In its March National Foreclosure Report, CoreLogic found that foreclosures dropped 18.8% from March 2011. Even better, foreclosures in the first quarter were down 14.7% from the first quarter of 2011.
“Compared to a year ago, the number of completed foreclosures has slowed,” said Anand Nallathambi, chief executive officer of CoreLogic. “Since the foreclosure inventory is also coming down, this suggests that loan modifications, short sales, deeds-in-lieu are increasingly being used as an alternative to foreclosures to clear distressed assets in our communities.”
A Gallup poll found that 34 percent of Americans consider gold the best long-term investment. Real estate and stocks came in as number 2 and 3, with men preferring real estate and women preferring stocks.
Why gold? Historical reasons.
The First Quarter 2012 Virginia Home Sales Report has been released and brings good news for the Commonwealth! Several long-term trends indicate that Virginia’s housing market is continuing to stabilize.
VRLTA Update with Chip Dicks (Virginia Residential Landlord Tenant Act)
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The Virginia Association of Realtors® worked to help develop legislation to enhance the agency relationship disclosure requirements between licensees and those they represent. This means there are a number of changes to the existing agency laws in Virginia, and VAR wants to make sure that all members are up to speed on what they need to know to serve their clients and customers and stay in compliance with Virginia laws.
Many VAR members find success in the real estate industry by specializing in certain areas of the business. We call these areas "real estate specialties". VAR has several councils and alliances made up of these specializing members to ensure that these member contituencies are represented and that VAR continues to provide great services and products to these member segments. If you would like to learn more about becoming involved in these specialty areas, please contact Members@VARealtor.com.
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Wednesday, February 15 is REALTOR® Day on the Hill. You won't want to miss this important chance to talk directly with your legislators on issues that affect your business. Stick around for the Housing Policy Forum later in the afternoon, then make your way to the Jefferson for our can't-miss Legislative Reception.
On Wednesday, the annual Political Advocacy Luncheon with special guest speaker David Stevens, who is current CEO of the Mortgage Bankers Association and former Federal Housing Administration commissioner. Following lunch, nationally syndicated Washington Post real estate columnist Ken Harney will emcee a special housing policy forum for Virginia REALTORS. Panelists for that forum include Mr. Stevens, National Association of REALTORS’ past president Ron Phipps, and George Mason University economist and Housing Wire contributor Dr. Anthony Sanders. Then, following the panel, we’ll host our 2012 Legislative Reception at the Jefferson Hotel.