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.
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:
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.
On Monday, the directors of the Virginia Department of Housing and Community Development are expected to pass revisions to the Virginia Uniform Statewide Building Code that would include a requirement that all new residential construction in the Commonwealth include a fire extinguisher in or near the kitchen. This provision is likely to be adopted instead of a proposal that would have required sprinklers in all new townhouse construction. According to an article in Leesburg Today, the current code requires that sprinklers be installed in all new townhouses with more than three stories. New single family homes have no sprinkler requirements, according to the article.
Town officials in Herndon are preparing residents and business owners for the new Herndon-Monroe Metro station, which is slated to open in 2016. Plans are afoot to make the area surrounding the coming station more appealing to passengers. Officials would like to see the area transformed into an attractive, walkable urban community.
Homeowners should take advantage of opportunities to be heard during this planning process. If well executed, careful development could make the area surrounding the Metro station pleasant and inviting. Prices of nearby homes could be positively affected.
Read more in The Washington Post....
For the vast majority of Realtors®, satisfying the Virginia Real Estate Board's (VREB) continuing education (CE) requirements is something you do to improve yourself and your professionalism. To stay current on what's happening in the industry, you seek out high-quality education like (shameless plug) the REal Show, courses from your local association, or from other approved real estate schools.
Gov. McDonnell has embarked on a mission to create the Commonwealth's first statewide housing policy. The policy is expected to guide the Commonwealth's approach to issues such as homelessness, affordable housing, workforce housing, economic development, healthy neighborhoods, effective coordination with transportation, environmental issues and other housing related opportunities.
Time is running out to provide comments or ideas to Gov. McDonnell's Housing Policy Advisory Committee. On July 9, the suggestion box will be closed. If you'd like to provide input to the Advisory Committee, act now.