Current Market Update - March 26

State Trumps County; Damien Cox Letter

By Nicole Rueth - March 26, 2020

Did you get the LOUD mobile alert this morning reminding you the state is on lockdown?  Sorry, what I meant was Stay at Home. On Monday Denver Mayor announced the City and County of Denver was on Stay at Home status. Essential workforce added Realtors, Marijuana and Alcohol within hours.. Colorado's shortest prohibition... and somewhat of a interesting pairing??? Additional counties followed suit the next day. Then on Wednesday, Governor Polis changed directions and put the whole state in a Stay at Home position. Is he wrong? I don't think so. But State trumps County.. there's no play on words there... seriously.   

Right now, financial services are essential.. notaries, banks, lenders. But not Realtors... at least not yet. Damien Cox wrote an eloquent letter posted on the CAR website and linked here stating the case for honoring the stay at home for new business; but taking care of existing business. He also quoted three stories of pushing safety to complete transactions. His words hit home.

So team.. we pause. You are being called to pause and so am I. Of course you know me.. I'm a Keep Business as Usual kind of girl. But... there is a lot going on right now on a daily basis. Just this week, Jumbo was put on hold on Monday, Non-QM on Tuesday and just yesterday Down Payment Assistance.  

There are messages coming out of the medical industry that this could soon be over? Soon? Over? There is talk right now that they're might be a treatment plan by April. Now that is not a full solution or even the absolution of COVID-19.. but a plan, and a plan is HOPE. So guys this is not a forever thing... it's a temporary pause.

So use this time! Not only spending quality time with the family you are locked up with ;-) but also in educating yourself and staying on top of the market trends. Reach out to all of your clients, staying top of mind with them as well and educating them.

In that vein, we are kicking off Agent Ignite Coffee Talk tomorrow morning ... as my gift to you.10:30 every Friday until we are all released. Tomorrow we will talk about the jump in jobless claims and pressure on mortgage servicers and their impact on you. RSVP Here.

Until then, stay safe, stay well.  
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