Message From the CEO: COVID-19 Update
Louisiana REALTORS • March 16, 2020
LR Volunteer Leaders,
As I update you with this email on the COVID 19 Virus, the issues surrounding this pandemic continue to rapidly change and be very fluid! I first want to say that I hope everyone is safe and taking precautions and caring for those that need assistance. I also want to stress to everyone to be calm and keep up with the news and alerts.
It appears that there have been many closures/restrictions enacted by State Government/Federal Government and the legislature is looking at recessing until a later date. In light of these events and potentially other actions, the LR will have a very limited staff on site at the physical office. Our voice mail will give members information how to reach staff immediately to be able to get information on real estate issues and association services/programs as staff is equipped to work remotely just like being here in the LR office. Let me be clear that the LR staff is working and ready to help members on a moment’s notice!
The LR has postponed the following events to a later date:
LR Leadership Retreat
CCIM Energy Conference,
Louisiana IREM luncheon & live education courses,
Other events scheduled for a live setting
The LR Spring Into Action Conference will be rescheduled as we are waiting on the legislature and other event notices before we can release a final determination on when the meetings will occur, but we will be updating you on the new dates as soon as we can. As soon as we have a final plan for the Spring Into Action Conference we will work with all of you that have already registered and secured a hotel room.
I have asked Patty McMurray, our legal counsel to put together a best practice dealing with real estate transactions in light of issues surrounding the COVID 19 Virus, along with guidance for local associations on employment issues brought up by the situation. As soon as we have these memos we will forward to you this information. However, for your general needs at this time, Baker Donaldson has put together a Corona Virus Resource Center with articles, webinar recordings and links to keep you apprised of the changing landscape which can be found right below. IF YOU HAVE QUESTIONS ON ANY INFORMATION CONTAINED IN THIS LINK PLEASE EMAIL KIM CALLAWAY at kim@larealtors.org who will work with Baker Doneldson on facilitating answers to your questions.
Baker Donelson : What You Need to Know
As soon as the President signs into law a stimulus package, we will forward this information out to the membership on how this legislation may affect or help independent contractors and broker-owners and their employees. Please stay safe and know we will come out of this event stronger than ever!!
Other resources for coronavirus information:
CDC website: https://www.cdc.gov/coronavirus/2019-ncov/
From the Louisiana Department of Insurance: During a press conference today with Governor Jeff Landry, Insurance Commissioner Tim Temple announced that registration for the next round of the Louisiana Fortify Homes Program (LFHP) will open at 8 a.m. on Monday, June 1, and will include 3,000 grants. The registration period for this lottery will be open for three weeks, closing at 5 p.m. on Friday, June 19. During the press conference, Gov. Landry signed HB 1187 by Rep. Paul Sawyer, which will allow Louisiana Citizens Property Insurance Corporation to transfer $50 million in additional Katrina bond assessment funds to the LFHP. Combined with the $30 million in funding the program will receive through taxes and fees on insurance entities, the LFHP will receive a total of $80 million this year. “By lowering overall losses, we can reduce insurance and reinsurance costs, draw more insurers into the market, motivate existing companies to write additional policies and lower insurance premiums,” said Commissioner Temple. “That is exactly what the Louisiana Fortify Homes Program is designed to do.” The list of coastal parishes that are eligible to participate is expanding to include Acadia, Jefferson Davis and Lafayette parishes. Additionally, homeowners who live in the portions of Ascension, Calcasieu, Iberia, Livingston, St. Martin, St. Tammany, Tangipahoa and Vermilion parishes that were previously not included in the program will now be eligible to participate. A map showing the full list of eligible parishes is available on FortifyHomes.La.Gov . “Louisiana is the fastest growing state in the country for Fortified roofs, and that growth is not by accident—it is the result of strong support from Governor Landry and legislators like Chairman Talbot, Chairman Firment and Representative Sawyer, targeted program design, and a clear recognition that strengthening homes is one of the most effective ways to reduce insurance losses,” said Commissioner Temple. “At the end of the day, this program is about more than just roofs. It is about protecting families, it is about strengthening communities, and it is about putting Louisiana in a stronger position—both physically and economically—to face the challenges ahead.” To participate in the lottery, homeowners must register during the June registration period. Homeowners who registered for a previous round but were not selected must register again to participate. People who register on the last day of the registration period have the same chance of being selected as those who register on the first day, so there is no need to rush to register as soon as the period opens. When registering, homeowners will need to upload their homestead exemption, insurance policy declarations page that includes wind coverage, and flood insurance declarations page if the residence is in a flood zone. Homeowners who need assistance obtaining a copy of their homestead exemption should contact their parish tax assessor. Homeowners can contact their homeowners and flood insurance companies or agents for a copy of their policy declarations page. Homeowners are required to create a profile in the LFHP system before registering for the lottery and may do so by visiting the LFHP website and clicking the Login button. Homeowners who previously created a profile may use the same one for this and future rounds. Once the lottery registration period closes, the LFHP will randomly select 3,000 participants and send email notifications to registrants about whether they were selected to participate. These selection notices will be sent via email beginning on Monday, June 22. There are several program requirements that homeowners should be aware of before registering. Those interested in the program are encouraged to review eligibility information and frequently asked questions at FortifyHomes.La.Gov to determine whether their home meets the requirements for the program. If selected to participate in the grant program, homeowners will be financially responsible for having the home evaluated by a FORTIFIED-certified Evaluator as well as costs for the roof upgrade including permits, inspections and construction costs beyond the amount of the grant The LFHP provides grants of up to $10,000 for homeowners to upgrade their roofs to standards set by the Insurance Institute for Business & Home Safety. The program helps Louisiana homeowners strengthen their roofs to better withstand hurricane-force winds.
Learn how to lower your debt-to-income ratio before buying a home in Louisiana and why working with an experienced real estate agent can help.
NAR is pleased to share the latest new consumer guide, “Overcoming Roadblocks to a Sale or Purchase,” which helps buyers and sellers prepare for the most common potential pitfalls so their transaction closes smoothly. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow up to two weeks for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Overcoming Roadblocks to a Sale or Purchase How Solar Impacts a Real Estate Transaction Navigating Interest Rate Shifts Financing a Renovation When You Buy Staging Your House for a Sale Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their home buying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. On June 3, we’ll have a new consumer guide on unpacking after a move and a refreshed guide in the value of MLS.
