Our Real Estate services group has compiled articles and resources to help businesses find the needed information to assist them in navigating the COVID-19 crisis.
Along with other businesses, those in the real estate business have been thrust into the great unknown amid the extraordinary amount of disruption caused by the global outbreak of the Coronavirus Disease. To assist in navigating these turbulent times, our team of real estate experts have created and compiled several resources to help you tackle these challenges while continuing to meet the needs of your customers.
COVID-19 and Tax Effects on Real Estate
Kate Kraus, at partner at Allen Matkins, tells Tax Notes legal reporter Eric Yauch the unexpected tax results of recent coronavirus legislation on the real estate market … read on
Confidence Runs Higher on Unemployment Funding
Independent contractors and the self-employed are now eligible for unemployment benefits under the CARES Act and the Pandemic Unemployment Assistance program. However, many are finding themselves stymied when trying to navigate their state’s application process. In a new video from the National Association of REALTORS®, two practitioners share their successful experiences, while employment law experts provide encouragement about how to prepare and what to expect. read on
If Landlords Get Wiped Out, Wall Street Wins, Not Renters
Nobody’s bailing out Connecticut landlord Maribeth Shields.
More than half of the tenants in the 27 low-income apartments she owns in the city of West Haven and its vicinity aren’t paying and there’s nothing she can do about it. The state banned evictions until July and allowed tenants hurt by the pandemic to defer with no penalty. read on
Brokerages Adapt to New Realities
While it’s hardly business as usual in the midst of a global pandemic, real estate brokerages have been quick to respond to the changing times to keep business moving forward. In areas of the country where shelter-in-place or stay-at-home orders have been instituted to curb the COVID-19 outbreak, real estate, title, and mortgage companies have been deemed “essential” to keep home sales going. But real estate professionals must still follow social distancing guidelines set forth by their cities and states, so transactions must happen in an adapted way … read on
New Multifamily Projects Struggle to Land Tenants Amid Frozen Economy
The economic shutdown precipitated by the comprehensive social distancing measures underway across the United States came at a time when the multifamily construction pipeline was chock full of new projects scheduled to open throughout the year … read on
Mnuchin Offers Reassurances on Stability of Mortgage Market
Treasury Secretary Steven Mnuchin offered reassurances Monday on the stability of the U.S. mortgage market amid the coronavirus pandemic and the squeeze it has put on mortgage servicers … read on
Coronavirus’ Impacts On Real Estate: Why You Need to Think Short-Term and Longer-Term
The real estate industry is being clobbered by the coronavirus, and it’s going to get worse before it gets better. The effects on real estate will vary by sector and market, and the extent of the effects will depend upon the duration of the economic shutdown. …read on
Coronavirus Impacting How (or if) Realtors Hold Open Houses
The coronavirus pandemic is impacting how real estate companies in Massachusetts are showing off homes for sale. The Massachusetts Association of Realtors has sent out guidance suggesting that the number of public open houses should be limited …read on
Coronavirus-Related Construction Crackdown Could Spur Real Estate Market Correction, says BU Economist
Construction stopped on at least 21.4 million square feet of new or renovated development on Tuesday — one day after the Boston Planning & Development Agency announced it was indefinitely postponing all public meetings, effectively putting a stop to new development approvals … read on
Boston Fed’s Rosengren: COVID-19 Will Have Long-Term Effects on Commercial Real Estate
The coronavirus outbreak will hamper commercial real estate deals in the coming months, but its effects on the market for office space are poised to be felt for much longer than that, the head of the Federal Reserve Bank of Boston said Wednesday. … read on
We have created this resource center as a central way to keep you informed of the steps we are taking at this time, and offer you some additional resources and information to help your organization during these difficult times. Our team at blum will stay focused on answering your most pressing questions regarding your business including updates on HR policies, tax deadlines, SBA loan availability, cyber and internal controls, productivity and efficiency, work at home capabilities and security, business modeling and more. In addition, we will continue to provide timely updates as federal and state officials provide guidance and enact measures.