12.9 percent, the largest drop since November 2007.

In San Diego county, homes sales in May 2020 were down 14.6 percent, compared to April 2020, and 42.3 percent, compared to May 2019.

San Diego county’s year-over-year decrease of 42.3 percent in home sales in May compares to these Southern California counties: 53.3 percent in Orange, 52.0 percent in Ventura, 47.5 percent in Los Angeles, 43.0 percent in Riverside and 37.6 percent in San Bernardino .

The statewide median home price in May 2020 fell below last year’s price for the first time since February 2012 and breaking the state’s 98-month, year-over-year price-gain streak. The May 2020 statewide median price of $588,070 for existing single-family homes was down 3.0 percent from April 2020’s $606,410 figure and down 3.7 percent from May 2019, when the median price was a revised $610,940.

In San Diego, the median price for a single-family home in San Diego County in May 2020 was $655,000, down 2.4 percent from $671,000 in April 2020, with only a 0.8 percent difference from the $650,000 figure for May 2019.

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

“The sharp sales drop in May was the steepest we’ve seen in some time, but there are encouraging signs that show the market is recovering and should continue to improve over the next few months,” said 2020 C.A.R. President Jeanne Radsick, a second-generation REALTOR® from Bakersfield, Calif. “With pending home sales up a stunning 67 percent in May, buyer demand is on the upswing amid record-low rates that are making monthly mortgage payments $300 less than a year ago.”

“As we predicted, May home sales took the full impact of the coronavirus pandemic as much of the state remained in lockdown during the past few months and caused three straight months of double-digit sales declines, which we haven’t experienced since the Association began reporting monthly home sales in 1979,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “While we expect sales activity to remain below pre-COVID-19 levels, closed sales will improve markedly as the phased reopening of the economy continues and consumers feel more confident returning to the market.”

Reflecting the dramatic change in market conditions, a monthly Google poll conducted by C.A.R. in early June found 40 percent of consumers said it is a good time to sell, up from 29 percent a month ago, but down from 51 percent a year ago. The market uncertainty has not curbed the optimism for homebuying as much; as 32 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 26 percent said it was a good time to buy.

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

•  At the regional level, all major regions dipped in sales by more than 35 percent from last year, with the Bay Area and Central Coast dropping the most at -51.1 percent each, followed by Southern California (-45.6 percent), and the Central Valley (-36.6 percent).

•  Fifty of the 51 counties tracked by C.A.R. experienced a year-over-year loss in sales, with Monterey declining the most from last year at -63.0 percent, followed by Mendocino (-59.7 percent), and San Benito (-59.2 percent). Counties that experienced a sales decline compared to last year averaged a loss of 42.2 percent. Del Norte was the only county with an increase over last year.

•  Median prices continued to dip in May versus last year in the Central Coast and the Bay Area but inched up slightly in the Central Valley region. The median home price was virtually unchanged in Southern California. 

• Thirty-one of the 51 counties tracked by C.A.R. reported a year-over-year price gain in May, with Glenn County leading the way at 31.9 percent. Of the 19 counties that experienced a price drop over last May, Plumas showed the biggest decline at 23.3 percent. 

• The Unsold inventory Index jumped to 4.3 months in May, up from 3.4 months in April and 3.2 months in May 2019. The index calculates the number of months needed sell the supply of homes on the market at the current rate of sales.

• Total active listings continued to decline on an annual basis for the 11th consecutive month; the 34 percent year-over-year decrease in listings was the biggest drop since March 2013.

• All major regions recorded a decrease in housing supply of more than 25 percent, with both the Southern California and the Central Valley regions falling by more than 33 percent. All counties in Southern California, except Ventura, declined 36 percent or more from last year, with San Diego dropping the most at 42.7 percent.

• The median number of days needed sell a California single-family home increased to 17 days in May 2020 compared to 13 days in April 2020 but was lower than the 18 days in May 2019. to the figure in March 2020 was 15 days, with a 23 day figure in February 2020.

• In San Diego County, the median number of days an existing, single-family home remained unsold was 11 days in May 2020, compared to eight days in April 2020, 10 days in March 2020, 12 days in February 2020, 23 days in January 2020 and 14 days in May 2019.

 

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

• The 30-year, fixed-mortgage interest rate averaged 3.23 percent in May, down from 4.07 percent in May 2019, according to Freddie Mac. The five-year, adjustable mortgage interest rate averaged 3.16 percent, compared to 3.65 percent in May 2019.

 

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

• Nationwide sales of new single-family homes in May continued to rebound from a COVID-19-influenced low in April, according to the U.S. Census Bureau and the Department of Housing and Urban Development. Sales of new single-family homes in May were up 12.7 percent in a year-over-year comparison.

• There were fewer bidding wars for homes in May in San Diego. According to Redfin, 49.1 percent of homes for sale drew multiple offers, a decrease from April’s 53.4 percent figure. Nationwide, Redfin found that 49.4 percent of U.S. home offers in May faced competition, compared to 43.9 percent of offers in April. Of the 24 metros in the Redfin analysis, 11 saw a majority of Redfin offers facing competition in May. That's up from eight metros in April.

• CoreLogic said home sales in May had their biggest drop in nearly 30 years because COVID-19 held the market to a crawl. The home sales total of 2,327 in May was 40.7 percent down from the same month last year. It was the biggest drop in home sales since January 1991, when sales were down by 41.5 percent. Despite fewer sales, average home prices were largely unchanged, said CoreLogic.

• Small business owners turned more optimistic in May about an economic rebound and are expecting the coronavirus-induced recession will be short lived. The National Federation of Independent Business said its optimism index rose 3.5 percent in May to 94.4, an increase that was twice the Wall Street forecast.

• San Diego’s economy in dealing with COVID-19 will fare better than that of other parts of California because of a higher number of essential workers. Roughly 67 percent of workers in San Diego County are considered essential and less likely to have suffered furloughs, according to Beacon Economics. That’s a higher percentage than Silicon Valley, Los Angeles and San Francisco.

•  Who says you can't go home again? According to Zillow, about 2.7 million adults moved back home in March and April. Over 32 million adults were living with a parent or grandparent as of April 2020, up 9.7 percent from the same time the year before and is the highest number on record.

• The moving industry could potentially use up to $2.5 billion in revenue because of the coronavirus, according to HireAHelper.com, a moving website. During the 2008 recession, the moving industry lost about 16.5 percent of its revenue. This time around, revenues could decline between 12.2 and 19.9 percent.

The Department of Real Estate (DRE) updated a number of its publications.

• Spring Bulletin
• Fraud Warnings
• New License Applicants
• Loan Modifications
• 2020 REAL ESTATE Law Book

Updates from the Spring 2020 Real Estate Bulletin

• Governor Newsom's Real Estate Commissioner appointee Doug McCauley was appointed on April 2nd.

• Learn about the difference between citations and formal discipline and the programs progress after six years.  How do citations work? How can they be contested?  What happens if the citation has not been satisfied?

• Developers are required to obtain a public report from the DRE prior to marketing homes in a common interest development (CID). Learn more about  Informing the DRE About Material Changes in Subdivision Public Reports.  

• The California Franchise Tax Board also includes an interesting write up about Property Managers and California Withholding. 

• The DRE may audit continuing education records of licensees. When requested applicants need to submit certificates of attendance or certified copies from sponsors of approved offerings as proof of training.  A licensee who fails to provide DRE with course completion certificates, as required, may be subject to a fine or potential disciplinary action.

DRE Flyer for Consumers: Fraud Warnings for California Homeowners in Financial Distress Provides an overview of home loan modifications and where to find free foreclosure avoidance counseling.

 

Instructions to License Applicants Provides information about how to obtain and maintain a California Real Estate License, a Prepaid Rental Listing Service License, and a Mortgage Loan Originator License Endorsement.

 

Loan Modification Self-Help Guide  The DRE has produced a self help guide for individuals to obtain their own loan modification.  Review this step by step guide to doing your own loan modification. 

The 2020 Real Estate Law Book Statutes and regulations with which real estate practitioners should be familiar. It is divided into four parts by subject matter as follows: Real Estate Law and Subdivided Lands Law, Business and Professions Code Sections 10000 through 11288 Regulations of the Real Estate Commissioner, Title 10 of the California Code of Regulations Administrative Procedure Act, Government Code Sections 11500 through 11528 Pertinent Excerpts from the California Codes, Various other code sections applicable to real estate including additional sections of the Business and Professions Code and Government Code.  Please note, the 2020 Real Estate Law does not contain all laws relevant to real estate. The 29 Codes which comprise California law are available in their entirety at the official website for California legislative information.

Fair housing is more than a list of dos and don’ts, rights and penalties and mandatory continuing education. As stewards of the right to own, use and transfer private property, fair housing protects our livelihood and business as REALTORS® and depends on a free, open market that embraces equal opportunity.

Fair housing is not an option, it is the law. The Federal Fair Housing Act prohibits housing discrimination based on race, religion, sex, national origin, disability, and familial status (protected classes). Californians are further protected from discrimination on the basis of age, marital status, genetic information, sexual orientation, sexual identification, AIDS/HIV, medical condition, political activities and affiliation, military or veteran status, and/or being domestic violence survivors.

What are some common unlawful acts of discrimination? They include:

• Refusing to sell a property because of a person’s protected class.
• Restricting loans or targeting higher cost loans to people based on their protected class or the neighborhood where the home is located.
• Falsely denying that housing is available for inspection, sale, or rental.
• Failing to provide reasonable accommodations to a person with a disability.

Fair housing exists in a community when individuals of similar income have the same range of housing choices regardless of race or color, ancestry or national origin, religion, gender, disability, marital or familial status, sexual orientation, or source of income.

The Fair Housing Acts covers most housing. In very limited circumstances, the Act exempts owner-occupied buildings with no more than four units, single-family houses sold or rented by the owner without the use of an agent, and housing operated by religious organizations and private clubs that limit occupancy to members.

REALTORS® recognize the significance of the Fair Housing Act and reconfirm their commitment to upholding fair housing law as well as their commitment to offering equal professional service to all in their search for real property.

The National Association of REALTORS® (NAR) has a “Fair Housing Action Plan” that uses the abbreviation “ACT,” which stands for (A)ccountability, (C)ulture Change and (T)raining. It ensures that America’s 1.4 million REALTORS® are doing everything possible to protect housing rights in America. NAR recommends printing a copy of the “REALTOR® Fair Housing Declaration” and posting it in your office. It can be found here,www.nar.realtor/fair-housing/fair-housing-program/fair-housing-declaration.

The Fair Housing Declaration says:

   I agree to:

• Provide equal professional service without regard to the race, color, religion, gender (sex), disability (handicap), familial status, national origin, sexual orientation or gender identity of any prospective client, customer, or of the residents of any community.
• Keep informed about fair housing law and practices, improving my clients’ and customers’ opportunities and my business.
• Develop advertising that indicates that everyone is welcome and no one is excluded;, expanding my client’s and customer’s opportunities to see, buy, or lease property.
• Inform my clients and customers about their rights and responsibilities under the fair housing laws by providing brochures and other information.
• Document my efforts to provide professional service, which will assist me in becoming a more responsive and successful REALTOR®.
• Refuse to tolerate non-compliance.
• Learn about those who are different from me, and celebrate those differences.
• Take a positive approach to fair housing practices and aspire to follow the spirit as well as the letter of the law.
• Develop and implement fair housing practices for my firm to carry out the spirit of this declaration.

Where and when is Fair Housing discrimination occurring? According to CSA San Diego County, recent examples include:

• A nationwide mortgage lender had systematically charged higher interest rates to Hispanic and African-American borrowers.
• In Virginia Beach, landlords refused to rent to families with three or more children.
• In Connecticut a landlord refused to grant a tenant reasonable accommodation for her assistance dog which helped her with her cerebral palsy, seizure disorder, and depression.

In addition, a three-year investigation by Newsday, a New York newspaper, uncovered widespread evidence of unequal treatment by real estate agents on Long Island, New York. In one of the most concentrated investigations of discrimination by real estate agents in the half century since enactment of America’s landmark fair housing law, Newsday found evidence of widespread separate and unequal treatment of minority potential homebuyers and minority communities on Long Island.

The three-year probe strongly indicates that house hunting in one of the nation’s most segregated suburbs poses substantial risks of discrimination, with black buyers chancing disadvantages almost half the time they enlist brokers. The investigation, published Nov. 17, 2019, involved 25 undercover testers and 93 real estate agents who provided a total of 5,763 listings, as well as 240 hours of secretly-recorded meetings. Unequal treatment was directed toward Asians (19 percent), Hispanics (39 percent), Blacks (49 percent)

Additionally, the investigation reveals that Long Island’s dominant residential brokering firms help solidify racial separations. They frequently directed white customers toward areas with the highest white representations and minority buyers to more integrated neighborhoods. They also avoided business in communities with overwhelmingly minority populations. Fair housing laws bar agents from directing whites to one community and equally qualified blacks, Hispanics or Asians to other places, a practice known as steering.

The newspaper said, “Fair housing standards generally bar agents from talking about the backgrounds of people who live in neighborhoods as a form of verbal racial or ethnic steering. The standards also require agents to provide equal guidance to customers about areas in which they may want to live.

“Agents and brokers bear the responsibility for applying fair housing standards as they act as licensed gatekeepers to housing choices. Industry representatives have contended that proper training is the best way to ensure agents uphold fair housing laws, arguing against more aggressive enforcement through fines, license suspensions or revocations.

“Ultimately, fair housing violations are determined by the courts or enforcement agencies. Authorities may choose to file charges based on egregious conduct in a single case. More generally, they bring legal action after subjecting an agent to several paired tests to establish a pattern and to reduce the likelihood that an agent’s choices were either a fluke or soundly guided by the market at the time.”

The Urban Institute, a nonprofit group, conducted a nationwide study sponsored by the U.S. Department of Housing and Urban Development in 2010. That study involved more than 8,000 tests found real estate agents engaged less frequently than in the past in more explicit forms of discrimination, such as not showing available houses to minority buyers. However, the study also showed that agents placed minority buyers in more integrated neighborhoods at a higher rate than white buyers.

“The issue of discrimination is very subtle,” said Claudia Aranda, a director of field operations for the Urban Institute. “In the absence of treatment that’s more overt, in the absence of particular discriminatory comments, individual home seekers will never have potentially any reason to suspect discrimination.”

For more details about the Newsday study, visit https://projects.newsday.com/long-island/real-estate-agents-investigation.

In order to prevent the appearance of discrimination, CSA San Diego County recommends the following:

• Train all your staff consistently on local, state and federal regulations.
• Standardize your engagement practices.
• Always post the Fair Housing logo prominently on your property.
• Distribute materials and information equally to all interested parties.
• Standardize the process of maintaining wait or interest lists.
• Brief staff daily as to the availability of units.
• Don’t show different units to different prospective applicants.
• Don’t show unclean units to prospective applicants.

PSAR will present a webinar on “Fair Housing Laws and Regulations” from 10 to 11 a.m., Wednesday, July 1. Presenter will be Monica Lopez of CSA San Diego County, a nonprofit that advocates for fair housing and in meditating tenant-landlord issues. CSA services include fair housing counseling, dispute mediation, educational fair housing seminars and rental practice discrimination audits. CSA also is involved with immigrant rights, hate-crime prevention, human trafficking and voter education. The webinar will be presented over the Zoom online meeting platform. Registration information is available at www.psar.org. Zoom membership is not required to participate in the webinar.

The Department of Real Estate (DRE) is canceling real estate salesperson and broker license exams in all exam centers through May 31, 2020. This action is being taken to comply with state and local public health agencies ordering residents to shelter in place to slow the spread of COVID-19.
 
Examinees affected by these cancellations will be allowed to reschedule their canceled exam dates using DRE’s eLicensing system. Exam rescheduling fees will be waived for canceled exams.
 
Examinees with questions or concerns regarding canceled exams can contact DRE’s Licensing program at (877) 373-4542 or by email at Ask.DRELicensing@dre.ca.gov.

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Some Q&A from the DRE website:

If my exam is canceled, how do I reschedule it?
All examinees can reschedule canceled exams using our eLicensing system for free. If you do not have an eLicensing account, you can easily create one on our website.

If the county I live in has issued a shelter in place order, can I reschedule my exam date?
Yes. If the city or county issues a shelter in place order, your exam will be canceled and an email notification will be sent to you. Be sure to check your spam or junk email folders. When an exam is canceled, examinees are placed in a "self-schedule" status on eLicensing, which allows them to reschedule for free.

My real estate license will be expiring soon. What is the best way for me to complete my renewal?
The secure eLicensing online system offers expedited processing of salesperson, broker, and officer license renewals any time or day of the week. eLicensing is easy to use, paperless and interactive. Licensees enter information needed for license renewal into eLicensing, including the course number and completion date of continuing education courses taken. If continuing education is required, then Continuing Education Requirements must be completely satisfied in order to renew through eLicensing. Acceptable methods of payment include VISA, MasterCard, and American Express credit cards or debit cards bearing a VISA or MasterCard logo.

Unfortunately, officers renewing after the license expiration date and all restricted licensees cannot use eLicensing. Those renewal applications must be submitted by mail to the Department of Real Estate, P.O. Box 137003, Sacramento, CA 95813-7003.

Remember, you may use eLicensing or submit your renewal application 90 days prior to your license expiration date. Your renewal is on-time if your eLicensing transaction is completed or your application is postmarked before midnight on your license expiration date. If you submit your renewal on-time, Business and Professions Code Section 10156.2 permits you to continue operating under your existing license after its expiration date unless notified otherwise by the DRE.

How do I complete continuing education for my license renewal when I have been ordered to shelter in place?
Licensees can take continuing education courses by various means, including by correspondence or distance learning. Correspondence courses include courses offered online or by mail. You can search here for a list of continuing education courses that are offered by correspondence.

Please remember that continuing education courses follow strict regulations with regards to the amount of time required to be spent on a course and spacing of the final exams. See Continuing Education Regulations (RE 312) for additional information.

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Today, May 7th, Governor Newsom released updated industry guidance to begin reopening with modifications that reduce risk and establish a safer environment for workers and customers. This guidance includes, among other things, information pertaining to real estate transactions.  Use these guidelines to responsibly plan and reopen for business.

The California Department of Real Estate advises all licensees to review the newly posted "COVID-19 Industry Guidance for Real Estate Transactions" and "COVID-19 General Checklist for Real Estate Transactions" found in the links below.

The Resilience Roadmap is a plan for modifying the statewide stay at home order to gradually reopen. When modifications are advanced and the state’s six indicators show we’ve made enough progress, we can move to the next stage of the roadmap. We are now moving into Stage 2, where some lower-risk workplaces can gradually open with adaptations.

This Guidance for Real Estate Document  provides guidance for businesses operating in the real estate industry including sales and rentals of single-family, multi-family, apartment, commercial, and industrial properties to support a safe, clean environment for workers.

For workplaces and showing property, it contains:

• Specific plan
• Physical distancing
• Cleaning and disinfecting protocols for workplaces

It also has topics for employee training and individual control measures and screening, 

The COVID-19 General Checklist for Real Estate Transactions
This checklist is intended to help people involved in real estate transactions implement their plan to prevent the spread of COVID-19 in the workplace and is supplemental to the Guidance for Real Estate Transactions. This checklist is a summary and contains shorthand for some parts of the guidance; familiarize yourself with the guidance before using this checklist.

By NAR mandate, CRMLS has implemented it's Clear Cooperation Policy.  This policy governs the public marketing of listings and their entry into the multiple listing service. Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants.

After the Seller signs the contract, the Listing Broker has two (2) business days from the listing contract date to enter the listing into the MLS. Within one (1) business day of marketing the property, the Listing Broker must ensure that the listing is in the Coming Soon or Active status.  CRMLS will have a "Coming Soon" status by the end of May 2020.

To learn more about the policy and how it will be implemented, CRMLS General Counsel Ed Zorn recorded this Webinar.

To download the slide deck below follow this link.

CRMLS also has this web page dedicated to Clear Cooperation, BUT the advantages that CRMLS provides are not available now. PSAR will join SDMLS in getting the Coming Soon status at the end of May, the Registered status and Hold status that are part of CRMLS now will be delayed until our migration to the Upgraded Paragon system in August.  They are also currently available for PSAR users who subscribe to Matrix.

 

SACRAMENTO – On April 16, 2020, Governor Gavin Newsom issued Executive Order N-52-20 which, among other things, extends several Department of Real Estate (DRE) statutory deadlines by 60 days.
Highlights of the Executive Order that relate to DRE stakeholders include extending the
following for 60 days:

• time-frames associated with examination application expiration dates
• time-frames associated with license expiration dates
• deadlines related to the payment of license application fees
• deadlines related to the payment of license renewal fees
• deadlines related to completing continuing education requirements for expiring licensees
• deadlines specified in existing Orders issued by the Real Estate Commissioner

DRE understands that right now licensees are focused on keeping themselves and their families safe and healthy during the COVID-19 pandemic. With the signing of this most recent Executive Order providing for extensions of licensing deadlines, licensees can continue focusing on their safety and well-being.
Frequently asked questions about the Executive Order are provided on DRE’s website.

Additionally, DRE published the most recent Consumer Alert titled, “Consumer Alert- Fraud Warnings for California Homeowners in Financial Distress” in Spanish today. The Spanish copy can be accessed on DRE’s website on the Consumer Alerts page.

 

In its latest step to mitigate the challenge of the Covid-19 real estate environment, PSAR has launched a virtual version of its weekly “City Pitch” and “Rally and Ride” property pitch sessions.  REALTOR® members will market and pitch their listed properties in an online setting, along with adding contacts to their network and discussing potential deals.

“PSAR members have been meeting to market property to one another going all the way back to 1928,” said Rich D’Ascoli, PSAR’s Chief Executive Officer. “At this crucial point in time due to Covid-19, the counsel of a REALTOR® is especially critical. REALTORS® need to also engage with one another even more to help their clients buy and sell property. Markets go up and down, but life continues and people need housing.”

“Like any successful REALTOR®, we have altered our approach in a changed environment said D’Ascoli. “The coronavirus has caused your Association to leverage digital tools and other resources to help navigate the changing landscape. We’ve made the necessary pivots and are delivering what our members need from us: calmness, clarity and leadership.”

Prior to the COVID-19 lockdown, three PSAR pitch sessions were held weekly at 9:00 a.m. one each. at PSAR’s three Service Centers: “City Pitch” on Tuesdays at the Clairemont office, “Rally and Ride Too” on Wednesdays at the Chula Vista office and “Rally and Ride” on Thursdays at the El Cajon office. The virtual pitch sessions are now available on the Zoom online meeting platform at the same time on the same days for each event as before.

“In this new normal of social distancing, we all benefit from more interaction in whatever form. So, our virtual pitch sessions offer a “safe place” in which fellow members can meet and share experiences, ideas and tactics for growing business in today’s marketplace.” said D’Ascoli.

“While the number of new listing may have dropped a bit in San Diego County in March in year-over-year comparisons, mortgage rates are low and property is still selling. March saw no drop in sales. I am very proud of our members who experiencing success while taking necessary safety precautions. Our members are still helping their clients meet their needs.”

Tuesday’s virtual “City Pitch” event will focus on properties located in the following zip codes: 92103, 92104, 92108, 92109, 92110, 92111, 92115, 92116, 92117, 92120, 92123, 92124.

Wednesday’s virtual “Rally and Ride Too” event will focus on properties located in the following zip codes: 92135, 92118, 92155, 91932, 92154, 92173, 91910, 91911, 91913, 91914, 91915, 91950, 92139, 91902, 92114.

Thursday’s virtual “Rally and Ride event will focus on properties located in the following zip codes: 91901, 91906, 91942, 91935, 91962, 92019, 92020, 92021, 92040, 92071, 91941, 91977, 91978, 92119, 91945.

Property pitches should be no more than four minutes in length. While a realtor pitches the property, a facilitator will present a Paragon slide show of listing photographs. To request a pitch opportunity, Click Here, or have questions, call 619-421-7811 or 858-286-6080.

Facilitators for the weekly pitch sessions include Jason Lopez and Rafael Perez on Tuesdays, Dennis Ryan on Wednesdays and Sean Hillier on Thursdays.

A new addition to each pitch session will be a virtual Town Hall segment, hosted by Rich D’Ascoli, which runs from 8:45 am until the start of the pitch at 9:00 am. Covid-19 related business updates, information and insights for realtors and brokers and a Q & A forum are included.

All local San Diego County REALTORS® and brokers are invited to join the PSAR “City Pitch” and “Rally and Ride” pitch sessions, including the town hall segment. Zoom membership is not required for participation.

“While the pandemic has given us a jolt, it’s also bringing out the best in us. It’s a horrible thing going on in the world, but it’s a beautiful thing to see people helping others in so many ways,” said D’Ascoli. “So, we’re finding out that staying apart is the best way to stay united. Social distancing works to flatten the curve. A little space makes us all safer together.”

Congratulations to the more than 345 PSAR REALTORs® who have been honored with a PSAR 2020 Real Estate Achievement and Leadership (R.E.A.L.) award!

Award recipients were informed earlier this week about the honor. The PSAR R.E.A.L. awards program recognizes some of San Diego County's top producing agents who achieved excellence in sales production and industry leadership.

The 2020 PSAR R.E.A.L. Awards Committee members include:

Yvonne Cromer Chair
Reshia Guarnotta
Carey Guthrie
Laurie MacDonald
Amber Tannehill
Lupe Soto
Tony Santiago,
Paul Trudel-Payne
James Usrey
Robert Cromer

PSAR staff members assisting the committee include Rich D’Ascoli, Kevin McElroy and Sally Valdez.

An awards dinner where recipients of the inaugural R.E.A.L. awards was scheduled, but later cancelled due to event restrictions imposed as a result of Covid-19.  This was, of course, a disappointment, but the health and safety of all was the primary concern of PSAR leadership.

The names of the R.E.A.L. award recipients are listed in a full-page ad to be published in the San Diego Union-Tribune newspaper. The ad can be viewed by clicking this pdf (Kevin, insert the pdf address here).  Again, congratulations to all of our winners!

Awards are based on either sales volume dollars or units sold, including listings or sales units entered into the MLS, and closed in 2019. Both individuals and teams are eligible. Top 1%, over 31 sides and $26,130,000 in volume, Top 3%, over 19 sides and $13,667,755 in volume, Top 5%, over 14 sides and $9,920,000 in volume, Top 10%, over 9 sides and $6,134,179 in volume.

 

Two weeks ago, the federal economic stimulus package known as the CARES Act was signed into law. Starting this week, Economic Impact Payments - often called "stimulus checks" - will show up in some Americans' bank accounts.

 

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Who is eligible for the Economic Impact Payment?
How do I get a stimulus check from the IRS if I did not file a tax return in 2018 or 2019?
What if I receive Social Security payments (65 years +) or social security disability payments?
When will my check be delivered?

 

Who is eligible for the Economic Impact Payment?

U.S. citizens or resident aliens who:

• Have a valid Social Security number,
• Could not be claimed as a dependent of another taxpayer, and
• Had adjusted gross income under certain limits.

Most eligible U.S. taxpayers will automatically receive their Economic Impact Payments without having to take any extra steps, including:

• Individuals who filed a federal income tax for 2018 or 2019
• Individuals who receive Social Security retirement, disability (SSDI), or survivor benefits
• Individuals who receive Railroad Retirement benefits

 

How do I get a stimulus check from the IRS if I did not file a tax return in 2018 or 2019?

The IRS has launched a new we portal for people who did not file tax returns in 2018 or 2019 but are eligible for stimulus checks. This new web portal is easy to use, safe, secure, and free. Individuals who did not file tax returns in 2018 or 2019 should use this tool, including:

• People who did not make enough money to require filing. This may include single filers who made under $12,200 and married couples making less than $24,400 in 2019.
• People receiving veterans beneficiary payments and Supplemental Security Income (SSI) payments.

 

What if I receive Social Security payments (65 years +) or social security disability payments?

You do not need to file a tax return to receive stimulus money. According to the IRS, you will automatically receive $1,200 Economic Impact Payments. However, you may want to file a tax return if you have qualifying children under 17 years of age. In that case, you may receive up to $500 per child.

What will I need to file?

• Full name, current mailing address and an email address
• Date of birth and valid Social Security number
• Bank account number, type and routing number, if you have one
• An Identity Protection Personal Identification Number (IP PIN) if you received from the IRS earlier this year.  
• Driver's license or state-issued ID, if you have one.
• For each qualifying child: name, Social Security number or Adoption Taxpayer Identification Number and their relationship to you or your spouse

 

When will my check be delivered?

The IRS is sending out direct deposits and paper checks starting with the lowest income earners. The IRS began depositing money on April 9. If you received prior tax refunds via direct deposit, funds will likely be automatically deposited into your bank account. The IRS will begin sending paper stimulus checks on April 24, 2020. The plan is to send paper stimulus checks to taxpayers with the lowest adjusted gross income first. Therefore, taxpayers who earned less than $10,000 will receive a paper check first.

On Friday, April 17, the IRS will release a new tool for tracking your payment status online and confirming whether your payment type will be direct deposit or check.