Pursuant to Directive 045, Nevada's mask mandates and social distancing requirements have aligned with the CDC's recommendations, lifting most restrictions on wearing a mask and social distancing for fully vaccinated persons. The CDC, Governor Sisolak, and Nevada OSHA have provided recommendations to help persons make smart decisions about daily activities after full vaccination -- such as considerations in indoor environments, following school and workplace guidelines, etc.
This continues to be an evolving situation as local counties implement local plans. Washoe County has released it will follow the CDC's guidelines and Governor Sisolak's recommendations. Clark County Commission is meeting Tuesday (5/18) and thus more information on that will be forthcoming.
By Christal Park-Keegan -- NVR Legal Information Line Attorney
The article in the adjacent link addresses a popular issue often discussed on the Legal Information Line. NVR Legal Information Line Attorney Christal Keegan answers prevalent legal questions during this current busy real estate era like -- "In the event that property does not appraise, the buyer agrees to pay $10,000 over appraised value in cash at the COE."
Do you know how Nevada law reads on the subject? Read this short legal-themed FAQ article and learn all you need to know. If you have any questions, please email the Legal Information Line at InfoLine@NVRealtors.org. You can view the legal article on the subject by clicking here.
With the nation emerging from the worst of the COVID-19 pandemic, real estate industry stakeholders gathered virtually last week to discuss new research on how shutdowns, job losses and seismic societal shifts will impact the long-term stability of the U.S. housing market. The comprehensive report was authored by representatives from the National Fair Housing Alliance and the National Community Stabilization Trust. It was dissected Wednesday for the first time in a public setting during the REALTORS® Legislative MeetingsRegulatory Issues Forum
Protecting Homeownership from the Impact of COVID-19 explores paths policymakers must take to ensure America's economic recovery does not leave behind communities of color, as the nation saw occur in the aftermath of the Great Recession. At that time, an estimated $20 trillion in equity was lost while 8 million homeowners entered foreclosure. Click here to continue reading the full article.
ATTOM Data Solutions recently released its first-quarter 2021 U.S. Home Equity & Underwater Report, which shows that 17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.
The count of equity-rich properties in the first quarter of 2021 represented 31.9 percent, or about one in three, of the 55.8 million mortgaged homes in the United States. That was up from 30.2 percent in the fourth quarter of 2020, 28.3 percent in the third quarter and 26.5 percent in the first quarter of 2020 - one of many measures showing how the U.S. housing market continues fending off economic damage caused by the worldwide Coronavirus pandemic. To continue reading click here.