“THE MONITOR” SPRING 2016

 

GASTON, SUSAN COLOR 2255 (2)Virginia Peninsula Association of REALTORS®

Monthly Public Policy Report

 

“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” — Plato

 After a long but highly successful General Assembly Session, the Association’s Public Policy efforts have turned to local and regional issues PLUS local elections. Spring in Virginia, at least in even-numbered years, typically means City Council elections and a host of subject areas that require our attention. See below for details as to how VPAR is working for you to establish a strong local presence!

 ELECTIONS

 The VPAR Public Policy Committee (PPC) conducted candidate interviews in late March with nearly all of the candidates seeking election to the Newport News City Council and the Hampton City Council, as well as the two candidates seeking the office of Hampton Mayor.

After careful consideration, including a substantive and lengthy written questionnaire that focused on housing and business issues, and a detailed in-person interview with the PPC, the Committee recommended, and the VPAR Board of Directors has approved, the endorsement of the following City Council Candidates:

HAMPTON MAYOR

George Wallace

HAMPTON COUNCIL (three At-Large seats available)

Linda Curtis

Billy Hobbs

Chris Snead

HAMPTON COUNCIL SPECIAL ELECTION (to fill the unexpired term of Councilman Donnie Tuck who is running for Hampton Mayor)

Jimmy Gray

NEWPORT NEWS CITY COUNCIL

Rob Coleman (North District)

Dr. Patricia Woodbury (Central District)

Tina Vick (South District)

The Committee encourages Association members to consider these important endorsements when you go to vote on Tuesday, May 3rd! Look for reminders on the Association’s Facebook page, and be sure to visit the Association office where you can review and take with you information on each candidate.

VOTE THE REALTOR® PARTY on TUESDAY, MAY 3rd!

Read The Full Version with Local, State and Federal Issues Here! 

 

Your WorkSmart Sales Meeting Kit is here:

Enhance your next sales meeting — and make sure your agents are up-to-date — with this 10-minute meeting kit.

Fair Housing

Federal fair housing law consists of the Civil Rights Act of 1866 and Title VIII of the Civil Rights Act of 1968, otherwise known as the Fair Housing Act. As of 1988, the Act provides that no protected class can be discriminated against in the sale, rental, or financing of residential dwellings. Federal law also states that all U.S. citizens have the same rights to “inherit, purchase, sell, hold, and convey real and personal property.” The U.S. Supreme Court has interpreted the Fair Housing Act to cover private real estate transactions.

What’s included:

The kit comes complete with a presentation (including a short video and Q&A), a broker’s guide (only two pages), agent handout, and a printable poster for your bulletin board or fridge.

Check it out — you have to be logged in — and bookmark it today: www.VARealtor.com/worksmart/fair-housing.

First Quarter 2016 Homes Sales Report

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. Annualized residential sales, a rolling sum of the home sales closed in the preceding twelve months, rose for the sixth consecutive period, from 108,827 units in the last quarter to 109,185.

1st Quarter Home Sales

First quarter 2016 sales were 8.7 percent higher than the same benchmark in 2015, reflecting both a strong start to the first months of this year and the swell in last year’s summer volume. Aggregate median sales price for the first quarter was $249,000, the highest first quarter median price since 2008 and a 1.9 percent rise over the first quarter of 2015. First quarter home sales increased year-over-year in all nearly all price bands. Rising sales across broad price categories suggest higher consumer confidence as buyers enter the market at varied price points, supporting overall market improvement.

 

Read the full report here.