Tag Archives: Mt Kisco Homes

Building materials prices up 19% | Mt Kisco Real Estate

According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 0.5% in April, following upwardly revised increases of 1.9% and 2.4% in March and February, respectively. This adds up to an 4.9% increase in building materials prices since the start of 2022. Year-over-year, building materials prices are up 19.2% and have risen 35.6% since the start of the pandemic.

The price index of services inputs to residential construction registered a similar increase, rising 0.9% in April. However, the index was upwardly revised for March, causing the monthly increase to jump from 3.2% to 6.8% over the month. As a result, the price index of services used in home building (including trade services, transportation and warehousing) has climbed 13.3% since the start of the year. Year-over-year, the index has increased 18.1% and is up 45.6% since the start of the pandemic.

Softwood Lumber

The PPI for softwood lumber (seasonally adjusted) declined 15.6% in April following a downwardly revised 5.4% increase in March and a 2.5% gain in February. As a result, the index is down 8.9% over the first four months of 2022. Since reaching its most recent trough in September 2021, prices have risen 60.4%.

Steel Products

Steel mill products prices (NSA) climbed 2.4% in April–the first monthly increase since December 2021. Nonetheless, the first four months of 2022 have been positive for the cost of derivative steel products after increasing 128.0% in 2021.

Ready-Mix Concrete

The PPI for ready-mix concrete (RMC) resumed its upward trend after a small decline in March (-0.2%) as prices rose 1.3% (SA) in April. The index has climbed 8.9% year-over-year and is 12.6% higher than the January 2021 reading.

Gypsum Products

The PPI for gypsum products (SA) was flat in April. Year-over-year, the prices of gypsum products are 17.8% higher and have increased 23.5% since January 2021.

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eyeonhousing.org

Slowing Fourth Quarter Sales Did Not Derail Record 2021 Housing Market | Mt Kisco Real Estate

WHITE PLAINS—Residential sales in 2021 in the counties served by OneKey MLS, Inc. reached a historic peak. This, despite a slowing of sales in the fourth quarter in all areas served by OneKey MLS with the exception of Bronx County.

Arguably, some of the slowdown can be attributed to the dearth of inventory in the counties north of New York City, while the “Bronx Tale” is more closely aligned to a return of buyers to the New York City market.

While the view of the market in terms of units sold and dollar volume is a positive one, it was a frustrating arena for many buyers who lost homes to higher bidders and for the practitioners dealing with client frustration and disappointment.

Bronx County had the largest percentage increase in residential sales at 61.4% year-over-year with 2,553 units sold as compared to 1,582 sales for 2020. Total residential sales in the counties to the north were more in line with each other with Rockland County leading the group with an increase of 19.3% (3,631 units compared to 3,044 units in 2020); Westchester, a close second at 19.1% (11,855 units compared to 9,955 units for 2020); followed by Orange County with a 16% increase (5,406 residential sales compared to 4,662 sales in 2020); Putnam experienced a 10.6% increase over 2020 (1,605 units compared to 1,451) and Sullivan County had a 9.6% increase for 2021 (1,393 compared to 1,271 in 2020).

Sales of single-family residential units increased across the board with Bronx County sales increasing an eye-opening 45.8% (716 units vs. 491 units for 2020). The median price of a single-family residence in Bronx County increased 8.5% to $575,000. The largest percentage price increase for a single-family home occurred in Sullivan County with a 25.3% increase to $244,400 from $195,000 in 2020. Notably, Westchester County, with the highest prices in the region, had the smallest percentage increase in median price for the year at 6.1% ($780,000 as compared to $735,000 in 2020) and actually experienced a slight decrease (-0.8%) in median price for the fourth quarter. This may be indicative of price increases beginning to moderate.

Orange County has seen consistent increases in the single-family median price with a year-over-year increase of 16.5% ($367,000 compared to $315,000 in 2020). Orange County single-family home sales increased by 11.2 % for the year to 4,444 units (compared to 3,996 in 2020) despite a drop of 20.7% in the fourth quarter.

In Rockland County the single-family median sale price increased 12% to $560,000 (from $500,00 in 2020) and Putnam County saw its single-family median price rise 15.8% to $440,000 (from $380,000 in 2020).

In terms of percentages, condominium, multi-family (2-4 family), and in Westchester County, co-op sales as well, all outpaced the increases in single-family units and, in most instances, the percent of median price increase. In Westchester County, where co-op sales lagged in 2020, they increased 36.3% to 2,129 units (from 1,562 in 2020). Affordability is the most prevalent reason for these choices particularly in view of the price increases in single-family dwellings. For many suburban purchasers, condos and co-ops represent a means to build equity to purchase a single-family residence.

When focusing solely on the fourth quarter residential sales numbers, they reflect a return to the more typical seasonality in the market, which disappeared in the fourth quarter of 2021. While there were significant decreases in the number of residential sales in all counties, except the Bronx, when comparing the 2021 fourth quarter to the 2020 fourth quarter sales, it is important to remember that the fourth quarter 2020 sales were fueled by a surge in buying activity in the second half of 2020 once COVID-19 restrictions were lifted. A more realistic comparison would be to the fourth quarters of 2019 and 2018, and the 2021 fourth quarter residential sales numbers were significantly higher than either of those two years.

Indicators such as days on market were down significantly in all market areas. Homes selling close to or at list price and above list price were a relatively common event. Lack of inventory continues to be a problem with no meaningful resolution on the near horizon. With the Fed tightening monetary policy it is expected that mortgage rates will begin a steady rise in 2022. However, despite these headwinds, the real estate market in the New York City and greater suburban area, including the lower Hudson Valley, have shown remarkable resiliency in the last year and a half, and we expect a strong real estate market to continue into 2022.

With the exception of the second quarter of 2020, the real estate market has been an anomaly outperforming the economy. Sales and prices have enjoyed a trajectory which is likely unsustainable going forward, however the economy of the Hudson Valley continues to improve and grow more vibrant, which bodes well for real estate. It is likely that price increases will moderate and additional product will come on the market, which will sustain a strong market in the near term.

HGAR/OneKey® MLS 2021 Fourth Quarter Residential Real Estate Sales Report

Data provided by OneKey MLS, one of the largest Realtor subscriber-based MLS’s in the country, dedicated to servicing more than 46,310 real estate professionals that serve Manhattan, Westchester, Putnam, Rockland, Orange, Sullivan, Nassau, Suffolk, Queens, Brooklyn, and the Bronx. OneKey MLS was formed in 2018, following the merger of the Hudson Gateway Multiple Listing Service and the Multiple Listing Service of Long Island.

realestateindepth.com/news/

Mortgage rates average 2.98% | Mt Kisco Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.98 percent.

“Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain strong into next year. However, affordability pressures continue to be an ongoing concern for homebuyers.”

News Facts

  • 30-year fixed-rate mortgage averaged 2.98 percent with an average 0.7 point for the week ending November 10, 2021, down from last week when it averaged 3.09 percent. A year ago at this time, the 30-year FRM averaged 2.84 percent.
  • 15-year fixed-rate mortgage averaged 2.27 percent with an average 0.6 point, down from last week when it averaged 2.35 percent. A year ago at this time, the 15-year FRM averaged 2.34 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.53 percent with an average 0.4 point, down slightly from last week when it averaged 2.54 percent. A year ago at this time, the 5-year ARM averaged 3.11 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

New homes material prices rising 26% | Mt Kisco Real Estate

post published last week discussed how record numbers of builders were reporting on broad-based shortages of building materials and products.  The source of the information was the May survey for the NAHB/Wells Fargo Housing Market Index (HMI).  The same survey asked the HMI panel of single-family builders how total material costs for the same house have changed over the past 12 months.

The most comment response (checked by 28.0 percent of builders) was that materials costs increased by 20 to 29.99 percent.  However, 15.9 percent indicated that costs increased by 30 to 39.99 percent, 5.9 percent indicated 40 to 49.99 percent, and 15.2 percent even indicated that their costs had increased by 50 percent or more.

On average, the 12-month increase in material costs for the same house was 26.1 percent.  Historically, NAHB has included the material cost question on its HMI questionnaire six times since 2012.  The 2021 figure of 26.1 percent is the highest the average 12-month cost increase has been over that span—by a wide margin.  The previous record was 6.1 percent recorded in 2017.

Material availability and costs are one of several factors, including the cost of regulation and a general shortage of construction labor, limiting the supply of housing, particularly for the entry-level market where additional inventory is badly needed.

read more…

eyeonhousing.org

Case-Shiller home prices up 9.5% | Mt Kisco Real Estate

In November, national home prices continued to rise at a fast pace, fueled by strong demand and low inventory. All 19 major markets saw double-digit growths in home prices.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 18.3% in November, following a 21.9% increase in October. It marks the fourth consecutive month of double-digit growth in home prices. On a year-over-year basis, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index posted a 9.5% annual gain in November, up from 8.4% in September. It is the fastest pace of home price appreciation since February 2014. Strong demand, low interest rates and tight inventory together pushed home prices to new highs amid the COVID-19 pandemic.

Meanwhile, the Home Price Index, released by the Federal Housing Finance Agency (FHFA), rose at a seasonally adjusted annual rate of 12.9% in November, following a 19.3% increase in October. On a year-over-year basis, the FHFA Home Price NSA Index rose by 11.0% in November, after an increase of 10.3% in October. It confirmed rapid growth in home prices for this month.

In addition to tracking national home price changes, S&P reported home price indexes across 19 metro areas in November (Detroit metro area data was missing in November 2020 because there are not a sufficient number of records for the month of November for Detroit).

In November, all 19 metro areas reported positive home price appreciation and their annual growth rates ranged from 9.1% to 27.7%. Among all the 19 metro areas, seven metro areas exceeded the national average of 18.3%. New York, Seattle and Boston had the highest home price appreciation. New York led the way with a 27.7% increase, followed by Seattle with a 22.4% increase and Boston with a 21.9% increase.

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eyeonhousing.org/2021/01/

Existing home sales jump to 14-year high, as prices set another record | Mt Kisco Real Estate

  • Sales of existing homes rose 2.4% to a seasonally adjusted annualized rate of 6.0 million units, according to the National Association of Realtors.
  • Sales were 10.5% higher compared with August 2019. This is the highest sales pace since December 2006, before the Great Recession. 
  • Tough competition has the market moving very quickly. It took just 22 days to sell a home in August, matching the fastest on record.
A home for sale is seen in Santa Monica, California.

A home for sale is seen in Santa Monica, California.

After a record-setting July, the housing market still shows no sign of cooling off.

Sales of existing homes rose 2.4% to a seasonally adjusted annualized rate of 6 million units, according to the National Association of Realtors. Sales were 10.5% higher compared with August 2019. This is the highest sales pace since December 2006, before the Great Recession.

Sales were hampered only by lack of supply. There were 1.49 million homes for sale at the end of August, down 18.6% annually to a 3.0-month supply. The number of homes for sale when sales were last this robust, in 2006, was more than double the current supply.

That tight supply pushed the median price of an existing home sold in August to a record high of $310,600. That is up 11.4% annually. In the third quarter of this year the housing wealth will have increased by $1.5 trillion from the second quarter.

“The imbalance of supply and demand will hurt affordability soon. Once that appears it will hinder home ownership rates,” said Lawrence Yun, chief economist for the Realtors. 

Tough competition has the market moving very quickly. It took just 22 days to sell a home in August, matching the fastest on record.

Mortgage rates set several record lows in August, which only added to the fierce competition for housing. Low rates also kept the heat on home prices, as they give buyers additional purchasing power.

Regionally, sales were strongest in the Northeast, rising 13.8% month to month. Sales were 1.4% higher in the Midwest and 0.8% higher in both the South and West. The Northeast saw some of the strictest shutdown rules early in the coronavirus pandemic, so the recovery now may be making up for that.  

Sales of newly built homes, which are counted by signed contracts, not closings, jumped 36% annually in July. Builders are benefiting from the tight supply of existing homes for sale, as well as for the new consumer demand for higher-tech homes in suburban and rural locations.

Strong demand is expected to continue into the usually slower fall months, but there may be a brief drop in the numbers because of the various natural disasters across the nation.

“In early September, new housing supply took a hit from the wildfires and hurricanes, and sales activity weakened. But because the impact of natural disasters has been more supply-oriented than demand-oriented, prices are expected to remain high,” said Danielle Hale, chief economist at realtor.com. “The combination of high prices and low supply is going to continue to make finding a home an even more difficult task than it already is.”

read more…

https://www.cnbc.com/2020/09/22/existing-home-sales-jump-to-14-year-high-as-prices-set-another-record.html

Mortgage rates average 3.01% | Mt Kisco Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.01 percent.

“While housing demand continues to rebound, the month-long swoon in economic activity has caused the 10-year Treasury benchmark to drop. In the short-term, this means the demand will continue on the back of near record low mortgage rates,” said Sam Khater, Freddie Mac’s Chief Economist. “However, the most recent consumer spending data has been pointing to slow growth since mid-June. The concern is that the pause in economic activity will cause unemployment to remain elevated which will lead to longer-term labor market distress.”

News Facts

  • 30-year fixed-rate mortgage averaged 3.01 percent with an average 0.8 point for the week ending July 23, 2020, up slightly from 2.98 percent. A year ago at this time, the 30-year FRM averaged 3.75 percent.  
  • 15-year fixed-rate mortgage averaged 2.54 percent with an average 0.7 point, up from last week when it averaged 2.48 percent. A year ago at this time, the 15-year FRM averaged 3.18 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.09 percent with an average 0.3 point, up slightly from last week when it averaged 3.06 percent. A year ago at this time, the 5-year ARM averaged 3.47 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

New York real estate market sees steep rise in listings | Mt Kisco Real Estate

After a difficult few months, New York City’s real estate market is bouncing back.

This week, after the city entered phase 2 of its reopening, contract activity increased 41%, reaching the highest numbers since the end of March, when the country shut down due to the coronavirus outbreak. New listings also increased 57% since last week, reaching a level not seen since March 2, according to data compiled by UrbanDigs.

Though listings are down 36% from this time last year, brokers are confident the slump in the market is temporary — and on its way out. “This is a remarkable recovery from the entire second quarter,” said Garrett Derderian, the CEO of GS Data Services.

“What we’re seeing is a lot of concern, but also a lot of pent-up demand,” Jason Haber of Warburg Realty told ABC News.

Derderian’s data shows the median list price of $1,395,000 is up 5% from this time last year, while the average price-per-foot is down just 3% to $1,560.

“What this tells us on a high level is the recovery on the listing side has started to take hold and is looking like the V-shape that was anticipated earlier this year,” he said.

The same can be said for the Seattle and Miami markets, the latter which has actually seen an increase in property trades compared to last year, as many in the Northeast — particularly in the hard hit tri-state area — continue to relocate to Florida.

Kolderal/Getty ImagesA residential street is seen in New York City.A residential street is seen in New York City.Kolderal/Getty Images

There have been 217 contracts signed in Manhattan since June 1, a decrease of 71% from this time last year. But this should not come as a surprise, given that the city just opened for in-person showings Monday.

Data sets put together by Derderian and Jesse Kent, the CEO of real estate public relations agency Derring-Do, show that prices have not gone down substantially despite the crisis.

“There has been wide speculation that prices were going to decline 10 to 20% in NYC real estate investments, but as of now, that is simply not the case,” said Derderian. “In fact, there may be a silver lining for the Manhattan housing market as workers may want to rely less on public transit and walk to work. This could bode well for many parts of Manhattan and result in price increases depending on the neighborhood and price point. The same is true for downtown Brooklyn and the immediate surrounding neighborhoods.”

If prices do go down, it will likely be in July, once there is more movement in the market.

Mark Lennihan/AP, FileIn this May 12, 2020 photo, a storefront displays “For Rent” signs in the window in the Red Hook neighborhood of the Brooklyn borough of New York.In this May 12, 2020 photo, a storefront displays “For Rent” signs in the window in the Red Hook neighborhood of the Brooklyn borough of New York.Mark Lennihan/AP, File

Another thing that makes brokers optimistic is that the buyers who are currently looking seem to be fully committed.

“There are two types of people: short-term buyers who will likely not invest during the pandemic, and those who see the near-future potential and are looking to invest in the long term,” Haber said.

“Because there’s so much unknown right now, the profile of the buyer is someone who believes in New York long term,” said Michael J. Franco, from real estate broker Compass.

Even while the market appears to be recovering, Warburg Realty’s Bill Kowalczuk explained that the process of viewing and buying has changed due to the coronavirus.

Not only does a potential buyer have to schedule a viewing 24 hours in advance, but they have to wear personal protective equipment, sign a stack of forms acknowledging the health risks they’re taking and keep from touching any surfaces while inside the property (the agent has to open all cabinets and doors).

The documents potential clients must sign prior to attending a viewing include a limitation of liability form and a health questionnaire screening form. Though they’re not required by law, all Real Estate Board of New York members are asked to give them to their customers to ensure their safety.

Fueled by people’s eagerness to move forward, Kowalczuk said he expects a boom of market activity in the next six weeks.

read more…

abcnews.go.com/business

4 million Americans are now skipping their mortgage payments | Mt Kisco Real Estate

More than 4 million Americans have stopped making mortgage payments because of economic hardship caused by the coronavirus pandemic.

Fewer Americans are calling their mortgage servicers to ask for relief from mortgage payments, but the housing industry isn’t out of the woods yet.

More than 4.1 million homeowners are in forbearance plans now, according to the latest data from the Mortgage Bankers Association.

While mortgage servicers are still facing stress because of the record deluge of requests for payment relief, signs suggest that homeowners’ prospects have improved as parts of the country have begun to emerge from coronavirus stay-at-home orders.

How bad is it if I stop paying my mortgage during the pandemic?

Overall, 8.16% of all mortgages were in forbearance as of May 10, meaning borrowers can either skip or make reduced payments, the trade group said. That was up from 7.91% as of May 3, which is the smallest increase since March. Forbearance requests dropped from 0.52% of the total mortgage volume to 0.32%.

“There has been a pronounced flattening in loans put into forbearance — despite April’s uniformly negative economic data, remarkably high unemployment, and it now being past May payment due dates,” Mike Fratantoni, chief economist for the Mortgage Bankers Association, said in the report.

The potential exception to this trend is the segment of the market for loans backed by Ginnie Mae, including Federal Housing Administration (FHA) and Veterans Affairs (VA) loans. More than 11% of Ginnie Mae loans are in forbearance because of the coronavirus outbreak. These loans tend to go to borrowers who are first-time homeowners with weaker credit — people who could be more exposed to the economic downturn the pandemic has caused.

While the pace of homeowners requesting forbearance has slowed, the end of the mortgage industry’s troubles isn’t necessarily in sight. A recent report from U.K.-based economic forecasting firm Oxford Economics estimates that 15% of homeowners will fall behind on their monthly mortgage payments.

The outlook for homeowners will likely depend on their ability to bounce back, particularly for those who have lost their jobs. The good news for mortgage lenders is that job losses caused by the coronavirus have largely been concentrated in the service sector, according to a report from First American Financial FAF, 3.06% , a title insurance company. Because these jobs are lower skilled and lower paid, it’s less likely that the newly unemployed already owned homes.

read more…

www.marketwatch.com

NYSAR update on NYS phase 2 openings | Mt Kisco Real Estate

Dear NYSAR members,

Below, please find additional frequently asked questions for the Phase 2 regional re-opening of “New York Forward.”  These are questions we have previously answered, however, the answers have been modified to reflect Phase 2 guidance.  For frequently asked questions prior to, and including Phase 1, as well as Phase 2 questions, please visit nysarcovidupdates.com.
 
Q – How does the COVID-19 pandemic impact Fair Housing? Can I ask a client/customer/consumer if they have been exposed to COVID-19?
 
A – Yes, the Interim Guidance Document provided by ESD and DOH includes permissible screening questions relating to COVID-19 exposure that must be asked of every seller/buyer/landlord/tenant.
 
Q – Can a professional photographer and/or videographer take photos or video of a property under Phase 2?
 
A – Yes, if the photographer/videographer is operating in a region open under Phase 2.
 
Q – How do I use the NYSAR COVID-19 Phase 2 Disclosure form?
 
A – Below, please find instructions on how to use the Phase 2 form: The form is OPTIONALYou must have the permission of your broker before utilizing the form.  Your broker may require you to either: a) use the NYSAR form; b) use a form the broker had prepared; or c) not use any form.The form has been provided to local boards, MLS’ and brokers previously and they may have released the form already with their name and/or logo.Licensees should present the form to the seller or buyer in the same manner an agency disclosure form is presented.The COVID-19 Disclosure form notifies the seller and buyer of the risks associated with permitting an individual to enter one’s property or by entering another individual’s property.By signing the form, the seller or buyer acknowledge that by permitting such access or by accessing the property they assume the risk of potential exposure to COVID-19.  Licensees should explain to the seller and/or buyer that the form outlines the risks of COVID-19 exposure and by signing the form they are acknowledging and assuming such risks.Licensees should have the seller and/or buyer sign the form, print their name next to their signature and provide a signed copy to the seller or buyer and retain a signed copy for the broker’s file.The form may be delivered in any manner currently permitted (paper, electronic transmission).A copy of the COVID-19 Phase 2 Disclosure form can be found HERE
Q – If I use the NYSAR COVID-19 Disclosure form can I perform in-person showings in a Phase 2 region?
 
A – Yes, so long as all requirements contained in the Interim Guidance Document are strictly followed.

Q – What is the seller and/or buyer agreeing to when they sign the NYSAR COVID-19 Phase 2 Disclosure form?
 
A – In the event the seller and/or buyer is exposed to COVID-19 as a result of permitting or gaining access to the property, the form acts as a disclosure notice outlining the risks and having the party acknowledge that they are assuming such risk through their actions.  If a licensee and/or broker were named in a lawsuit alleging exposure to COVID-19 by the seller and/or buyer (or a member of their household), the form could be used to show the seller and/or buyer were aware of the risks and assumed the risk of permitting access or gaining access to the property.
 
Q – What if the seller and/or buyer refuse to sign the COVID-19 Phase 2 Disclosure form?
 
A – Licensees should follow the same procedure when a consumer refuses to sign an agency disclosure form.  If the seller and/or buyer refuse to sign the form, the agent shall set forth a written declaration of the facts of the refusal and shall maintain a copy for the broker’s file.
 
Q – If a buyer/tenant refuses to sign the COVID-19 disclosure or answer the screening questions, can the seller/landlord refuse to show the property to that party?
 
A – Yes, the seller/landlord can require compliance with both the COVID-19 Phase 2 Disclosure Form as a prerequisite before the showing.  Consumers are not required to sign the COVID-19 Phase 2 Disclosure or answer the screening questions and if all parties are comfortable with that, a showing may occur.
 
Q – If a seller/buyer/landlord/tenant answers yes to any of the screening questions, what should I do?
 
A – If a seller/buyer/landlord/tenant answers yes to any question, it would be up to the parties as to whether they want to continue with the in-person showing assessing what risks they may be taking.  For instance, a buyer is a health care worker and is exposed to COVID-19 as a result of their occupation.  That would not disqualify them from the in-person showing if the seller is comfortable with the precautions being taken.  If they are not comfortable, a licensee would not be required to conduct an in-person showing if any of the questions were answered “yes”.  This would be a scenario where it would be prudent to utilize the COVID-19 Phase 2 Disclosure Form.
 
Q – Can a licensee perform an in-person open house in a region open under Phase 2?
 
A – Yes, however the Interim Guidance Document only permits one party to be in the property at a time.  As a best practice, licensees should schedule appointments for an open house in order to avoid having multiple parties present at the property and congregating outside waiting to see the property.
 
Q – Can I have in-person contact with a member of the public in a region open under Phase 2?
 
A – Yes.  The Interim Guidance Document permits in-person contact with a member of the public so long as required health and safety measures set forth in the document are followed.
 
Q – Can the purchaser be present during the inspection?
 
A – That would be up to the inspector and their interpretation of the Interim Guidance Document.
 
Q – Can I conduct a final walkthrough with a consumer in a region open under Phase 2?
 
A – Yes, so long as all requirements for a showing contained in the Interim Guidance Document are strictly followed. 
 
Q – Can a licensee perform in-person showings in a region open under Phase 2?
 
A – Yes, so long as all requirements contained in the Interim Guidance Document are strictly followed.
 
Q – Can I attend a closing in a region open under Phase 2?
 
A – Licensees should not be attending closings in-person.
 
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