At a virtual meeting last week, members of the Silicon Valley Association of Realtors received an update on Santa Clara County's COVID-19 response from County Supervisor Joe Simitian and Deputy County Counsel Tony LoPresti. Realtors also asked the officials about the possibility of further easing restrictions on real estate and expressed concern about landlords who are experiencing financial hardship because they are not receiving rent from their tenant(s).
Simitian assessed the county's performance using three criteria - flattening the curve, testing, and contact tracing. He said the county has done a good job on flattening the curve and increasing healthcare capacity in terms of hospital beds, available ICUs, doctors and support staff for COVID-19 patients.
Simitian rated the county's performance on testing as just "fair." He said testing needs to be stepped up so residents can go back to work. Officials need to know who has the virus so they can follow up with contact tracing on those who have tested positive.
The county's performance on contact tracing has yet to be determined, said Simitian. The county is still adding over 1,000 contact tracers, composed of volunteers, retirees and city workers.
Simitian said by June 26 the county will have three weeks' worth of data to assess the situation, but cautioned there is reason for concern as the number of COVID-19 cases have ticked upward. He explained the Board of Supervisors can only provide input to help the county public health officer arrive at a decision.
"Moving forward will depend on what has happened in the last few weeks, if the trend is in the right direction," said Simitian.
LoPresti credited the business community for making a robust effort to comply with county health and safety guidelines at great sacrifice. He said it is helpful to understand barriers associated with the shelter-in-place order. Input from the local Realtor group and others in the real estate industry has helped the county develop a workable framework allowing real estate services to open with tough restrictions so transactions can move forward.
Addressing the current ban on open houses, LoPresti invited Realtor input in determining a creative, workable solution that would mitigate risk and could be used to get to that point or close to it. Penelope Huang, who chairs the local trade association's legislative council, said Realtors hope broker tours would be allowed in the near future.
The subject turned to tenant protections for rent and evictions. Huang indicated landlords, particularly the mom and pop landlords, rely on rent from their tenants in order to make mortgage payments and utilities.
Simitian assured Huang that the supervisors have no interest in rent forgiveness. "In my view this has been an extraordinary event and as the economy sorts itself out, we are going to have to take extraordinary action. The moratorium language is specific and requires proof of a COVID impact; it's not across the board. We've been very clear that rent is still due. Every single renter is still obliged to pay their rent in full."
Simitian suggested Realtors seek help for landlords at the federal level through a mortgage forbearance bill. "Unfortunately, at the state, county, city levels the need for services is always greatest when the economy sours, which is when revenue is down at the same time."
The county supervisor predicts the issue of affordable housing will have less bandwidth for the next few years as Sacramento tries to figure its way out of a "budgetary bloodbath." In fact, he noted all levels of government are currently trying to find ways to get additional revenue.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
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For further information, please email or call the SILVAR office at (408) 200-0100.