Dear Member,
- Just released: Virginia housing stats quarterly analysis (go)
- Stop chasing your tail: VAR's FREE route optimizer saves you time and money! (go)
- Need help educating clients and customers? Get your favorite VAR publications on demand. (go)
- Two Virginia REALTOR® associations and cities share Ambassadors for Cities awards (go)
- Short sale tips from VAR Special Counsel Lem Marshall (go)
- National home sales see modest improvement (go)
- Fair housing: It's not an option, it's the law (go)
- Economic development is hot in Virginia (go)
- Commercial real estate outlook declared 'stable' in first quarter (go)
- Countdown to Convention: September 24-28 in Baltimore (go)
- Brokers can now track agents completing online ethics training (go)
- It's a buyer's market...learn how to help sellers (and build your bottom line) with the newest webcast (go)
- VREB regulations go green (go)
First the bad news: Statewide, home sales in Virginia were down 27 percent in the first quarter of 2008 compared with the first quarter of 2007. The statewide median sales price is also down nine percent for the same period. A possible national recession, foreclosures on the rise, tight credit markets, potential federal legislation--all of these factors make it difficult to predict where the market is going.
Here's the good news: Some areas of the Commonwealth saw a double-digit increase in the median sales price in the first quarter, including Charlottesville and Lynchburg. The state's mid-sized metros (Hampton Roads, Richmond and Roanoke) saw their median home prices unchanged over the same period. Virginia's housing market is performing better than many other states, and our diverse economy is a key factor in Virginia's ability to weather a downturn.
[Read more about VAR's quarterly home sales report]Got listings to show this weekend? Want to show them in the most time-efficient and fuel-efficient way possible? With gas prices in some areas of Virginia exceeding $4 a gallon and a personal life to tend to, we know you do!
Check out IdealRoute.com,
a new mapping service from VAR that computes the most efficient route
between three or more properties. Here's how it works:
- Park your web browser at IdealRoute.com.
- Type or paste addresses into the text box below the map one by one, clicking "Add!" after each
- Click on "Calculate Fastest Roundtrip"
The service automatically computes the optimal route between the properties and gives you complementary turn-by-turn directions to all locations using Google Maps.
There's a short video tutorial near the bottom of the page that you can watch for more detailed instructions.
There's already been good buzz from Inman News and The Boston Globe about the service, so check it out for your next round of showings.
[Check out IdealRoute.com]
Have you been searching for copies of How to
Best Buy or Sell a Home? A REALTOR®'s Role? VAR's
About the Market postcard? Soon, you'll be able to print
professional quality versions of these publications from your desktop. VAR's online
publications store opened April 15 offering members the opportunity to
choose and print brochures and publications they know will benefit their
clients and their business. High quality prints of VAR's About
the Market postcard are now available through the
site. Here's a list of a few of the publications that will be
available in the coming weeks:
- How to Best Buy or Sell a Home
- A REALTOR®'s Role: Understanding Your Options
- 2008 VAR Leadership Directory
- 2008 Key Contact Handbook
- 2008-09 REALTOR® Designation Handbook
- VAR's Broker ToolKit
Check back every Tuesday to see what's new on our print-on-demand site and let us know what publications you'd like to see made available. The more copies you purchase the more you save, so stock up today on these tools designed to improve your business.
[Shop VAR's new print on demand store]
As short sales continue to crop up all around the Commonwealth, REALTORS® need to know how to deal with one. VARbuzz blogger Danilo Bogdanovic of Market Advantage Real Estate, member of the Dulles Area Association of REALTORS®, recently attended a short sale seminar with VAR's Lem Marshall and entered this report.
Watch for a brand new Webcast on short sales, featuring Lem Marshall, coming very soon to VARealtor.com. [Read the post on VARbuzz.com]
NAR reports national sales eased a little higher in February compared to the dismal numbers reported in January, but nobody is saying the housing recession is over. Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 2.9 percent to a seasonally adjusted annual rate of 5.03 million units compared to 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007.
"We're not expecting a notable gain in existing-home sales until the
second half of this year, but the improvement is another sign that the
market is stabilizing," said Lawrence Yun, NAR chief economist.
The
national median existing-home price for all housing types was $195,900 in
February, down 8.2 percent from a year earlier when the median was
$213,500.
However, the most recent data shows roughly half of the metro areas in the U.S. with price increases. Total housing inventory fell 3.0 percent at the end of February to 4.03 million existing homes available for sale, which represents a 9.6-month supply.
April is Fair Housing Month, and Virginians will celebrate with a day of speakers and panel discussions on key housing issues from 9 a.m. to 4 p.m. on Wednesday, April 30, at the Virginia Historical Society in Richmond.
The Rev. Dr. Wyatt Tee Walker, a protégé of the late Dr. Martin Luther King, Jr. and former pastor of the Canaan Baptist Church of Christ in New York City's Harlem neighborhood, will deliver the keynote address. Dr. Walker is commissioner of the World Council of Churches' Program to Combat Racism and is president of the American Committee on Africa and the secretary-general of its Religious Action Network. He is also chairman of the consortium for the Central Harlem Development responsible for a $65 million in housing construction in central Harlem.
The Virginia celebration of the 40th anniversary of the passage of the Fair Housing Act will include discussions on reasonable accommodation, cultural diversity, accessibility guidelines, and cultural diversity.
Admission to the event is $10 and includes lunch. The event is sponsored by the Department of Professional and Occupational Regulation, Housing Opportunities Made Equal, HUD, and Virginia Housing Development Authority. Continuing Education Credit is available for REALTORS®.
April 23 is the deadline for online registration. For more information, call (804) 367-8530.
[Learn more about this special event]
Expansion Management and the National Policy Research Council tracked the employment expansion activity of 19 million companies during the past four years. As part of the study, Virginia was ranked sixth among the top 10 states deemed "economic development hot spots."
- The Virginia Beach-Norfolk-Newport News metropolitan statistical area (MSA) was ranked third among top 20 large metros
- The Richmond-Petersburg MSA was ranked fourth among top 20 mid-sized metros
- Charlottesville was ranked 18th on the top 20 small metros
- Fairfax County ranked third among the top 20 large counties
- Prince William County ranked 11th and Chesapeake ranked 17th among top 20 small counties
The rankings were based on the percentage of business establishments that employ at least five workers, have existed throughout the last four years and added enough jobs to achieve a growth index of at least three.
Mark your calendar! VAR's Convention & Expo 2008 is September 24-28!
This year's convention boasts nationally-known keynote speakers that will challenge your thinking and help you seize new opportunities. Word of mouth marketing guru Andy Sernovitz, formerly CEO of the Word of Mouth Marketing Association and author of Word of Mouth Marketing will enlighten you with practical insights on turning your customers into a volunteer sales force. Innovation expert Douglas Rushkoff, author of Get Back in the Box: Innovation from the Inside Out will challenge you to spend more time improving on your service and less time on branding. Robyn Waters, author of The Hummer and the Mini: Navigating the Contradictions of the New Trend Landscape, and a former Target executive will make you think big about the paradoxes you encounter in business.
Check out pictures from last year's Convention & Expo and see for yourself how VAR creates a remarkable and memorable convention experience.
Virginia broker managers may now see which of their agents have completed, or are in the process of completing, the series of 16 lessons on the Code of Ethics provided at the VAR website.
After logging in, brokers can now see a section in the lower left corner headlined "For Brokers." Those who click the link are taken to a page called "Broker Report Summary." Here you'll see which of the agents in that firm have taken the lessons and where they are in the series. Also available now is the ability for the broker to send a reminder e-mail with a simple click to each of his or her agents.
Insurance industry giant and philanthropist W. Clement Stone once famously pointed out, "Sales are contingent upon the attitude of the salesman - not the attitude of the prospect." No matter what the market conditions may be, selling a home requires knowledge, training and an understanding of the complex nature of the transaction.
The newest Rookie Webcast offers a comprehensive guide to making a sale. From defining the agent's role in the selling process to making open houses more effective, the Webcast provides insights into the minds of sellers and explores the concept of partnering. The Webcast also delivers tips on how to build an effective listing presentation and how to competitively position a property in today's marketplace.
Rookie Webcasts are designed primarily for agents who have completed pre-license training and have less than three years of real estate work under their belts. The series of Webcasts will also appeal to more experienced agents seeking refresher training or targeted training to overcome a specific challenge.
Working with Roger Turcotte, CBR, DREI, GRI, a nationally recognized leader in managerial training for real estate professionals, VAR has developed these Webcasts to provide new REALTORS® with the tools and skills needed to maximize your efforts and improve your bottom line.
Managers can also take advantage of the Rookie Webcasts through training guides which are provided with each Rookie Webcast. These guides include course descriptions, materials and support suggestions designed to help managers conduct effective in-house training programs for newer agents.
Get started with this on-demand training program whenever you're ready. Once the instructional video page opens, select the "download" tab to get the program's printable companion guideline.
Remember, each of the Webcast programs is archived at VARealtor.com under the Member Services tab for those who may miss a month or simply want a chance to refresh their skill set at a later date.
Four other 15- to 30-minute Rookie Webcasts that offer easy access to quality training are:
Developing A Profit Based Business
Selecting the Best Clients to Work With
Fundamentals
of Negotiating
Conducting
Effective Client Presentations
Up-to-date Virginia Real Estate Board regulations are now just a download away. Licencees across the state can now help VREB save a few trees (and dollars) by downloading their copy of the new regulations. Please note that VREB will not be mailing hard copies of the new regulations to licensees.
Read a synopsis of this year's regulatory changes written by VAR Special Counsel Lem Marshall. Lem will also offer brokers education on what these changes mean to their business during the the 2008 Risk Management Roadshow for Brokers. Sign up today.
[Read a summary of the new VREB regulations]
May 5
IREM- Chapter 92
Rockville, MD
VRLTA
Update
April 29
Virginia Peninsula Association of
REALTORS
Hampton
Review the application and compliance of the Virginia Residential Landlord and Tenant Act and other applicable state laws. The course is begin taught by John G. " Chip" Dicks, Esq. The course has been approved for three hours Legal Updates and three hours Real Estate Related Continuing Education. It has also been approved for six hours Elective Credit for Post License Education.
VRLTA
Update
May 6
Glen Allen
FIN402-
Investment Real Estate Financial Tools
May 7-8
University of
Phoenix
Rockville, MD
2008 Risk
Management Roadshow for Brokers
May 8
Wayside
Inn
Middletown
Legal updates for brokers & reducing risks (and headaches)
VAR and local associations are teaming up to give brokers and managers local access to the risk management training and CE credits they need. Special Counsel Lem Marshall will deliver risk management lessons essential for success in today's market.
GRACRE 17th Annual Golf Tournament
May 8
Country Club
of Virginia
Richmond
Join members of GRACRE to enjoy your favorite sport and raise money to benefit Virginia Supportive Housing and the Richmond Redevelopment & Housing Authority.
RS
206-Technologies to Advance Your Business
May
20
Hampton
Learn about the latest tools and systems to become more productive, increase profits and to differentiate you in the marketplace. Topics include: taking e-mail to the next level for various marketing campaigns, learning new ways to use digital imaging, examining a variety of virtual tours and their marketing applications, understanding the power of PDAs, other handheld computing technologies and much more.
CCIM
102
June 2-3 & 5-6
VAR Headquarters
Glen
Allen
Get cutting edge analysis tools for evaluating and choosing the ideal site for a project. Learn about Economic Base Analysis.
Ninja Selling©
I & II
June 9-10
Alexandria
Modeled around the methods of one of the most successful real estate companies in the country, Ninja Selling features instruction from Walter J. Frey, CRS, in self-image development, getting your life in balance, values clarification, writing affirmations, goal setting, the interviewing process, and advanced time management.
VAR's affiliate members understand the needs and vantage point of REALTORS®. Affiliate members are a REALTOR®'s first resource for quality, integrity, and customer service. Support the businesses that support your association!
Virginia Association of REALTORS®
10231 Telegraph Rd., Glen Allen, VA 23054, Tel. (804) 264-5033