What Can REALTORS Look For in the Approved Stimulus Bill?

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

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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.

Homeowner Family
 
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Greater San Diego Association of REALTORS®, 4845 Ronson Ct, San Diego, CA 92111, (858) 715-8000

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Email: narebsd@gmail.com

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Email: narebsd@gmail.com

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