Real Estate in the Age of COVID-19: Suggested Best Practices
While many aspects of real estate can be conducted remotely, some elements of a transaction require at least limited in-person activities. In most transactions it is in the interests of both buyers and sellers for buyers to physically view a property before purchasing it, and there are any number of inspections to determine property values and to address health and safety issues. Licensees should attempt to perform activities remotely without contact whenever possible.
Act 53 clarifies that conviction of a crime does not automatically preclude someone from being issued a state professional or occupational license. The state licensing boards/commissions must first determine if the applicant’s particular criminal offense is directly related to the duties, functions and responsibilities of the license applied for, and then must conduct an individualized assessment of the applicant.
Gov. Tom Wolf signed a new executive order today protecting homeowners and renters from eviction or foreclosure until Aug. 31, if they are not already receiving relief through a state or federal foreclosure moratorium programs or judicial orders.
“NAR has heard from both members and consumers there is a demand for homes in rural areas and small towns that provide not only larger homes, but acreage in a less dense city center,” said the National Association of Realtors® Vice President of Demographics and Behavioral Insights Dr. Jessica Lautz. “NAR members have told us there is strong demand for homes that provide personal space inside the home and land outside the home.”
The number of flips in the first quarter of 2020 represented 7.5% of all home sales in the U.S. In total, 53,705 single-family homes and condos were flipped, an increase of 1.2% from the fourth quarter of 2019 and up 0.2% year-to-year.