News

The first quarter 2013 Virginia Home Sales Report has been released and year-over-year state wide indicators show that the housing market in Virginia continues to experience steady improvement.

Interesting story in the Financial Times about how immigrants to the U.S. have not only been key to the housing recovery, they will remain key to the market. It’s based in part on a report from Housing America and the Mortgage Bankers Association.

Some key points:

It’s not small, it’s “cozy.” It’s not in the middle of nowhere; it’s “private.” It’s not poorly insulated and falling apart; it’s “rustic.” And now, as Cindy Jones over at Virginia Real Estate Talk points out, for some developers you apparently don’t have a master bedroom — you have an “owner’s suite.” No word on what that means for rentals. Hopefully your landlord doesn’t snore.

Kudos to the Bristol Tennessee-Virginia Association of Realtors for hosting a debate forum for for City Council candidates — something the association has been doing for many years. 

Whatever your political views, it’s good for Realtors to be involved in local politics; it helps cement the idea that we are business and community leaders.

Hosting debates, running forums (fora, for you Latin speakers), and being involved in as many community activities as possible — keep up the good work.

Real estate investors have helped the market recover. But for the long-term health of the market, maybe they should stop now.

(To be clear: By “investors” I mean people and companies that buy single-family homes to turn them into rentals, not house-flippers.)

Here’s what’s worth watching: When all those foreclosures went on the market at deep discounts, investors began snapping them up. That was a good thing, because there was so much inventory out there that prices were staying low.

Once most of that distressed inventory was gone, though, conventional wisdom said that investors would ease off. Prices would go up and the great deals would be gone.

Fredericksburg Realtor Penny Traber (of 1st Choice Better Homes & Land) was named Citizen of the Year by the Fredericksburg Free-Lance Star, and is in the running to be named Virginian of the Year, an award given by the Virginia Press Association.

Sayeth the paper:

Each year, EarthCraft Virginia presents awards in a variety of categories to builders, developers, and others throughout the region who demonstrate superior dedication to the advancement of sustainable housing.  The Single Family Project of the Year went to an efficient solar home in Alexandria, VA.  Patrick Fogarty, broker and co-owner of HomeFirst Realty was this year’s winner for building a new home with incredible energy saving qualities for about the same price as a typical new home.

Real estate agents have the happiest job in America, according to a new survey from CareerBliss. They — that is, you — beat out some sexy, sexy other careers such as “senior QA engineer,” “senior sales representative,” and “construction superintendent.”

The survey looked at more than 65,000 career reviews in which workers rated “several factors that contribute to job happiness, such as company culture, compensation and the work they do,” says the site.

And CareerBliss co-founder and CEO Heidi Golledge explains why:

Here’s an interesting stat: Since mid-2005, Americans are driving less — much less, especially younger folks. You know, the next generation of home buyers?

What’s notable is that — unlike the last time there was a drop in driving, back in the 1980-84 recession — this time the drop appears to be much longer lasting. It’s been 92 months already.

According to the Frontier Group, which did the study, the trend is most noticeable among young people.