If you are a property manager who uses potential tenants’ credit reports as part of your rental process, you need to be aware of a significant change to the law.
This is straight from NAR’s September “Did You Know?”:
Yes, you read that right: Nine of our property management forms — leases, addenda, disclosures, etc. — have been updated.
This is a major overhaul done in collaboration with the Northern Virginia and Richmond associations along with VAR’s Standard Forms Working Group to make these forms more user friendly, and to ensure accuracy.
If you do any work in property management you need to head to VAR’s Forms Center and get the new documents.
The forms affected are:
Richmond, VA, July 21, 2011- Despite slower home sales during second quarter 2011, compared to second quarter of 2010, the housing market in Virginia may be ready to surge forward in the third and fourth quarters. Other good news is that we can see a clear increase in sales from first quarter 2011 to second quarter 2001.
Broker Licensing Modules
All modules run from 5 pm - 9 pm daily (no classes held on Sat or Sun)
July 18-25, 2011 Appraisal
Aug 8-15, 2011 Real Estate Law
Broker Management & Supervision Classes
4 hours or 8 hours - you pick.
Instructor: Mary Womack, Mary Womack Realty
The 2011 Session of the General Assembly, like every other session, produced many changes in Virginia law. Most of these will take effect on July 1. VAR’s legislative team was able to secure many changes during this year’s General Assembly session that will have a profound effect on your real estate business.
Please click on link below for detailed information and registration.
Negotiations between NAR and the Federal Trade Commission over the MARS Rule have not yet produced the desired exemptions for Real Estate Professionals.
The MARS Rule remains in effect. (See earlier article HERE) (excerpt below)
If you work with clients who are doing short sales, thinking about short sales, or who you believe should be thinking about short sales, the Federal Trade Commission might be interested in you. You might not realize you're engaging in what's considered mortgage-relief counseling -- when you cross the line from helping someone do a short sale to giving them advice about it.
April 29, 2011 – Virginia residential home sales in the first quarter of 2011 have followed the general trend of the last several years with year-to-date sales 0.3% above last year. January and February home sales in 2011 exceed the same month the prior year (by 2.5 % and 3.5%) according to the Virginia Association of REALTORS®’ Home Sales Report.
For the complete Virginia Quarterly Home Sales Report for First Quarter 2011, please CLICK HERE.