ADVERTISING SUPPLEMENT Congress Passes Second COVID-19 Relief Package Scammers Pretend to be DRE Employees, Demand Payments The Department of Real Estate on Dec. 18 warned real estate licensees about a scam that targets real estate brokers and salespersons. As part of the scheme, scammers identify themselves as DRE investiga- tors or staff members who then notify the licensees that they are under investigation, or subject to a citation or other disciplinary action, and must pay DRE to clear their real estate license. They will demand that the licensee immediately wire money, claiming it will go to DRE, but it actually ends up in the hands of the scammers. In some instances, the scammers may identify themselves as law enforce- ment and make similar demands. The scammers also may be "spoofing" DRE telephone numbers to make the calls seem legitimate. In at least one instance, a licensee was contacted by a person claiming to be a DRE employee who advised them that they had to pay a fine for an instance of forgery DRE found. The scammer then directed the licensee to go to a money transmitter and wire payment im- mediately. The licensee went to do that: luckily, they were stopped by an alert money transmitter who advised them it was likely a scam. To avoid becoming a victim, the DRE advised licensees that: DRE staff will never contact a licensee and demand money or payment without a formal administrative action being filed against the licensee. If a license is subject to discipline, DRE will send a formal document - such as an accusation or citation- via certified mail to the address on-record with DRE; DRE will never ask or require a licensee to wire money; If a fine or penalty payment is issued by the DRE, the payee must be the "Department of Real Estate."A DRE payment is never made to an individual; If a licensee receives an email or telephone call from a person claiming to be a DRE staff member, do not provide them with any personal information. Instead, contact DRE call center at 1-877-373- 4542 and follow the prompts to speak to an investigator. DRE will be able to confirm whether or not the person who contacted the licensee was indeed a DRE employee. If the phone number of the caller appears to be a DRE number, report the scam to the Federal Communica- tions Commission at: https://consumercomplaints.fcc.gov/hc/en- us/ articles/115002234203-Unwanted-Calls-Phone- And, if a licensee can confirm that the person making the call is a scammer, contact a local law enforcement agency to report a crime. Soutiand Regonal Association of Reators By Nancy frovel Camahan, Presdert, and David Waler Congress has passed a $900 billion stimulus bill that will pro- vide direct payments and ad- ditional unemployment benefits to struggling Americans and badly needed funds for housing providers and small business- es, including Realtors. SOUTHLAND REGIONAL AssoCIATION OF REALTORS', INC. Voice of Real Estate 2020 As of this writing, it was unclear if Presi- dent Trump would sign the 1920 begin rolling out before the end of the year, but will take time to get to all eligible recipients. Paycheck Protection Program Allow use of PPP funds to cover purchase of Personal Protective Equipment for employees and certain other expenses not eligible for the DRE Industry Advisory measure. Realtors long have advocated Provide an additional $284 billion | first round of PPP loans. for many of the provisions that would provide Nancy Trovel Camahan, meaningful Eviction Realtors have advocated for many Moratorium of the provisions that would provide meaningful relief & Rental As- sistance Provide $25 billion to states and local govermments for rental assistance. Allow landlords to directly apply SRAR 2020 President relief, including extensions of Pandemic Unemploy- ment Assistance benefits and addi- tional forgivable Paycheck Protection Program loans. The proposed law will also provide direct payments of $600 to some Americans and rental assistance. Specifically, the laro will: Unemployment Benefits and for PPP loans. Allow certain eligible businesses to receive a second PPP loan of up to $2 million. To qualify for a "PPP second draw," moratorium through Jan, 31, 2021. businesses, independent contractors and other self-employed persons must have 300 or fewer employees, have used or will use the full amount of their first PPP loan, and be able to demonstrate at least a 25 percent reduction in gross receipts in any quarter of 2020 compared to the same quarter in 2019. Create a simplified forgiveness process for PPP loans up to $150,000, for the funds. Extend the CDC's eviction California's eviction moratorium already extends through Jan. 31, 2021. For more information on these and other financial relief programs, see the Realtor Relief page on the California Association of Realtors' coronavirus microsite. The Southland Regional Association of Real tors is a local trade association with more than 10,300 members serving the San Fer nando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. Direct Payments Allow an individual to receive un- employment benefits-traditional or PUA - for up to 50 weeks, through March 13, 2021 in Califormia. Provide an additional $300 a week in federal unemployment ben- efits for individuals receiving PUA or traditional unemployment compensa- tion for 11 weeks, beginning Dec. 27 and ending March 13, 2021, in Califomia. the 2020 chair of the Santa Clarita Valley Division of SRAR. "Holidays typically have an impact, along with the new stay-at-home directives, but the lack of inventory is the primary limitation on Santa Clarita home sales, not Santa Clarita November Home Provide a one-time direct pay- ment of $600 for individuals making up to $75,000 and $1,200 for couples making up to $150,000, as well as an extra $600 per eligible child depen- Sales Up 46%, Condos Rise 24% the absence of buyers." Even as seasonal forces begin to moderate activity, sales of homes and condominiums in the Santa Clarita Valley remained well above year-ago levels, riding a surge of homebuying interest prompted by the pandemic and interest rates that continue to dip lower, the Southland Regional Association of Realtors reported recently. A total of 256 single-family homes closed escrows last month, up 45.5 percent compared to November 2019, though down 14.4 percent from this October. Sales have been above 200 every month since dipping to 111 in May as a result of stay-at-home orders, with October coming one sale away from the 300-sale benchmark, a feat not seen since 2005. While down 18.7 percent on a month-to- month basis as the year draws to a close and supply tightens, the 87 condomini- ums that changed owners were 24.3 percent higher than a year ago,. "Record low interest rates enable many buyers to offset some of the rise in prices and buy more house than would otherwise be possible," said Louisa Henry,| 2.6-month supply was well short of what the market needs." The Association reported 296 active listings throughout Santa Clarita, a decline of 215 percent from November 2019 and a mere 0.9-month supply at the current pace of sales. A 5- or 6-month supply is optimal. The inventory has been below a 1-month tally for the last five months, a statistic not seen in any other months since the Associa- tion began collecting the data in 2007. For perspective, the record high total came in 2006 with 2,630 listings while the record low was set last December at 293 listings. "The cconomic shutdown in May gave the inventory a chance to catch up slightly," said Tim Johnson, the Associationis chief executive officer. "The key word is Slightly, 'because May had Santa Clarita's highest inven- tory total of 426 for the year, with every month since falling lower. Even May's dent. If signed, payments are expected to Interest Rate Update As reported by Freddie Mac orc Louisa Henry, 2020 Chair, Santa Clarita Division Council December 17 30 Yr FRM 2.67% 15-Yr FRM 2.21% December 10 30-Yr FRM 2.71% 15-Yr FRM - 2.26% THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics. ADVERTISING SUPPLEMENT Congress Passes Second COVID-19 Relief Package Scammers Pretend to be DRE Employees, Demand Payments The Department of Real Estate on Dec. 18 warned real estate licensees about a scam that targets real estate brokers and salespersons. As part of the scheme, scammers identify themselves as DRE investiga- tors or staff members who then notify the licensees that they are under investigation, or subject to a citation or other disciplinary action, and must pay DRE to clear their real estate license. They will demand that the licensee immediately wire money, claiming it will go to DRE, but it actually ends up in the hands of the scammers. In some instances, the scammers may identify themselves as law enforce- ment and make similar demands. The scammers also may be "spoofing" DRE telephone numbers to make the calls seem legitimate. In at least one instance, a licensee was contacted by a person claiming to be a DRE employee who advised them that they had to pay a fine for an instance of forgery DRE found. The scammer then directed the licensee to go to a money transmitter and wire payment im- mediately. The licensee went to do that: luckily, they were stopped by an alert money transmitter who advised them it was likely a scam. To avoid becoming a victim, the DRE advised licensees that: DRE staff will never contact a licensee and demand money or payment without a formal administrative action being filed against the licensee. If a license is subject to discipline, DRE will send a formal document - such as an accusation or citation- via certified mail to the address on-record with DRE; DRE will never ask or require a licensee to wire money; If a fine or penalty payment is issued by the DRE, the payee must be the "Department of Real Estate."A DRE payment is never made to an individual; If a licensee receives an email or telephone call from a person claiming to be a DRE staff member, do not provide them with any personal information. Instead, contact DRE call center at 1-877-373- 4542 and follow the prompts to speak to an investigator. DRE will be able to confirm whether or not the person who contacted the licensee was indeed a DRE employee. If the phone number of the caller appears to be a DRE number, report the scam to the Federal Communica- tions Commission at: https://consumercomplaints.fcc.gov/hc/en- us/ articles/115002234203-Unwanted-Calls-Phone- And, if a licensee can confirm that the person making the call is a scammer, contact a local law enforcement agency to report a crime. Soutiand Regonal Association of Reators By Nancy frovel Camahan, Presdert, and David Waler Congress has passed a $900 billion stimulus bill that will pro- vide direct payments and ad- ditional unemployment benefits to struggling Americans and badly needed funds for housing providers and small business- es, including Realtors. SOUTHLAND REGIONAL AssoCIATION OF REALTORS', INC. Voice of Real Estate 2020 As of this writing, it was unclear if Presi- dent Trump would sign the 1920 begin rolling out before the end of the year, but will take time to get to all eligible recipients. Paycheck Protection Program Allow use of PPP funds to cover purchase of Personal Protective Equipment for employees and certain other expenses not eligible for the DRE Industry Advisory measure. Realtors long have advocated Provide an additional $284 billion | first round of PPP loans. for many of the provisions that would provide Nancy Trovel Camahan, meaningful Eviction Realtors have advocated for many Moratorium of the provisions that would provide meaningful relief & Rental As- sistance Provide $25 billion to states and local govermments for rental assistance. Allow landlords to directly apply SRAR 2020 President relief, including extensions of Pandemic Unemploy- ment Assistance benefits and addi- tional forgivable Paycheck Protection Program loans. The proposed law will also provide direct payments of $600 to some Americans and rental assistance. Specifically, the laro will: Unemployment Benefits and for PPP loans. Allow certain eligible businesses to receive a second PPP loan of up to $2 million. To qualify for a "PPP second draw," moratorium through Jan, 31, 2021. businesses, independent contractors and other self-employed persons must have 300 or fewer employees, have used or will use the full amount of their first PPP loan, and be able to demonstrate at least a 25 percent reduction in gross receipts in any quarter of 2020 compared to the same quarter in 2019. Create a simplified forgiveness process for PPP loans up to $150,000, for the funds. Extend the CDC's eviction California's eviction moratorium already extends through Jan. 31, 2021. For more information on these and other financial relief programs, see the Realtor Relief page on the California Association of Realtors' coronavirus microsite. The Southland Regional Association of Real tors is a local trade association with more than 10,300 members serving the San Fer nando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. Direct Payments Allow an individual to receive un- employment benefits-traditional or PUA - for up to 50 weeks, through March 13, 2021 in Califormia. Provide an additional $300 a week in federal unemployment ben- efits for individuals receiving PUA or traditional unemployment compensa- tion for 11 weeks, beginning Dec. 27 and ending March 13, 2021, in Califomia. the 2020 chair of the Santa Clarita Valley Division of SRAR. "Holidays typically have an impact, along with the new stay-at-home directives, but the lack of inventory is the primary limitation on Santa Clarita home sales, not Santa Clarita November Home Provide a one-time direct pay- ment of $600 for individuals making up to $75,000 and $1,200 for couples making up to $150,000, as well as an extra $600 per eligible child depen- Sales Up 46%, Condos Rise 24% the absence of buyers." Even as seasonal forces begin to moderate activity, sales of homes and condominiums in the Santa Clarita Valley remained well above year-ago levels, riding a surge of homebuying interest prompted by the pandemic and interest rates that continue to dip lower, the Southland Regional Association of Realtors reported recently. A total of 256 single-family homes closed escrows last month, up 45.5 percent compared to November 2019, though down 14.4 percent from this October. Sales have been above 200 every month since dipping to 111 in May as a result of stay-at-home orders, with October coming one sale away from the 300-sale benchmark, a feat not seen since 2005. While down 18.7 percent on a month-to- month basis as the year draws to a close and supply tightens, the 87 condomini- ums that changed owners were 24.3 percent higher than a year ago,. "Record low interest rates enable many buyers to offset some of the rise in prices and buy more house than would otherwise be possible," said Louisa Henry,| 2.6-month supply was well short of what the market needs." The Association reported 296 active listings throughout Santa Clarita, a decline of 215 percent from November 2019 and a mere 0.9-month supply at the current pace of sales. A 5- or 6-month supply is optimal. The inventory has been below a 1-month tally for the last five months, a statistic not seen in any other months since the Associa- tion began collecting the data in 2007. For perspective, the record high total came in 2006 with 2,630 listings while the record low was set last December at 293 listings. "The cconomic shutdown in May gave the inventory a chance to catch up slightly," said Tim Johnson, the Associationis chief executive officer. "The key word is Slightly, 'because May had Santa Clarita's highest inven- tory total of 426 for the year, with every month since falling lower. Even May's dent. If signed, payments are expected to Interest Rate Update As reported by Freddie Mac orc Louisa Henry, 2020 Chair, Santa Clarita Division Council December 17 30 Yr FRM 2.67% 15-Yr FRM 2.21% December 10 30-Yr FRM 2.71% 15-Yr FRM - 2.26% THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics.