Property, Rentals, Transactions

Property, Rentals, Transactions

Virginia residential real estate market continues growth trend Year-over-year growth contributes to Virginia economy

The Virginia residential real estate market continued year-over-year improvement according to the First Quarter 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Indicating sustained long-term growth, both the number of sales and the value of transactions rose from this period last year, totaling 20,771 units and $6.34 billion, respectively. The value of transactions for the first quarter of 2016 was 2.2 percent higher than the first quarter of last year, and nearly 15 percent higher than the first quarter of 2014.

FAAR Announces Endorsements of Candidates for Local Elections

The Fredericksburg Area Association of REALTORS® (FAAR) announces endorsements for local elected offices in the City of Fredericksburg for the May 3, 2016 general election. “As a City resident and an active REALTOR® downtown, I am personally very interested in this year's election," stated FAAR Public Policy Committee Chairman Suzy Stone.

The Boulder Group Arranges Sale of Net Lease ALDI Ground Lease

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant ALDI ground lease located at 5811 High Street in Portsmouth, VA for $3,280,000

Alexandria City Council to Hold Public Hearing on Ramsey Homes on March 12

At its regular meeting on February 23, 2016, the Alexandria City Council voted unanimously to rescind its vote on February 20 to approve a master plan amendment and deny a rezoning of the Ramsey Homes property at 699 N. Patrick St. The Alexandria Redevelopment and Housing Authority, which owns the property, proposed to replace the existing 15 public housing units in four two-story buildings with 53 public and affordable units in two three-story buildings

Virginia legislature passes consumer protection home inspection legislation

On Monday, the Virginia General Assembly overwhelmingly passed legislation creating a licensure system for professional home inspectors in the Commonwealth. Senate Bill 453, patroned by Sen. Bill Stanley, R-Moneta, passed the House of Delegates on a 100-0 vote

November Residential Real Estate Sales Indicate Continued Market Growth

November residential real estate sales support the year’s strengthening market. Year-to-date sales through November 30, 2015, account for more than $32.02 billion in sales volume, according to the November 2015 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Relative to the same year-to-date period for 2014, the value of sales transactions has increased by 11.7 percent. Both the number of units sold and the median sales price have risen steadily, contributing to the boost in year-over-year market performance

October Residential Real Estate Outperforms Last Year in Pace and Price October 2015 Virginia...

October residential real estate sales indicate sustained market improvement, with a rise of over five percent from the same time period last year. Higher volume coupled with a higher median sales price accounts for the bump in overall transactional value from $2.59 to $2.72 billion. According to the October 2015 Home Sales Report released by the Virginia Association of REALTORS® (VAR), sales each month this year have exceeded the sales for the corresponding months in 2014.

Virginia Association of REALTORS® Elects Bill White as 2016 President

William A. “Bill” White Jr., president and owner of Joyner Fine Properties, has been elected to serve as 2016 president of the Virginia Association of REALTORS® (VAR). He succeeds Deborah A Baisden as the top volunteer elected leader of VAR, which is the largest trade association in the state of Virginia with more than 31,000 members. White will assume his new VAR post in November 2015.

Virginia Association of REALTORS® promotes September Preparedness Month

The Virginia Association of REALTORS® (VAR) is encouraging Virginians to ready themselves for hurricane season as well as other disasters by making plans for how to stay safe and communicate during an emergency. Preparedness Month, observed nationwide in September, reminds Virginians to collect supplies as well as make and share a plan for the protection of their families, homes, and communities.

2015 Home Sales July: Virginia Residential Real Estate Market Shows Continuing Improvement

July residential real estate sales reflected a significant uptick from the same period last year, according to the July 2015 Home Sales Report released by the Virginia Association of REALTORS® (VAR). The 13 percent increase in sales over July 2014 continues an eight-year trend of year-over-year improvement. July sales are typically lower than the volume per month for June or any single month of the second quarter. In addition, the decrease of 8 percent from June indicates buoyancy from the 11 percent month-to-month dip averaged over the prior seven years for the same period.<

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Arlington County Board Approves Redevelopment of Former Bob Peck Site

Ballston project incorporates office buildings, affordable housing, ground-floor retail, townhouses ARLINGTON, Va.– The Arlington County Board today approved a mixed-use project for the last unplanned...

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Warner Presses Federal Agencies on Patch Management in Wake of WannaCry

U.S. Sen. Mark R. Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence and co-founder of the Senate Cybersecurity Caucus, wrote to Office of Management and Budget Director Mick Mulvaney and Secretary of Homeland Security John Kelly, asking what steps the federal government has taken to ensure that federal IT and contractor systems have installed critical security updates to defend against the WannaCry ransomware that has attacked and disabled hundreds of thousands of computers in 150 countries since Friday.