The IRS issued guidance Thursday evening to grant deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway. Both of these programs are designed to promote economic growth in communities, and NAR made the case that investors in these programs should not be harmed due to the effects of COVID-19. 1031 Like-kind exchanges. If an investor has taken the first step of...
March numbers reflect a pause to the momentum of a healthy first Marty Schechter for CAR 303-882-4585 cell marty@schechterpr.com ENGLEWOOD, CO. – April 10, 2020 – From a cold and snowy Colorado February to the COVID-19 pandemic in March that has impacted virtually every person and every community, the state’s residential real estate market found a way to persevere with...
The Department of Regulatory Agencies Division of Real Estate recently issued updated guidance on practicing real estate during this pandemic. In this update, it is clarified that “Real estate appraisals and closings are considered critical services to complete real estate transactions. Further, home inspections and final walkthroughs after a buyer has signed a purchase contract and is therefore a condition precedent to the actual transfer...
We understand that the last 36 hours has resulted in a lot of confusion for real estate practitioners in Colorado regarding exactly which functions of a transaction are permitted under the state’s interpretation of essential services. The Colorado Association of REALTORS® continues to actively work to obtain clarification based not only on recent guidance issued by the Attorney General’s office, but also on statements made...
Denver-area REALTOR® Matthew Leprino spoke with CBS4 on ways REALTORS® are assisting clients in the face of the COVID-19 pandemic. "Nowadays don’t just happen via title companies anymore. They’re occurring via remote notaries and curbside closings and you’re signing papers in your car and handing them back,” he said. "March-April is really our highest inventory and really our craziest time...
Fox31 spoke with Denver-area REALTOR Grant Muller after he helped a client close on a home shortly after being diagnosed with COVID-19. "We had to scramble a little bit but I thought, 'What if we could get a power of attorney to sign on the buyer's behalf?'" Muller said. Muller's solution to the challenge worked out for both buyer and seller....
With the continually evolving COVID-19 circumstances that are impacting all of our personal and professional lives, the Colorado Association of REALTORS® staff and leadership team are committed to providing you with timely, factual information throughout this crisis. CAR has been in communication with the Attorney General’s office and has learned that the Third Updated Public Health Order 20-24 that was issued in conjunction with the Stay...
On March 20, 2020, Colorado Governor Jared Polis issued Executive Order D 2020 012, which, among other things, temporarily limits evictions, foreclosures, and public utility disconnections, providing support to unemployed Coloradans affected by the COVID-19 pandemic. The COVID-19 pandemic has impacted Coloradans in a variety of ways, including some Coloradan's ability to meet the financial obligations related to housing. In response, Governor Polis...
It is with deep sadness that we lost Pat Teck, the long-time former Executive Director of the Grand Junction Board of REALTORS® and Greeley Area REALTOR® Association, this morning after a sustained illness. Pat will be missed dearly. We send our condolences to her husband Ron Teck and the rest of her family and the members of the Grand Junction Board of REALTORS®. We will share more information...
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law on March 27, 2020, provides relief to families, small businesses, and individuals who are self-employed and independent contractors, including REALTORS® and brokerages. Paycheck Protection Program (PPP) Late on April 2, the SBA released its interim final rule on the SBA 7(a) Paycheck Protection Program loans, created by the CARES Act. Small businesses and...