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Virginia finishes 2013 strong

Virginia home sales were 7.58% higher in December 2012 than in December 2013, making a strong finish for the year.  Compared to the previous three years, Virginia sales were higher in every month of 2013 except for November when sales dipped below 2012 levels. Despite a slow pace in November, quarter four sales were up 2.86% year-over-year. Year-over-year increases in sales are evidence of Virginia’s strong and consistent market recovery.

Freddie Mac dispells short-sale myths

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.”

VAR’s 2014 Legislative Package

Keep up with VAR's legislative efforts on 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.

VAR introduces streamlined home inspection process

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.

Quick look: VAR's 2014 legislative priorities

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

VAR CEO Terrie Suit featured in Inside Business

VAR CEO Terrie Suit was featured in Hampton Roads-based Inside Business magazine, where she wrote the 2014 What’s Ahead forecast for real estate. Terrie was asked, among other well regarded CEOs across the state, to discuss the outlook for a business sector — in her case, the real estate market.

Here’s a sample of what she had to say:

Realtors are optimistic by nature, but this optimism is guided by some solid market facts.

2014 WAAR Annual Golf Tournament

May 7, 2014 - 12:00pm - 7:00pm
Stonehouse Golf Club 9700 Mill Pond Run Toano, VA 23168

Registration & Driving range open at 10:30 am

Lunch with shot gun start at 12 pm.

Buffet dinner with prizes and auction follows.

Per golfer - $100

Save $ if your 4some registers at the same time.

Some non-golfer events will be available.  Non-golfers are welcome to attend buffet dinner for a charge.

Registration form will be available by April 1.

For more details, call WAAR 757.253.0028


NAR works to extend mortgage cancellation tax relief

FROM:        NAR Government Affairs
RE:              Mortgage Cancellation Tax Relief

'Tis the Season

Virginia’s typical seasonal decline has set in. November sales and prices were down and there were no changes in unemployment or interest rates to counter-act this seasonal trend. Year-over-year metrics are also down since Virginia experienced an unusual uptick in sales last November (a break from tradition as shown in graph below). Nonetheless, Virginia’s housing market is poised for full recovery and there are a number of reasons to look forward to next year. First, the U.S. Census reported increased housing starts in November, especially in the U.S. South which includes Virginia. Confident builders and a record number of starts signal that there will be more inventory in the months to come.

Eastern Shore Association of REALTORS® installs new board, officers

The Eastern Shore Association of REALTORS® held a Christmas luncheon in which it installed a new board of directors and officers for 2014. NAR Political Representative Shannon Burke was guest speaker and Delegate Lynwood Lewis spoke briefly as well.  VAR President-Elect Deborah A Baisden installed the new board.