Industry announcements

PSAR offers Zipforms training

The Pacific Southwest Association of Realtors (PSAR) will present a Zipforms Plus training session for realtors from 10 a.m. to noon, Monday, Oct. 19, over the Zoom online meeting platform. There is no cost to participate in the Zoom meeting. Instructor will be Jan Farley, 2018 PSAR president and certified Zipforms instructor. Zipforms is a software platform that helps realtors complete contracts and manage transactions more efficiently. A new, updated Zipforms Plus interface offers new tools, including templates, clause manager and MLS Connect, which can save time and protect realtors from making mistakes. For information, visit www.psar.org.

Homes sold in 8 days in August

The Pacific Southwest Association of Realtors (PSAR) reports eight days was the median number of days it took to sell an existing, single-family home in San Diego County in August, compared to 17 days in August 2019. PSAR said the housing market has rebounded from the earlier Covid-19 pandemic that depressed California’s housing market. Citing a recent California Association of Realtors (CAR) report, PSAR said the eight-day figure compares to 10 days in July 2020, 12 days in June 2020, 11 days in May 2020, eight days in April 2020 and 10 days in March 2020. Statewide, the median number of days an existing, single-family home remained unsold on the market was 13 days in August 2020, down from 23 days in August 2019.

PSAR updates brokers with DRE commissioner

The Pacific Southwest Association of Realtors (PSAR) will host a free live virtual Zoom meeting with Doug Mccauley, commissioner, California Department of Real Estate (DRE), and Jeff Smetana, assistant general council, California Regional Multiple Listing Service (CRMLS), from 12:30 to 3:30 p.m., Thursday, Oct. 22. Advanced registration is required. The meeting is open to all San Diego County brokers and office managers, regardless of association membership. Moderator will be broker Nikki Coppa, a National Association of Realtors (NAR) committee chair and California Association of Realtors (CAR) director. Discussion topics will include risk management, outreach updates, enforcement, DRE changes and future opportunities to raise the bar of real estate professionalism in the county. For more information, call (619) 421-7811, or visit www.psar.org.

3 percent mortgage, lowest rate ever

The Pacific Southwest Association of REALTORS® reported a recent Mortgage Bankers Association (MBA) survey said that interest rates for a 30-year, fixedrate mortgage have hit 3.05 percent, the lowest ever recorded by MBA. The MBA weekly survey looks at conforming mortgages valued at $510,400 or less. “These ultralow interest rates are drawing buyers into the market,” said realtor Sean Hillier, a PSAR board member. “Some buyers are accelerating purchase plans or considering homeownership for the first time to get more living space as they anticipate working from home for the long term. Inventory levels are historically low with an extreme drought of previously owned homes for sale, but it hasn’t stopped buyers from looking.”

Warning about predatory lending

The Pacific Southwest Association of Realtors (PSAR) reports that homeowners, spurred by abnormally low interest rates, are poised to go on another binge of borrowing and feverish refinancing. However, consumers should be cautious to avoid predatory lenders who offer bargain loans and easy credit with aggressive sales tactics, inflated interest rates and outrageous fees. “You’ve got to be careful, especially when borrowing against your home,” said realtor and real estate office owner Norma Scanlin, a current PSAR board member. “Shop around, ask questions, slow down and never act quickly. Vigilance is the best defense against fraud.” AARP said aggressive, dishonest lenders peddling unaffordable loans will target people who have fallen behind on property taxes and may need money for medical bills or costly home repairs.

Getting ready for a move

The Pacific Southwest Association of Realtors (PSAR) recently noted that planning ahead and organization are keys to success for homes sellers preparing for a move. PSAR said consumers can benefit from listening to their realtor who has knowledge and experience with anxious clients. “It’s best to sit down look together at a calendar to plan specific timeframes to achieve certain milestones,” said realtor Yvonne Cromer, a PSAR board member. “Moving typically means lots of sorting, purging and downsizing. It also means having a `I don’t know’ category to decide later about keep-or-toss, sell-or-cherish items. I’m always reminding my clients how happy they will feel once they’re settled in their new home.”

PSAR offers “warrior mindset” mixer

The Pacific Southwest Association of Realtors’ (PSAR) Young Professionals Network (YPN) group will host “Wine Down,” a free online evening mixer over Zoom, starting at 4 p.m., Friday, Oct. 16. The mixer will include networking and

“How to Build a Warrior’s Mindset,” a presentation from San Diego motivational speaker Sandra Gonzalez, who has 20 years of military experience. Her presentation will include inspiration on becoming warriors, not worriers, and how to build unshakeable confidence and mental toughness when dealing with change and adversity. YPN focuses on connecting and engaging the next generation of realtors with the tools and encouragement they need to succeed. For registration information, visit www.psar.org. For more event information about PSAR’S YPN, contact Kevin Mcelroy at kevin@psar.org, or call (619) 421-7811.

Home buying won’t fall in the fall

The Pacific Southwest Association of Realtors (PSAR) recently reported the normally active summer home buying season will continue into the fall months as prices remain high and homes are selling faster than ever. “Housing inventory is disappearing nearly as fast as it appears, even in a market with rising prices,” said broker Jason Lopez, a PSAR board member. “Buyers are motivated by low mortgage rates and a strong desire for the certainty of ownership during uncertain times.” According to Realtor.com, a home search service operated by the National Association of Realtors (NAR), listings declined in San Diego County by 43 percent, while home prices increased 4.8 percent as of early September in year-over-year comparisons.

Warning about mortgage fraud

The Pacific Southwest Association of Realtors (PSAR) recently reported that it is continually educating its members about protecting consumers against mortgage fraud, which can leave homeowners with “underwater” mortgages that are substantially higher than the valued price of their homes. “Mortgage phishing scams can be very sophisticated as con artists will attempt to divert closing costs and down payments to fraudulent accounts,” said mortgage lender Sam Calvano, a PSAR board member. Calvano recommends consumers should select a reputable PSAR member realtor to guide them through the home buying or selling process. In a recent Internet Crime Report, the FBI said victims lost more than $149 million annually as a result of fraud in real estate transactions.

PSAR helping DRE license renewals

The Pacific Southwest Association of Realtors (PSAR) will host a live virtual webinar course for the California Department of Real Estate (DRE) sales license renewal from 10 a.m. to 1 p.m., Thursday, Oct. 15. The course satisfies license renewal requirements for all California real estate salespersons and brokers. It also is DRE approved for continuing education credit. The three-hour session will cover the mandatory license topics, including agency, ethics, trust funds, fair housing, risk management, property management, mortgage lending and supervision, as well as instructions on how to take the exam online. Instruction is from Duane Gomer Seminars, Inc. Cost to attend is $89 for members and $109 for non-members. For more information, call (619) 421-7811, or visit www.psar.org