Kelly J. Yao
Coldwell Banker Realty

Updated May 6, 2020

COVID-19 in CA

California Health and Human Services Agency is releasing hospital data, county maps, and cases by county information as an open dataset.

 

Find a Testing Site

Governor Newsom announced a new website to help Californians find a testing site near them.

 

Do:

  • Stay home
  • Avoid people outside your household
  • Wash hands with soap and water for at least 20 seconds
  • Cover your cough or sneeze with a tissue
  • Clean and disinfect frequently touched objects and surfaces
  • Maintain a safe social distance of 6 feet whenever outside of the house
  • Wear a cloth face covering if you go outside

Do Not:

  • Leave the house except for essential activities
  • Shake hands
  • Touch your face
  • Go to doctor unless you call first
  • Stockpile masks or gloves

Updated April 21, 2020

SAN FRANCISCO UPDATE ON REALTOR® GUIDANCE - VIRTUAL SHOWINGS ONLY

 
The San Francisco City Attorney's office working on COVID19 Emergency Management has provided the following additional guidance regarding REALTOR® activities in San Francisco. 
  
S.F. City Attorney Guidance:

 
1. Are real estate photographers permitted in homes?
Yes, real estate photographers are necessary to enable virtual viewings and marketing to occur. 

 
2. Are real estate stagers permitted in homes?
No, stagers are not necessary to enable residential real estate transactions. 

 
3. Are inspectors/appraisers permitted in homes? 
Yes, inspectors and appraisers are necessary to enable residential real estate transactions to occur.

The Existing Order Continues To Prohibit Most In-Person Showings: 
- All Realtor activities must be conducted virtually if feasible. 
- Vacant properties may be shown to prospective buyers only if NOT feasible (possible) to show virtually, and then only with significant procedural and safety measures. 
- NO in-person showings of Occupied properties.

For any questions, it is strongly recommended you consult your broker/manager or legal counsel. The above is general information and may not be applicable to every specific property or situation.

1031 Extensions Granted!

Important 1031 information regarding IRS extended deadlines

Great News!

The IRS issued Notice 2020-23, extending a variety of deadlines, including 1031 deadlines.  Although the Notice is confusing, because it is not written like the typical Disaster Relief Notices, this Notice extends any 45-day or 180-day deadline that occurs between April 1 and July 14, to July 15, 2020

We are working with other real estate professionals to convince the IRS to change the start date from April 1st to January 20th so that the extensions apply to more taxpayers.

Please note that this is different from the usual disaster extension that provides for an extra 120 days.

Here are two examples to illustrate the current extension.

  • Example 1: Exchange began April 1, 2020. 45th day is May 16, which would be extended to July 15, 2020. Taxpayer must still close on replacement property by Sept 28, which is the 180th day; because Sept 28 is after the last day of the disaster period (July 15).
  • Example 2: Exchange began Dec 31, 2019, 45th day is Feb 14, 2020. ID period is not extended because it is before April 1. The 180th day is June 28, which would be extended to July 15, 2020.

As always, exchangers should speak with their tax advisors to determine if they are eligible for an extension.

This remains a fluid situation and we will provide any clarification or changes that the IRS issues, if any.

IRS Disaster Relief Updates

Updated April 13, 2020

 

THE STIMULUS BILL: WHAT YOU NEED TO KNOW

The recently passed $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act is 800 pages long. If you’re like me, your head is swimming with all the details floating around and trying to figure out what all of this means to you and your family. Hopefully, this will shed some light.

Housing Provisions – The act allows for mortgage forbearance for borrowers of government-backed mortgages and owners of multifamily properties, and places a moratorium on eviction filings and fees/penalties for tenants for rent nonpayment for properties backed by HUD. There are also provisions for rental assistance for seniors, the disabled and low-income working families, and more. Visit the link below for more details.

How Much Would I Get – Single individuals would receive a one-time payment of $1,200 and married couples would receive $2,400. In addition, parents would receive $500 for each child under 17. Payments start phasing out for individuals making more than $75,000, and those making more than $99,000 would not qualify at all. According to the Treasury Secretary, most payments would be received via direct deposit sometime in mid-April.

For Those Who Have Lost a Job – In addition to state unemployment benefits, which vary by state, the

federal government would give jobless workers an additional $600 a week for up to four months. The act also includes a pandemic unemployment assistance program that provides jobless benefits to those partially unemployed, self-employed and others affected by the virus who don’t qualify for traditional benefits.

Help For Small Businesses – Under the stimulus package, the Small Business Association will oversee the Paycheck Protection Program, which will distribute $350 billion to small businesses that can be partially

forgiven if the companies meet certain requirements. The loans will be available to companies with 500 or fewer employees.

Student Loan Payments – The Department of Education would suspend payments on student loan borrowers without penalty through September 30.

For more information on the act, click here. I hope that you and your family stay well during these challenging times. If you need someone to talk to – whether it’s about real estate, the news or your favorite new binge watch – I am always here for you. We’re all in this together!

Real Estate is Essential

CB Bug
 
Real Estaate Support in a Virtual World
Providing exceptional real estate service has always been my top priority, but right now, it's the health and safety of my clients, family, friends, and our community as a whole. At Coldwell Banker ®, we already have a very strong digital platform in place, so I am well-equipped to serve my clients virtually, even during these challenging times.

  • New Listings - Our exclusive marketing program enables me to reach potential buyers quickly to get the news out when a new property hits the market, ranging from a property tour video and dedicated property website to online advertising, customized email distribution, mailed property announcements and a digital area REALTOR ® notification.
  • Property Showings - I can show properties virtually using video and apps to keep both sellers and buyers safe while still showcasing a home's unique features.
  • Your Home's Value - I can send you a detailed report showing your home's value as well as comparable homes that have sold nearby.
  • Market Updates - If you want to learn more about how real estate is doing in your area, I can send you a weekly Market Report detailing activity to keep you fully informed.
  • Mortgage - Our mortgage partner, Guaranteed Rate Affinity, offers a suite of digital tools that allow buyers to get pre-approved online or by phone, and complete and sign mortgage documents digitally.

While our country, and in fact, the entire world faces this challenging situation, Coldwell Banker is prepared and ready to continue to help you reach your real estate goals. Please contact me today if you have any questions or would like to discuss selling or purchasing a property.
KELLY J YAO
CalRE: CA-01958090
Cell: (415) 999-9388
Kelly.Yao@cbnorcal.com
www.kellyjyao.com
 

We Care

CB Bug
 
Coldwell Banker
During this time of uncertainty surrounding COVID-19, we wanted to reach out and let you know that our clients and friends remain among our top priorities.

With the intention of making it a little easier to stay positive while staying put, we have compiled a list of suggested activities to help support the community and those you love, which we'd like to share with you.
Click to View List
Take care.
KELLY J YAO
CalRE: CA-01958090
Cell: (415) 999-9388
Kelly.Yao@cbnorcal.com
www.kellyjyao.com
 
 

 

Support Homes for Dogs Project

You're invited to support Coldwell Banker's Homes for Dogs Project.
 
Coldwell Banker
Announcing adoption events and pet supplies collections benefiting local animal shelters

Our Homes for Dogs Project is dedicated to connecting adoptable pets with their forever families. Join us in celebrating the love that launched this
annual initiative.

Contact me to arrange a pickup of your donated items or visit our website for more details, including a list of participating locations where you can adopt a new member of the family or drop off your donations.
Click for Details
 
KELLY J YAO
CalRE: CA-01958090
Cell: (415) 999-9388
Kelly.Yao@cbnorcal.com
www.kellyjyao.com