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Your first tuesday real estate news
Week of November 16, 2020

Over one-half of renters, one-third of homeowners aren’t sure they can pay next month’s housing payment
Homeowners and renters are deeply insecure about their finances in 2020.

New Bill Provides Additional Incentives for Affordable Housing Developers
California lawmakers work to induce developers to increase the number of affordable housing units.

Rate of unbanked households to rise in 2020
The FDIC expects the number of unbanked households to rise in 2020-2021 due to major income losses.

Homeownership remains elusive for young adults amid recession
A season of crises has forced a change of plans for many would-be Millennial and Gen Z homebuyers.

Word-of-the-Week: Elements of Value
DUST yourself off and watch our recap on the factors that appraisers use to determine a property's fair market value.

Brokerage Reminder: Grant deed vs. quitclaim deed – deeds of conveyance
Touch base with the basics — read our refresher on two types of deeds commonly used to convey real estate.

California home sales volume lays low
California homebuyers bucked sales cycle trends in September 2020, yielding a 5% bump in sales volume from the prior month.

The interplay between home sales, GDP and employment
California’s Real Gross Domestic Product rose by 4.6% in 2019, a steeper rise than the 3.5% GDP increase in 2018.

Current market rates
The average 30-year fixed rate mortgage rose to 2.84% in the week ending November 6, 2020.

Form udpates  form updates this month
 

NEW 15-Day Notice to Pay Rent with Required COVID-19 Declaration:

— Form 575: with rent-related fees, on defaults from March 1st to August 31st

— Form 575-1: without rent-related fees, on defaults from March 1st to August 31st

— Form 575-2: with rent-related fees, on defaults from September 1st through January 31st

— Form 575-3: without rent-related fees, on defaults from September 1st through January 31st

 

To access all updated forms, view our RPI Forms library here.
Click on Download the Full Forms Library to download our entire catalog.

 

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