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Northern Va. healthiest region in the state
Thursday, March 18, 2010
A report the Robert Wood Johnson Foundation and University of Wisconsin researchers says Northern Virginia is the healthiest in the Commonwealth. The report ranks areas by health factors such as obesity, and health outcomes, like life expectancy. Loudoun County has the healthiest behavior, while Fairfax County does best in health outcomes. Read more from the Associated Press....
Chesterfield County budget down 2.1% from last year
Wednesday, March 17, 2010
Chesterfield County's spending from the general fund will be down for the second year in a row -- 2.1% less than last year -- dropping to $700.4 million. This year’s budget dropped to $714 million from $749 million in 2009. About 45% of the general fund comes from real estate taxes. According to Jonathan Davis, the county’s director of real estate assessments, residential assessments are down 4% from November 2009...
Fairfax school officials trim $80 million from budget request
Wednesday, March 17, 2010
Fairfax County school officials decreased their budget request to county supervisors by $80 million Tuesday, asking instead that county supervisors maintain the same level of support provided this year. Under the school board's budget, most summer school programs will be cut, funding for supplies and textbook is set to drop by 15%, and employee salaries will be frozen. Supervisors will hold budget hearings next...
Pittsylvania County property owners to pay lower real estate taxes
Wednesday, March 17, 2010
Pittsylvania County property owners will pay less in taxes for the 2010-11 fiscal year. The Board of Supervisors unanimously voted to lower the rate from 56 cents per $100 of assessed value to 52 cents per $100 of assessed value. The board is required to set a rate that generates no more than a 1% increase in real estate tax revenue from the year before. Virginia statute requires the board to decrease next year's...

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School districts across the Commonwealth consider their options
Tuesday, March 16, 2010
School boards and the officials that report to them are rolling up their sleeves in preparation for battles and tough decisions. The state budget, passed on Sunday, included $253 million in cuts to public education. School districts now must decide where those cuts will be felt. Read more about how local districts are handling the pinch....
Appalachian Power Co. asks for 12.8% increase, commission recommends 3%
Sunday, March 14, 2010
Appalachian Power Co. wants to raise rates a whopping 12.8%. If the rate hike is permitted, a customer currently paying $105 per month would instead owe $118.44. The State Corporation Commission is recommending that commissioners consider limiting the rate increase to 3%. Appalachian's 2009 profit from its full service territory, including parts of Virginia, West Virginia, and Tennessee, totaled $155.81 million....
Real estate taxes may rise in Fairfax, Falls Church
Saturday, March 13, 2010
City managers in Fairfax and Falls Church are proposing real estate tax hikes. The hikes are to make up revenue lost from dropping residential and commercial property assessments. Falls Church proposed a 20-cent increase in its tax rate, from $1.07 to $1.27 per $100 of assessed value. Fairfax City is considering an increase of 8.5 cents, from 88 cents to 96.5 cents per $100 of assessed value. Falls Church is set to...
Federal refinancing program extended
Wednesday, March 10, 2010
Homeowners who haven't refinanced under the federal government's refinance program still have time, according to this article from the Washington Post. Owners who owe up to 25 percent more than their homes are worth can refinance their mortgages under the program, hopefully reducing their risk of foreclosure. Read the full story...  
Tougher stormwater regulations postponed
Wednesday, March 10, 2010
Stricter standards to keep stormwater runoff under control -- and out of the Chesapeake watershed -- have been postponed until at least the end of 2010, and possibly as late as Dec. 1, 2011. The tougher standards would control the way new homes, shopping centers, and other developments are built. Environmentalists maintain the new standards are necessary to protect the watershed for future generations, but opponents...

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School districts across the Commonwealth consider their options
Tuesday, March 16, 2010
School boards and the officials that report to them are rolling up their sleeves in preparation for battles and tough decisions. The state budget, passed on Sunday, included $253 million in cuts to public education. School districts now must decide where those cuts will be felt. Read more about how local districts are handling the pinch....
Appalachian Power Co. asks for 12.8% increase, commission recommends 3%
Sunday, March 14, 2010
Appalachian Power Co. wants to raise rates a whopping 12.8%. If the rate hike is permitted, a customer currently paying $105 per month would instead owe $118.44. The State Corporation Commission is recommending that commissioners consider limiting the rate increase to 3%. Appalachian's 2009 profit from its full service territory, including parts of Virginia, West Virginia, and Tennessee, totaled $155.81 million....
Real estate taxes may rise in Fairfax, Falls Church
Saturday, March 13, 2010
City managers in Fairfax and Falls Church are proposing real estate tax hikes. The hikes are to make up revenue lost from dropping residential and commercial property assessments. Falls Church proposed a 20-cent increase in its tax rate, from $1.07 to $1.27 per $100 of assessed value. Fairfax City is considering an increase of 8.5 cents, from 88 cents to 96.5 cents per $100 of assessed value. Falls Church is set to...
Federal refinancing program extended
Wednesday, March 10, 2010
Homeowners who haven't refinanced under the federal government's refinance program still have time, according to this article from the Washington Post. Owners who owe up to 25 percent more than their homes are worth can refinance their mortgages under the program, hopefully reducing their risk of foreclosure. Read the full story...  
Hampton residents still floundering after November flood
Wednesday, March 10, 2010
Hampton homeowners are still dealing with the aftermath of November's nor'easter in the form of flood debris and slow-moving repairs. Rising insurance rates are another problem -- "We are getting all sorts of quotes on flood insurance, anything from $1,700 to $2,900 annually," resident Tom Leary said. Resident Carole Garrison said local homeowners are also worried about the long-term value of their homes. "The...

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School districts across the Commonwealth consider their options
Tuesday, March 16, 2010
School boards and the officials that report to them are rolling up their sleeves in preparation for battles and tough decisions. The state budget, passed on Sunday, included $253 million in cuts to public education. School districts now must decide where those cuts will be felt. Read more about how local districts are handling the pinch....
Federal refinancing program extended
Wednesday, March 10, 2010
Homeowners who haven't refinanced under the federal government's refinance program still have time, according to this article from the Washington Post. Owners who owe up to 25 percent more than their homes are worth can refinance their mortgages under the program, hopefully reducing their risk of foreclosure. Read the full story...  
Discover social media & financing strategies with Pat Zaby at 2010 CRS Sell-a-Bration
Thursday, March 4, 2010
The Virginia Chapter of Certified Residential Specialists is holding its 8th Annual Sell-a-Bration Event on Wednesday, March 24, 2010 at the Glenmore Country Club in Charlottesville, starting at 8:30 a.m. Featured national speaker Pat Zaby is giving two seminars:
The scoop on the Realtor legislative agenda's progress: Capitol Connections #7
Tuesday, March 2, 2010
Things are looking good for the Realtor® Legislative Agenda as it makes its way through both chambers of the Virginia General Assembly. Read all about it in today's Capitol Connections newsletter.VAR bills that have passed both houses:
Two-thirds say we're in for a dip after housing tax credits expire
Monday, March 1, 2010
WaPo's real estate blog ran a poll over the weekend asking readers to predict what will happen to the housing market and housing prices after the housing tax credits expire.The poll is far from scientific, but it's definitely revealing of consumer sentiment. Here's what the survey says as of 5:20 p.m. on Monday, March 1:What will happen to the housing market when the home buyer tax credits expire?

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Appalachian Power Co. asks for 12.8% increase, commission recommends 3%
Sunday, March 14, 2010
Appalachian Power Co. wants to raise rates a whopping 12.8%. If the rate hike is permitted, a customer currently paying $105 per month would instead owe $118.44. The State Corporation Commission is recommending that commissioners consider limiting the rate increase to 3%. Appalachian's 2009 profit from its full service territory, including parts of Virginia, West Virginia, and Tennessee, totaled $155.81 million....
Tougher stormwater regulations postponed
Wednesday, March 10, 2010
Stricter standards to keep stormwater runoff under control -- and out of the Chesapeake watershed -- have been postponed until at least the end of 2010, and possibly as late as Dec. 1, 2011. The tougher standards would control the way new homes, shopping centers, and other developments are built. Environmentalists maintain the new standards are necessary to protect the watershed for future generations, but opponents...
The scoop on the Realtor legislative agenda's progress: Capitol Connections #7
Tuesday, March 2, 2010
Things are looking good for the Realtor® Legislative Agenda as it makes its way through both chambers of the Virginia General Assembly. Read all about it in today's Capitol Connections newsletter.VAR bills that have passed both houses:
Realtor Legislative Agenda sees more progress after Crossover
Monday, February 22, 2010
As Realtors® from across the Commonwealth arrived in Richmond for Realtor Day on the Hill last week, your VAR lobbying team was putting the finishing touches on advancing the 2010 Legislative Agenda (one of the most ambitious ever for VAR). Here's where we stand on the bills:
Crossover: Realtors sitting pretty as Virginia Legislature reaches halfway point
Wednesday, February 17, 2010
Realtors® from across the Commonwealth are in Richmond today to lobby for their legislative agenda, which is in a strong position at Crossover, the halfway point of the General Assembly session when bills that have passed one chamber cross into the other for action.

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School districts across the Commonwealth consider their options
Tuesday, March 16, 2010
School boards and the officials that report to them are rolling up their sleeves in preparation for battles and tough decisions. The state budget, passed on Sunday, included $253 million in cuts to public education. School districts now must decide where those cuts will be felt. Read more about how local districts are handling the pinch....
Appalachian Power Co. asks for 12.8% increase, commission recommends 3%
Sunday, March 14, 2010
Appalachian Power Co. wants to raise rates a whopping 12.8%. If the rate hike is permitted, a customer currently paying $105 per month would instead owe $118.44. The State Corporation Commission is recommending that commissioners consider limiting the rate increase to 3%. Appalachian's 2009 profit from its full service territory, including parts of Virginia, West Virginia, and Tennessee, totaled $155.81 million....
The scoop on the Realtor legislative agenda's progress: Capitol Connections #7
Tuesday, March 2, 2010
Things are looking good for the Realtor® Legislative Agenda as it makes its way through both chambers of the Virginia General Assembly. Read all about it in today's Capitol Connections newsletter.VAR bills that have passed both houses:
Realtor Legislative Agenda sees more progress after Crossover
Monday, February 22, 2010
As Realtors® from across the Commonwealth arrived in Richmond for Realtor Day on the Hill last week, your VAR lobbying team was putting the finishing touches on advancing the 2010 Legislative Agenda (one of the most ambitious ever for VAR). Here's where we stand on the bills:
Crossover: Realtors sitting pretty as Virginia Legislature reaches halfway point
Wednesday, February 17, 2010
Realtors® from across the Commonwealth are in Richmond today to lobby for their legislative agenda, which is in a strong position at Crossover, the halfway point of the General Assembly session when bills that have passed one chamber cross into the other for action.

View all

The scoop on the Realtor legislative agenda's progress: Capitol Connections #7
Tuesday, March 2, 2010
Things are looking good for the Realtor® Legislative Agenda as it makes its way through both chambers of the Virginia General Assembly. Read all about it in today's Capitol Connections newsletter.VAR bills that have passed both houses:
Need a new digital camera? Check out Realtor Magazine's new camera guide
Thursday, February 25, 2010
A camera is one of the most important business purchases a Realtor® can make. With so many buyers starting their search online, poor-quality images just don't cut it. Digital cameras have come way down in price and offer some pretty amazing features. But how do you decide which camera to buy? This new buyer's guide from Realtor® Magazine is a good place to start. And check out the September/October issue of...
Realtor Legislative Agenda sees more progress after Crossover
Monday, February 22, 2010
As Realtors® from across the Commonwealth arrived in Richmond for Realtor Day on the Hill last week, your VAR lobbying team was putting the finishing touches on advancing the 2010 Legislative Agenda (one of the most ambitious ever for VAR). Here's where we stand on the bills:
Crossover: Realtors sitting pretty as Virginia Legislature reaches halfway point
Wednesday, February 17, 2010
Realtors® from across the Commonwealth are in Richmond today to lobby for their legislative agenda, which is in a strong position at Crossover, the halfway point of the General Assembly session when bills that have passed one chamber cross into the other for action.
Get Active Legislative & Education Conference begins February 16
Tuesday, February 16, 2010
On-site information for Get Active Legislative & Education ConferenceJoin more than 500 influential Virginia Realtors® in Richmond February 16-19, 2010 for VAR's 2010 Legislative & Education Conference, including Realtor® Day on the Hill on February 17, and hours and hours of Continuing Education class credits to choose from.

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Appalachian Power Co. asks for 12.8% increase, commission recommends 3%
Sunday, March 14, 2010
Appalachian Power Co. wants to raise rates a whopping 12.8%. If the rate hike is permitted, a customer currently paying $105 per month would instead owe $118.44. The State Corporation Commission is recommending that commissioners consider limiting the rate increase to 3%. Appalachian's 2009 profit from its full service territory, including parts of Virginia, West Virginia, and Tennessee, totaled $155.81 million....
Tougher stormwater regulations postponed
Wednesday, March 10, 2010
Stricter standards to keep stormwater runoff under control -- and out of the Chesapeake watershed -- have been postponed until at least the end of 2010, and possibly as late as Dec. 1, 2011. The tougher standards would control the way new homes, shopping centers, and other developments are built. Environmentalists maintain the new standards are necessary to protect the watershed for future generations, but opponents...
Turbines proposed for Poor Mountain
Wednesday, March 3, 2010
According to the Roanoke Times, a Chicago-based clean energy company envisions a wind farm of 15 turbines atop a portion of Poor Mountain in Roanoke County. Invenergy's power-generating windmills would be 443 feet from base to the highest tip of a blade and occupy ridge lines along what has been described as one of Virginia's windiest land-based wind power generation sites.  Bent Mountain resident Ed Elswick, a...
The scoop on the Realtor legislative agenda's progress: Capitol Connections #7
Tuesday, March 2, 2010
Things are looking good for the Realtor® Legislative Agenda as it makes its way through both chambers of the Virginia General Assembly. Read all about it in today's Capitol Connections newsletter.VAR bills that have passed both houses:
Selling raw land? Not so fast, says NAR.
Monday, March 1, 2010
Under all is the land... But run afoul of a recent change to NAR's Code of Ethics about land brokerage, and your career could be six feet under it.Last fall, NAR amended Article 11 of the REALTOR® Code of Ethics to include land as a real estate discipline that requires specialized expertise.  Aricle 11 expains that Realtors® should not provide specialized professional services concerning a type of property or...

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DPOR funds shifted in outgoing budget
Monday, March 15, 2010
In order to balance the books for the Commonwealth’s current fiscal year (that is, the one that ends this June 30, not the new 2010-2012 budget), legislators approved moving funds from a number of state agency accounts into the General Fund. Included was a $948,807 transfer from the Department of Professional and Occupational Regulation’s cash balance. Monies in this account are derived from fees paid by...
Feds to force banks to accept short sales
Tuesday, March 9, 2010
A new program from the Obama administration hopes to take a plunger to the short-sale process by essentially forcing banks to accept less than the borrowed amount for a property. It will also pay those delinquent homeowners $1500 to help with relocation.The idea is that a short sale is better for everyone -- banks, underwater owners, and communities. Banks will take a hit, but less of one than if the home went into...
Two-thirds say we're in for a dip after housing tax credits expire
Monday, March 1, 2010
WaPo's real estate blog ran a poll over the weekend asking readers to predict what will happen to the housing market and housing prices after the housing tax credits expire.The poll is far from scientific, but it's definitely revealing of consumer sentiment. Here's what the survey says as of 5:20 p.m. on Monday, March 1:What will happen to the housing market when the home buyer tax credits expire?
VHDA increases income limits statewide
Monday, March 1, 2010
Good news for first time homebuyers! Now, more homebuyers may qualify for a VHDA FHA Plus or Homebuyer Tax Credit Plus loan that offers an affordable fixed rate and help with the down payment. Income limits increased in all areas of the state and sales price/loan limits increased in most areas.Visit VARbuzz.com for a chart containing a summary of the new limits and VHDA.com/loanlimits for complete details.
Sign-on Made Easy: Your New VARealtor.com Login
Monday, February 15, 2010
Ready to get in to the new VARealtor.com? For your first login VAR Members will need to use their e-mail address as their username and NRDS ID number (including any leading letters or zeros) as the password. You can change your password at any time, but you must log in with the e-mail address on file with NAR. Go to VARealtor.com/NRDS to update your membership information with NAR. Changes will be reflected...

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Virginia Real Estate Board releases Winter 2010 newsletter
Friday, March 5, 2010
In the Winter 2010 edition of VREB Speaking, available now for download, learn the top ten violations of the real estate regulations found by Virginia Real Estate Board since 2007 and find out how the Board is taking steps to ensure that agents and brokers who take online CE are getting a full 50 minutes of contact time per credit hour. 
Cooperative commissions of $600 or more require Form 1099-MISC
Wednesday, March 3, 2010
More tax stuff (it must be tax season)...According to NAR, the IRS requires listing brokers who pay a cooperative commission in excess of $600 to an individual who isn't their employee to complete a Form 1099-MISC. This isn't a new law, but it has come to NAR’s attention that not all real estate professionals are aware of it.Don't be one of the unaware: Information on this requirement is available from NAR Legal...
IRS stepping up audits on independent contractors
Wednesday, March 3, 2010
Better cross those T's, dot those I's, and make sure you've got good documentation for all those write-offs on your tax returns...According to NAR, the IRS has announced an expansion of audits of small businesses during 2010 to assess compliance with employer payroll tax rules and rules that apply to independent contractors. The IRS is assessing compliance, and not targeting any particular industry.Here's a story...
The scoop on the Realtor legislative agenda's progress: Capitol Connections #7
Tuesday, March 2, 2010
Things are looking good for the Realtor® Legislative Agenda as it makes its way through both chambers of the Virginia General Assembly. Read all about it in today's Capitol Connections newsletter.VAR bills that have passed both houses:
Selling raw land? Not so fast, says NAR.
Monday, March 1, 2010
Under all is the land... But run afoul of a recent change to NAR's Code of Ethics about land brokerage, and your career could be six feet under it.Last fall, NAR amended Article 11 of the REALTOR® Code of Ethics to include land as a real estate discipline that requires specialized expertise.  Aricle 11 expains that Realtors® should not provide specialized professional services concerning a type of property or...

View all

Feds to force banks to accept short sales
Tuesday, March 9, 2010
A new program from the Obama administration hopes to take a plunger to the short-sale process by essentially forcing banks to accept less than the borrowed amount for a property. It will also pay those delinquent homeowners $1500 to help with relocation.The idea is that a short sale is better for everyone -- banks, underwater owners, and communities. Banks will take a hit, but less of one than if the home went into...
Two-thirds say we're in for a dip after housing tax credits expire
Monday, March 1, 2010
WaPo's real estate blog ran a poll over the weekend asking readers to predict what will happen to the housing market and housing prices after the housing tax credits expire.The poll is far from scientific, but it's definitely revealing of consumer sentiment. Here's what the survey says as of 5:20 p.m. on Monday, March 1:What will happen to the housing market when the home buyer tax credits expire?
VHDA increases income limits statewide
Monday, March 1, 2010
Good news for first time homebuyers! Now, more homebuyers may qualify for a VHDA FHA Plus or Homebuyer Tax Credit Plus loan that offers an affordable fixed rate and help with the down payment. Income limits increased in all areas of the state and sales price/loan limits increased in most areas.Visit VARbuzz.com for a chart containing a summary of the new limits and VHDA.com/loanlimits for complete details.
What happens after the tax credits?
Saturday, February 27, 2010
Many people are wondering: What will happen to the housing market and home prices after the homebuyer tax credit expires on April 30 (as a reminder this is the date by which the home must go under contract; buyers have until June 30 to close)? This weekend, The Washington Post's real estate blog is running an unscientific poll asking its readers this very question.
Imminent wave of commercial real estate loan defaults could devastate community banks
Friday, February 12, 2010
Dire news from from the Congressional Oversight Panel, which announced a new report yesterday concluding that a surge of commercial real estate loan defaults will hit small banks hard.

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Northern Va. healthiest region in the state
Thursday, March 18, 2010
A report the Robert Wood Johnson Foundation and University of Wisconsin researchers says Northern Virginia is the healthiest in the Commonwealth. The report ranks areas by health factors such as obesity, and health outcomes, like life expectancy. Loudoun County has the healthiest behavior, while Fairfax County does best in health outcomes. Read more from the Associated Press....
School districts across the Commonwealth consider their options
Tuesday, March 16, 2010
School boards and the officials that report to them are rolling up their sleeves in preparation for battles and tough decisions. The state budget, passed on Sunday, included $253 million in cuts to public education. School districts now must decide where those cuts will be felt. Read more about how local districts are handling the pinch....
DPOR funds shifted in outgoing budget
Monday, March 15, 2010
In order to balance the books for the Commonwealth’s current fiscal year (that is, the one that ends this June 30, not the new 2010-2012 budget), legislators approved moving funds from a number of state agency accounts into the General Fund. Included was a $948,807 transfer from the Department of Professional and Occupational Regulation’s cash balance. Monies in this account are derived from fees paid by...
Legislature approves two-year budget
Monday, March 15, 2010
The Virginia legislature yesterday approved a two-year, $70 billion budget. Read about the impact to local communities below. Lawmakers approve 2-year, $70 billion budget (The Richmond Times-Dispatch) Highlights of the new budget plan (The Richmond Times-Dispatch) Assembly approves two-year, $70 billion Va. budget (The Associated Press)
Virginia legislature unlikely to adjourn on time
Saturday, March 13, 2010
The Virginia legislature will likely not adjourn tomorrow as scheduled. Members of the House and Senate continue to negotiate in an effort to find common ground on fee increases and proposed cuts to K-12 education. Read more below... On time budget looks less and less likely (The Richmond Times-Dispatch) Budget-talk tone makes Sat. adjournment possible (The Associated Press)

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Need a new digital camera? Check out Realtor Magazine's new camera guide
Thursday, February 25, 2010
A camera is one of the most important business purchases a Realtor® can make. With so many buyers starting their search online, poor-quality images just don't cut it. Digital cameras have come way down in price and offer some pretty amazing features. But how do you decide which camera to buy? This new buyer's guide from Realtor® Magazine is a good place to start. And check out the September/October issue of...
Sign-on Made Easy: Your New VARealtor.com Login
Monday, February 15, 2010
Ready to get in to the new VARealtor.com? For your first login VAR Members will need to use their e-mail address as their username and NRDS ID number (including any leading letters or zeros) as the password. You can change your password at any time, but you must log in with the e-mail address on file with NAR. Go to VARealtor.com/NRDS to update your membership information with NAR. Changes will be reflected...
Transcribe your voicemail to email and gain 1 week from increased efficiency every year. Special pricing for VAR from PhoneTag
Friday, February 12, 2010
Guest post from Daniel Odio, a member of VAR's Board of Directors:Washing your baby while you do the dishes may not be a good example of ways to be efficient, but here's something that is: Hook your cell or landline phone into a system that transcribes your voicemails into text. You'll get your voicemail as an email that you can read, with audio attached. It's kinda like magic. You can still listen to your...
What’s in a username? NAR rules for the use of the word Realtor in social media sites like Twitter, Facebook, Flickr
Thursday, January 7, 2010
 During our social media risk management classes, we’re frequently met with some surprise when we mention that, according to NAR policy, the word Realtor cannot be used in a Web address if it appears with a geographical term or descriptive phrase.  For example, the Web addresses AwesomeRealtor.com and ArlingtonRealtor.com would be unauthorized uses of the Realtor mark. Readers may be equally surprised to...

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Discover social media & financing strategies with Pat Zaby at 2010 CRS Sell-a-Bration
Thursday, March 4, 2010
The Virginia Chapter of Certified Residential Specialists is holding its 8th Annual Sell-a-Bration Event on Wednesday, March 24, 2010 at the Glenmore Country Club in Charlottesville, starting at 8:30 a.m. Featured national speaker Pat Zaby is giving two seminars:
Realtor Legislative Agenda sees more progress after Crossover
Monday, February 22, 2010
As Realtors® from across the Commonwealth arrived in Richmond for Realtor Day on the Hill last week, your VAR lobbying team was putting the finishing touches on advancing the 2010 Legislative Agenda (one of the most ambitious ever for VAR). Here's where we stand on the bills:
VAR Board of Directors takes action at Get Active conference
Monday, February 22, 2010
At last week's Get Active Legislative & Education Conference, the VAR Board of Directors took action on several items, two of which we thought you might be interested in knowing about right away:
VAR participating in Nationwide Open House: April 10-11
Thursday, February 18, 2010
Write it down: April 10-11. Nationwide Open House weekend. Buyers agents, grab your clients — it’s too convenient an event to miss. (“No, no — you don’t have to buy anything. Let’s just take a look, because there are so many open houses around here. I’ll pick you up at 10, OK? Who knows, maybe you’ll fall in love with something.”) Brokers, man your listings! Make sure as many homes as possible are open and inviting.
Crossover: Realtors sitting pretty as Virginia Legislature reaches halfway point
Wednesday, February 17, 2010
Realtors® from across the Commonwealth are in Richmond today to lobby for their legislative agenda, which is in a strong position at Crossover, the halfway point of the General Assembly session when bills that have passed one chamber cross into the other for action.

View all

Federal refinancing program extended
Wednesday, March 10, 2010
Homeowners who haven't refinanced under the federal government's refinance program still have time, according to this article from the Washington Post. Owners who owe up to 25 percent more than their homes are worth can refinance their mortgages under the program, hopefully reducing their risk of foreclosure. Read the full story...  
Feds to force banks to accept short sales
Tuesday, March 9, 2010
A new program from the Obama administration hopes to take a plunger to the short-sale process by essentially forcing banks to accept less than the borrowed amount for a property. It will also pay those delinquent homeowners $1500 to help with relocation.The idea is that a short sale is better for everyone -- banks, underwater owners, and communities. Banks will take a hit, but less of one than if the home went into...
Cooperative commissions of $600 or more require Form 1099-MISC
Wednesday, March 3, 2010
More tax stuff (it must be tax season)...According to NAR, the IRS requires listing brokers who pay a cooperative commission in excess of $600 to an individual who isn't their employee to complete a Form 1099-MISC. This isn't a new law, but it has come to NAR’s attention that not all real estate professionals are aware of it.Don't be one of the unaware: Information on this requirement is available from NAR Legal...
IRS stepping up audits on independent contractors
Wednesday, March 3, 2010
Better cross those T's, dot those I's, and make sure you've got good documentation for all those write-offs on your tax returns...According to NAR, the IRS has announced an expansion of audits of small businesses during 2010 to assess compliance with employer payroll tax rules and rules that apply to independent contractors. The IRS is assessing compliance, and not targeting any particular industry.Here's a story...
Two-thirds say we're in for a dip after housing tax credits expire
Monday, March 1, 2010
WaPo's real estate blog ran a poll over the weekend asking readers to predict what will happen to the housing market and housing prices after the housing tax credits expire.The poll is far from scientific, but it's definitely revealing of consumer sentiment. Here's what the survey says as of 5:20 p.m. on Monday, March 1:What will happen to the housing market when the home buyer tax credits expire?

View all

Legislature approves two-year budget
Monday, March 15, 2010
The Virginia legislature yesterday approved a two-year, $70 billion budget. Read about the impact to local communities below. Lawmakers approve 2-year, $70 billion budget (The Richmond Times-Dispatch) Highlights of the new budget plan (The Richmond Times-Dispatch) Assembly approves two-year, $70 billion Va. budget (The Associated Press)
Federal refinancing program extended
Wednesday, March 10, 2010
Homeowners who haven't refinanced under the federal government's refinance program still have time, according to this article from the Washington Post. Owners who owe up to 25 percent more than their homes are worth can refinance their mortgages under the program, hopefully reducing their risk of foreclosure. Read the full story...  
Tougher stormwater regulations postponed
Wednesday, March 10, 2010
Stricter standards to keep stormwater runoff under control -- and out of the Chesapeake watershed -- have been postponed until at least the end of 2010, and possibly as late as Dec. 1, 2011. The tougher standards would control the way new homes, shopping centers, and other developments are built. Environmentalists maintain the new standards are necessary to protect the watershed for future generations, but opponents...
Feds to force banks to accept short sales
Tuesday, March 9, 2010
A new program from the Obama administration hopes to take a plunger to the short-sale process by essentially forcing banks to accept less than the borrowed amount for a property. It will also pay those delinquent homeowners $1500 to help with relocation.The idea is that a short sale is better for everyone -- banks, underwater owners, and communities. Banks will take a hit, but less of one than if the home went into...
Virginia Real Estate Board releases Winter 2010 newsletter
Friday, March 5, 2010
In the Winter 2010 edition of VREB Speaking, available now for download, learn the top ten violations of the real estate regulations found by Virginia Real Estate Board since 2007 and find out how the Board is taking steps to ensure that agents and brokers who take online CE are getting a full 50 minutes of contact time per credit hour. 

View all

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