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2017 Election Results
Virginia woke up to some surprising election results on Wednesday, November 8. No one predicted the ease with which Ralph Northam won the Governor’s seat and the near sweep of contested races won by challenging Democrats. The Democrats picked up at least 15 seats, maybe more, bringing the House of Delegates to a 51-49 Republican-Democrat split. There remain 4 other races that may be contested with a recount, one of them right here in the Fredericksburg region.
Republican Bob Thomas narrowly defeated Democrat Joshua Cole and stands with an 84 vote lead right now. This race is likely to head to a recount so an official winner won’t be certified for a while. The Realtor® organization will have lots of new faces to introduce themselves to over the next few months and FAAR will be hosting some events so members can get to know our new Delegate. We want to engage Delegate-elect Thomas on real estate issues in advance of the General Assembly session in January.
Bobby Orrock won reelection for his House of Delegates seat in the 54th District and Mark Cole won reelection in the 88th District. Delegates Orrock and Cole also received RPAC funds to support their races.
On the local front, every FAAR-endorsed candidate won their seat except one. FAAR applied for some extra help for candidates Kevin Marshall, Meg Bomke, and Sharon Foley, while providing RPAC support to Chris Yakabouski and Gary Skinner, and an endorsement of Cathy Binder.
- Kevin Marshall won his seat in the Berkeley District of Spotyslvania County with both RPAC funding and extra assistance with a mail piece from FAAR. We are excited to work with him and have a new face on the Board of Supervisors.
- Chris Yakabouski won his bid for reelection in the Battlefield District of Spotsylvania County with RPAC funding. We are looking forward to working with Chris on economic development and transportation issues.
- Gary Skinner won his bid for reelection in the Lee Hill District of Spotsylvania County with RPAC funding. Gary has been a long-time supporter of Realtor® -issues, working with us to expand VRE to the County in 2009.
- Cathy Binder won her seat in the Shiloh District of King George County with a FAAR endorsement. She is a new face on the Board and we are excited about building a relationship with her.
- Meg Bohmke won reelection in her seat in the Falmouth District of Stafford County with both RPAC funding and extra assistance with some digital media from FAAR. Meg has been a great supporter for her past four years and we are looking forward to continuing our good work.
- Sharon Foley ultimately did not win the Aquia District seat on the Stafford County Board of Supervisors but she ran a good campaign and we remain impressed with her concern for the County and eagerness to learn about issues. Cindy Shelton won the seat and we will work with her to provide any housing resources she may need.
In other local races, Gary Snellings won reelection in the Hartwood District and Mark Dudenhefer narrowly defeated Laura Sellers in the Garrisonville District for the Stafford County Board of Supervisors.
October Healthy for Local Real Estate Market
The weather and the real estate market remained warm in October with gains in total sold dollar volume and a large reduction in days on market compared to October of 2016. An increase in prices buoyed a slight reduction in units sold to keep the market hot well into the autumn. October of 2017 posted a more than 5% increase in sold dollar volume, coming in at $128,774,826. Median price was $285,000 for the month, a year-over-year increase of 7.5%. Units sold fell slightly with a .48% decrease, going from 421 in October of 2016 down to 419 in October of 2017.
Days on market, the amount of time it takes from when a listing enters the market until it has a ratified contract, decreased over 20%, going from 72 days in October of 2016 to 57 days in October of 2017. Inventory remains low, but there were nearly 17% more listings coming onto the market in October of 2017 than the same time last year. There were 715 new listings in October of 2017 compared to 613 in October of 2016. Active listings are down slightly with a 1.78% decrease, coming in at 1,652. A bright spot in October was the number of new listings coming onto to the market, which is badly needed at this time.
Of the 419 units sold in October, more than half were financed using either a conventional loan or a VA loan. Nearly 12% of sales were cash purchases, with another 22% FHA financing. “The market is experiencing a slowdown in homes priced over $300,000 in line with normal seasonal fluctuations heading into the winter months,” commented FAAR Board of Director Pam Kuper. “Homes priced under $300,000 are still flying off the shelves with our low levels of available inventory.”
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Once you’ve successfully logged in, you may update most of your data (such as email, address, directory display preferences, email subscriptions, etc) on file with us through the “Update Member Profile” button on the faarmembers.com/myaccount page. You will see this link in the blue box shown on the page.
If you are unable to change a piece of information in the portal (such as a change of last name), you will need to fill out a contact update form from the forms page.
Update on Tax Reform
NAR is OPPOSED to the tax reform legislation unveiled in the House last week. This bill is a direct threat to consumers, to homeowners and to our businesses. Not only will millions of homeowners not benefit from the proposal, many will get a tax increase. Additionally, homeowners could lose substantial equity from the more than 10% drop in home values likely to result if the bill is enacted.
What the Legislation Would Do:
Caps the mortgage interest deduction at $500K for new mortgages
Cap applies to new mortgage debt (but not refinancing) incurred after November 2, 2017.
Limit is not indexed to inflation causing its value to even further diminish over time.
Increases the standard deduction
Puts homeownership tax incentives beyond the reach of more than 90% of American families.
Limits the exemption on Capital Gains Tax from the sale of a primary residence
New rules would require homeowners to live in their home for 5 of 8 years before a sale to qualify for the exemption, versus just 2 of previous 5 years today. This will create a hardship to homeowners who have to move inside that five-year window.
Exemption phases out for single filers with incomes over $250K ($500K for joint returns).
Eliminates the deduction for state and local income or sales taxes.
Eliminates the Mortgage Interest Deduction for second homes.
Eliminates the deduction for moving expenses.
Eliminates the deduction on interest on student loans.
Eliminates the deduction for medical expenses, even for the elderly.
All this from a bill that is supposed to improve the current system. Not only is this legislation a clear and present danger to American homeownership, it will cost our children and grandchildren $1.5 trillion in new federal debt.
- Millions of middle class homeowners would see a tax hike under this plan.
- This plan attacks homeownership and sticks future generations with a $1.5 trillion price tag.
- America’s homeowners should not pay for corporate tax cuts.
- Hard-working homeowners will lose money when their home values fall, while corporations will get a huge tax break.
- Homeowners in all 50 states would be double-taxed on the money they pay for state/local taxes.
- If you buy a home and then have to move within 5 years, you could be hit with a big tax bill under this plan.
TAKE ACTION NOW
View the 2017 NAR Annual Conference from anywhere!
Did you know?
The REALTORS® Conference & Expo was ranked #10 on a list of the Most Innovative Meetings by Bizbash due to the Conference Live initiative. Much of that success comes from the hard work of Featured Attendees who provide their unique perspectives to create an amazing virtual event experience for real estate professionals.
What is Conference Live?
It’s an online window to the REALTORS® Conference & Expo and it takes viewers behind-the-scenes of real estate’s largest event happening this weekend in Chicago. Members at home can watch interviews with conference speakers and view exhibitor demonstrations. Plus, they can follow along with the experiences of over 35 Featured Attendees – REALTORS® and board staff from across the U.S. – who will share their personal experiences and reflections during the event.
Who are this year’s Featured Attendees?
| NAME | STATE | LOCAL BOARD |
| Emmary Simpson | Arizona | Tucson Association of REALTORS® |
| Heather Ozur | California | Palm Springs Regional Association of REALTORS® |
| Veronica Malolos | Florida | Central Florida Commercial Association of REALTORS® |
| Michael Bull | Georgia | Atlanta Commercial Board of REALTORS® |
| Tim Hur | Georgia | Atlanta REALTORS® Association |
| Chris Pelkola Lee | Idaho | Greater Idaho Falls Association of REALTORS® |
| Raphael Barta | Idaho | Selkirk Association of REALTORS® |
| Alex Ruggieri | Illinois | Champaign County Association of REALTORS® |
| Carrie Little | Illinois | Mainstreet Organization of REALTORS® |
| Christopher Tenggren | Illinois | REALTOR® Association of the Fox Valley |
| Marki Lemons Ryhal | Illinois | Chicago Association of REALTORS® |
| Matt DiFanis | Illinois | Champaign County Association of REALTORS® |
| Shay Hata | Illinois | Chicago Association of REALTORS® |
| Kyle Handsen | Iowa | Central Iowa Board of REALTORS® |
| Crystal Swearingen | Kansas | Lawrence Board of REALTORS® |
| Lola Audu | Michigan | Grand Rapids Association of REALTORS® |
| Michelle Walker | Missouri | St. Charles County Association of REALTORS® |
| Sean Moore | Missouri | Columbia Board of REALTORS® |
|
Jacy Riedmann |
Nebraska and Texas | Austin Board of REALTORS®, Kansas City Regional Association of REALTORS®, Omaha Area Board of REALTORS®, Lincoln Association of REALTORS® |
|
Amy Shocket |
Nevada |
Reno Sparks Association of REALTORS® |
| Tracy Freeman | New Jersey | North Central Jersey Association of REALTORS® |
| Leigh Brown | North Carolina | Charlotte Regional REALTOR® Association |
| Andrew Sims | Ohio | Dayton Area Board of REALTORS® |
| Axay Parekh | Oklahoma | Greater Tulsa Association of REALTORS® |
| Kerri Hartnett | Oregon | Portland Metropolitan Association of REALTORS® |
| Steve Strode | Oregon | Portland Metropolitan Association of REALTORS® |
| Erica Ramus | Pennsylvania | Schuylkill County Board of REALTORS® |
| Brian Copeland | Tennessee | Greater Nashville Association of REALTORS® |
| Monica Neubauer | Tennessee | Williams County Association of REALTORS® |
| Jennifer Archambeault | Texas | Austin Board of REALTORS® |
| John Rosshirt | Texas | Austin Board of REALTORS® |
| Sylvia Seabolt | Texas | Collin County Association of REALTORS® |
| Heather Elias | Virginia | Northern Virginia Association of REALTORS® |
| John Blom | Washington | Clark County Board of REALTORS® |
| Tom Hormel | Washington | Spokane Association of REALTORS® |
| Lori Muller | Wisconsin | REALTORS® Association of Northeast Wisconsin |
Visit Conference Live, online now at www.ConferenceLive.realtor. The site will be active primarily November 3-6, 2017, and is a free resource for real estate professionals, regardless of ability to attend the event. You can even enter to win a free trip to the 2018 REALTORS® Conference & Expo in Boston. After the event, the site will remain up as a resource for real estate professionals through 2018.
Realtors® Mobilize to Protect Tax Benefits of Homeownership
The Fredericksburg Area Association of REALTORS® (FAAR) joins fellow Realtors® and affiliates from across the country in advocating for the protection of homeownership-related tax provisions during the current tax reform debate. Proposals being discussed on Capitol Hill would dilute the Mortgage Interest Deduction and the deduction of state and local property taxes.
The loss of these tax benefits could lead to a real estate market adjustment where homeowners could see a loss of 10% or more in their property values. In addition, taxes would be raised on middle class homeowners at a time when homeowners pay more than 83% of all taxes collected. Pending tax reform plans threaten to wipe out the tax benefits of owning a home for 95% of American families.
Under the current tax law, homeowners are allowed a deduction for mortgage interest paid. The deduction is generally allowed for interest paid on mortgage debt of up to $1 million, and is available for interest on mortgages for a principal residence and one additional residence. The $1 million limitation represents the combined allowable debt on two residences. Mortgage interest on up to $100,000 of debt on home equity loans or lines of credit also qualifies for the deduction.
The United States has a long history of encouraging homeownership in the tax code and any reform must first do no harm to homeowners. Realtors® are supportive of comprehensive tax reform that simplifies the tax code, but not at the expense of middle class families.
The National Association of Realtors®, representing over 1 million Realtors® nationwide, is working closely with the Trump Administration and the U.S. Congress to advocate for comprehensive tax reform that preserves the benefits of homeownership.
Don’t forget to vote on November 7!
Election Day is less than a week away and it features some pretty contentious races such as for Governor and Attorney General. Polls will be open on Tuesday, November 7 from 6:00am to 7:00pm and anyone in line by 7:00pm will be allowed to vote. Not sure where you vote? Click here to find your polling place and also what races will be on your ballot.
FAAR understands that many factors go into your decision about who to vote for and why, but if your business is one of those factors, please consider supporting FAAR-endorsed candidates. Members of the FAAR Public Policy Committee take an entire day to interview nearly every candidate running for office and then decide to endorse only those candidates who they believe will support the real estate industry and have an open door policy for our concerns. FAAR has endorsed the following candidates in races throughout the Fredericksburg region:
General Assembly
Bob Thomas (R-House-28)
Bobby Orrock (R-House-54)
Mark Cole (R-House-88)
Spotsylvania County Board of Supervisors
Kevin Marshall (Berkeley)
Gary Skinner (Lee Hill)
Chris Yakabouski (Battlefield)
Stafford County Board of Supervisors
Meg Bohmke (Falmouth)
Sharon Foley (Aquia)
King George County Board of Supervisors
Cathy Binder (Shiloh)
Sign up to be a Candlelight Tour House Guide this December!
Don’t miss this opportunity to be the tour guide for one of Fredericksburg’s finest historic homes on this once a year tour presented by the Historic Fredericksburg Foundation. Inc. (HFFI). Tour hours are Saturday and Sunday, December 9th and 10th, from 11 am to 5pm and Saturday evening from 6 – 8 pm. The house guides receive hosting scripts containing all the information available. This will include information about the decorations and the house history/ architecture. This information is just as important as the items contained in the home and is necessary to not only meet the expectations of our guests, but also to make sure our decorators get all the credit and attention they deserve. Finding willing decorators can be a challenge some years and we have found that “making it worth it” needs to be done through a variety of methods. Promotion of them through our website and Facebook is one way, but ensuring that visitors hear about aspects of the decor, as well as hear the decorator’s name, is important.
We are hosting the Candlelight Tour at 1200 Washington Avenue, Fredericksburg, VA 22401.
Thursday, December 7th from 10:00 am-11:00 am we will have our Preview and Run Down meeting for the house we are presenting.
You will also have a chance to get discounted tickets for the Candlelight Tour at this time
Sign up to host a tour at http://www.signupgenius.com/go/9040c45aaae2ea31-2017
Record-breaking year for Cereal Drive—Over 18,000 boxes collected!
WINNERS
Affiliate Office
Alcova Mortgage, 576 boxes
Most Cereal Per Agent
Century 21 Battlefield King George, 2203 boxes
Runner up, Most Improved
Century 21 Redwood Stafford, from 87 to 700 boxes
Most Improved
United Real Estate Premier, from 0 to 2808 boxes
Runner up, Most Cereal Collected
Century 21 New Millennium Fredericksburg, 2923 boxes
Grand Prize, Most Cereal Collected
1st Choice Better Homes and Land 5019 boxes
PARTICIPANTS
Berkshire Hathaway Home Services Select
Century 21 Redwood – Locust Grove
Nest Realty Group – Fredericksburg
1st Choice Better Homes and Land
CTI Real Estate
Alcova Mortgage
United Real Estate Premier
Century 21 Redwood – Fredericksburg
Long and Foster Fredericksburg
Century 21 Battlefield
Century 21 New Millennium Fredericksburg
Coldwell Banker Elite Downtown
REMAX Legacy
FAAR
Ulta Realty
Century 21 Redwood – Stafford
Coldwell Banker Elite – Stafford
Virginia CU Realty
Embrace Home Loans
Keller Williams Realty – Stafford
Keller Williams Realty – Fredericksburg
Holt for Homes
Movement Mortgage
#MemberMonday | Meet Alex Long
Alex Long
Hometown
Fredericksburg
Current Location
Port Royal (downtown)
Title
Associate Broker with Weichert REALTORS® of Fredericksburg; CCIM, ALC, AICP
Number of Years in the Industry
39 to 40
Why do you love working in real estate?
Same reason Genghis Khan gave for his travels: seeing interesting places and meeting new people.
What are you most proud of in your career?
Helped a number of people and helped create a number of developments and also conserve land thru conservation easements.
Do you have a special cause or volunteer your time?
I serve on the Town of Port Royal Town Council and Planning Commission; giving blood is easier and less painful. Also served on the FAAR Professional Standards Committee for a number of years, and many years ago, Grievance Committee.
Fun Fact
My library is spread in piles over the house because the bookshelves are full; perhaps 2,000+ books. Was graduated from the ‘Couch Potato to 5k” school in September, 2014 and generally average over two races a month and training. Still a lousy runner with little skill and lesser ability; but is all about trying. There is a lot of courage in the back of the pack. Finished this year’s Marine Corps Marathon at 11,203 out of 20,150 finishers; 162 out of 401 in my 60-64 age group.
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