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Kung Hei Fat Choy! This year’s new Chinese zodiac animal king – the Metal Ox, will bring a year of recovery, reclaim and discovery, according to feng shui Master Y.C. Sun. At the Silicon Valley Association of REALTORS® Global Business Council Lunar New Year celebration last Friday, Sun said the Metal Ox is known to have mythical power to stabilize a bad situation created by the Rat in 2020 and start the process of recovery.

Sun predicts by mid-June we should return to some form of “normal” life, and by next February 4, 2022, the year of the Water Tiger, “we will see a healthy community and a strong economy, as well as people are busy traveling and having fun.” This scenario is similar to the year of the Rat in 2008, during the Great Recession which ended in 2009, the year of the Earth Ox.

Sun said the Metal Ox requires people to be diligent and provides them with a combative spirit, perseverance, mental toughness, and the determination to overcome adversity, such as the pandemic. The Ox is disciplined, easy going, trusting, and introspective, but occasionally suffers from irrational fears, such as fear of impending doom. The Ox also can be stubborn and competitive. When provoked, it becomes enraged.

The Metal Ox’s positive energy is directed to fight for justice, defend and protect safety, security and the interests of family and loved ones. Its negative energy can lead to violent confrontation, disruption, domestic violence, robbery, suicide.

Sun predicts unusual weather will occur in January, May, September, and November, and earthquakes possibly happening in March, June, July, August, and September in Indonesia, Iran, Japan, Peru, Taiwan and Alaska, including a possible large-scale earthquake at Xinjiang, China. He sees July (from July 7-August 7) as a bad month, as karma between the Wood Goat and Metal Ox come in conflict.

For the housing market, Sun said the recovering economy, low mortgage rates, increased buyer demand for investment income, first-time buyers and low inventory will lead to greater competition for desirable homes and further home price appreciation. High-earning millennials turning 28 years old will buy their first-time homes, and the oldest millennials will trade up.

Sun sees real estate being strong for the next 4-5 years, but noted 2021 will be a hard-working year for real estate agents as they face intense competition and reduced transaction fees, and become efficient in technology. Except for the southeast and northwest cities, Sun said the housing market should remain steady with good price growth particularly in San Jose-Sunnyvale, Oakland-Hayward, Sacramento-Roseville-Arden-Arcade, Napa, Oxnard, Riverside, Las Vegas, Reno, Phoenix, Austin.

Find out more HERE.

In the local real estate association’s first-ever virtual ceremony, the Silicon Valley Association of REALTORS® 2021 leadership team was installed on Feb. 4 on Zoom. National Association of REALTORS® 2020 President Vince Malta administered the oath of office to 2021 SILVAR President Joanne Fraser, and California Association of REALTORS® 2021 President Dave Walsh installed SILVAR’s 2021 officers and board directors. Compass Executive Vice President and Regional Office Manager Jeff Barnett served as master of ceremonies. SILVAR REALTOR® Robert Reid led everyone in the Pledge of Allegiance, Joey Hallatt, a REALTOR® from Phoenix, Ariz., sang “God Bless America,” and 2021 NAR Vice President of Advocacy Leigh Brown delivered the Inspiration Message.

SILVAR’s 2021 officers are Fraser, a REALTOR® with Compass, Los Altos; Brett Caviness, a REALTOR® with Compass, Menlo Park, President-elect; and Jeff Bell, broker manager of Coldwell Banker Realty, Cupertino, Treasurer.

SILVAR’s 2021 board directors are Mary Kay Groth (Sereno), Past President; Alan Barbic (Sereno), Region 9 Chair; Jim Hamilton (Compass), NAR Director; District Chairs Katherine Frey (Independent Broker), Los Altos-Mountain View;  Elizabeth Doyle (Sereno), Los Gatos-Saratoga; Selena Young (Coldwell Banker), Menlo Park-Atherton; Pat Kapowich (Independent Broker), Cupertino-Sunnyvale; Lori Buecheler (Compass), Palo Alto; and Directors At-large Ketan Jashapara (Compass), Karen Trolan (Sereno), Suzanne Yost (Compass), and Eileen Giorgi (Sereno).

A former nurse for 14 years, a REALTOR® for 43 years and a world traveler, Fraser has a lifetime of experiences. She told friends, colleagues, and family who watched the ceremony on Zoom and FacebookLive that she wants to give back to SILVAR and the real estate community.

Fraser moved to Mountain View from Maryland in 1970, and worked as an RN in the emergency room, critical care, medical and surgical at Stanford and El Camino hospitals until she decided to change careers. She took real estate courses at night and received her license in 1977.

A Certified Residential Specialist and member of the Residential Real Estate Council (formerly CRS), Fraser served as 2007 president of the CRS NorCal chapter, was regional vice president, and served on the national RRC board and various committees. She was the 2006 and 2016 CRS of the Year and received the 2012 CRS Medallion award for her volunteer service.

Fraser has achieved NAR Emeritus status, served on NAR’s Global Business & Alliances Committee and Certified International Property Specialist Advisory Board. At SILVAR, Fraser has served as president of the Silicon Valley REALTORS® Charitable Foundation, chair of the Global Busines Council, a board director and member of many committees.

Sharing her excitement for the upcoming year, Fraser said she wants to move on from a pandemic year. “It’s the time to turn the page; it’s not going to be the same old thing,” she said.

Fraser urged members to get more involved in association activities and share her passion for leadership. “Leadership is having a vision and looking for the future … I’m truly looking forward to building a team, people who want to work together for a common goal, so that we can make SILVAR the best association in the Bay Area.”

Sponsors of the installation ceremony include Presenting Sponsor Compass, TourFactory, JCP-LGS Hazard Disclosures, and Water Tower Creative.

SILVAR is excited to announce a new benefit for all members! You recently received emails from the California Association of REALTORS® (C.A.R.) about REALTOR® Secure Transaction, a new one-stop transaction dashboard available on Wednesday that will give you access to your Transactions, zipForm Edition account and more, including the addition of Glide on January 14, 2021. Glide is a platform for eSignatures, collaboration resource, and compliance tools needed for your real estate transactions.

We are happy to inform you that SILVAR has also partnered with Glide to provide you with a faster, simpler, and safer transaction platform designed to provide a modern experience for you and your clients.

As a member of C.A.R., you will receive a basic set of Glide features, which you can see HERE. SILVAR is providing you with additional features to maximize the value of your membership. These additional benefits include:

  • The addition of the PRDS form library available starting mid-January
  • The ability to fill all forms in Glide, eliminating the need to switch platforms
  • Complete PEAD-Vs and create transactions via MLS

Again, the Glide platform will give you access to eSignatures, collaboration resources, and compliance tools needed for your real estate transactions. Over the past three years, Glide has been used by over 40,000 agents in California to complete disclosures, AVIDs, and PEAD-Vs. We hope you also enjoy these new additional member benefits, and we are here to support you during your transition to using this new tool.

Silicon Valley REALTORS® can access their Glide benefit and learn more about Glide HERE.

* PRDS forms will remain available on the Instanet platform (in addition to Glide and Transactions, zipForm edition), but please note the Authentisign/DocBox benefit is ending January 1, 2021.

While the COVID-19 pandemic has delayed real estate transactions for some people, housing markets in many areas of the country are showing a strength and resiliency unimagined earlier this spring. It is critical to understand the pandemic’s impact on real estate, from simply touring a home to the ability to close transactions.

As the situation continues to evolve, the Silicon Valley Association of REALTORS® encourages buyers and sellers to follow CDC guidelines to protect their health and safety. Below are some important tips on buying and selling a home during the pandemic from houselogic.com:

What Buyers Need to Know:
Home tours look a little different
–Where in-person showings are offered, potential buyers can expect quicker tours and asked to take extra precautions, such as removing shoes, using hand sanitizer, and refraining from touching items in the home. Many REALTORS® also are guiding buyers through virtual home tours.

Interest rates are low –Interest rates remain at all-time lows and home prices are rising or holding steady. As more people file for unemployment, however, mortgage lenders have tightened lending standards. Potential buyers can prepare for homeownership by understanding their budget, building a good credit history, and getting prequalified for a mortgage. Some lenders allow borrowers to lock in interest rates for limited time periods.

Don’t expect a discount –Home prices in Silicon Valley are holding steady, with majority of prices higher from one year ago, according to local multiple listing service MLSListings. The median sales price of cities in the county are exhibiting double-digit percentage increases year-over-year. Days on market for most cities are down to the single digits, a sign that homes are selling quickly. The sales-to-price ration averages 102 percent.

Expect delays –Those terminating a lease should leave some wiggle room, even an extra month or two, between moving out of a rental and into a new home in case of an unexpected delay. Hiring moving crews may prove challenging, so buyers should give movers as much notice as possible ahead of their scheduled move.

What Sellers Need to Know:
Use tech tools to help market and show your home
– For sellers uncomfortable with in-person showings, many digital tools are available to help them continue marketing and showing their home. A REALTOR® can help coordinate three-dimensional interactive property scans, virtual tours (either pre-recorded or live), on-demand open houses, and virtual staging to showcase their property. If sellers receive an offer on their home, their REALTOR® has the ability to present it to them virtually.

Take steps to protect yourself – “Sight unseen” purchases are not a new phenomenon, but this pandemic has certainly increased their prevalence. Sellers may want to include language in the purchase agreement that ensures buyers acknowledge they are responsible for personal verification, walkthroughs, and professional inspections to confirm that the property meets their needs.

Buyers are still searching – It continues to be a competitive market due to the limited supply of homes for sale. As potential buyers increasingly browse homes online, having attractive and accurate photos and videos is even more important. Sellers can use this extra time at home to make updates around their home and take fresh pictures of those improvements.

For more information and resources on buying or selling a home, visit www.houselogic.com.

The National Association of  REALTORS® (NAR) Board of Directors today strengthened REALTORS®’ commitment to upholding fair housing ideals by approving a series of recommendations from NAR’s Professional Standards Committee that extend the application of Article 10 of the Code of Ethics to discriminatory speech and conduct outside of members’ real estate practices.

Article 10 prohibits REALTORS® from discriminating on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity in the provision of professional services and in employment practices. The Board approved a new Standard of Practice under the Article, 10-5, that states, “REALTORS® must not use harassing speech, hate speech, epithets, or slurs” against members of those protected classes.

The Board also approved a change to professional standards policy, expanding the Code of Ethics’ applicability to all of a REALTOR®’s activities, and added guidance to the Code of Ethics and Arbitration Manual to help professional standards hearing panels apply the new standard.

Finally, Directors approved a revision to the NAR Bylaws, expanding the definition of “public trust” to include all discrimination against the protected classes under Article 10 along with all fraud. All REALTOR® Associations are required to share with the state real estate licensing authority final ethics decisions holding REALTORS® in violation of the Code of Ethics in instances involving real estate-related activities and transactions where there is reason to believe the public trust may have been violated.

These changes are effective immediately, though the changes cannot be applied to speech or conduct that occurred before today. NAR has produced training and resource materials to assist leaders with understanding and implementing the changes and will be rolling those out in the coming weeks.

READ MORE HERE, INCLUDING FAQs

Bay Area residents already beleaguered by the coronavirus pandemic are still facing wildfires that continue to erupt around the region. The heavy smoke from the fires continues to endanger the health of residents.

Mary Kay Groth, president of the Silicon Valley Association of REALTORS® (SILVAR), called on residents to take steps to protect themselves from the wildfire smoke. “Our hearts go out to our brave firefighters and the victims of the fires across the state. Breathing the unhealthy air from the fires is dangerous, especially for children whose lungs are still developing, and for those who have heart or lung diseases or asthma and other high health risks.”

SILVAR shares the following tips from various agencies, including the Center for Disease Control and Protection and the Environmental Protection Agency, to protect families from wildfire smoke.

Pay attention to air quality alerts. Stay informed by visiting http://www.sparetheair.org. Sign up for Spare the Air Text Alerts on the website.

Stay indoors with windows and doors closed. Now is not the time to do outdoor activities, like mowing, trimming bushes, or running and other strenuous activities.

Protect yourself from smoke. If you need to be outside, use a N95 mask or greater that fits snugly on your face. N95 masks are precious protective equipment for frontliners treating coronavirus patients, so to conserve their use, please heed advice to stay indoors.

Run the air conditioner. Keep your air conditioner’s fresh air intake closed and make sure your air filter is clean. If you do not have an air conditioner and it is too warm to stay inside with the windows closed, seek shelter elsewhere.

Do not add to indoor or outdoor air pollution. Do not burn candles or use gas or propane. Do not fry or broil meat, smoke tobacco products, or vacuum. It is illegal to use fireplaces, woodstoves, outdoor fire pits or any other wood-burning devices during a Spare the Air Alert.

Reduce smoke in your vehicle. When on the road,close your car windows and vents. Run the air conditioner in recirculate mode.

Conserve on energy. To prevent service interruptions, reduce your energy usage, including use of major appliances during peak hours of 3-10 p.m. Keep air conditioning at 78 F degrees and turn off all unnecessary lights.

June is National Homeownership Month, a time to recognize the value of homeownership. Owning a home is more than an address. When you invest in homeownership: you build financial stability, gain the freedom to create a home that fits your lifestyle, and play a role in strengthening your community.

Since Americans have been forced to shelter in their place of residence due to the coronavirus pandemic, the home has come out on top. Families are discovering their home and improvements they can make. Homeownership has mattered even more to prospective buyers.

“The home is now not just a place to live, but also a place to work,” said Mary Kay Groth, president of the Silicon Valley Association of REALTORS® (SILVAR) and a REALTOR® with Sereno Group. “With more companies allowing their employees to work remotely, surveys show a growing trend in buyer preferences to expand their home search farther from the city to places with more open space and for larger homes with a dedicated space for a home office.”

The social benefits of homeownership are many. Homeowners move far less frequently than renters, making it easier to build community networks and support systems. This results in a higher membership in voluntary organizations, greater social interaction in their communities, better school performance by children living in owned homes, a higher rate of high school graduation and higher earning, and better physical, psychological and emotional health outcomes.

The pandemic has caused a drop in home sales, but it has not brought transactions to an absolute halt. In fact, market activity has grown in the past month as REALTORS® embrace technology to help their clients achieve their dream of homeownership. Since traditional open houses are banned, SILVAR REALTORS® like Mary Jo McCarthy are holding open houses virtually.

McCarthy, a REALTOR® with Golden Gate Sotheby’s International Realty, recently told SILVAR members, “It’s the path that we’re in, so I felt I have to learn it. I’m in the weeds right now and just figuring out how to navigate, but it shows my clients that I’m moving ahead with technology.”

In-person showings are allowed now, but with only three persons – two from the same household and the agent. Health and safety restrictions must be followed. Mitra Lahidji, a REALTOR® with Compass, described the process. “We kept a 6-foot distance from each other, we had face masks and gloves. I gave booties to my clients, two persons only, and then wiped the areas we touched.”

“We are so fortunate technology has allowed us to be in touch ‘face to face’ with our clients,” said Groth. “For now, the best value we can give our clients is to know our marketplace so every buyer who wants to achieve their dream of homeownership can, and to also be a voice of calm and assurance when they are feeling overwhelmed with all that is happening around us.”

The National Association of REALTORS® is celebrating the new era of homeownership and recognizing the people, policies, and programs that are #CreatingHome now and into the future. Visit https://homeownershipmatters.realtor/homeownership-month-2020/ for homeowner stories and expert advice.

There is a bright spot to the coronavirus pandemic, and that is the rise in adoption and foster applications in animal rescue and shelter facilities. In fact, some shelters have happily announced they are empty, while others like the Silicon Valley Humane Society, have announced due to overwhelming adoption demand, they have temporarily paused their adoption appointment sign-up for dogs and are only taking adoption appointments for those interested in meeting cats, rabbits, and pocket pets and even these appointments are filling up quickly.

“In this unprecedented time of shelter-in-place and social distancing, many individuals and families long for a little companionship,” said Mary Kay Groth, president of the Silicon Valley Association of REALTORS®. “If you were planning to adopt a pet before the coronavirus pandemic, now could be a great time to take that step. More time at home means more time to bond with your new pet and work with them on training.”

According to the National Association of REALTORS® “2020 Animal House: Pets in the Home Buying and Selling Process” report, 66 percent of U.S. households currently have a pet or plan to get one in the future, proving that pets and their effects on a home, must be considered for a majority of households. Additionally, 43 percent of households would be willing to move to better accommodate their pet(s), demonstrating that this is a priority among consumers. A small percentage, one percent, of recent homebuyers said they were prompted to make their purchase by the desire for a better home for their pet(s). When searching for a new home, 18 percent of recent homebuyers said it was very important that their new neighborhood is convenient to a vet and/or outdoor space for their pet(s).

Within the past year, a median of 38 percent of REALTORS®’ clients have owned a pet, companion animal, or service animal; and 18 percent of REALTORS® have represented clients that have moved solely for their animal. When finding a home for their clients, the most important feature for REALTORS®’ clients in terms of their animals’ situation is a fenced yard. This was followed by a large enough home for the household and pet, and flooring.

Pets also come into play when REALTORS® work with sellers. The most common pet-related advice REALTORS® give their seller clients is take the animal(s) out of the home during showings and replace anything damaged by the pet(s). Eighty percent of Realtors recommend that their clients remove pets during showings when selling their home.

Groth cautions families not to adopt a pet just because they are home during the coronavirus pandemic. “The pandemic and our shelter-in-place orders won’t last forever,” said Groth. “Before you adopt a pet, consider how much time you will have to care for a dog, now and post-pandemic, is your job secure enough to afford pet-related expenses, does your current place of residence have space for a pet or, if you’re renting, does your landlord allow pets? Will you have the time and energy to commit to training your dog? These are important questions to consider.”

The National Association of REALTORS® MLS Policy Statement 8, also known as the MLS Clear Cooperation Policy, takes effect for all MLSs beginning today, May 1. NAR’s Board of Directors adopted the policy last November.

The new NAR policy requires listing brokers who are participants in an MLS to submit their listing to the MLS within one business day of marketing the property to the public. Agents may promote a listing only within their brokerage – not with others on the MLS or outside of the brokerage.

The California Association of REALTORS® (C.A.R.) reviewed and adopted the policy with more details to its model rules for CA MLS, and on April 15, the MLSListings Board of Directors adopted the C.A.R. model rule changes. The C.A.R. SELM form has been modified to refer to the policy.

Within the MLSListings service area, the Clear Cooperation Policy applies to one to four-unit residential property and vacant residential lots. It does not apply to commercial listings and new construction of five plus units.

Brokers/agents can still take an exclusive listing, but can only promote or advertise the listing within their brokerage. If advertised to the public or to an outside agent, the listing must be added to the MLS within one business day as an Active listing.

Public marketing or advertising includes, but is not limited to conveying or displaying any information about the property or its availability for sale through or on any windows, signs, public facing websites, social media, brokerage or franchise operated websites (including IDX and VOW), digital communications marketing (ex: email, text or phone blasts, social media messaging), multi-brokerage or franchise listing sharing networks, flyers or written material or on any applications available to the public or through conducting an open house.

This rule only applies to “excluded” or “exclusive” or “waivered” listings. Listings entered as Coming Soon on the MLS may only be advertised as Coming Soon off the MLS.

For the next month, MLSListings will be educating brokers and agents about the new rules. MLSListings is urging agents to communicate with their broker about the new policy. Brokers, in turn, need to counsel their agents. Agents need to counsel their sellers about what it means to have an “exclusive” listing.

If caught violating the rule, an agent must enter the listing as Active. Agents in violation will receive courtesy notices for violations with a copy sent to their broker or office manager. The fine for a violation is $500 and escalates until the property is listed or the NAR maximum of $15,000 is reached. Many MLSs are imposing fines upwards of $5,000.

Visit MLSListings Clear Cooperation Resource Page

View MLSListings’ video on Clear Cooperation Implementation

California Governor Gavin Newsom has extended the state stay-at-home order through the end of May and has California’s Pandemic Roadmap to safely re-open all businesses and institutions stages. Meanwhile, San Mateo and Santa Clara counties, along with the four other Bay Area counties of Alameda, Contra Costa, Marin, San Francisco, have announced they will ease some of their Shelter-in-Place (SIP) restrictions effective Monday, May 4. With regard to the practice of real estate, the Santa Clara County Public Health Order states (SILVAR has confirmed that the same applies to San Mateo County):

“Service providers that enable real estate transactions (including rentals, leases, and home sales), including, but not limited to, real estate agents, escrow agents, notaries, and title companies, provided that appointments and other real estate viewings must only occur virtually or, if a virtual viewing is not feasible, by appointment with no more than two visitors at a time residing within the same household or living unit and one individual showing the unit (except that in-person visits are not allowed when an occupant is present in a residence);

Previously, private showings and walk-throughs were not allowed when an occupant was living in the residence. This mirrors prior direction for limited photography/videography, inspections, and necessary work to close a transaction, while generally limiting it to no more than three people at a property at one time.

The following guidance for showings of properties continue:

  • No open houses.
  • Virtual showings are highly encouraged. If a virtual viewing is not feasible, then an in-person viewing of the property may be done by appointment only.
  • During the in-person showing of the property, all social distancing protocols must be practiced, and protective measures, such as the wearing of gloves, cloth face coverings, and not touching of surfaces and maintaining a distance of six feet between each other must be followed.

For more information on this announcement, visit the Silicon Valley Association of REALTORS® website at http://www.silvar.org.

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