Tax officials in the DC area are trying new, and maybe extraordinary, efforts to collect tens of millions of dollars in delinquent payments. These efforts are hoping to help combat the huge projected budget deficits that threaten to slash public services.
Together, DC area localities are owed more than $40 million in overdue real estate taxes from fiscal 2010. In Arlington, real estate tax delinquency has nearly tripled since 2003.
Though collecting cars and the other measures may seem extreme, they ultimately may seem minor compared to the cuts to public service that may happen.
An Arlington church is building an apartment development above the church sanctuary as a way to generate revenue while they face a shrinking budget.
The Views at Clarendon will consist of 70 affordable apartments and 46 market-rate apartments on eight floors being built on top of the two-stort sanctuary of First Baptist at Clarendon. The development is expected to open late next year and is gaining national attention from many urban churches.
As sour as the economy has been lately, a panel of executives from four of the region's largest REITs were downright bullish about the outlook for commercial investment in Richmond and other second tier cities.
It's a fact: Real estate designations are a sure-fire way to increase your knowledge and earnings. With 20 designations available through the National Association of REALTORS and NAR family organizations, and even more available from other sources, you're sure to find one that fits your needs.
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- Case study of NVAR's new headquarters
Pending approval of 3 hours elective CE credit.
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Buried in the last paragraph of an article about a 4.1% increase in the Commonwealth's general fund revenues was a potential bit of good news for Virginia's housing markets. Apparently, Virginia's recordation tax revenues have grown for two consecutive months, a sign that home sales may be strengthening.
Freddie Mac's weekly survey of mortgage rates revealed another record low point for fixed rate mortgages:
It's almost tax time! Yes, 2010 is winding down and many Virginians are taking a look at their potential tax liability and deductions for that April 15 deadline. When it comes to real estate taxes, there are some rules about what is, and isn't, deductible. Download this brochure for more information, or check out the text (abridged for Realtors) of the brochure below:
How are the robo-signing scandals and lenders' self-imposed foreclosure moratoriums affecting Virginia real estate markets? Here are some stories to help get you up to speed: