Relocation
Danville's economy may be improving
Signs pointing to economic improvement in Danville include an uptick in building permits and retail sales tracking slightly higher than average for Virginia. That's good news for a city burdened by high unemployment -- 14.6% in March.
As the overall economy improves, homeowners can expect house prices to stabilize as more people look to buy homes.
Read more in the Danville News....
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What do you get for your Realtor dues? Here’s the real answer.
Realtors® are in business to make money, not give it away. So, why do they pay dues year-after-year?
Get the real answers online in VAR’s 2010-11 Member Guidebook. This year’s Guide is one-stop resource for answers on the real return on Realtor® dues. Visit www.VARealtor.com/MemberBenefits to access the Guide as an e-book today.
Did you know?
Being a Realtor®….
DAAR Education Day
Fun, Lively and Educational: Breakfast, Lunch and Snacks included; Door prizes; Mandatory, Elective and Informational Classes all day. All this for only $99.
Virginia's housing market risk declining according to new report
The risk of a Virginia home losing value over the next two years is dropping as the economy improves, according to the latest PMI Market Risk Index report. The report doesn't discuss how much a home's value could change -- only the likelihood that in two years it will be worth more or less than it is today. The Market Risk Index is historically about 80% accurate.
Researchers calculated the risk using factors such as unemployment rates, housing affordability, and past price appreciation.
Q1 Virginia home sales report released
Our quarterly home sales report for transactions completed between January 1 - March 31, 2010 was released today. The highlights:
Gov. McDonnell's development deals will create 3,100 jobs for Virginians
In Governor Bob McDonnell's first 100 days in office, Virginia closed more than 50 economic-development deals that together will create 3,100 jobs and generate $360 million in investments in the Commonwealth.
Jobs and community investments are key issues for homeowners. New jobs allow existing homeowners to pay the mortgage and stay in their homes. A strengthening economy also encourages buyers to shop for new homes, possibly driving up prices and holding down the number of days houses stay on the market before being sold.
Read more in the Richmond Times-Dispatch....
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Gov. McDonnell to create Housing Policy Advisory Committee
Homeowners and Realtors® will be the beneficiaries of a comprehensive statewide housing policy created by Gov. McDonnell. He is expected to sign an executive order this week outlining the policy objectives. It is the first time Virginia has embarked on creating a statewide executive housing policy.
At a news conference in Richmond this morning, the Governor announced the appointment of a Housing Policy Advisory Committee that will be charged with developing a housing policy for the Commonwealth. The plan is expected to cover housing related issues like homelessness, workforce housing, economic development, healthy neighborhoods, effective coordination of transportation, and environmental issues.
Reserve rebates for energy-efficient appliances starting Wednesday
Virginians planning to purchase high-efficiency appliances should hop on the Web April 28 to reserve rebates of up to $300. Appliances must be Energy-Star qualified to be eligible for the rebate.
Other limitations: program participants must be Virginia residents, and the appliances must be purchased for residential use. The new appliance must replace an existing appliance.
Northrop Grumman just weeks away from choosing location for new headquarters
Officials say that Northrop Grumman is just weeks away from deciding where to establish its new headquarters. Virginia, Maryland, and the District of Columbia are all under consideration. The company plans to open the new 300-person facility in about a year.
Fairfax and Arlington Counties are both in the running to be the defense contractor's new home town. Landing Northrup Grumman would be a significant economic boost for either county - to the benefit of local homeowners, who could see a bump in property values along with the creation of highly paid jobs.
Read more in the Richmond Times-Dispatch....
HVCC at one year: What have we learned? What's coming next?
Yes, it's true: HVCC is one year old. To help members understand how to cope with the changes brought by HVCC , VAR published a feature story in the September/October 2009 edition of Commonwealth magazine and in 2010 helped to pass legislation (HB408) implementing regulations for appraisal management companies who operate in the Commonwealth. NAR continues pushing for changes to HVCC on the national level.