Dear Member,

Shelter in Place Order has been enacted throughout Monterey County. As a result of this, the MCAR office will be closed for the duration of the order. MCAR staff are available to assist you from the hours of 8:00 AM - 5:00 PM by calling or texting: (831) 200-4226.

You can also reach us via email, please refer to the email directory below:
Kevin Stone, CEO, kevin@mcar.com
Scott Dick, Government Affairs Director, scott@mcar.com
Melanie Alvernaz, Professional Standards Administrator melanie@mcar.com
Teresa Johnson, Financial Coordinator, teresa@mcar.com
Tina Oler, Membership Coordinator, tina@mcar.com
Adam Pinterits, Communications Administrator, adam@mcar.com

Please continue to stay tuned to these emails as we will continue to put forward information and resources as it becomes available. Also check our new COVID-19 Information and Resources page for ongoing updates.

Thank you, 

Kevin
MLS Listings changes - Tour, Open House, and Days on Market (DOM)
With the community's health and safety in mind, the MLSListings Board of Directors decided Broker Tours and Open House listings will be disabled on the MLSListings service. This includes Tours and Open Houses that have already been scheduled. New postings will not be accepted until the Shelter in place (SIP) is lifted.

They also suspend the accrual of days on market (DOM) on all listings from March 17, 2020 until the SIP order is lifted.

Specifically, this means that:
  • All Active listings will stop accruing DOM effective March 17, 2020.
  • Any DOM accrued prior to March 17, 2020 will remain with the property. For example, 
  • A property listed on 3/1/20 would show 16 DOM and will not increment until the SIP order is lifted. If the order is lifted on 4/7/20, then on 4/8/20 it will show 17 DOM.
  • A property listed on or after 3/17/20 will show 0 DOM. If the order is lifted on 4/7/20, then on 4/8/20 it will show 1 DOM.
  • If a listing is Cancelled, it will show only DOM accrued through 3/17/20.
  • All Withdrawn listings (which do not accrue DOM) after 3/1/2020 will be marked as New in Matrix only, when returned to Active.

Rest assured that not only is the MLSListings system up and running, the company is now 100% remote and completely available to serve and support you. Staff are ready to respond to any of your questions or concerns as always, by phone, email, or chat. Please feel free to contact MLSListing s if you have any questions.
Update from NAR

As of this morning, HUD is suspending all foreclosures and evictions until the end of April. FHFA/Fannie & Freddie will follow suit for the next 60 days though mid-May. FHFA is urging borrows affected by Coronavirus to contact their mortgage services to seek assistance. Click here for more on this from HousingWire .

NAR has created and will continue to update resources for REALTORS, this includes information for clients. Click here for NAR's resource page .

Due to recent restrictions and recommendations implemented by the federal and local Washington, D.C., governments, NAR will deliver previously planned programming and committee meetings during the 2020 REALTORS® Legislative Meetings & Trade Expo virtually and cancel all in-person events.

Congress has passed legislation that provides support to American workers, families, and businesses, including the expansion of paid sick leave and family medical leave. It also includes refundable tax credits for small businesses and self-employed individuals to cover the cost of the leave. Read NAR’s summary of provisions important to the real estate industry.
C.A.R. just released NEW Coronavirus form and Information Webpage

We know many of you are in the middle of, or about to enter into transactions that may be affected by the coronavirus situation. In response to this unprecedented crisis, we are pleased to inform you that C.A.R. has just released a new form called the Coronavirus Addendum/Amendment (Form CVA). It will be in zipForm® tomorrow but in the meantime you can  download it here  and use it in your transactions. The form provides that when circumstances related to the coronavirus are affecting the closing date, the Buyer and Seller agree to extend escrow for a default of 30 days. There is also an optional clause where the buyer and seller can mutually agree to cancel the Agreement and an additional optional clause where the buyer or seller can cancel even after removing the loan contingency if inability to fund is caused by Covid-19 related loss of income.
This form can be used either as an amendment to a contract that is already in place or as an addendum to a contract that has not yet been formed.

For more information from C.A.R. visit their NEW Coronavirus Information page .