Here’s a perfect reason to reach out to your clients and potential clients: CNN Money named Richmond the fourth hottest housing market in the country.
Here’s a great new resource for brokers to create their own office policy manual.
It’s VAR’s new Office Policy and Procedures Manual template.
It’s a detailed Word document created by VAR’s Risk Management Committee and the Virginia Manager’s Council, and it’s been vetted by VAR’s legal team.
Sales picked up in February, but really took off in March, increasing 23.5% over February. Unemployment and mortgage interest rates remained stable, so the March sales increases are simply an expression of the season. Median sales price has been rising steadily since January, likely drawing more sellers into the market.
In addition to the seasonal increase in sales, you’ll notice from the graph below that we may be experiencing a decelerating market recovery. The success of 2013 may be explained by clearing of excess supply and pent up demand. Now in 2014, we are facing the reality of a very slowly growing economy. We can expect sales to follow their historic seasonal trajectory, but this year we may only see slightly more sales than we saw in 2012.
Governor Terry McAuliffe has appointed VAR legal consultant Jay DeBoer as director of the Department of Professional and Occupational Regulation (DPOR).
As an executive branch agency, DPOR oversees the Virginia Real Estate Board and 16 other regulatory boards, from architects and asbestos inspectors to barbers, boxers, and wastewater works operators.
This is not DeBoer’s first time at the helm of DPOR; he served as director from 2006 until 2010. Since then, while working at VAR, he’s helped thousands of Realtors across the commonwealth with a long list of real estate topics, and — thanks to that previous DPOR experience — he’s been VAR’s resident expert on anything related to the department.
Over the weekend, your Virginia Association of REALTORS® Policy and Advocacy team received confirmation that Governor McAuliffe signed the entire Virginia Association of REALTORS® Legislative Agenda into law. Though the specific provisions of the bills he signed will not come into effect until July 1, 2014, we are pleased that the Governor signed them, exactly as they passed the Virginia General Assembly.
There are some really cool and interesting gadgets you can buy — right now, for cheap* — that can automate all sorts of things in your home. They’re a big step up from thermostats with timers or coffee machines that brew just before you work up. (Although those are pretty nifty.)
And when I say “automate,” you might be surprised by what I mean.
DPOR is experiencing significant delays in processing applications for new and transferring real estate agents.
Monthly applications have been up almost 50 percent this year compared to last, and DPOR simply doesn’t have the staff to handle the increase.
The good news is that DPOR has been approved to pay for overtime — including having staff come in on Saturdays — to catch up on some of the backlog. It’s also received the go-ahead to hire three more staff, and expects to be able to add a fourth as well.
That will make a tremendous difference, but the agency still has had to cut back on phone and e-mail service to focus on processing applications.
As the first women to head Virginia’s largest trade association, VAR CEO Terrie Suit was named in Virginia Business magazine’s “On the move” section — part of its annual feature on the most influential people in the state.
The magazine listed Suit as one of the “People who are making their mark” along with others such as Tom Folliard (president and CEO of CarMax), Gracia Martore (president and CEO of Gannett Co.), John F. Reinhart (CEO and executive director of the Virginia Port Authority), and George Sherman (president of Advance Auto Parts).
The General Assembly has ended its session, and VAR had across-the-board success. Heidi explains what we accomplished this year.
With the General Assembly session winding down, our bills are doing great -- and Heidi has the latest update, including an interview with Delegate Tag Greason, sponsor of our first-time homebuyers savings plan bill.