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Tuesday, January 21, 2014

Earlier this month we told you how NAR was working to extend tax relief for homeowners who had some or all of their mortgage debt forgiven.

Congress adjourned in 2013 without taking up the bill. (While there had been some movement in the Senate, the House didn’t take action on its version.)

Last week came some good news: Congressman Bill Foster (D-Illinois) introduced the Homeowners Debt Relief Extension Act (H.R. 3856), which would extend the mortgage debt tax exemption that’s been in place since 2007 for another two years.

DSNews writes:

Tuesday, January 21, 2014

The short sale is an important tool for helping distressed homeowners avoid foreclosure and eliminate their mortgage debt, however they can still be a bit of a mystery for borrowers. There are misconceptions and there are little-known facts.

Freddie Mac senior vice president Tracy Mooney has a detailed blog post dispelling some of the more common myths about short sales.

Among other things, she explains why “Even if you are current on your mortgage payments, you may be eligible for a short sale” and “If you meet the other eligibility requirements, you may be able to obtain a Freddie Mac short sale even though you have a second mortgage.”

Wednesday, January 15, 2014

Virginia Terry McAuliffeGovernor Terry McAuliffe has confirmed that he will be a special guest speaker at Get Active — VAR’s legislative advocacy conference — from 2:30 to 3:30 on Wednesday, February 12. McAuliffe’s talk will follow REALTOR® Day on the Hill, where VAR members from across the commonwealth meet with their legislators on Capitol Square.

Tuesday, January 14, 2014

VAR has received great news regarding a Virginia Supreme Court case the VAR Strategic Funding Committee supported with Legal Action Funds.

VAR’s Strategic Funding Committee administers the Legal Action and Issues Mobilization funds to address issues, conflicts, or disputes involving property or development rights, zoning and land use issues, or other actions or policies that adversely affect the business of real estate.

At the request of the Williamsburg Area Association of REALTORS® and Home Builders Association of Virginia (HBAV), VAR filed an amicus curiae (“friend of the Court”) brief in the Virginia Supreme Court for the case Board of Supervisors of James City County, et al v. Windmill Meadows, LLC, et al.

Tuesday, January 14, 2014

Keep up with VAR's legislative efforts on RealtorsChoose.com. Don't miss the first edition of Capitol Connections, our weekly video update on the General Assembly session featuring VAR's director of political operations, Heidi Schlicher.

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The VAR Public Policy Committee, composed of 21 volunteer REALTOR® members, works diligently throughout the year to create VAR’s annual Legislative Agenda.

Friday, January 10, 2014

Two of the four “Success Stories” in this month’s edition of NAR’s REALTOR® Party News came from Virginia.

First was “Virginia Association Helps Elect 16 REALTOR Champions“:

Wednesday, January 8, 2014

After almost a year of discussions with REALTORS® and staff about home inspections and negotiations, VAR is pleased to present a new, clearer, and more efficient process.

Purchasing a home is complex, and the new home inspection process is designed to simplify the transaction. It involves two updated forms: VAR 600D (“Home Inspection Contingency Addendum”) and VAR 600E (“Home Inspection Removal of Contingency Addendum”).

Tuesday, January 7, 2014

After almost a year of discussions with REALTORS® and staff about home inspections and negotiations, VAR is pleased to present a new, clearer, and more efficient process.

Monday, January 6, 2014

The VAR Public Policy Committee, composed of 21 volunteer REALTOR® members, works diligently throughout the year to create VAR’s annual Legislative Agenda.

Monday, January 6, 2014

There are a few stories circulating of buyers “trying out” a home before buying it, i.e. sleeping in it for a night.  Have you heard of this? Have you allowed this or know of sellers who have allowed this?  Why do it?  What are the possible discoveries?