Governor Bob McDonnell says that Virginia has seen a net increase of nearly 72,000 jobs since February. Experts say that an improved job market will help lead a general economic recovery and bolster the housing market. It's also positive news for the commercial real estate market.
The net gain in jobs could have a strong impact on homeowners, who are more likely to keep up with their mortgages if they are employed. Sellers looking to market their homes will also benefit from an increase in jobs, as buyers with jobs will be able to qualify for financing.
Read more from The Associated Press....
For the vast majority of Realtors®, satisfying the Virginia Real Estate Board's (VREB) continuing education (CE) requirements is something you do to improve yourself and your professionalism. To stay current on what's happening in the industry, you seek out high-quality education like (shameless plug) the REal Show, courses from your local association, or from other approved real estate schools.
This just in: Northrop Grumman has purchased 2980 Fairview Park, near the corner of the Beltway and Route 50 in Fairfax County to house its corporate headquarters when it relocates from California. The defense contracting company is expected to bring 300 high-paying executive level jobs to Fairfax, a move courted heavily by Gov. McDonnell.
Earlier, Northrop Grumman announced that it had selected Virginia over Maryland and DC for its corporate offices. Fairfax, Arlington and Alexandria were considered the frontrunners to land the mammoth company's headquarters.
The Henrico CountyPlanning Commission will hold a public hearing about the proposed mixed-use designation for the Innsbrook area. A study draft released in May suggests gradually changing Innsbrook from what is today mostly office space to a walkable community with a mixture of office, retail, entertainment, and residential development.
The original study area includes Innsbrook Corporate Center and encompasses acreage between West Broad Street and Nuckols Road near Interstate 295. That space is largely designated for office use under the 2026 Comprehensive Plan adopted in August. Officials will consider whether to add a 166-acre residential area to the study. Staff are recommending that the area continue to be zoned for single-family residential use.
Gov. McDonnell has embarked on a mission to create the Commonwealth's first statewide housing policy. The policy is expected to guide the Commonwealth's approach to issues such as homelessness, affordable housing, workforce housing, economic development, healthy neighborhoods, effective coordination with transportation, environmental issues and other housing related opportunities.
Time is running out to provide comments or ideas to Gov. McDonnell's Housing Policy Advisory Committee. On July 9, the suggestion box will be closed. If you'd like to provide input to the Advisory Committee, act now.
With top-rated speakers like Future Law's Chip Dicks, Lem Marshall, and prominent real estate attorney Grimes Creasy (just to name a few), this event is a must-attend for professional and rookie property managers alike to stay up to date – and out of trouble – in their businesses.
But: it's not all business and no fun! A round of speed networking (with cocktails!) and the popular Casino Night event ensure there's plenty of playtime built in.
Visit the event page to see all the details, download a schedule, and more!
Watch your mailbox this week for the latest issue of Commonwealth Magazine. Here's what to expect:
Agenda will be available June 10th
Prince William County supervisors have voted to compel an 83-year-old woman and her sons, Parker Family LLC, to turn over their $100,000 parcel of land -- without compensation.
“They basically just get the property,” said Sally Hankins, attorney for Parker Family LLC. “The county is going to file a document … saying they’re initiating a quick-take on the property.” The filing will claim the property's value as zero, allowing the the county to take it without payment.