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FAAR Announces Community Service Day!
FAAR Community Service Day
Saturday, May 19, 2018
9:00am-3:00pm
2 shifts, both include lunch!
“We make a living by what we get, but we make a life by what we give.” -Winston Churchill
Looking for a way to give back in the community? FAAR is partnering with FABA and the 516 Project on an ambitious community service project that aims to deploy 5 teams of Realtors®, affiliates, and builders in each of the jurisdictions that FAAR serves to make a lasting difference in a needy homeowner’s life.
The 516 Project will help screen applicants and coordinate logistics at build sites, they have that down to a science. We will provide the hard work and good cheer that we’re known for, all while giving a hand up to a neighbor in need. FAAR will provide lunch, water, and all instruction on the job site.
So gather your friends, neighbors, and colleagues! Teams are welcome and the day is split into shifts. Sign up for one shift or do the whole day, whatever works for you. All participants must be 16 years or older.
Thank you to our Sponsors!
FAAR hosts Legislative Reception with community partners
FAAR CEO Pat Breme chats with the crowd
FABA CEO Maria Moore talks with her members
Attendee Bob Danko
Chamber President Susan Spears
FAAR President-Elect Drew Fristoe
Event sponsor Sally Shea with the Title Professionals
Spotsylvania Supervisor Paul Trampe
Spotsylvania Supervisor Tim McLaughlin
King George Supervisor Ruby Brabo
Legislators spoke to a packed house
On March 8, 2018 FAAR partnered with the Fredericksburg Builders Association and the Fredericksburg Regional Chamber of Commerce to host a Legislative Reception. The reception featured brief remarks by City Councilman Tim Duffy, King George Supervsior Ruby Brabo, and Spotsylvania Supervisors Paul Trampe and Tim McLaughlin. This event presented an informal opportunity for members of all three associations to mix, mingle, and make connections.
FAAR to Host Candidate Interviews for City of Fredericksburg Elections
On Tuesday, April 3, 2018, the FAAR Public Policy Committee will interview candidates running for local office in the City of Fredericksburg. While the Committee members’ main goal is to get to know the candidate and whether they will be supportive of the real estate industry, the interview also serves as a great opportunity for the candidates to learn more about FAAR and the concerns of our members.
The interviews are open to the entire FAAR membership, but only those members who serve on the Public Policy Committee are permitted to ask questions of the candidates. The Committee will go into executive session after the interviews have concluded and decide who, if anyone, to endorse in each seat that had a candidate the group interviewed. This process is a great way to establish a relationship with new elected officials from the beginning and renew relationships with incumbents. The candidate interview schedule is published below, please RSVP to Kim McClellan if you would like to attend the interviews. Additional interviews may be added leading up to April 3.
10:30am: Tim Duffy (Ward 3, Incumbent)
11:00am: Dave McLaughlin (Ward 2)
11:15am: Billy Withers (Ward 2, Incumbent)
11:45am: Jason Graham (Ward 1)
Stafford Votes for Partial Repeal of Cluster Ordinance
On Tuesday, March 20, the Stafford County Board of Supervisors listened late into the evening from speakers on the cluster subdivision ordinance. There were 26 speakers who spoke in opposition to repeal while 8 speakers supported repeal of the cluster ordinance. Planning Director Jeff Harvey detailed the positives and negatives of cluster development in a presentation to the Board followed by a history of clustering in the County.
According to state law, the County must have a cluster ordinance that applies to at least 40% of unimproved land. The current ordinance was updated in 2012 and makes the option of clustering available on all land in the County. Since this expansion, developments have been built in Hartwood and other more rural areas. This rural development has concerned citizens and Board members as contributing to increased traffic congestion and stress on local schools, while not always preserving open space like the law intended. Supporters of cluster zoning, including many Realtors, spoke out against total repeal and urged the Supervisors to work with all stakeholders to amend the ordinance to address the County’s issues.
At the end of the meeting, the Board voted 6-1, with Jack Cavalier as the only dissenting vote, to repeal the cluster ordinance in rural areas but maintain it in the Urban Services Area and those areas immediately adjacent to the Urban Services Area. The Supervisors who voted in favor of the partial repeal felt it was a good compromise that kept Stafford County in compliance with state law but put a halt to new home approval in the most rural parts of the County.
Have an issue you want to FAAR to address? Send it in!
Each year, the Virginia Realtors® (VR) seeks input from local associations and individual agents to inform the creation of the statewide legislative agenda. FAAR in turn seeks input from our members so that we can send the strongest set of suggestions possible to VR. While not every issue that is submitted makes it into the package, every issue is discussed and debated by the Public Policy Committee.
Available Meeting Space at FAAR | Reserve or Rent a room
Available Meeting Space at FAAR
Rental Fees
Classroom*
Members
Events of 4 hours or less**: $75
Events of more than 4 hours: $125
Non-Members/Non-profit
Events of 4 hours or less: $100
Events of more than 4 hours: $150
Non-Members/For-Profit
Events of 4 hours or less: $150
Events of more than 4 hours: $250
Board of Directors Room/Small Conference Room***
Members & Non-profits: $50/hour
Non-Members: $100/hour
(no AV available)
Technology Fee
Affiliate Marketing Partner: Free
Members and Non-Profits: $25
Non Members: $50
Rental Guidelines— The policies set forth below apply to use of FAAR rental areas:
*Brokers may use the classroom for sales meetings free of charge once a quarter, pending availability.
** If a rental overlaps morning and afternoon, the renter will incur a “more than 4 hour” charge.
***Members may use the Boardroom or Small Conference Room free of charge once per year, pending availability.
- Prohibited:
- Recruitment or profit-making ventures.
- Classes that offer NAR Designations or Certifications, or CE/PL.
- Alcohol and banquet services that require catering setup, such as open flames, multiple outlets. Cold party platters/box lunches are acceptable.
- FAAR provides coffee and coffee cups.
- Paper products such as paper plates and napkins are to be furnished by the renting organization.
- Guests in the FAAR building are to observe common courtesy to the FAAR staff and reasonable care of the facility.
- Renter is responsible for cleaning up after the event is completed including depositing all trash in the proper receptacles and keeping the kitchen area clean.
- If using the classroom, the technology fee includes the use of wall-mounted TV in the classroom, laptop, and wireless Internet service. It is highly recommended to bring presentations on thumb drive.
- If using the classroom, it will be set up in the standard classroom style. If you require another configuration of table and chairs, please plan on arriving in advance of the event to set up.
NAR Urges Congress to Make Mortgage Debt Cancellation Relief Permanent
For the last ten years, underwater borrowers who either faced foreclosure or short sale were able to escape further financial burdens by cancelling their mortgage debt with the IRS. While the provision of mortgage debt cancellation was renewed many times over the last several years, it was a consistent part of a tax extenders bill that would pass early in the year and retroactively apply the provision. So far in 2018, the mortgage debt cancellation provision is expired and no tax extenders package has passed the U.S. Congress. This means that any homeowners who faced foreclosure or had to sell short sale their home in 2017 will now face a tax bill on the phantom income that the IRS will calculate based on the debt that the lender has forgiven. This causes significant issues for households who are already facing financial pressures and are unlikely to have the ability to pay.
While this issue has diminished significantly as equity has returned in recent years, many homeowners In the Fredericksburg market are still underwater. In 2017, there were 497 bank-mediated sales, representing 8% of the total units sold. The number of short sales and foreclosures decreased every month from the previous year, which is good news, but those nearly 500 families will be the first people responsible for paying taxes on their forgiven mortgage debt since 2007 if this provision is not extended again. NAR recently testified before the U.S. House of Representatives Ways and Means Committee that the mortgage debt cancellation provisions should become permanent in the tax code. Read the full article about NAR’s testimony below.
Realtors® Urge Permanent Mortgage Forgiveness Debt Exclusion
WASHINGTON (March 14, 2018) — The exclusion for forgiven home mortgage debt following a foreclosure, short sale or loan modification should be made permanent to provide relief to troubled borrowers and minimize the damage to families, neighborhoods and communities.
That’s according to testimony (link is external) today from the National Association of Realtors® before the U.S. House Ways and Means Subcommittee on Tax Policy at a hearing evaluating recently expired tax provisions.
NAR has long advocated for mortgage forgiveness tax relief, policy that was first established in 2007 at the onset of the housing and economic downturn and that has expired and been extended several times; most recently, early in 2018, it was retroactively extended to cover 2017. Without the exclusion, the debt that lenders forgive is considered taxable income and adds a tax burden at a time when an individual or family has experienced a true economic loss. NAR believes most of these people are already in financial distress and likely unable to pay additional taxes.
“The exclusion for mortgage debt cancellation delivers a huge dose of fairness. When the investment in a home goes well, and the owner sells at a gain, the tax code generously waives capital gains up to $500,000,” said Realtor® Barry Grooms, 2018 vice president of Florida Realtors®, who testified on NAR’s behalf. “But what happens when things go sour, equity is lost and the family is forced to sell short? Up through last year, the exclusion stepped in and relieved the often-impossible tax burden. If allowed to expire, we are left with a tax policy that rewards good fortune but piles on when the tables are turned. This is neither fair nor smart.”
While the home equity situation in America is much better today and the volume of short sales and foreclosures has receded from record highs, there are still about 2.5 million homes underwater, according to industry data. This is down considerably from the downturn, when as many as a quarter of mortgaged homes in the U.S. had negative equity. Nonetheless, there are still a significant number of individuals struggling to keep up with their mortgage payments, and the exclusion is vital for lessening the financial impacts of a foreclosure, short sale or loan restructure and saving distressed families from a dire hardship.
In his testimony, Grooms urged Congress to make mortgage cancellation relief a permanent provision since the exclusion has already expired, leaving the future of troubled borrowers in serious doubt.
“Cases of negative home equity will ebb and flow as well, even with a stronger economy,” said Grooms. “This is why we need a permanent exclusion to minimize the damage to families, neighborhoods and communities.”
Additional information on NAR’s mortgage debt cancellation tax relief efforts is available at www.nar.realtor/topics/mortgage-debt-cancellation-relief .
The National Association of Realtors® is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.
© National Association of REALTORS®
Rep. Vern Buchanan (R-Fla.), chairman of the U.S. House Ways and Means Subcommittee on Tax Policy, speaking with Realtor(R) Barry Grooms.
February Real Estate Market Remains Strong
February continued more of the same for the local real estate market with year-over-year increases in total sold dollar volume, median price, and units sold and a decrease in days on market. Total sold dollar volume saw a more than 10% increase from February of 2017 breaking the $100 million mark to settle at $103,879,026. Median sold price increased nearly 5%, going from $275,000 in February of 2017 to $287,750 in February of 2018. Meanwhile, units sold increased almost 9%, increasing from 321 last February to 348 this February.
Days on market, the time it takes from when a listing enters the market until it receives a ratified contract, fell nearly 6% with houses averaging 79 days on the market in February of 2018 compared to 84 days in February of 2017. Days on market has consistently fallen each month compared to the prior year since November of 2016.
Active listings posted a nearly 12% drop from February of 2017, with 1,176 active listings for February 2018 compared to 1,331 last year. New listings also saw a sizable year-over-year decrease with 629 new properties coming available in February 2018 compared to 681 in 2017, representing a more than 7% decrease.
The commercial real estate market is also posting positive numbers. FAAR Board Member and commercial agent Ben Keddie comments, “The commercial market has been very active of late. The progress of deals through the sales cycle is still relatively slow but activity and productivity is very high with all signs pointing towards 2018 being a very busy and productive year. “
Tell Stafford County to AMEND, not REPEAL the Cluster Subdivision Ordinance!
On Tuesday March 20, the Stafford County Board of Supervisors will hold a public hearing to solicit citizen feedback on the proposed repeal of the County’s cluster subdivision zoning ordinance. Cluster zoning is a development strategy that allows builders to group houses on smaller lot sizes in one area of a development while preserving the remaining land on the site for recreation, open green space, or protection of environmentally sensitive areas.
Repealing the ordinance without a ready replacement will create significant uncertainty for Realtors®, builders, and property owners who have followed the current law in good faith. Property owners and businesses who have invested significant resources in developing plans utilizing the current cluster zoning ordinance will be in limbo for an undetermined amount of time while the County drafts a replacement ordinance.
How Cluster Zoning Helps Stafford
- Reduced development footprint means less infrastructure to build and maintain
- Cost savings associated with more compact development allows for more affordable new home construction options
- Denser development makes it easier and less costly to expand modern amenities such as water and sewer and broadband infrastructure
- Preservation of green space and natural habitats helps preserve green space and Stafford’s rural character
Risks of Repealing Cluster Zoning
- The lack of a cluster ordinance will only contribute to Stafford’s increasing home costs by making lot preparation more expensive
- Increased costs to develop land could negatively impact property values, hurting Stafford residents and decreasing tax revenue for the County
- Exposes the County to significant liability as those who have followed the law in good faith will lose their investments of time and money if this state-mandated ordinance is repealed
The Board of Supervisors should work with the development community to address concerns with the ordinance and AMEND, not REPEAL the cluster zoning rules to ensure that this tool continues to be available to preserve open space and reduce the impact of development in Stafford County.
Want to send a letter to the Stafford Board of Supervisors urging them to amend the ordinance and not repeal it entirely? Use the form letter pasted below to weigh in.
I am writing as a member of The Fredericksburg Area Association of Realtors® (FAAR) to express my concerns about repealing the County’s current cluster ordinance. As a resident and active Realtor® in the community, I urge you to AMEND, not REPEAL the cluster ordinance by working with the development community and other stakeholders to address any issues with the ordinance the County has identified.
The goal of the ordinance is to help high-growth counties like Stafford preserve green space and reduce the footprint of development. If homes can be clustered, savings can be realized on water and sewer infrastructure, road construction, and lot preparation thus reducing the impact of development on the environment and reducing future maintenance costs of infrastructure. In addition, denser development helps with broadband service deployment. Repeal of the cluster ordinance will contribute to the ever-increasing cost of housing in the County while encouraging sprawl in our rural areas.
Repealing the ordinance without a ready replacement will also create significant uncertainty for Realtors®, builders, and property owners who have followed the current law in good faith. Property owners and businesses who have invested significant resources in developing plans utilizing the current cluster zoning ordinance will be in limbo for an undetermined amount of time while the County drafts a replacement ordinance. I urge the Board to reach out to all stakeholders to gauge the true impact of repeal before taking official action on this issue.
Thank you for your attention to this important issue. I urge you to AMEND and not REPEAL the cluster ordinance for the good of Stafford County.
Sincerely,
XXXXX
Supervisor Cindy Shelton
Aquia District
cindyshelton@staffordcountyva.gov
Supervisor Meg Bohmke
Falmouth District
mbohmke@staffordcountyva.gov
Supervisor Mark Dudenhefer
Garrisonville District
mdudenhefer@stafforcountyva.gov
Supervisor Tom Coen
George Washington District
tcoen@staffordcountyva.gov
Supervisor Jack Cavalier
Griffis-Widewater District
jcavalier@staffordcountyva.gov
Supervisor Gary Snellings
Hartwood District
gsnellings@staffordcountyva.gov
Supervisor Wendy Maurer
Rock Hill District
maurerw@staffordcountyva.gov
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