August 11, 2020
Member News
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NAR Chief Economist Coming to CORE Tomorrow! Join us for this informative webinar with NAR Chief Economist and Senior Vice President Dr. Lawrence Yun, titled Residential Economic Update for New Jersey Realtors. Dr. Yun will be providing his insights regarding real estate in New Jersey during and after the Coronavirus pandemic. Registration is limited, so be sure to reserve your "seat" today! Wednesday, August 12 at 2 - 2:30 pm. Free. Register here.

CORE Closed Next Week Please note CORE will be closed August 17 through 21 for staff training on our new membership system. We regret any inconvenience this may cause. And we'll do our best to answer emails and voice mails before and after our all-day trainings during that week. We will reopen at 8:30 am, Monday, August 24th.

Due to the cancelled Circle of Excellence event, CORE will be holding a contactless parking lot pick-up event for CORE members to pick up awards for their winners. This event will be held Tuesday, September 1 (Rain Date: Thursday September 3) at the Branchburg office, 61 US Highway 22 E. Bldg. B. Please follow the designated time-slots below:
  • Office name from A-J: 9 am - 12 pm
  • Office name from K-Z: 1 pm - 4 pm
  • Each office Designated Realtor should assign someone in your firm to pick up the awards for each office in which you are a DR. 
  • Please email the names of all agents by office and who will be picking them up to CORE Director of Education & Events Craig Pantellere at - no later than Tuesday, August 25.

Mercer County: Notaries May Now Renew Commission After Health Emergency; Clerk’s Office to Honor Existing Appointments In light of the recent executive order by Governor Phil Murphy extending the deadline for notaries public to renew their commission to 90 days after the current Public Health Emergency (PHE) ends, the Mercer County Clerk’s Office will honor all current appointments but will only make new appointments under emergency circumstances. View press release.

Bright MLS

Take the Bright Back-to-School Survey! As September draws near, Bright would like to learn more about whether homeschooling and remote education plans are affecting the decisions of prospective buyers in your area. All respondents will be entered into a drawing to win a $200 Amazon Gift Card, and Bright will share the results with you. Take the survey.
Cloud CMA offers automated CMAs with Homebeat Great news for Cloud CMA subscribers! Homebeat is now included with your Cloud CMA subscription! That's a value of $199 per year— included with your Cloud CMA access.
  • Homebeat helps you stay in touch with your past clients and homeowners by setting them up to receive automated, online CMAs. Plus, your branding and contact information are front-and-center— so when your client is ready to sell, they know who to call!  Watch this video to see Homebeat in action.

Grassi Advisors: SBA Issues New Guidance on PPP Loan Forgiveness 
This live webinar will cover some of the most significant factors impacting your PPP loan forgiveness and other relief, including:
  • PPP calculations for eligible payroll and non-payroll costs
  • Loan forgiveness test based on FTE count
  • Workforce management strategies to meet loan forgiveness requirements
  • Safe harbors for PPP borrowers
  • Proposed new round of PPP stimulus funds
Thursday, August 13, 2020 at 11:00 am Click to register
Residential Real Estate Council: Know the Needs of the Military Market Military families face different, unique circumstances when it comes to the home-buying process. Get insight into what they are looking for and how to easily adapt your strategy to effectively serve military and veteran families in How Agents Can Best Serve the Military Market taught by Maura Neill. Get 30% off with code: MILITARY30 today!

Mercer County - Business Survival Series: Marketing Strategy This is part 2 of the four-part of this series. This workshop will review the basic principles of marketing strategy, and the application of the “4Ps of marketing,” SWOT analysis and target marketing, as well as assist in making effective local advertising choices, including social media, as part of a complete digital marketing plan. Wednesday, August 12 at 10 - 11:30 am. Free. Register now. 
Commercial Real Estate

NAR: House Considers Commercial Market Relief Legislation A proposed law would provide economic support for the commercial market as it responds to the effects of the COVID-19 pandemic. Read more. 
NJ Grants Announced for Landlords The small landlord emergency grant program will reimburse landlords for lost rent revenue due to COVID-19. Grantees must pass this benefit on to tenants by forgiving outstanding back rent. Learn more about the program and how to apply here. Back to School? Mask Up! When students educators return to school in the fall, face coverings will be required for students, staff, and visitors—unless doing so would inhibit the individual’s health. Learn more about the Department of Education’s Restart and Recovery Plan for school reopening.
NJ Governor Murphy Announces Additional $15 Million in CARES Act Funding to Recovery of Small Businesses Governor Murphy announced today that an additional $15 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding has been made available to New Jersey small businesses struggling with the pandemic. This funding is in addition to the $100 million the New Jersey Economic Development Authority (NJEDA) is currently administering through programs to COVID-19-impacted businesses. Read more. 
NJEDA to Provide e-Commerce Tech Assistance for Businesses During COVID-19 The NJEDA launched the e-commerce technical assistance program to help businesses that normally rely on foot traffic and in-person deals develop the tools they need to stay in businesses while complying with the state’s current health and safety guidelines. Learn more here.
NJBIZ: NJ Contact Tracers Meet Resistance from COVID-19 Residents Sixty-three percent of those phoned answered the call, state health officials said. But, 20 percent would not pick up, according to State Health Commissioner Judith Persichilli. Read more. 


NAR: Fuller Flood Data Eliminates the Unexpected Fuller flood data is a good thing for clients and customers flood risk isn’t a fun topic to raise with buyers or sellers. You may worry that new tools like First Street Foundation’s Flood Factor—which offers consumers data on the level of risk to a given property—could threaten sales. But in the latest “Pivot in Place” video, you’ll see that the more information and transparency you provide clients, the more confident they’ll be in their transactions. Also, when you’re armed with third-party data, buyers are less likely to cast blame later if a flood event occurs. Using Flood Factor ratings, along with the Federal Emergency Management Agency’s Flood Preparedness Resources (created in consultation with NAR), you can help customers develop risk mitigation plans and understand their flood insurance needs.

NAR: August Poised for 2020 Homebuying Peak The pandemic has pushed back the annual high for real estate activity, which is typically in May. Are you ready for the rush? Read more. 
NAR: 7 Client Behaviors Emerging From COVID-19 The housing market is seeing unprecedented monthly jumps in existing-home sales, and that’s influencing changes in the way buyers and sellers operate. Read more. 
NAR: America Has a Surprising New Favorite Room in the House Survey respondents say they now prefer a space where “they can hide from family members.” 
NAR: Instant Reaction - Mortgage Rates and Unemployment Filings The housing market is hot because of low mortgage rates, but the luxury market may remain soft due to jumbo loan issues. Read more. 
NAR: Appraisers Struggle to Manage Skyrocketing Demand Lenders report longer turnaround times for appraisals, delaying the mortgage underwriting process. Read more.
NAR: Buyers, Tired of Homes’ Shortcomings, Want to Trade Up Consumers are eyeing home features that provide more space and privacy. Read more. 
NAR Urges Bipartisan Action on Eviction Moratorium, Rental Assistance Policies - Stresses Consideration of Small Property Owners NAR President Vince Malta issued the following statement in response to the White House’s recent eviction moratorium executive order.
  •  “While NAR appreciates and is supportive of White House efforts to ensure struggling Americans can remain in their homes, we are disappointed in the administration’s decision not to tie an eviction moratorium with rental assistance – as they must be. We now strongly urge the administration and Congress to come to a swift, bipartisan resolution that protects both renters and housing providers.”

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