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VRLTA Update, Richmond Association of REALTORS®

Date: 
April 19, 2011 - 9:00am - 4:00pm
Location: 
Richmond Association of REALTORS® 8975 Three Chopt Rd Richmond, VA 23229 Phone: (804) 422-5000

VRLTA Update - Richmond Association of REALTORS®

Sponsored by the Virginia Property Managers Council 

Get the information you need on the updated Virgin

Governor's Legislative Agenda Includes Protection of Private Property Rights

Governor McDonnell, Lieutenant Governor Bolling, Attorney General Cuccinelli, and House and Senate Republican Leadership announce joint agenda for 2011 legislative session.

From Governor's press release:

Attorney General Ken Cuccinelli discussed individual property rights and their importance to the people of Virginia, stating, “There are legitimate reasons the government utilizes its power of eminent domain – for the construction of roads, schools, jails and utility easements,” Cuccinelli said. “However, we have to stand up for families and businesses to prevent government from using this extraordinary power when there is not a legitimate public need. A shopping mall or tourism information center is not a core public need.”

Rents on the rise, listing prices down

According to a report by property search site HotPads.com, rent prices nationwide rose 11.6 percent in 2010, from an average of $1,181 in January to $1,319 in December.

"With the U.S. unemployment rate over 9 percent throughout 2010 (up from 4 percent in 2006), low-risk housing options became more desirable, a trend that may continue in the coming months," the report said.

Realtor® Day on the Hill is February 9

On February 9 we need you to tell your legislator...

... to stop re-taxing people -- no more recordation taxes on refis!

... not to hold you responsible if public records are wrong!

... that toxic drywall needs to be disclosed!

...to pass agency laws that protect you and your clients!

It's our best chance all year to get our message across -- and we need bodies to do it. We want to crowd their offices with Realtors® so it's crystal clear: We care about property rights, the economy, and our industry.

Know some great real estate pros?

Know some outstanding real estate professionals? Now is the time to nominate them for the Virginia Real Estate Awards.Most nominations are due January 10.

Presented at the Get Active Legislative & Education Conference in February, the Virginia Real Estate Awards highlight excellence in a number of real estate categories, including

Cash-strapped governments ramping up tax-collection efforts

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.

Read more at the Washington Examiner.

Clarendon church apartment project could be national model

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.

Read more at the Washington Examiner.

Cheery outlook for Richmond commercial market

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. 

Property Managers Conference is Nov. 17-19

The Virginia Property Management Coalition Conference will be held Wednesday, Nov. 17 through Friday, Nov. 19 at the Omni Hotel in Charlottesville.

Real estate attorney Grimes Creasy will present “10 Steps to a Successful Eviction” plus new amendments to the VRLTA, recent Virginia Supreme Court decisions, and foreclosure issues. 

Other topics include:

DEVELOPING: DoD seeks spending cuts in VA

Virginia's economy stands to take a heavy blow if Secretary of Defense Robert Gates's proposal to cut the Pentagon's budget goes ahead as planned.  And there's little recourse for the Commonwealth's political leaders who are obviously concerned about the proposed cuts: Congress doesn't need to approve them.  Here's what's at stake in the Commonwealth.