Industry announcements

Tila Cota Completes Brokers Association Commercial Real Estate Certificate Program

Tila Cota, a Broker Associate in the San Diego Central office of Berkshire Hathaway Homeservices California Properties, has added another professional certification to her impressive lineup of accomplishments. She has completed the Brokers Association (CBA) Commercial Real Estate Certificate program, a one-year series of immersive courses that cover many advanced commercial real estate topics.

“Our company is proud to support Tila in her continued real estate educational efforts that advance her skills in commercial and residential real estate,” Branch Manager Chris Fryson said. “She is a true asset to the Berkshire Hathaway Homeservices California Properties agent network, who continues to provide added value to her clients by investing in educational pursuits that ultimately work to their benefit.”

PSAR offers notary course

The Pacific Southwest Association of Realtors (PSAR) will host a California notary public webinar course on Tuesday, Oct. 27 over the Zoom online meeting platform. The class to renew a notary commission or become a new notary, held from 9 a.m. to 3 p.m., will cover the latest laws and regulations, along with the fundamentals of jurats affidavits, fingerprinting, forms of identification and sown statements. Cost for the course if $99. Instructor is from Duane Gomer, Inc., an approved notary education vendor with the California Secretary of State. For more information and to RSVP, call PSAR at (619) 421-7811 or visit www.psar.org.

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.

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.

1M homes sold, most since 2006

The Pacific Southwest Association of Realtors (PSAR) recently noted that home sales nationwide exceeded 1 million in August 2020, according to the U.S. Census Bureau and Department of Housing and Urban Development. Sales totaled 1,011,000, a 43.2 percent increase since August 2019, 4.8 percent compared to July 2020 and a record high not seen since 2006. “Considering declining, low inventory levels, few would have guessed that more homes would be sold this summer than last summer,” said realtor Robert Cromer, 2020 PSAR President. “The jobs market is improving and homebuyers are taking advantage of low mortgage rates. Plus, some of them are moving to find more space to attend school virtually and work from home.”

Survey: A good time to sell

The Pacific Southwest Association of Realtors (PSAR) reports a recent housing sentiment survey conducted in September 2020 revealed that 58 percent of California consumers believe it’s a good time to sell a home, which was up from 54 percent in August 2020 and up from 46 percent in September 2019. The survey of 1,000 Californians conducted by the California Association of Realtors (CAR) also said low interest rates are fueling optimism for home buying. The survey found 34 percent of respondents believe now is a good time to buy a home, which was sharply higher than last year when only 22 percent said it was a good time to buy.

PSAR training on Zipforms software

The Pacific Southwest Association of Realtors’ (PSAR) Tech Committee, chaired by realtor Mike White, will present a free webinar titled “Zipforms Tips and Tricks” from 11:30 a.m. to 1 p.m., Wednesday,

Oct. 28. The webinar, to be presented over the Zoom online meeting platform, will cover Zipforms, a software platform that helps realtors complete contracts and manage transactions more efficiently. A new, updated Zipforms offers new tools, including templates, clause manager and MLS Connect. All San Diego-area realtors, regardless of association membership, are invited to participate in the free webinar. The class will feature both demonstration and hands-on Q&A. For registration information, call PSAR at (619) 579-0333 or visit www.psar.org.

PSAR hosts property management update

The Pacific Southwest Association of Realtors (PSAR) will host a live property management update webinar from 9 to 11 a.m., Friday, Oct. 30 over the Zoom online meeting platform. Speakers will include PSAR realtor members Brad Wilson, Mark Scott and Eric Sutton, along with Molly Kirkland, public affairs director, Southern California Rental Housing Association (SCRHA), formerly the San Diego County Apartment Association, and Tracey Merrell, managing attorney of education with the law firm of Kimball, Tirey & St. John. Information will include the latest on justcause evictions, rent cap restrictions, price gouging laws and Covid-19-related eviction guidelines (AB 3088, the Tenant Relief Act). Registration information is available at 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, fixed-rate 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.”

Tila Cota