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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.<

Hunt Mortgage Group, a commercial real estate lender, announced today that it has provided an $11.7 million Fannie Mae loan facility to refinance a multifamily property located in Sterling, Virginia. The loan term is 10-years, with seven-years of interest only, amortizing over 30-years. The new facility replaces an existing Hunt Mortgage Group Fannie Mae loan with a Fannie Mae Choice Refinance Structured ARM

The Virginia Association of REALTORS® (VAR) kicks off its first year-long sponsorship of Homes for Our Troops (HFOT) with a $10,000 contribution towards the total $61,175 raised in support of the nonprofit that operates nationally to build mortgage-free homes for severely injured post-9/11 Veterans, enabling them to rebuild their lives.

The Virginia residential real estate market experienced its strongest second quarter since the 2008 recession, with sales volume reaching nearly $10.6 billion during the April through June timeframe. This sales volume represents an 11 percent increase relative to the second quarter of 2014 ($9.5 billion), according to the Second Quarter 2015 Home Sales Report released by Virginia Association of REALTORS® (VAR).

Congressman Robert Hurt (R-Virginia) recently introduced the Supporting Home Owners Rights Enforcement (SHORE) Act, H.R. 2929, along with Congressman G.K. Butterfield (D-North Carolina), Congressman Bob Goodlatte (R-Virginia), Congressman Morgan Griffith (R-Virginia), and Congressman Markwayne Mullin (R-Oklahoma). This legislation would amend the Federal Power Act to ensure that the Federal Energy Regulatory Commission (FERC) considers private property ownership rights when issuing a license or enforcement action over hydro-power projects at Smith Mountain Lake and other similar areas throughout the country.

Julie comes to FAAR with previous real estate experience as a licensed agent selling new homes and a REALTOR® with 1st Choice Better Homes and Land. In addition, she has significant marketing experience from her positions with local nursing homes.

U.S. Senator Tim Kaine joined a group of senators in sending a letter to federal housing, finance, and consumer protection regulators calling for an investigation into potential violations of the Fair Housing Act by banks and lenders neglecting the maintenance of foreclosed homes based on the racial makeup of communities where the properties are located.

U.S. Sens. Mark R. Warner (D-VA) and Roy Blunt (R-MO) introduced legislation to reduce the number of underutilized federal properties, a move that could save taxpayers $9 billion over the next 10 years. Sens. Lindsey Graham (R-SC), Mark Kirk (R-IL), Rob Portman (R-OH), Roger Wicker (R-MS) and Thom Tillis (R-NC) are also original cosponsors of the Civilian Property Realignment Act (CPRA).

American Realty Advisors, an institutional real estate investment manager with nearly $7 billion in assets under management, has acquired a 100 percent-leased Class A industrial portfolio totaling 453,883 square feet in Virginia

The Virginia Association of REALTORS® (VAR) released its April 2015 Home Sales Report, which confirmed that the spring selling season is well underway. Home sales increased by 5.72 percent from March to April and will likely continue to increase through June, based on historic seasonal trends