Financial Institutions have been tightening up on lending in recent weeks due to the COVID-19 pandemic, and home equity lines of credit have become the most recent target. JPMorgan Chase and Wells Fargo are the latest bank giants to announce that they will no longer be accepting applications for new HELOCs. The change does not impact the bank’s existing home equity customers.
Nearly 3 in 4 REALTORS currently working with sellers this week – 74% – reported their clients haven’t reduced listing prices to attract buyers according to a new survey from the National Association of REALTORS. This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain economic environment brought about by the coronavirus pandemic.
The Missouri Department of Labor and Industrial Relations’ (DOLIR’s) Division of Employment Security (DES) is now processing unemployment claims for the self-employed, gig workers, independent contractors, and those who otherwise do not qualify for regular unemployment benefits and have been impacted by the coronavirus.
With an expected slowdown in spring real estate business activity, many REALTORS remain hopeful for a post-pandemic market rebound, according to a new survey from the National Association of REALTORS. The majority of REALTORS believe buyers and sellers will return to the market as delayed transactions following the end of the health crisis.
During this unprecedented time, the National Association of REALTORS® understands that access to health care options may be top of mind for members. Telemedicine is playing an essential role today as we navigate uncharted territory and the need for virtual healthcare.
Yesterday, Friday, April 3rd, Missouri Govenor Mike Parson issued a “Stay At Home” order for the entire State of Missouri which goes into effect at 12:01 am, Monday April 6, 2020 and runs until 11:59 pm April 24, 2020. The order says that Missouri Residents “shall avoid” leaving their homes or places of residence.
In light of the challenges presented by COVID-19, and its impact on the real estate industry, NAR is taking steps to support members through these uncertain times. The Right Tools, Right Now initiative, which was activated once before in 2009, makes new and exciting NAR products and services available for FREE or at significant discounts–right now–and is available to REALTORS.
Yesterday, Saturday, March 21st, Missouri Gov. Parson issued an order limiting gatherings to 10 people or less. In St. Charles County gatherings over 10 people are subject to a $1,000 fine. Please use care when showing property or holding open houses. Be sure to consult with your seller before determining a course of action in regards to showings or open houses.
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