Below is an update regarding the City of Santa Fe's proposed changes to the Short Term Rental Ordinance. If you have questions please contact us and we would be happy to weed through all this with you.
At the City of Santa Fe’s Planning Commission meeting held on Thursday – June 18, 2020, the Planning Commission members postponed action on the proposed Short Term Rental law changes. The Planning Commission agreed to take up the proposed changes at its July 16, 2020 meeting and will accept written comments through July 9, 2020. Additionally, the Planning Commission agreed that there will be no public hearing at the July meeting to allow members to fully debate, amend and craft a final recommendation to the City Council regarding these changes. Based on the advice from the Planning Commission’s attorney, Sally A. Paez, the ordinance changes will continue to be reviewed by city committees as the patrons of the legislation are committed to advancing the proposed changes to the City Council for its consideration by early August.
At the June 18th Planning Commission meeting, members offered:
Approximately, 30 individuals provided testimony at the City Planning Commission’s Zoom meeting with 12 individuals generally supporting the proposed changes and 17 individuals raising concerns or opposing the changes. SFAR President, Susan Orth, provided public testimony urging the City of Santa Fe’s Planning Commission to postpone action and seek clarification on the proposed changes.
The City’s Quality of Life Committee will hear the proposed changes to the Short Term Rental ordinance on July 1, 2020. It is unclear whether public comment will be permitted. SFAR will provide meeting details as they are publicly announced.
The City of Santa Fe is proposed changes to its Short Term Rental laws; specifically:
The City of Santa Fe is proposing Changes to the Short Term Rental Laws. These could affect your property rights. We suggest reviewing the proposal and if you have any questions please feel free to contact one of the talented Realtors at Leyba Real Estate LLC. www.LeybaRealEstate.com
Proposed Changes to City Short Term Rental Laws
Total All Types
Septic Systems in New Mexico are required to be tested prior to the property transferring ownership. The filing fees and re-permitting fees will change as of July 1, 2020. Below is a notice from the New Mexico Environment Department. If you have any questions regarding how this would affect the potential sale of your home please contact any of the experienced Realtors at Leyba Real Estate LLC. www.LeybaRealEstate.com
Changes to New Mexico Administrative Code 20.7.11 Liquid Waste Treatment and Disposal Fees will become effective July 1, 2020.
The new report filing fee will be fifty dollars. An invoice for $50 will be attached to all property transfer evaluation reports filed with any of the field offices. The owner of the property is responsible for the fee. The owner or their authorized representative may pay the fee via check made payable to the Environmental Health Fund.
Payment may be made at the time of submission or within 30 days. Any outstanding invoices will become the responsibility of future property owners.
The department has plans to allow for credit card and online payments in the near future.
Additional changes include a fee of $250 for the department to conduct an un-permitted system inspection. Again, this is a new fee.
A fee schedule is below for your information.
You may email or call your local field office if you have any questions.
The department will develop an online video explaining the changes in the near future.
We will send out the link when that occurs.
20.7.11 NMAC LIQUID WASTE TREATMENT AND DISPOSAL FEES
Conventional system, register, construct, or modify design flow up to 1,000 gpd
Conventional system, register, construct, or modify design flow 1,001 gpd up to 2,000 gpd is
Conventional system, register, construct, or modify design flow 2,001 gpd up to 5,000 gpd
Alternative system or advanced treatment register, construct or modify design flow. up to 1,000 gpd
Alternative system or advanced treatment register, construct or modify design flow.1,001 gpd up to 2,000 gpd
Alternative system or advanced treatment register, construct or modify design flow.2,001 gpd up to 5,000 gpd
Annual operating permit renewal for an alternative system or advanced treatment system
Annual operating permit renewal for a holding tank system or, a split flow system with a holding tank, excluding alternative systems and advanced treatment systems
Homeowner Qualification Certificate
Third-party Evaluator Qualification Certificate
Maintenance service provider Qualification Certificate
Septage Pumper Qualification Certificate
Installer Specialist Qualification Certificate
Installer Specialist Renewal Qualification Certificate
Septage Pumping Truck Annual Registration Fee:
Property Transfer Report Filing Fee:
Septic Tank Manufacturer Certification Fee:
Un-permitted System Inspection Fee:
Variance, Application for, small system
Variance Application for, large system
Table Prepared 4/9/20
Mortgage financing giants Fannie Mae and Freddie Mac announced that homeowners in forbearance can request payment deferrals and tack any missed payments on to the end of their loan term, without penalty or added interest.
Under forbearance, homeowners are still required to repay any missed payments. But the government-sponsored enterprises made clear in an announcement Wednesday that borrowers do not have to repay them all at once.
Freddie Mac stated that borrowers taking one of its mortgage deferral solutions will be able to eventually resume their monthly mortgage payment to its pre–COVID-19 amount by adding up to 12 months of missed payments—including escrow advances—to the end of the mortgage term. Borrowers will not accrue any extra interest or late fees. Its solution is effective July 1, the date when mortgage servicers will begin to evaluate homeowners with resolved COVID-19–related hardships for eligibility.
“Our main focus continues to be finding new and innovative ways to help borrowers and their families during this pandemic,” says Donna Corley, executive vice president and head of Freddie Mac’s single-family business. “Our payment deferral solution adds another tool to our toolbox to help homeowners pick up where they left off once they’ve recovered from a short-term financial hardship.”
Fannie Mae and Freddie Mac are allowing homeowners affected financially by the COVID-19 pandemic to pause their mortgage payments for up to a full year through forbearance. By the start of May, nearly 4 million homeowners had taken advantage of the government’s or a bank's mortgage forbearance program, according to data from Black Knight, a mortgage analytics firm.
Loan servicers are to reach out about 30 days before a borrower’s initial forbearance plan is to end to determine what type of repayment plan is needed.
Fannie Mae says that homeowners will have several options to pay back missed payments, including rolling the payments to the end of their mortgage as well as repaying in full—if they wish to—or setting up a repayment plan to gradually catch up.
Fannie and Freddie also said loan modifications could be possible depending on the borrower’s situation.
The National Association of REALTORS® applauded the Federal Housing Finance Agency's move to deliver greater certainty to homeowners who need to take forbearance. This move offers "solutions and some much-needed certainty to the millions of U.S. families facing unemployment and unsure how they will cover next month’s bills," says Vince Malta, NAR's president. "This flexibility will be invaluable for American consumers as we begin to emerge from this crisis and restart our economy."
To determine whether a loan is owned by one of the GSEs, visit Fannie’s lookup tool or Freddie Mac’s lookup tool.
The coronavirus pandemic has thrown millions of people's financial plans off the rails, and that certainly includes home buying. If you were hoping to purchase a property soon, you no doubt have a lot of questions:
Is it possible to buy a house now?
While buying a house today may be more challenging due to health and economic concerns, it is certainly possible. In fact, the U.S. Department of Homeland Security has declared that residential and commercial real estate services are an essential service that should be allowed to continue. (State orders, however, may overrule that guidance.)
Furthermore, the real estate industry has quickly adopted new technologies to help home buyers and sellers stay safe for as long as this pandemic lasts.
However, certain aspects of the home-buying process might be restricted or look a bit different these days. For instance, as COVID-19 outbreaks gained momentum, certain hard-hit states (such as New York) banned in-person home viewings. And while home closings typically involve the presence of the buyers, the sellers, their agents, and a notary, some states allowed remote or "curbside" closings, where documents are slipped through car windows to lower the exposure levels of all parties involved.
Aside from federal and local restrictions, a lot will depend on the home sellers' comfort levels. Some sellers might be fine with your touring their house. But others might not be comfortable letting strangers in their home, even if property tours are allowed.
Call us at 505.473.0223 to determine what home buyers can and can't do in your area and for the most up-to-date information.
By Margaret Heidenry Copyright by Realtor.com