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Virginia’s housing markets continue to show marked improvement, as fourth quarter 2009 home sales in Virginia showed an 18 percent increase over the same period last year, according to the year-end and fourth quarter 2009 home sales report released today by the Virginia Association of Realtors.
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NAR’s Chief Economist, Lawrence Yun, says that today’s homes are more affordable than at any time in the past 40 years. But as the economy improves, expect housing prices to rise again, making homeownership less affordable. VAR and Housing Virginia
recognize the need to keep housing within reach for those want to
pursue (and understand the responsibility of) the American dream of
homeownership.
To help housing advocates and state officials understand trends in
housing affordability, VAR, local Multiple Listing Services (MLSs) in
Virginia, and Housing Virginia are partnering to create a quarterly
Housing Affordability Index. The initiative was announced on November
18 at the Governor’s Housing Conference.
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Officials at the State Corporation Commission, after several meetings with VAR staff, have agreed that Realtors who install metal frame signs by hand on a property do not need to call Miss Utility first. Considering the number of Realtors in the Commonwealth who use metal frame signs, this is a significant event.
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Yesterday’s election left its mark on the landscape
of Virginia's Capitol Square. With local association endorsements and
VAR member votes, RPAC of Virginia-endorsed candidates Governor-elect
Bob McDonnell and Lt. Governor Bill Bolling were both victorious last
night. And 77 of the 88 RPAC-endorsed House of Delegates candidates
will take their seats in the 2010 General Assembly.
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Virginia’s housing markets appear to be moving upward, with the lowest point seen in fourth quarter 2008 and steadily improving since then, according to the third quarter 2009 home sales report released today by the Virginia Association of Realtors. “There seems to be no doubt now that we have hit the bottom and are moving back up, in terms of both price and sales activity,” commented VAR President John Powell of Colonial Heights. “We are now in our third consecutive quarter of marked improvement.”
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