Monday Market Update: SIP Changes To Impact Construction & Real Estate

Midnight on May 3rd marks the beginning of the updated shelter-in-place order that continues in 6 Bay Area counties (the statewide order is still in effect but different regions have embraced adaptations of the order based on their own disease counts and hospital capacities).  While the extension may not bring the easing that many citizens would hope for, it does impact housing in two key ways.

CONSTRUCTION

In a joint press release, Bay Area public health officials have stated that “All construction activities, certain businesses that operate primarily outdoors, and some outdoor activities will be allowed to resume with specific conditions.” There are new safety protocols that construction sites must comply with that depend largely on the size of the project.

Previous reports from San Jose Spotlight had highlighted concerns about San Jose’s ambitious goal of building 25,000 homes by 2022, and how COVID-19 delays would impact these projects and further contribute to the affordable housing crisis and overall inventory shortages. With construction now able to resume, Silicon Valley growth is on track to be back in action, albeit a pace that has yet to be determined.

REAL ESTATE

ABC 7 News reiterates more good news released in the update directive: “All real estate transactions and residential moves will also be allowed to resume, though limitations on open houses and in-person home viewings continue.” The county order specifically states that “appointments and other real estate viewings must only occur virtually or, if a virtual viewing is not feasible, by appointment with no more than two visitors at a time residing within the same household or living unit and one individual showing the unit (except that in person visits are not allowed when an occupant is present in a residence).”

If you have any questions at all about what activities are allowable under the revised SIP order, please be sure to review the official orders themselves (links below posted for Santa Clara County & San Mateo County), and note that they are complementary to the State Shelter Order.

View the official order from SCC Here:  https://www.sccgov.org/sites/covid19/Pages/order-health-officer-050420.aspx

View the official order from SMC Here: https://www.smcgov.org/sites/smcgov.org/files/documents/files/Health%20Officer%20Order%20Revising%20Shelter%20In%20Place%20Through%20May%2031.pdf

Wishing you all continued health and happiness as we endure through this time together. As we all strive to know better and do better, may we also exhibit patience towards the businesses who are trying to move forward with the new protocols that are required. In the learning curve of life, this is a big one! But in knowledge there is growth, and in growth there is understanding; may these be the ties that bind as we come forth from this point in time as one.

Resources Used:

All construction allowed to resume under extended Bay Area shelter-in-place order

Silicon Valley’s largest developments delayed amid COVID-19 uncertainty

6 Bay Area counties relax some shelter-in-place restrictions; here are changes starting May 4

All my best,

Bobbi

Bobbi Decker
DRE#00607999
Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS,
REI, AHWD, RSPS, MSLG

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/

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