DMAR Digest | Week of April 20
COVID-19 updates
Banks will soon be able to postpone some appraisals until 120 days after a mortgage closes
Citing the need to “extend financing to creditworthy households and businesses quickly in the wake of the national emergency declared in connection with COVID-19,” a trio of federal banking regulators announced Tuesday evening that banks will soon be able to delay getting an appraisal on a property for as many as 120 days after a mortgage closes. Read More
Legal Bites - April 15, 2020
Colorado Association of REALTORS® General Counsel Scott Peterson gives an update on the COVID-19 virus and its implications on real estate transactions in Colorado. Watch Here
Buying a House In Colorado During Coronavirus Involves a Lot More Tours Via GoPro
The new coronavirus outbreak is changing the way people buy and sell homes. Real estate transactions are deemed an essential service under the stay-at-home order enacted by Gov. Jared Polis in March, but social distancing requirements have upended the process at every step. From the open house to the closing table, the entire process has to adapt. Read More
Opendoor lays off 35% of its staff
Opendoor, which has raised more than $1 billion in funding in the last few years, laid off over 600 of its employees Wednesday as the company struggles to deal with the economic impact of the coronavirus. Read More
Gig Workers Should Soon Get Access To Colorado Unemployment Benefits
Colorado is nearly ready to accept applications for unemployment benefits from gig workers, independent contractors, self-employed people and others covered by the federal CARES Act. Read More
What Will America’s Housing Market Look Like After The Coronavirus Pandemic Ends? Here’s What 5 Top Producing Real Estate Agents Had To Say
It’s never easy to buy or sell a home—even in the best market conditions. During the COVID-19 pandemic, it’s become nearly impossible. Read More
$5.8 billion in potentially forgivable federal loans approved for Colorado small businesses in first 11 days
The money is part of the $349 billion fund set aside by Congress to help employers retain workers. Two-thirds of the money has now been claimed nationwide. Read More
Brokerages Adapt to New Realities
While it’s hardly business as usual in the midst of a global pandemic, real estate brokerages have been quick to respond to the changing times to keep business moving forward. Read More
Buying a home during the coronavirus pandemic
The novel coronavirus pandemic has resulted in a seismic shift in daily life across the U.S. But even faced with stay-at-home orders, some of which may last for months, Americans are still looking for, buying and moving to new places. Read More
Housing isn’t as doomed as it may seem – Here’s why
When the coronavirus attacked the U.S. economy, we had been enjoying the longest job and economic expansion ever recorded in history. Purchase application data had been on an upswing of double-digit growth year over year until March 18. Read More
Must read
DMAR Virtual Presentation Hosted by Euan Graham
On April 9th, DMAR's Chairman of the Board, Euan Graham, hosted a special virtual presentation with guest Nicole Rueth, Producing Branch Manager of Fairway Independent Mortgage Corp and Exclusive Annual Sponsorship Partner of the DMAR Market Trends Report.
Nicole provided an excellent financial and economic analysis including an overview of unemployment rates, the CARES Act, loan forbearance, consumer activity and more. Watch Here
Quote of the week
“It is only in our darkest hours that we may discover the true strength of the brilliant light within ourselves that can never, ever, be dimmed.”
Doe Zantamata, Canadian author
We're still here for you
DMAR offices may be closed but the DMAR staff is working remotely and still available to assist you by phone or email. If you are looking to reach a specific department or staff person, please refer to the staff directory here, or contact our main line at 303-756-0553 or email help@dmarealtors.com.
Be Seen and Heard
With in-person classes, events and meetings temporarily on pause, sponsorship opportunities are fewer, but that doesn't mean you can't get exposure. Web ads, sponsored emails and guest blogging are three ways you can continue to get in front of members. These are fantastic benefits to utilize at any time, and now may be the perfect time to give one (or all) a try. If you are interested, please contact DMAR's Director of Marketing & Communications, Sarah Goode, at sgoode@dmarealtors.com.
COVID-19 Updates and FAQs
We know many of you have questions regarding COVID-19 and how it will affect your business. To help answer some of these unknowns, we've put together a list of FAQs, which you can view here. If you have additional questions please email communications@dmarealtors.com and we will do our best to provide an answer for you. We are also continuing to update our COVID-19 landing page to keep you up to speed on the Colorado coronavirus outbreak.
Follow us on Facebook for Updates and News
Now more than ever we are making it a top priority to continuously provide important updates and breaking news to our members. Be sure to follow us on Facebook, Twitter, LinkedIn and Instagram for trending news about COVID-19, the economy, our communities and our industry at-large.
Whether self-quarantined or practicing social distancing, we're all spending a lot more time at home right now. And while we know that can be challenging for more reasons than one, now is a great time to catch up on some of the CE credits you may have been putting off. While in-person classes are a no-go at the moment, you still have plenty of options when it comes to your education.
- The CE Shop - use the promo code Support40 to get 40% off
- VanEd
- Armbrust Real Estate Institute
Skim this
Coloradans should expect some social distancing for months to come, Polis says: “The virus isn’t going to disappear”
Coloradans will have to get used to a new normal for many months to come, with the reopening of businesses and resumption of normal daily activities coming gradually, and some social distancing remaining in place until there is a cure or a vaccine, Gov. Jared Polis said Wednesday. Read More
Warning Graphic Images: Knowing Market Trends (recorded class)
Weren't able to join us for our virtual market trends class taught by Nicole Rueth and Andrew Abrams and offered through DMAR's PEAK program? No worries! We have a recording of it for anyone who missed it. Watch Video
Denver thinks coronavirus will be twice as bad for its coffers as the Great Recession
Denver’s chief financial officer has asked city department heads to significantly cut their budgets in response to the COVID-19 pandemic, which will shrink city tax collections by an estimated $180 million. Read More
Here’s What Colorado’s New Normal Might Look Like in a Best-Case Coronavirus Scenario
Four weeks into a stay-home order, Coloradans have begun to wonder when they might get to go out again — and what the world will look like when they do. Read More
Digging Deeper: Price Reductions
The DMAR Market Trends Committee examined how many closed transactions reduced their list price compared to the original list price prior to receiving an offer. Read More
Digging Deeper: Year-to-Date Zip Code Report
The DMAR Market Trends Committee examined the year-over-year changes in average close price, median close price, number of closed transactions and days in MLS by zip code. Read More
Help Us House the Homeless
Now through April 28th, we're calling on our members, local brokerages, friends, family and neighbors to help us raise $70,000 for HomeAid Colorado, a non-profit organization that offers multi-unit shelters for families and individuals experiencing homelessness, and provides an opportunity to build second chances to get them back on their feet. Donate Here
Just for you
Three Tier Benefits | Improved & Expanded Healthcare
As a member of DMAR, you also gain access to member-only benefits and services from the Colorado Association of REALTORS® (CAR) and the National Association of REALTORS® (NAR).
You've heard by now about the medical cost-sharing program offered through your DMAR membership. We're excited to announce you now have an option for traditional insurance, too! You can choose whichever plan makes more sense for you and your family. We're also excited to announce several meaningful changes to our cost-sharing option:
- The monthly cost has been reduced
- Network restrictions have been lifted for all medical care
- Telemedicine has been moved to a more robust system which allows for more personalized care from a physician
- Dental and vision plans are now included
- Telephone numbers for Sedera and Apex have been consolidated
Open enrollment (usually November 1 – December 15) is now open again due to the complications COVID-19 has placed on all of us.
The deadline for our new traditional insurance option is April 30th. Watch Webinar
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