Colorado REALTOR Covid-19 Information Portal
There are no words to describe the devastation that is already occurring within our communities, to the business environments we operate within, and the real estate industry. Your CAR leadership knows that the last few weeks have created a tumultuous environment that REALTORS® are now operating within while trying to do their best to broker transactions for their clients. The situation is changing on a daily basis and CAR will do everything we can to keep our members updated and informed.
CAR will continue to emphasize our member experience philosophy by providing additional opportunities that will help Colorado REALTORS® navigate the business environment created by the coronavirus and its unprecedented impact on all of our lives.
- New Developments and Updates
- Legal and Risk Management Resources
- Advocacy and Legislation
- Financial Help for Individuals and Businesses
- From Your CAR Leadership
- Important Resources
Real Estate Covid Update – August 30, 2021
There are no new updates from any Colorado government or health agencies regarding COVID restrictions at showings and open houses at this time. We are continuing to keep an eye on the situation and will update this page when information becomes available.
Real Estate Licensees Not Included in CDPHE Vaccine Discussion – August 30, 2021
In response to misinformation that has been circulated earlier today regarding alleged vaccine requirements for all licensed Colorado professionals, the Colorado Association of REALTORS® (CAR) has confirmed with the Department of Regulatory Agencies (DORA) that REAL ESTATE LICENSEES ARE NOT INCLUDED in the most recent Colorado Department of Public Health and Environment (CDPHE) mandatory vaccine requirement discussion or any vote that would require vaccination as a requirement to hold a professional license. Please read more on the CAR blog.
CAR Legal Bites – DORA FAQ Level Red Business – December 4, 2020
CAR General Counsel gives an update on FAQ email all REALTORS® should have received from the Division of Real Estate.
Links discussed:
Real Estate COVID-19 Dial Guidance and FAQ – Level Red – December 3, 2020
Effective November 28, 2020, Governor Jared Polis issued Executive Order D 2020 265, establishing directives for the COVID-19 Dial Framework due to the increased presence of COVID-19 in Colorado. The Executive Order combined Protect Our Neighbors, Safer at Home and in the Vast, Great Outdoors, and Stay at Home orders into this dial framework, which recognizes unique local circumstances and visualizes a community’s success in containing the spread of COVID-19. Each county or region is subject to corresponding directives based on its level on the dial.
COVID Dial Guidance and FAQ
DORA recognizes that these orders, while detailed, do not necessarily reach the level of specificity many of our regulated professions desire during this unprecedented period.
In an effort to provide not only additional clarity on industry and business-specific safety measures, but also to synthesize information from many state of Colorado sources, DORA has compiled the following guidance.
Colorado Secretary of State Adopts New Remote Notarization Rules – December 1, 2020
Today, the Colorado Secretary of State adopted amendments to Colorado Notary Program Rules, including remote notarization rules to implement Senate Bill 20-096. The rules will become temporarily effective on December 31, 2020, and then permanently effective 20 days after publication in the Colorado Register.
In the interim, the emergency remote notarization rules adopted on October 15, 2020, will continue to enable Coloradans to have access to notary services without in-person contact up to December 31, 2020.
For the Notice of Permanent and Temporary Adoption for the Colorado Notary Program Rules (8 CCR 1505-11), please click here. The notice includes the adopted rules, a statement of basis, and statement of justification. For an unofficial copy of the notary rules as adopted December 1, 2020 and effective December 31,2020, please click here.
For the Provider Protocols (December 1, 2020 version), standards that are incorporated by reference in the proposed rules, please click here.
The provider application will be available here. On December 15, 2020, the remote notary application, training and exam information, and updated FAQs will also be available on the Notary Program webpage. To access the remote notary application, notaries may login to their notary accounts.
If you have questions concerning the rulemaking, please email sos.rulemaking@sos.state.co.us.
Legal Bites – Open Houses in Level Red – Nov 20, 2020
CAR General Counsel Scott Peterson presents an update on Open Houses allowed in Level Red areas as of November 20, 2020.
Legal Bites: New COVID Update- Level RED – Nov 19, 2020
CAR General Counsel Scott Peterson gives an update on Covid-19 restrictions and Real Estate in Colorado as of November 19, 2020, in red-dial areas.
Other Links:
CAR Pens Letter to Governor Polis: Real Estate is Safe and Essential – November 18
After adhering to the critical health restrictions implemented across our state in the earliest weeks of the Covid-19 pandemic, REALTORS® across Colorado rose to the challenge to follow, create and implement the safe business practices necessary to fulfill the strong demand and needs of our state’s housing industry and the critical role it plays in our overall economic vitality.
In a letter to Governor Polis, CAR points out that REALTORS continue to transact safely, that housing remains an essential need, that real estate is an essential service, that homeownership continues to be an important source of wealth for many households, and that the real estate industry is driving a significant element of Colorado’s economy in the most uncertain, unpredictable circumstances.
Governor Announces New COVID Risk Level – Changes to Real Estate Activities Within Level Red – November 18
Gov. Polis announced a change to the state’s COVID-19 risk dial, changing the Red (Severe Risk) Level and adding a Purple (Extreme Risk) Level. The new dial will go into effect on Friday. However, several counties across Colorado have already begun moving into the Orange (High Risk) Level.
Level red has been updated to specifically provide that real estate showings are permissible as long as practitioners follow CDC and CDPHE guidelines.
Updated Tenant Notice About Eviction Moratorium – October 28
With the issuance of Executive Orders 223 and 227, the Division of Housing (DOH) has updated the Landlords’ Model Notification of Eviction Prevention Orders to account for both protections under the CDC Eviction Moratorium and the new state protections under Executive Order 227. Please note a tenant may provide the CDC’s declaration form in lieu of DOH’s Colorado Declaration form to demonstrate financial hardship due to COVID-19.
UPDATED FAQs: FREQUENTLY ASKED QUESTIONS for Tenants and Landlords
Executive Orders 223 and 227 also necessitate updates to the Frequently Asked Questions (FAQs) for Landlords and Tenants. The FAQs provide the latest answers to questions such as:
- Do I owe rent while the CDC or State of Colorado order prevents me from being evicted?
- When can evictions begin again?
- What should I do if I can’t pay rent?
Colorado Secretary of State Commences Permanent Rulemaking and Extends Remote Notarization Emergency Rules Until December 30 – October 15
The Secretary of State’s remote notarization emergency rules have been extended and will remain in effect through December 30. These rules continue to enable Coloradans to have access to notary services without in-person contact.
Additionally, the Secretary of State issued a notice of permanent rulemaking to consider preliminary draft rules including proposed amended remote notarization rules necessary to implement Senate Bill 20-096.
The public is also invited to send feedback to the Secretary of State’s Office regarding the rulemaking process, including the proposed notary rules amendments. Those interested in participating can review the preliminary draft rules and submit written comments about the proposed permanent rules toSOS.Rulemaking@sos.state.co.us at any time prior to and during the hearing. The Secretary of State’s Office will redact apparent personal contact information, including home address, email address, and telephone number(s), from submissions before posting the information online, unless otherwise directed by the contributor. All written comments will be added to the official rulemaking record.
For the Notice of Temporary Adoption for the Colorado Notary Program Rules (8 CCR 1505-11), please click here. The notice includes the adopted rules, a statement of basis, and statement of justification. For an unofficial copy of the notary rules as adopted and effective 10/15/2020, please click here.
For the Notice of Permanent Rulemaking, including a statement of basis and preliminary draft rules, please click here. Additionally, to review a copy of working draft Provider Protocols, standards that are incorporated by reference in the proposed rules, please click here.
Safer at Home Guidance for Real Estate – October 12, 2020
On October 6, 2020, Governor Jared Polis, by Executive Order D 2020-213, extended many previously issued Orders that are referenced below.
On June 30, 2020, Governor Jared Polis by Executive Order D 2020 123, amended Executive Order D 2020 091, the “Safer at Home and in the Vast, Great Outdoors”, which is incorporated into the Colorado Department of Public Health and Environment’s (CDPHE) Tenth Amended Health Order 20-28, dated August 21, 2020, under the Safer at Home phase of the COVID-19 pandemic.
These Orders implemented a number of measures that allowed many Coloradans to return to work and recreation in the great outdoors while maintaining social distancing, it also allowed all Field Services, including real estate, to resume operations in accordance with the requirements of this Order including Appendix B. Real estate includes in-person real estate showings and marketing services which must adhere to Social Distancing Requirements with cleaning and disinfection between each showing. Open houses must follow the Indoor Event requirements in Section I.H.4 of this Order.
The goal remains to have most people stay at home as much as possible while allowing businesses to reopen under restrictions and guidance to ensure as much safety as possible for both employees and consumers. CDPHE is making the information contained in the Amended Public Health Order available via the Safer at Home webpage where you can access information by industry (see “Field Services & Real Estate”).
Governor Polis Signs Executive Order Allocating CARES Act Funds to DOLA to Supplement Housing Funding – October 9
Gov. Polis signed an Executive Order allocating available CARES Act funds to the Department of Local Affairs (DOLA) to supplement the funding provided by HB20-1410 for housing assistance to support those who have been economically impacted by COVID-19. The Governor also previously implemented the Task Force recommendation requiring landlords to provide notice of the Centers for Disease Control and Prevention (CDC) moratorium and a declaration form with any demand for rent and before initiating an eviction, in addition to a list of tenant resources.
Executive Order D 2020 223 includes:
- Continuation of the CDC notice requirement, including in Spanish, with DOLA’s notice template.
- Suspension of the assessment and accumulation of late fees and interest until December 31, 2020.
- Continuation of the 30-day extended period to cure for both commercial and residential evictions.
- Directs the Executive Director of DOLA to continue working with landlords to implement the model rent repayment agreements created by DOLA to assist individuals who are unable to pay rent because they have been impacted by financial hardship due to COVID-19.
- Encourages municipalities to remove limits on the number of unrelated persons who can live in a single household and on the number of days that hotel rooms may be occupied.
Governor Polis Extends Eviction Notice Order to 30 Days – August 10
Governor Polis issued an extension to an Executive Order requiring landlords to serve a 30-Day Demand for Rent or Possession. This new Order is in effect until Wednesday, September 9, 2020. Executive Order 2020-162 encourages property managers to take steps to limit evictions for tenants who have made a good faith effort to make rental payments or establish a repayment agreement. The Order, however, is not a ban on evictions.
For examples of payment agreements, Tschetter Sulzer Law Firm has made an array of resources available for property managers on their COVID Resource Page.
Gov. Polis Issues Executive Orders in Response to COVID-19 Pandemic – July 12
Among other Executive Orders, the Governor extended and amended an Executive Order ordering State agencies to help prevent evictions of tenants economically harmed by the COVID-19 pandemic.
Legal Bites – New Public Health Order: Open Houses – July 1
CAR General Counsel Scott Peterson gives an update on the Eighth Amended Public Health Order 20-28 “Safer at Home” issued on July 1, 2020 that allows for open houses under strict guidelines.
Eighth Amended Public Health Order 20-28 “Safer at Home” Allows for Open Houses Under Strict Guidelines – July 1
The new amended order, dated June 30, 2020, states: “All Field Services , including real estate, may resume operations, in accordance with the requirements of this Order including Appendix B . Real estate includes in-person real estate showings and marketing services which must adhere to Social Distancing Requirements with cleaning and disinfection between each showing. Open houses must follow the Indoor Event requirements in Section I.H.4 of this Order.”
Updated Tenant/Landlord FAQ from DOH – June 29
With the changing landscape of executive orders and federal laws, DOH is responding to numerous questions about evictions and foreclosures.
Industry Stakeholders Ask Governor Polis to Sign SB20-096 – June 23
CAR signed onto an industry stakeholder letter that asks Governor Polis to sign SB20-096 as a necessary replacement for remote notarizations. SB20-096 permits a notary public to perform a notarial act remotely on electronic documents. A notary public may notarize electronic documents for a remotely located individual so long as the notarial act occurs using an electronic system employing real-time audio-video communication, and the process conforms to rules adopted by the (SOS).
CAR Sends Letter To Governor Polis Requesting Allowance to Resume Responsible Open Houses – June 19
As with other marketing activities currently allowed, we believe that REALTORS® will be able to host open houses under specific health and safety guidelines that would allow an important element of real estate marketing to return to Colorado for the summer selling season and could be managed safely and responsibility by our industry participants. We hope that our industry has demonstrated its ability to responsibly adapt to the limitations necessary to assist in controlling this public health emergency.
Covid-19 Consumer Guides – June 18
Help homeowners who are facing financial challenges due to the coronavirus pandemic by sharing these consumer guides, which are available in English and Spanish.
SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program – June 17
The U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application.
Governor Polis Signs HB20-1421, Delinquent Interest Payments Property Tax – June 14
Gov. Polis signed HB20-1421, Delinquent Interest Payments Property Tax. The bill allows, upon approval of the county treasurer, a board of county commissioners or a city council of a city and county to temporarily reduce, waive, or suspend delinquent interest payments for property tax payments.
Governor Polis Signs D2020-101 – Ordering the Temporary Limiting of Certain Evictions to Provide Relief to Coloradans Affected by COVID-19 – June 13
Ordering the Temporary Limiting of Certain Evictions to Provide Relief to Coloradans Affected by COVID-19.
Legal Bites – COVID and NON-COVID Topics! – June 4, 2020
CAR General Counsel Scott Peterson talks about COVID and NON-COVID Topics!! Trust Account Rule Changes and DORA Investigations are discussed.
Safer at Home Guidelines for Short-Term Rentals – June 2
State-issued guidelines for short-term rentals including rental space and rules for property managers.
Legal Bites – COVID-19 Update as of May 22, 2020
CAR General Counsel Scott Peterson discusses the state’s the Safer at Home Order and what might be coming forward with regard to real estate.
Department of Local Affairs Provides Renters, Landlords Model Repayment Agreement – May 20
May 20, 2020 – The MODEL Repayment Agreement for Tenants and Landlords resides on the DOH Eviction and Foreclosure Prevention website, along with other resources for Coloradans who need help in meeting their financial obligations for housing. Those who have accumulated past due rent are encouraged to take advantage of the MODEL Repayment Agreement template as soon as possible.
FHFA Announces Payment Deferral as New Repayment Option for Homeowners in COVID-19 Forbearance Plans – May 13
The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac (the Enterprises) are making available a new payment deferral option. The payment deferral option allows borrowers, who are able to return to making their normal monthly mortgage payment, the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity.
Safer at Home FAQ’s for Real Estate – May 8
Friday, May 8, the Division of Real Estate distributed Safer-at-Home FAQs to licensees statewide. CAR had the opportunity to participate in the development of this document, which is good guidance specific to real estate.
Legal Bites – New Buyer & Seller COVID-19 Advisories – May 7
CAR General Counsel Scott Peterson discusses the state’s Safer at Home Order and Local County Updates as well as New Buyer & Seller COVID-19 Advisory Forms
Message from CAR Chair Janene Johnson – May 6
Your CAR leadership knows the past weeks have created a tumultuous environment for REALTORS® who trying to do their best to broker transactions for their clients. Here is a short message from 2020 Chair Janene Johnson. We encourage you to check with your local boards and associations for rules and regulations in your area.
CAR Signs Onto Stakeholder Letter Requesting Housing as Eligible Use of Coronavirus Relief Funds – May 4
The stakeholder letter requests that $2.1M (or 33%) of the State’s discretionary CDBG allocation be used to ensure that low-income Coloradans remain stably housed in order to attend to the health and economic recovery of their household. In addition, the group recommends that the State consider dedicating 10% ($160M) of its Coronavirus Relief Fund, in collaboration with local jurisdictions, to ensure that their local & federal funds in combination with Coronavirus Relief Fund and other State sources address a housing needs assistance gap of $291.8M.
Polis Amending and Extending Executive Orders Impacting Remote Notary Extensions and Eviction Orders – May 1
Amending and Extending Executive Orders D 2020 012 and D 2020 031 Limiting Evictions, Foreclosures, and Public Utility Disconnections and Expediting Unemployment Insurance Claim Processing to Provide Relief to Coloradans Affected by COVID-19.
Extending Executive Orders D 2020 019 and D 2020 030 Concerning the Temporary Suspension of the Personal Appearance Requirement for Notarization due to the Presence of COVID-19
MetroDPA Still Funding Down Payment Assistance – April 30
metroDPA remains open and continues successfully funding loans throughout the COVID-19 pandemic. metroDPA is sponsored by the City and County of Denver in conjunction with front range city and county governments in support of bringing the possibility of homeownership to our communities. click here to learn more.
Colorado Secretary of State’s Remote Notarization Emergency Rules Extended Until End of May – April 28
The Secretary of State’s remote notarization emergency rules have been extended and will remain in effect until May 30. These rules enable Coloradans to have access to notary services without in-person contact. At the end of March, Governor Polis issued an Executive Order that ordered the temporary suspension of the personal appearance requirement for notarial officers to perform notarizations due to the presence of coronavirus disease in Colorado and authorized the Secretary of State to adopt remote notarization emergency rules.
For the Notice of Temporary Adoption for the Colorado Notary Program Rules (8 CCR 1505-11), please click here. The notice includes the adopted rules, a statement of basis, and statement of justification. For an unofficial copy of the notary rules as adopted and effective 3/30/2020, please click here.
Updated REALTOR® Guidance – April 27
A lot of you are asking, can I show property in my area? The answer to that question depends on the county in which you live and work. While the state Order has transitioned to a Safer at Home policy that provides guidance for real estate showings (see the full Public Health Order 20-28), some counties have opted to extend their stay-at-home orders that may impact your ability to provide showings. These local health orders supersede the state’s Safer at Home mandates and guidelines which went into effect today. We highly encourage every REALTOR® to become familiar with the restrictions within their individual local/county executive orders and what it means for their real estate business.
We will continue to monitor and communicate with you about changes and/or additions to the executive orders in our state. In the meantime, if you have specific questions about your area, we encourage you to contact your local REALTOR® Association and your local government affairs teams for further definition on the restrictions in your area of the state. As you know, CAR does not work directly with individual counties across the state on local/county executive orders. CAR will continue to support its 32 local associations however, direct advocacy at the county/municipal level is best managed by local associations in your respective jurisdiction.
Watch the April 27 Legal Bites for More Information
Department of Local Affairs Grants $9.5M for Recovery-Oriented Housing, $3M in Housing Services for COVID-19 Relief – April 27
Governor Polis signed Executive Order D 2020 012 providing $3M to DOLA from the disaster emergency funds which is being used to address evictions and foreclosures, and provide short-term rental and mortgage assistance to low-income households in Colorado who are economically impacted by COVID-19. Information and assistance is available at the division’s COVID-19 website
SBA to Resume Accepting PPP Loans on Monday the 27th – April 24
The U.S. Small Business Administration (SBA) will again begin accepting applications for the Paycheck Protection Program (PPP) on Monday at 8:30 a.m. President Trump signed a bill Friday that provides $484 billion in more funding to respond to the COVID-19 pandemic, including $320 billion more for forgivable loans and $60 billion for Economic Injury Disaster Loans (EIDL). The bill also provides $75 billion in grants to hospitals and $25 billion to coronavirus testing.
RPAC Minute Featuring CAR CEO Tyrone Adams – April 22
CAR CEO Tyrone Adams gives an update on how RPAC dollars, CAR Staff, and CAR volunteers have been working hard to keep real estate open in Colorado during Covid-19.
Congress and White House Reach Deal for Additional Small Business Relief – April 22
Congress and the Trump administration have come to an agreement on a $484 billion deal that includes $321 billion for the Paycheck Protection Program, $60 billion for economic disaster assistance, $75 billion for hospitals and $25 billion for coronavirus testing. The Senate passed the bill Tuesday, and the House is set to vote Thursday. Learn about what this may mean to small businesses in the Denver Business Journal.
Safer at Home Policy Beginning April 27 Means Changes for Real Estate – CAR Issues Recommendation to Governor – April 21
Following Gov. Polis’ announcement to transition from Stay at Home guidelines to Safer at Home guidelines, including the loosening of some business and social activity restrictions beginning April 27, CAR proactively submitted recommendations to clarify essential real estate buying, selling and leasing activities and facilitate the appropriate and much needed opening of a pipeline of new real estate transactions to serve the demand and needs of a wide range of consumers, including those in delicate situations as a result of financial impacts, employment changes, family dynamic, and more.
The request, submitted to Gov. Polis, the Attorney General’s office, DORA, and the Division of Real Estate, recommended real estate Business Services, at a minimum, include the following activities:
– Scheduled listing appointments with prospective buyers, sellers, landlords or tenants where virtual meetings are not feasible.
– Placement of lockboxes and signage on property.
– Furniture staging and real estate still and virtual photography by licensees or professional photographers.
– Private, scheduled showings with no more than 3 people present in-home at any one time.
Federal Banking Regulators Unveil New Rule for Delaying Appraisals During Pandemic – April 15
Banks will now be able to postpone getting an appraisal on a residential or commercial property for up to 120 days after the mortgage closes under a new federal rule designed to help extend and streamline financing during the COVID-19 pandemic. The new rule will go into effect once it’s entered into the Federal Register, bypassing the normal comment period and 30-day implementation delay, and will remain in effect through the end of 2020.
Colorado Unemployment Site Accepting Claims for Self-Employed – April 14
Update as of April 12, 2020: The Colorado Unemployment systems has begun accepting claims for workers who are eligible for benefits related to the CARES Act, including those who are self-employed (retroactive as far back as February 2 or when your work stopped as a direct result of COVID-19). Programming is also underway for the Federal Pandemic Unemployment Compensation, which is $600/week additional benefit (retroactive to March 29).
Updated Guidance on Practicing Real Estate During this Pandemic – April 9
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 of property, is also considered to be an essential part of the real estate transaction. Elements that are fundamental to the real estate transaction are deemed essential to support market activity. However, showing a property or conducting an open house in-person during the COVID-19 pandemic shall be avoided as it violates the specific mandates of recently issued executive and public health orders.”
Today’s clarification is a direct result of CAR’s working relationship with the Governor, his staff, the Attorney General’s office, the Division of Real Estate, and the Division of Regulatory Agencies. CAR has been working tirelessly to ensure your opportunity to continue to conduct the essential services of your business within the established social distancing, safety and health mandates that are currently in place.
CAR Chair Update – April 9
Colorado Association of REALTORS® Chair Janene Johnson gives a brief update on CAR’s activity and the challenges of the state’s Stay at Home Order.
Clarity on Real Estate as Essential Business – April 8
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 during today’s press conference held by Governor Polis.
Stay at Home Order and Essential Services Interpretation – April 6
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 at Home order (Executive Order D 2020 017) does not consider in-person showings and open houses to be a critical business/service. According to the Attorney General’s office, only real estate transactions that actually transfer real property ownership (Closings) are permissible and even they must comply with the Social Distancing Requirements set forth in the Health Order.
Fair Housing considerations during COVID-19 Pandemic – April 6
The spread of COVID-19 has serious potential to adversely impact the fair housing and civil rights of individuals, particularly on the bases of race, national origin, and/or disability. For example, housing providers may refuse to negotiate with persons that the housing provider perceives, on the basis of race or national origin, to be associated with an area where a COVID-19 outbreak is prevalent.
CARES Act for Colorado REALTORS – April 3
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides relief to families, small businesses, and individuals who are self-employed and independent contractors, including REALTORS® and brokerages. Learn the difference between the Paycheck Protection Program, SBA Economic Injury Disaster Loans (EIDL) and EIDL Grants, and Pandemic Unemployment Assistance and how to apply.
State Announces Financial Support Resources for Colorado Businesses – April 2
Last week, the U.S. Congress passed a $2 trillion economic stimulus package called the CARES Act. It includes resources to help Colorado’s small businesses experiencing economic harm. A key portion of this Act is the Paycheck Protection Program, which allocates $349 billion in forgivable loans to help small businesses, independent contractors, and nonprofits meet payroll and rent needs. Businesses can begin applying for the loans on Friday, which will be given on a first-come, first-served basis. We strongly encourage you to review this federal program to see how this important economic resource can help your business.
NAR Offers Members TeleHealth to REALTORS® at No Cost in Response to COVID-19 Crisis – April 2
The National Association of Realtors® announced Wednesday that it will be
expanding access to Members TeleHealth at no cost to its members for those who register before April 15. The program comes as part of NAR’s larger ‘Right Tools, Right Now’ initiative – relaunched on March 27 – which is making numerous valuable resources available to the association’s 1.4 million members at reduced or no cost.
Impacts of Covid-19 on the Real Estate Market in Colorado – April 1
CAR Spokesperson Kelly Moye speaks with 9News (KUSA) about the impact Covid-19 has had on the Colorado real estate market and transactions.
Colorado Secretary of State’s Office to Implement Remote Notarization – March 28
Secretary Griswold issued emergency rules on Monday, March 30, setting forth the procedures and requirements for remote notarization in Colorado during this state of emergency. These rules address implementation of the remote notarization process while including protections against identity theft and fraud.
Real Estate Deemed Essential in Colorado – March 26
Today, Governor Polis and the Department of Public Health and Environment has released an updated public health order in accordance with yesterday’s executive order implementing a statewide stay-at-home order, in effect from March 26 through April 11, 2020.
The public health order was updated to include a number of critical services that includes Professional Services, such as legal, title companies, or accounting services, real estate appraisals and transactions.
Transaction Guidance During COVID-19 – March 25
In deciding how to address new issues that may come up in your day-to-day business, we urge you to find answers that will ensure first-class services to your clients, while also demonstrating care for the health and well-being of clients, agents, and the greater public welfare in reducing the risk of exposure to and spread of COVID-19.
NAR’s Shelter-in-Place Guidance – March 25
This document produced by NAR explains shelter-in-place orders, how they might impact real estate business, and includes a checklist for brokers.
Announcement from The Appraisal Foundation – March 25
The Appraisal Standards Board, Fannie Mae, Freddie Mac, and the Federal Insurance Deposit Corporation recently issued new guidance. In an effort to keep appraisers fully informed of the latest developments, The Appraisal Foundation is sending the new guidance directly to you. The Foundation is compiling all coronavirus-related information on Coronavirus and Appraisers: Your Questions Answered, dedicated page at appraisalfoundation.org
Homeowner Association Guidance from DORA – March 24
The Colorado HOA Information and Resource Center is recommending that association boards assess good governance policies that continue to advance your organization and members by considering a moratorium for collection activities, late fees, liens, and foreclosures during this unprecedented time. This not only follows the spirit of Governor Jared Polis’s March 20th Executive Order D 2020 012, Limiting Evictions, Foreclosures, and Public Utility Disconnections, but will allow for our neighbors to take care of their basic health and food necessities until this national emergency is under control, our small businesses can reopen, and our neighbors can return to work.
Freddie Mac Bulletin 2020-5, Selling Guidance Related to COVID-19 – March 23
On March 23, 2020, Freddie Mac issued Bulletin 2020-5, Selling Guidance Related to COVID-19, which contains temporary guidance on appraisal requirements. Under the guidance, lenders will be allowed to use desktop appraisal and exterior only appraisals for purchase transactions through May 17, 2020. Freddie Mac has also provided language that the appraiser must copy and paste into their report in order to accommodate the revised scope of work, statement of assumptions and limiting conditions, and certifications for some of the scenarios presented.
Executive Orders Impacting Real Estate Business
EXECUTIVE ORDER – Ordering Colorado Employers to Reduce In-Person Workforce by Fifty Percent Due to the Presence of COVID19 in the State – March 22
On Sunday, Governor Jared Polis ordered employers at non-critical workplaces to decrease in-person workforces by at least 50%. The executive order directs all employers to implement tele-work options to the greatest extent possible. If telecommuting is not an option, businesses are encouraged to work in shifts and stagger employee schedules to reduce the number of workers who come in contact with each other.
EXECUTIVE ORDER Limiting Evictions, Foreclosures, and Public Utility Disconnections and Expediting Unemployment Insurance Claim Processing to Provide Relief to Coloradans Affected by COVID-19 – March 20
On Sunday, Governor Jared Polis announced that the state will be taking action to provide relief from evictions, foreclosures, and utility shut-offs. The Governor is directing the Department of Regulatory Agencies (DORA) to work with state-chartered financial institutions to address the threat of residential and commercial foreclosures and displacement. The Governor is requesting that municipal and county governments refrain from using law enforcement to carry out evictions or foreclosures unless there is a threat to public safety. He is also encouraging banks, credit unions, and other financial institutions holding residential or commercial mortgages to follow the lead of the Federal Housing Finance Agency and halt foreclosures and related evictions that are due to income reductions because of the COVID-19 pandemic. In addition, the Governor is requesting these financial institutions consider providing a 90 day deferment of payment for all consumer loans, including residential and commercial mortgages, refinances, auto loans, and student loans, and small business loans. The state is also requesting that all public utilities suspend service disconnections for delayed or missed payments from residential and small business consumers.
Shelter-in-Place and Stay-at-Home Orders (updated March 26, 2020)
The state of Colorado has issued a “Stay-at-Home” Order effective Thursday, March 26, 2020 until April 11, 2020, unless extended.
Jefferson County has issued a “Stay-at-Home” Order effective Thursday, March 26, 2020 until April 17, 2020, unless extended.
The Tri-County Health Department (Serving Douglas, Arapahoe, and Adams Counties) has issued a “Stay-at-Home” Order, effective Thursday, March 26, 2020 until April 17, 2020, unless extended.
The City of Denver has issued a “Stay-at-Home” Order effective Tuesday, March 24, 2020, until April 10, 2020, unless extended.
The City of Boulder has issued a “Stay-at-Home” Order effective March 24, 2020, until April 10, 2020, unless extended.
Pitkin County Public Health has issued a “Stay-at-Home” Order that includes all cities and towns within the county, effective March 23, 2020, until April 17, 2020, unless extended.
