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  • December 06, 2021 16:39 | Bryan Baldres (Administrator)

    The Federal Housing Finance Agency (FHFA) has announced that the base conforming loan limit will increase from $548,250 to $647,200 in January 2022. Due to the loan limit increase, the new high balance limit will also increase to $970,800 (150 percent of $822,375) for one-unit properties in the contiguous U.S.

    Reverse mortgages will also have a national increase in maximum claim of $970,000 -- effective 1/1/2022.

    Refer to FHFA Press Release.

    Note: The loan limit change made in November was a conservative approach to help you be more successful in a competitive market, we will align to follow the FHFA’s announcement.

  • November 08, 2021 16:13 | Bryan Baldres (Administrator)

    As was widely expected, the Fed voted unanimously to keep its target interest rates unchanged, but to begin the process of slowing/tapering its monthly asset purchases.

    After growing its balance sheet from $4.1t to $8.4t since the onset of the pandemic, the Fed announced that it will begin slowing its $120bln in monthly purchases by $15bln per month, beginning this month. Monthly Treasury purchases will initially be slowed from $80bln to $70bln and MBS purchases from $40bln to $35bln.

    In December, purchases will then be slowed to $60bln and $30bln, respectively. If the $15bln per month taper continues in that fashion, purchases will conclude in June 2022 with the balance sheet at $8.8t. The Official Statement provides policymakers with flexibility, noting that the Committee "is prepared to adjust the pace of purchases if warranted by changes in the economic outlook."

    The persistence of higher-than-expected inflation led officials to provide a slightly less certain inflation assessment in the Official Statement. The previous Statement noted that "Inflation is elevated, largely reflecting transitory factors." This was changed to say, "Inflation is elevated, largely reflecting factors that are expected to be transitory" (emphasis added). However, while the Committee is less certain, they continue to believe it will prove transitory.

    As it relates to the supply chain challenges, the Statement notes that "an easing of supply chain constraints [is] expected to support continued gains in economic activity."

    With the taper process now announced, attention will turn to when the first rate hike may occur and how much the Fed will be able to raise its target interest rates. Fed Funds Futures currently project greater than a 50/50 chance of the first rate hike occurring by mid-2022



  • January 06, 2021 09:59 | San Diego Realtist for Democracy in Housing (Administrator)

    HAPPY NEW YEAR REALTISTS!

    As we enthusiastically welcome in 2021, we are pleased to announce the election of Lydia Pope as NAREB's president-elect and speaker pro-tem. Her installation as president will take place during NAREB's 74th National Convention later in the year, but she will be actively involved in NAREB's operations and programs to increase Black Wealth Through Homeownership. 


    #NAREB | #REALTIST | #NAREBADVOCACY2020

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  • December 29, 2020 20:14 | San Diego Realtist for Democracy in Housing (Administrator)
    SDAR_RealEstate_Connections_v4-1

    Dear Member,
    Real Estate Connections is the local source for REALTORS®, and home buyers and sellers. Stay up to date on the latest news relating to our market and industry with information to help you navigate and sustain your business during the COVID-19 health crisis.

    Direct Payments & Unemployment Extension in Approved Relief Bill

    This past weekend President Trump signed the $900 billion stimulus bill into law that will provide direct payments to Americans, additional unemployment benefits, and funding for housing providers and small businesses, including REALTORS®. Among provisions advocated by C.A.R., the bill allows individuals to receive unemployment benefits for up to 50 weeks, through March 13, 2021 in California.

    It also provides an additional $300 per week in federal employment benefits for individuals receiving Pandemic Unemployment Assistance (PUA) and traditional unemployment for 11 weeks. In addition, the bill further expands the Paycheck Protection Program (PPP) by allowing certain eligible businesses to receive a second PPP loan of up to $2 million.  Read more.

    Stimulus Help

    Due This Thursday! Submit Your Name for the Awards of Excellence

    The application deadline is THIS THURSDAY, December 31 for  the prestigious Awards of Excellence, honoring members in categories including REALTOR® of the Year, Broker of the Year, Rookie of the Year, and more. You may also qualify in our categories for Recognition of Excellence -- applications due Jan. 31 -- which are based on production and sales volume during 2020. All of the winners and honorees in the Circle of Excellence will be announced in 2021. Find out how you can get noticed!

    The Next "Scoop" Will Get You Motivated to Have a Great New Year

    TheScoopPowerHourLogo

    The first "Scoop - Power Hour" virtual briefing for the new year will get you started on the right track! On Wednesday, January 13, at 2:00 p.m., we're pleased to welcome Norm Miller, with USD's Burnham-Moores Center for Real Estate, for an update on the regional market. We'll also host two panels featuring brokers and agents, giving you insight into the ways your peers are getting motivated and thriving during the health crisis. 

    Join us for an hour that could set the tone for your 2021. You can watch via "Facebook Live" on our Facebook page or on Zoom. Register here for January 13, and we'll send you a reminder for the meeting.

    Small Business Relief Offered Through California's Grant Program

    Starting Wednesday, REALTORS® can apply for California’s new relief grant program for small businesses affected by the COVID-19 pandemic. The program provides micro grants ranging from $5,000 to $25,000 to eligible small businesses (including independent contractors and sole proprietors) impacted by COVID-19 and the related health and safety restrictions. The grant amount will be based on the business’s annual revenue as documented in its most recent tax return. Learn more here.

    Homebuyer Demand for Mortgage Eases at the End of a Record Year

    What was expected to be a mundane year in the mortgage market was anything but: A sharp downturn in demand for housing at the start of the pandemic took a hairpin turn and just kept rising, and the average rate on the popular 30-year fixed mortgage set no less than 15 record lows. Low rates continue to fuel refinance volume, which rose 4% the week before Christmas, and was a stunning 124% higher than a year ago. Read the news analysis from CNBC.

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  • December 01, 2020 15:43 | San Diego Realtist for Democracy in Housing (Administrator)

    News and Updates:
    Young Black & N' Business

    (click on the link to go to that section)
     

    Featured Article 
    Upcoming Events 
    Special Offer
    General Committee Information

    Featured Article: 
    Real with Real Estate Expert @destinysixfinancial, Derrick Luckett,

    (back to top)

    Continue reading this article ...
    Young Black & N' Business Lifestyle Manual and Magazine

    Did you know that all of our advertisers and special guest are all in one private facebook group?

    When you submit content or purchase an advertising space you automatically become a member of our Advertising Committee.

    To us, it's not about the magazine, it's about what the magazine means as a publication put together using real member content, and supported by real small business dollars.

     

    Read the magazine... join the committee...
    be a part of the magazine.

    Read Now

     


  • November 24, 2020 12:03 | San Diego Realtist for Democracy in Housing (Administrator)

    Happy Thanksgiving!

    Thank you to our wonderful members, partners, and community volunteers!

    Although this year looks very different than we all expected, we have many reasons to be thankful --- especially for your continuous support for us to achieve our mission of promoting and strengthening philanthropy in our community.

    Please be sure to join us on December 2 as we celebrate the highlights of this year, as well as host an interactive discussion about the 2020 programs and events that you found to be most valuable. Your feedback and suggestions will help determine where NCPC focuses its attention in 2021. Everyone who attends will be entered into a drawing for a free NCPC 2021 workshop ($25 value). 

    Register HERE

    FREE for Members

    $25 for Non-Members


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