Below is a list of news and resource updates for the COVID-19 pandemic and Shelter in Placer order.
M.C.A.R. Updates and Resources
CDC and local mandates still apply. Please click the link above and read the newsletter.
Includes changes to:
- Public Remarks
- Showing Requirement
- No Marketing While Withdrawn
- 1 Photo in 1 Day
C.A.R. Updates and Resources
COVID Relief Hotline: (213) 351-8450, Monday-Friday, 8:30 a.m. – 4:45 p.m.
April 16: C.A.R. releases three new and four updated forms for use during the coronavirus pandemic
The following are new forms:
- Coronavirus Lease/Rental Addendum or Amendment (Form CVA-LR), which can be attached to a lease agreement and creates a contractual agreement if the initial possession in the lease is affected by an unforeseen circumstance.
- Notice of Unforeseen Lease/Rental Coronavirus Circumstance (Form NUCC-LR), which is to be used when the CVA-LR is part of the lease agreement and one party has an unforeseen circumstance that impacts the ability to perform under the purchase agreement.
- Coronavirus Lease/Rental Property Entry Advisory and Declaration (PEAD-LR), is used for any visitor who is entering a property with a tenant or occupant, or when it is related to property management.
The following are forms that have been updated — if you have been using one of the following forms, be sure you switch to the updated version:
- Coronavirus Addendum or Amendment (Form CVA)
- Notice of Unforeseen Coronavirus Circumstance (Form NUCC)
- Listing Agreement Coronavirus Addendum or Amendment (Form RLA-CAA)
- Coronavirus Property Entry Advisory and Declaration (Form PEAD)
You can access all these forms here. The updated forms are set to go live in zipForm® on Friday, and the new forms will be available in zipForm® on Monday.
March 27 Important Update:
C.A.R. FINANCIAL RELIEF FOR REALTORS® Page
The Coronavirus Aid, Relief and Economic Security (CARES) Act has been signed into law; vital relief for REALTORS® is on the way. C.A.R. worked with N.A.R. to ensure these REALTOR®-supporting provisions remained in the final bill:
- Forgivable Small Business Administration Loans – Under the CARES Act, self-employed independent contractors may qualify for forgivable SBA loans. Under this program, borrowers who take out 7(a) SBA loans between Feb. 15, 2020, and June 30, 2020 to cover payroll costs, mortgage interest, rents, and utility costs during the covered period may be forgiven. C.A.R. urged Congress to include this provision; as independent contractors, REALTORS® do not have access to the safety net of unemployment benefits afforded to millions during this crisis.
- Direct Payments to REALTORS® – Like many Americans, REALTORS® and their families with adjusted gross annual incomes of up to $75,000 will receive a rebate check of $1,200 ($2,400 for married couples with gross annual incomes up to $150,000). An additional $500 may be given per child in the household. This rebate amount decreases for incomes above those amounts and is completely phased out for individual incomes exceeding $99,000 ($198,000 married). These payments are expected to start going out in April.
- Pandemic Unemployment Assistance – REALTORS® who are not otherwise eligible for unemployment insurance, such as independent contractors, will be able to obtain unemployment assistance for up to 39 weeks if they were negatively impacted as a result of COVID-19 between Jan. 27- Dec. 31, 2020.
For more information on how to access benefits included in the CARES Act, see our FAQs on Financial Resources for REALTORS® and Financial Resources for Brokers. We will continue to keep you updated as more information becomes available.
March 26 Important Update:
Please read about important C.A.R. policy updates and member resources.
- Relief for REALTORS® as Independent Contractors
- Updates on Online Notary services and Real Estate as an Essential Service
- Resources for Members, Legal and Transaction Rescue Hotlines
March 25 Important Update:
Please click the following link for the most up-to-date information from C.A.R. on Covid-19. This is a very clear Q&A document that addresses what is and is not permissible as REALTORS® during the Shelter In Place Order. It also provides some great resources and links including SBA loans for REALTORS®.
- Around the State: REALTORS® should conduct as much business as possible virtually
- The Market: C.A.R. currently forecasts home sales to decline in high single digits in 2020
- The Economy & Your Finances: Aid is on the way
- Health Check-Up: Covered California extends special enrollment period
N.A.R. Updates and Resources
March 26: NAR Wins Major Provisions for REALTORS®
U.S. Senate passed a $2 trillion COVID-19 economic relief package.