The moratorium is set to expire June 30 if there are no further extensions, but it has faced a growing number of legal challenges from housing providers. In early May, the U.S. District Court judge from the District of Columbia vacated the CDC moratorium, calling it an overreach of authority. But the U.S. Department of Justice appealed the ruling, and the district court issued a stay pending that appeal. On Wednesday, the U.S. Court of Appeals for the D.C. Circuit ruled against a motion by the plaintiffs seeking to vacate the stay. The plaintiffs in the case include the Alabama and Georgia REALTOR® associations, two housing providers, and their property management companies.
As a result of the moratorium and other protections put in place as a result of the COVID-19 pandemic, many property owners have not received rent payments from tenants in months—in some cases, over a year—putting a strain on their finances and their ability to maintain their properties. The longer the moratorium continues, the bigger the problem will be for both housing providers and tenants, who are required to pay all owed rent when it ends.
From the start of the pandemic, the National Association of REALTORS® said, to avoid a crisis, an eviction moratorium must be accompanied by rental assistance payments to housing providers. NAR has helped secure a total of $46.55 billion in federal rental assistance, which is slowly being distributed by states. While states are scrambling to disburse rental assistance payments, NAR says the federal funding hasn’t been enough to make up for the loss in payments, and many housing providers—especially "mom and pop" owners with four or fewer units—are still waiting to receive any sort of financial relief.
COVID-19–related national housing protections have been in place since March 2020. The CDC's order went into effect in September 2020, shortly after the expiration of a narrower set of eviction protections, established by the CARES Act.
"The public health situation in this country is improving daily, the economy is growing, and the unemployment rate is falling," says one NAR policy analyst. "With rental assistance for tenants secured, it is time to restore the housing sector to its healthy, former function. But we also need immediate and absolute clarity from our federal court system on property rights in America to avoid similar financial harm in the future."
🍀 The Hoey Team ☘ serves all of Southwest Florida 🌴 Helping Sellers & Helping Buyers ☘
Recently Barry & Kim with the Hoey Team halped a number of sellers who had been in Foreberance and we were able to get them to a "good place"; worry free. We help people in many different situations; everybody's situation is different; if you know someone needing help; have them reach out to us in confidence: 239-360-5527 ☘
As people continue to move and relocate to the area from other parts of the United States, it is important that we are able to serve all of the area, and offer many different Choices and Lifestyles which are in abundance here in SW FLA 🌴
Inventory remains low overall, but we do continue to list and market new properties to the marketplace and we sell many different type homes; Resale & New Construction; Multigenerational Family Compounds, Regular Single Family Homes, Villas, Townhomes and all Condo types, from low rise, to waterfront high rise right on the beach.
We have also seen an uptake in people planning ahead, and buying that second home now, rather than waitiang as they were planning to do; especially with Snowmads and Zoombirds. Previously we had Snowbirds; interesting how terminology keeps changing.
Lower interest rates are probably helping with the increased sales; oftentimes over asking price. Low inventory is the greatest chalenge for buyers; but if prepared you are ahead of the game; ask how we can help. We recently got an amazing deal for a buyer on a Waterfront Condo with Boat Dock; and we are working on others; so there are deals out there; if you work with us, we will find them.
For those relocating to Florida, we are pleased to be able to assist homeowners in other parts of the United States who need to sell to buy here; please reach out today for more information and how you can have a smooth, non-stressful transition / relocation.
At our Real Estate Team; Hoey Team ☘ we have been succesfully working 100% virtually / remotely for the past number of years as we continue to grow; i'm glad we already had systems in place to better help sellers and buyer with goal posts continually moving in our industry.
Article content from NAR (National Association of REALTORS) Newsletter Magazine, and from other sources including Hoey Team ☘ exp Realty & Freddie Mac / Fannie Mae
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Best Places to Retire? 13 of the ‘Top 25’ Are in Fla ☘ Hoey Team ☘ exp Realty 🌴 Southwest Florida 🌴
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