Guest post. Janice Burgess from the Virginia Housing Development Authority has some wisdom to share:
Take note—this June won’t be normal for end-of-month closings. Lenders and settlement agents across Virginia anticipate a very high volume of closings scheduled to beat the June 30 federal tax credit deadline. To make sure your homebuyers don’t miss out on their tax credit, be proactive.
Debate over Loudoun's Countywide Transportation Plan (CTP) is already heated, and the issues surrounding it are far from settled. County supervisors disagree on the placement and size of potential roads, whether public transportation options should figure into the plan, and whether the model being used to predict future needs is dependable.
Homeowners can be greatly affected by the plan, especially if their properties are near planned roadways.
Read more in Leesburg Today....
Loudoun County officials are questioning the wisdom of placing a large development in an area that already has two other similar developments. If approved, Kincora Village would be built at routes 7 and 28. The proposed development would feature offices, retail space, and residential units as well as a $30 million baseball stadium.
Well-planned development can have a positive effect on local home prices, as properties near the new development become more attractive.
The proposal for Kincora Village will be further evaluated, and action on it could come this summer.
Read more in The Washington Post....
Faced with dwindling resources and the very real possibility that the parks could run out of money in 2014, Fairfax County officials are considering new sources of revenue. Options on the table include charging entrance fees and selling park naming rights to corporations.
Quality parks are community assets that can positively impact the value of nearby homes.
The Caroline County Board of Supervisors is courting an unnamed business, offering about $460,000 in incentives and infrastructure improvements if it locates in the Caroline Commerce Center off Interstate 95.
The company reportedly intends to construct a 340,000 square-foot distribution center, creating 150 new jobs at market rate salaries. It will also invest nearly $50 million in real and personal property.
Homeowners and Realtors® in Loudoun County should be concerned about the impact of the proposed Chesapeake Bay Preservation Ordinance. If enacted, it would make Loudoun County the first non-tidewater county to enact the restrictions, and the only one to do so without being required by law.
The ordinance would designate segments of the county either as a Resource Protection Area (RPA), (land that is within 100 feet of a stream, pond or other body of water), or as a Resource Management Area (RMA), (land that is outside an RPA but if developed could have an adverse effect on nearby waterways). Homeowners in designated RPAs would likely find some of the ordinance's provisions onerous, as any activity that disturbs land near a stream could be affected.
The Martinsville School Board has passed a $20.1 million budget for next year. That's about $3.5 million less than the current budget. The spending plan calls for 52 positions to be cut, and 31 people will lose their jobs.
School budgets are of interest to homeowners because they directly impact property tax levels. They can also indirectly affect property values -- homes in school districts with good reputations are sought after by young families.
On May 17th, NAR launched an all-member call for action to urge the House and Senate prevent new tax burdens on Real Estate.
If you haven’t responded to the call waiting for you in your e-mail inbox, you can do so here.
The Virginia State Police plans to build a training facility in Powhatan on 18 acres of state-owned farmland off Old River Trail. The plans include four shooting ranges to be situated near a quiet, historic neighborhood. The facility would be used by the state police, the Department of Game and Inland Fisheries, and the FBI.
"The amount of noise we're talking about is huge," said Powhatan Supervisor Carson Tucker. "The closest home is 1,000 feet away."
Because the site is state-owned property, the facility does not require county approval. It has to pass an environmental impact review from the Department of Environmental Quality and then gain final approval from Virginia's Secretary of Administration.
This day marks the date after which each body of the Virginia General Assembly may only consider bills passed by the other house.