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High Prices, Continued Low Supply Close Out the 2021 Housing Market

 

While many Realtors® have experienced moderating of the real estate market in recent months, 2021 as a whole was a more frenetic market than its record-setting predecessor of 2020.  “2021 saw the trend continue of extremely low inventory coupled with very strong buyer demand, leading to a chaotic and often disappointing market for many local homebuyers,” states 2022 FAAR President Deb Ellis.  The first half of the year was marked by intense bidding wars with home inspections falling by the wayside, buyers bringing serious cash to the table when homes didn’t appraise, and multiple offers as the norm.  These dynamics all conspired to make 2021 another record-breaking year in the real estate market. 

The year closed out with a total sold dollar volume of nearly $4 billion which represents a more than 26% increase over the year-end totals for already red-hot 2020.  The market saw a nearly 13% year-over-year increase in median price, going from $339,520 in 2020 to $382.000 in 2021.  Units sold increased over 11%, finishing out the year at 9,266 units compared to 8,310 units sold in 2020.  Stafford County led the pack with a 2021 median price of $445,000, a staggering $135,000 increase from just five years ago. Rural localities also saw significant increases with Orange County seeing a nearly 40% increase in units sold in 2021, with 990 sales.  That represents a more than 45% increase from just 2 years ago when Orange closed out the year with 677 closed sales. 

Days on market, the time it takes from when a listing enters the market until it receives a ratified contract and is removed from active status on the multiple listing service, fell a whopping 48% with houses averaging a mere 15 days on the market in 2021 compared to 29 days in 2020.  More than 68% of homes sold in just 10 days or less.  The vast majority of sales were of 3 or more-bedroom single family homes, with that segment making up nearly 82% of the total units sold. 

“The super-charged real estate market of 2021 resulted in many disappointed buyers as there were not enough homes to go around.,” continues Ellis. “Many buyers temporarily exited the market to wait for calmer times.  However, we saw some moderation in the market in late 2021 and while the market remains very competitive, we did see a slowdown more in line with seasonal trends.”

December saw sold dollar volume and median price increase, but units sold was flat with 6 less houses selling in December of 2020 versus December of 2021.  The month closed out with over $294 million in total sold volume, representing a 13% increase from last year.  Median price climbed to $385,500, an 11% increase from the $347.222 price point of December 2020.  Units sold clocked in at 689 compared to 695 sold in 2020.  However, December is a historically weaker home sales month and December of 2020 was up over 44% from 2019, so 2021 held strong compared to historical averages. 

While December of 2021 ended the year with 13% more listings than 2020, it wasn’t enough to change the narrative of consistent constrained supply.  December of 2020 saw the lowest level of listings for any December in recent years with just 511 homes to choose from.  In December of 2019, a time when some would say the market was already having supply issues, there were over 1,200 homes for sale.  December of 2021 closed with 579 homes available for purchase.  Pending sales also continued to be strong with a 7% increase over last year. 

Ellis points out that the highly competitive home sales market also drives up prices in the rental market as sellers cash in for big bucks and then elect to rent until they find their next place.  Many renters are also staying put waiting for the market to settle down before buying a home, which leads to greater competition in rental rates.  As a result, prices increase which squeezes out renters seeking more moderately-priced options.  With rumored Federal Reserve rate hikes and the hope for a functional end to the pandemic, 2022 remains a very cloudy crystal ball.  “Now more than ever, it is vital to work with a Realtor® who is an expert in our local market and can serve as a beacon of calm while navigating this turbulent market,” adds Ellis. 

Local Home Prices Up Big in November

While some normalcy continues to return to the market, prices increased significantly in November with the area housing market flirting with a $400,000 median price.  Total sold dollar volume increased by 22% fueled by a more than 16% rise in median sold price and a nearly 8% increase in units sold over last November’s equally hot market.  Total sold dollar volume settled at approximately $305.6 million this November compared to $249.7 million in November of 2020.  Median sold price came in at a near-record high $395,500, a more than 16% year-over-year increase from 2020.  In November of 2021, 715 homes were transacted versus 664 in November of last year, representing an 8% increase.

“Things are slowing down, but not in the traditional sense,” states FAAR Board of Director Kardin Lillis.  “We are still seeing a very fast-paced market, especially for accurately priced, well-maintained homes, but the days of large escalation clauses and dozens of offers seem to have passed.” 

Days on market, the time it takes from when a listing enters the market until it receives a ratified contract and is removed from active status on the multiple listing service, actually increased for first time since September of 2019.  Average days on market rose from 16 days in November of 2020 to 20 days on market this year, representing a 25% year-over-year increase. 

Overall active listings were up 23% this November compared to last year, with 704 homes available in the entire FAAR footprint at the end of November versus just 572 last year.  New listings were up nearly 4%, with 668 homes coming on the market this November compared to 643 last November.  New pending sales held steady with a slight 1% decrease, showing that buyer demand remains strong as we return to more normal market conditions.

FAAR installs 2022 Leadership Team and presents 2021 Awards

FAAR installs 2022 Leadership Team and presents 2021 Awards

 

The Fredericksburg Area Association of REALTORS® (FAAR) installed its 2022 Leadership Team in a ceremony at Stevenson Ridge on Thursday, December 9, 2021. Despite the year’s many challenges, the Association under 2021 President Carrie Danko remained committed to serving the more than 1,800 Realtors® working throughout the region with top-notch educational offerings, wide ranging real estate services, and strong advocacy to protect the real estate industry.

Looking ahead to 2022, incoming President Deb Ellis of Coldwell Banker Elite plans to continue the trend of strong leadership at the Association. “We are very proud to celebrate the award recipients and FAAR leadership at this annual event. We have a team in place that is excited to get to work for the members of the association and people in our community,” stated Ellis.

Incoming President Deb Ellis and her leadership team were installed by Kevin Breen, broker of Coldwell Banker Elite.

Several awards were also given out, including:

Realtor® Emeritus
Recognizing members who have attained 40 years of continuous membership in FAAR and have served at the National Association of REALTORS.

Melanie Thompson
Century 21 Redwood Realty

Silver Circle Awards
Recognizing members who have attained 25 years of continuous membership in FAAR.

Sheila Johnson, IONE Realty
Connie Mulgrew, Century 21 Redwood Realty
Crystal Norbeck, Valere Real Estate
Andre “Rick” Perry, eXp Realty
Sharon Shade, RE/MAX Allegiance
Maureen Villalva, Coldwell Banker Elite

Affiliate of the Year
Recognizing the FAAR affiliate member that provides exceptional service to FAAR, its members,
and the general public.

Mike Lee
Summit Mortgage

Good Neighbor Award
Recognizing members who give back to the community.

Maribel Barker
Fawn Lake Real Estate

Spirit Award
Recognizing the participation of a member who supports FAAR behind the scenes.

Anne Overington
Century 21 Redwood Realty

Raising the Bar Award
Recognizes the member who has gone above and beyond to improve their knowledge of the business and professional standards.

Sha Williams-Hinnant
1st Choice Better Homes and Land

Hall of Fame Award
Recognizes a member with extensive leadership history and service at FAAR

Sherry Bailey
Century 21 New Millennium

Icon Award
Recognizes members who have made a significant mark on the real estate profession

Nick Calamos
Coldwell Banker Elite

The 2022 FAAR Leadership team is

President Deb Ellis, Coldwell Banker Elite
President-Elect Carol Sondrini, Coldwell Banker Elite
Vice President Randy Walther, Nest Realty
Secretary Dawn Josemans, Coldwell Banker Elite
Treasurer Lauren Tate, Century 21 Redwood
Immediate Past President Carrie Danko, Pathway Realty

Directors
Pia Contreras-Sanchez, Prime Realty
Abby Fitzsimmons, Coldwell Banker Elite
Gary Gardiner, Jr., Coldwell Banker Elite
Kardin Lillis, Weichert, REALTORS®
Clay Murray, Pathway Realty
Matthew Rathbun, Coldwell Banker Elite
Affiliate Director
Michele Freemyers, Ekko Title

 

 

 

#MemberMonday Meet REALTOR® Adarsh Parbadia

The Fredericksburg Area Association of REALTORS® Member Spotlight feature allows members of the community to get to know each other before working with each other in a transaction. Each member answers a series of questions to reveal more about themselves as people.  It is FAAR’s hope that learning about an individual may spark connections that blossom via email, phone conversations or in-person meetings at events and classes.

Name
Adarsh Parbadia

Hometown
Stafford

Current Location
Fredericksburg

Title
Realtor®, Christmarr Properties

Number of Years in the Industry
2

Why do you love working in real estate?
My family has been in real estate my entire life. My father and uncle run a construction company so I have had a chance to see the entire real estate process from development, building, to closing. To me it is incredible to see how many moving parts there are and all the individuals involved. We all make a living just on a portion of the timeline. From builder, to contractors, to lenders, to settlement companies, and so many more. But what I love the most (from being on the residential side) is you get to be a part of the purchasing journey for your clients. They have worked years to get to this point and you get the chance to make it happen for them.

Favorite Work Story
My favorite story happened this year. I joined the Young Professionals Network this year and got to meet some incredible people from REALTORS® to the team at the Association. Myself being the listing agent I got to work with the current chair of YPN who represented the buyers. It was the first time I worked across the table with an agent I knew. Needless to say, the transaction went very smoothly and both parties are very happy.

What are you most proud of in your career?
It was probably my first transaction which was a rental property. It was also my first listing and was in North Stafford. I probably called my broker every day to make sure I was doing and saying the right thing. But that transaction gave me the confidence on the next ones. And that even if you jumping into a new industry, product type, or area there is always a way to figure it out.

Fun Fact
Went to my first Washington Nationals game earlier this year.

adarsh parbadia realtor
#MemberMonday Meet Broker Evelyn Martin

#MemberMonday Meet Broker Evelyn Martin

The Fredericksburg Area Association of REALTORS® Member Spotlight feature allows members of the community to get to know each other before working with each other in a transaction. Each member answers a series of questions to reveal more about themselves as people.  It is FAAR’s hope that learning about an individual may spark connections that blossom via email, phone conversations or in-person meetings at events and classes.

Name
Evelyn Martin

Hometown
Bronx, NY

Current Location
Stafford

Title
Principal Broker at The Martin Team Property Management LLC

Number of Years in the Industry
12

Why do you love working in real estate?
I believe home ownership is one of the best way to start acquiring generation wealth. it’s the best building block in getting ahead.

What are you most proud of in your career?
Proud of being a source of information to buyers and sellers and agents.

Do you have a special cause or volunteer your time?
Grievance and Diversity Committee

Fun Fact
I recently completed David Goggin’s 4x4x48. I ran 4 miles every 4 hours for 48 hours!

PJ moore donofrio inspections
Virginia REALTORS announces 2022 Committee Appointments

Virginia REALTORS announces 2022 Committee Appointments

Drew Fristoe
Economic Advisory Board and Strategic Planning Workgroup

Dawn Josemans
Property Managers Council

Judith Laxague
Professional Development Committee

Jenny Lloyd
Economic Advisory Board

Evelyn Martin
Property Managers Council

Stephanie Michael
Property Managers Council

Tamar Myers-Moffatt
Economic Advisory Board

Donald Pett
Property Managers Council

Carol Sondrini
Virginia Leadership Academy Alumni Council

Sha Williams-Hinnant
Professional Development Committee

FAAR hosts annual cereal drive

FAAR hosts annual cereal drive

FAAR members were definitely up for the challenge and then some!!!  Thank you to everyone who participated and helped us not only reach our goal, but blow it out of the water!!!  FAAR members collected a nearly unbelievable 31,032 boxes of cereal!  Check out the official press release below for all the details. 

The Fredericksburg Area Association of REALTORS® (FAAR) hosted its annual Cereal Drive to benefit the Fredericksburg Regional Food Bank and other food pantries throughout the area.  This year proved to be another record-breaker with FAAR members collecting a whopping 31,032 boxes of cereal, blowing previous cereal drive totals out of the water.

Realtors® from across the region collect cereal from their clients, family, and friends and a friendly competition inspires each office to beat their prior year totals. FAAR would like to recognize the amazing efforts of this year’s Cereal Drive participants.

  • Most Cereal Collected: 1st Choice Better Homes and Land (10,872 boxes)
  • Most Cereal Per Agent: Cropper Home Sales (1,115 boxes)
  • Most Improved: Century 21 Redwood (from 28 to 971 boxes)
  • Affiliate Office: Universal Title-Fredericksburg (1,364 boxes)

Distributed across multiple food banks in the region, the cereal from this annual cereal drive is making a difference in the lives of families struggling with hunger in our community. Assuming each box can provide at least 10 meals, that’s over 310,000 meals in our region. Cereal was also delivered to food pantries in Westmoreland County and Louisa County.

 

Thank you to all of these participants for their involvement and collection efforts!

 

Century 21 Redwood Locust Grove
1st Choice Better Homes and Land
Avery Hess
Coldwell Banker Elite King George
Century 21 New Millennium Fredericksburg
Century 21 Redwood Fredericksburg
Coldwell Banker Elite Bragg Road
Coldwell Banker Elite Downtown
Cropper Home Sales
CTI Real Estate
Exit Elite
Keller Williams Capital Properties
Long and Foster Fredericksburg
MacDoc
Remax-Gillies team
The Title Professionals
Topside Federal Credit Union
Ulta Realty
United Real Estate Premier
Universal Title

 

 

Listen to how your efforts continue to make a difference!

 

 

FAAR Louder Podcast Episode 26 – Leadership outlook with President Carrie and CEO Page

Transcript

Carrie Danko 0:00
Hello, I’m Carrie Danko, the 2021 FAAR President and I am here today to welcome and introduce Page Browning our new now not so new far CEO. So she’s here with us today. And we’re just going to take some time to kind of reflect on the last year of me being president, and then kind of what she sees moving forward and just kind of have a little discussion today. So welcome, Page, thank you so much for joining me. So let’s just get right to it. Sound good?

Page Browning 0:32
Sounds great. I’m ready.

Carrie Danko 0:34
Hey, can you give us a little bit of your background? How long have you worked in association management and with realtors?

Page Browning 0:42
Sure. So I’ve been in association management, I started at the National Association of homebuilders with their student chapters program. Over 20 years ago, I worked there for quite a while. And then I moved on to the coastal Association of Realtors six years ago, on the eastern shore of Maryland. And, and now I’m here for the last month and a half or so,

Carrie Danko 1:07
a great, hopefully, it’ll be here for a lot of months in the future. So we’re very happy to have you and for you do have just a great experience to bring here too far. And it’s membership. So you’ve had a little more than a month, like you just said, to get to know us. What are you most looking forward to for 2022?

Page Browning 1:28
Well, a lot of my time, the last few weeks has been spent getting to know my colleagues here at the association and getting to know the board members and committees. And I’m really looking forward to working on implementing the things that the strategic plan wants us, you know, that you guys worked on last year. It’s a great strategic plan, with education and inclusion and working with broker. So I really want to dive in to all of that and really bring value to our members. If there’s a bit of a learning curve, and I’m getting through that, but I think by the end of 2022, we will be off to a great start.

Carrie Danko 2:08
Absolutely, I think with your focus to value to the members there there’s no way we can go wrong. So so that’s great. So do you have any questions for me? Yeah, I

Page Browning 2:18
do. So you’ve seen a lot of changes that are over the last several years? And how long have you served on the

Carrie Danko 2:26
board. So I’ve been on the board since 2017. And as a director, and then I quickly went into leadership as treasurer. And then of course now the president. And so I want to tell kind of quick, funny story about how I got to be on the board. I knew that I was going to be interviewed or I was told that I was going to be interviewed, but I had never received an invitation for the interview. And so this is back in 2016. And I’m at a home inspection. And fortunately, fortunately, I was at a home inspection out of the gym. And towards the end of it, I received a phone call from Pat brain, that former CEO and she said Hey, are you coming to your interview? And I went, I didn’t know that I had an interview. She says yeah, it was 15 minutes ago, and I said, I do not have anything about an interview on my calendar and my phone, whatever. And so I said I can get there like in the next 15 minutes if there’s a way for me to kind of to get in there now. And she was like, Yeah, well, we’ll wait. And so of course I you know, was like just frantic, trying to get too far to get in this interview that I had not prepared for even a little bit because I didn’t know what was happening. And it turns out when I got there that they had sent the invitation to the wrong email address. So fortunately, it was not an error on my part that I had to kind of start off on a on that on that foot. But um, so anyway, I so even even the beginning for me, there was challenges. And certainly challenges have continued. Yeah, throughout the years, but we we’ve we’ve definitely overcome them so well. And

I think that’s the sign of a good leader is you can think on your feet and adjust. And I think the key word the last couple years has been pivot. We all we’re all sick of hearing that word, but with COVID. So sorry, your job was the interview.

I don’t know that I was running against too many people. I think that year it might have been two slots for two positions. But anyway, doesn’t matter. It was still very stressful. So

Page Browning 4:25
yeah. Oh, well. Good. Well, we’re glad that you, you join the board for sure. We just mentioned that 2021 and 2020. Really, really challenging with COVID. And then you guys had the changeover with the CEO. How do you feel the team, the board staff, the committee members the membership in general How did everyone handle it?

Carrie Danko 4:48
So it’s funny you just mentioned the word pivot and certainly it is an overused word that that that has been used the last a year and a half, almost two years now I guess here and a half but true It is just the the ability to pivot It was truly a I gotta tell you when the 2020 you drew is starting his second year as president and I knew that I was coming in the next year, and we kind of had all these plans for, you know, really kind of getting together and figuring out how to make that transition and, and then COVID hit and you know, so I was definitely on a in a personal way I was I was worried about kind of what I was going to do and what he was going to do, you know, to get us to 2021. But then very quickly, by just watching the way that far went into action to just make the necessary changes on just everyone just kind of did their part to make sure that there was an eye muted as kind of a flawless seamless transition from your in person meetings to to zoom meetings to making sure that the members needs were still met. I mean, you know, and then and then for me to know that, yeah, of course, I was hopeful going in, I think we all were going into 2021 that we would no longer have to be pivoting or adjusting or you know, whatever word you want to use. But it that’s that’s just not what we were dealt. And so once we kind of were on a roll boy, we were on a roll, and I think it’s just been phenomenal to see the way that membership leadership, and the staff just kind of came together to make it all work.

Page Browning 6:22
Yeah, I mean, I can see coming in here knew that it went really well. I it doesn’t seem like they stopped really. So what would you say you learn the moat is an organization that we learned the most through this, you

Carrie Danko 6:35
know, I think that we’ve learned what really the world has learned is that we don’t have to be in person to do things effectively all the time. And there’s certainly a place for it. But we you know, the the hybrid element that I think has come out of, you know, COVID and and now still COVID. But you know, we’re getting to do in person things in person events. I don’t think we’re going to ever lose that. That hybrid that the the ability to be sitting in your home with dressed from the waist up and nice clothes and pajamas and your waist down. I’m not going to tell you whether that’s what I looked like right now or not. But yeah, I think we’re ever going to lose that. And so I think that’s one of the biggest things is that we learn that we change things thinking, Okay, this is just going to be temporary, hoping that it was going to be temporary. And now we’re hoping that we don’t just revert back to the way things were because we’re no longer we’re never going to be there again, if everything’s changed. And I think we just really have to figure out going into 2022. how best to to, to, to do things. And I think we will,

Page Browning 7:44
yeah, and I think that’s great, too, with committee meetings, especially you can if you have folks that can’t drive over here, or they have a busy day that you really want them to participate for an hour during the day, then then what you just said is perfect, you know, we can accommodate that. And that’s worked really well.

Carrie Danko 8:04
I feel like hybrid was very scary. To us as an association, I think it still is to some respect, because it is it is difficult. You want to make sure that everyone’s getting the most out of every event and every, you know, training or meeting. But we’ve learned a lot since the beginning. And we’re going to continue to learn a lot as to how to do it better and make sure that we’re meeting the needs. Good. All right. So how about we do just a few rapid fire questions? Sure. Alright, so we got to think on our feet here. All right. So here’s a good what, three words, just three page. Would you describe your first six weeks? That’s

Page Browning 8:52
our question, I would say busy. Welcoming. I think everyone’s been so welcoming to me. And exciting. So those are three. Yeah,

Carrie Danko 9:08
those are good three words. As we recruit new leaders and fresh faces for far as you talked about, we really want to look at our strategic plan and implement it to the best of our ability, fresh faces for FAR committees and the board. What characteristics would you say are most important for the leaders of far

Page Browning 9:31
that they need to be enthusiastic and ready to get to work, committed to our strategic plan and what we’re trying to do for our membership as a whole and our community and we truly believe this can I do for

Carrie Danko 9:49
you can do as I did not limit you on the words. You can talk all day if you want to. I’m not sure people are going to continue to listen.

Page Browning 9:57
Well, I’ll keep it short. I think We want knowledgeable people, but people, even if they don’t, aren’t an expert on a topic, people that are willing to learn. So if they want to be on a committee and learn something, we are open to that. And then we want we want people within that are ethical, that will do the right things for our members. So those are that’s what I would say.

Carrie Danko 10:24
Okay, so let’s see, let me think, non work related. Here’s, if you could travel anywhere in the world, where would it be? And why?

Page Browning 10:39
anywhere in the world? Well, my husband’s from Ireland, you actually were able to meet him. And so we do try to visit Ireland every couple of years. So I would say I head back to Ireland and visit with John’s family.

Carrie Danko 10:55
Very nice. Okay,

Page Browning 10:57
good question. I do the same with you. All right. So actually, I want to ask him the same question that you asked me, as we recruit new leaders and fresh faces to be involved, what what would you say are the most important qualities they would have?

Carrie Danko 11:18
So I mean, I really do feel like it takes passion, and I think we all should have it. And so I think we have to find it, if we don’t, if we don’t have it, you know, we’re in this industry, and we’re, you know, everything we do is really to for our clients. And so we’re all realtors are we’re all in the in the industry. And, you know, to have a passion to be able to add to the things that we’re doing as an association to better ourselves and each other, I think it’s really important. So yeah, and I would say the most of the leaders that we have here are passionate about far and about, about their, their jobs. So I think empathy is is a big one, I think the ability to I know for me, and I kind of pride myself, and I certainly hope that other people see it in me, I something I want to exhibit is the just the ability to really be able to look at everyone’s perspective, and whether you agree with it or not to respect that other people have opinions that are going to differ from yours. But then to have the knowledge and just the strength to be able to then to take all that into consideration and make and make decisions. So you have to be able to get to make those those hard decisions. And not all decisions are hard, but but certainly you don’t want to make decisions on your own. So you just you do need to have that ability to, to accept other people’s perspectives. And then I guess, integrity. I mean, you said it, too, I think, I think if you’re in a leadership role, and integrity is huge. And we’re all under a code of ethics that is extremely important. And certainly I integrity should be first and foremost on our mind when we’re trying to lead the people in the association.

Page Browning 13:10
Yeah, yeah, I agree. I agree. Good. Well, a little bit of fun, what was your favorite event either virtually or in person that that we had in 2021.

Carrie Danko 13:23
Okay, so we’re just starting to get into being able to do in person events, which I’m which I’m really excited about the show early on in the year. So, you know, as I started being president, you know, I tried to attend, like, as many meetings I’m still trying to, and all being on zoom for so long was was easier than maybe some other presidents have had in the past. But I also tried to attend, like, a couple of the groups would do like a little happy hour, or kind of get together in the evening on zoom. And I tried to attend those, and those were great. One in particular, YPN actually held a pizza making party with orofino. And I thought that was a ton of fun, actually. My husband was even able to kind of join in and our pizzas were horrible. I mean, it wasn’t orofino thought it was completely just us trying to do something that we’re just clearly not equipped to do. But it was fun, because everyone was kind of in the same boat. Some people did a really great job, but so kudos to YPN for putting that on and on. And then it wasn’t necessarily a far event, but it was a far of that, but a pet brims going away party I mean, I think that was the first time that I you know, that we all really did get to get together in person and interact and and I thought that it was a really special night you were there. I thought it was a really special night that it especially after so much time not being together. But yeah, even if we hadn’t, you know, even though we hadn’t been together, it still would have been special. So I think those two things probably stick out in my mind at this point

Page Browning 15:04
yeah that was a wonderful evening that was that really allowed me to see the big shoes I have to go

there was a great great evening so what are what would you say my my next to last question what are two words to describe how the committees and board work together for the membership?

Carrie Danko 15:26
Um, oh well I tirelessly

and I don’t know

enthusiastically sometimes I you know it the way that the committee’s we are all volunteers you know and so I and we are always trying to grow the people who are involved I think we all should be involved another plug for involvement. But really, there are groups of people who are doing nothing but trying to figure out how we give value to the membership and and it’s I just love to see the the again I guess passion is that is that word that I used for leadership qualities and I think that you I think there should be no more synergy moving forward between different committees You know, there’s nothing wrong with the education committee working with YPN on something or you know, just that kind of thing but I think everything of we do have some some folks here who care a great deal about this membership.

Page Browning 16:35
It’s definitely evidence for what I’ve seen. Okay, a fun one. This might be easy for you What’s your favorite sports team?

Carrie Danko 16:45
So Page, you and I know each other but I think you don’t know I am a huge sports fan. I love I love it all. I’m a huge football, basketball, baseball, hockey Bob and I even watch bowling and I know that some of you are going to watch but we do crazy we know a lot of the bowlers names and we look forward to the to the broadcast but on my favorite team I growing up all throughout my life I’ve been a while not all toppling Washington football team, they used to be called something else. So I was a different fan years ago, but and of course they have stunk for a long, long time. So it’s been very difficult to be a Washington football team fan. But then I met Bob and he’s at Green Bay Packer fan. So suddenly, I had something to to get behind a root for. I’m still a Washington football team fan. But I think I’m equally a Green Bay Packer fan, which is going to be interesting because we go to Green Bay on Friday to watch the packers and the Washington football team compete. So we’ll see I don’t know what I’m wearing just yet. I it’s my mind’s all jumbled as to I guess a Green Bay Packer t shirt. And maybe I wear a Washington football team jacket. I don’t know, I’ll figure it out. But um, I love it. I love Love, love, love, love sports.

Page Browning 18:04
Good. Have fun. Yeah. I actually love sports too. But I tend to watch golf. So maybe not as exciting.

Carrie Danko 18:15
As bowling. We’re really cool women, Page. All right. I think this is pretty much the time that we have together today. And so I just want to thank you so much for joining us, not only today but as far as we’re so happy to have you. And I just add members. If you haven’t come out and met Page yet. Please do so. And we’ll see you guys around.

Page Browning 18:42
Thank you. Bye bye.

FAAR Louder Podcast Episode 25 “Videos in the MLS”

FAAR Louder Podcast Episode 25 “Videos in the MLS”

Welcome to the FAAR louder podcast presented by the Fredericksburg Area Association of Realtors®. This episode is brought to you by Kensington bank guard National Land services. Kensington Vanguard is one of the largest independent full service title insurance agencies in the country, providing residential and commercial title insurance, settlement services and 1031 exchange services. Hi everyone, fire communications director here, Lauren Zuza. I’m often behind the scenes but today I’m here to share a helpful story from an agent. The story pertains to a tricky rule when working with video public websites like YouTube, and bright MLS in order to protect your business and avoid any potential fines. One agent learn this rule the hard way with a warning from Bright and encouraged us to share her story.

So many of you are accustomed to uploading your listing videos to YouTube and then sharing the video on the MLS from YouTube. Now this could be an issue if you’re following the Virginia laws requiring your information when advertising on public sites and following the rules from bright MLS which day branding is not allowed on videos and listings. So what’s the solution? If your videos typically have branding within the video itself, this is the process I recommend for you.

Before you add any branding to your video, export your first video, and then add your branding and save it again. You can use your branded video on public sites and upload the one without the branding to brighten. Now you’ll want to avoid using any public site URLs like YouTube and your listing because of the Virginia state laws requiring your information on your advertising. Now if your videos don’t have any branding, you still have to be careful. What you can do is you can upload the exact same video on bright MLS and YouTube but you want to make sure you upload the file from your hard drive when putting it in your listing in bright MLS not sharing the video URL from the public site like YouTube.

Now whether you’re working with a professional or creating your own videos, you will always want to have two versions one with your branding one without and you always want to make sure you upload the video from your hard drive into your listing. So that’s my message for the day. I hope to catch you next time.

MBH CEO, Fred Westerlund receives national recognition with the October Search’s 2021 Leadership Award

MBH CEO, Fred Westerlund receives national recognition with the October Search’s 2021 Leadership Award

On Wednesday, September 1, Fred Westerlund, CEO, MBH Settlement Group, was awarded the October Research 2021 Leadership Award at the National Settlement Services Summit (NS3).

Established in 2012, the October Research awards program honors men and women in the title, underwriting, lending and settlement services industries for exemplary accomplishment in the areas of Leadership, Innovation and Philanthropy.

Presented by Erica Meyer, CEO and Publisher of October Research, on Wednesday, September 1, 2021.

Fred is honored to be placed in such distinguished ranks of past honorees, and the tremendous leaders in our industry. Evident in Fred’s management style and his remarks are his dedication to the industry and the individuals with whom he works.

“At MBH, we focus on the 3 C’s: our Clients, our Colleagues, and our Communities. We believe that everything else will follow. A leadership award is really a team award, so, I would like to thank the incredible team we’ve assembled at MBH. They are amazing and they inspire me every day.”

With a wealth of experience in operations, business development, and risk management, Fred Westerlund provides leadership and vision to MBH Settlement Group.

He has been involved in real estate services in the D.C., Maryland, and Virginia markets for 16 years, and brings 29 years of leadership in sales, marketing, and operational roles across multiple service industries.

Prior to Fred’s career in business, he served as an officer in the U.S. Army. He’s earned a Masters of Business Administration from the Wharton School of Business at the University of Pennsylvania and holds an undergraduate degree from the United States Military Academy at West Point.

Fred is active in the industry serving as Chairman of the Real Estate Finance and Settlements Forum for the Northern Virginia Association of REALTORS.

He’s also active in the community, serving on the board of his Homeowners Association and supporting a number of different charitable organizations.

About MBH Settlement Group

Established in 1994, MBH Settlement Group is proud to be a settlement industry leader in the D.C. Metro area. MBH is committed to its partners and clients, serving our communities for more than 25 years in our 20 offices across Virginia, Maryland, and Washington, D.C.  

Press Releases

High Prices, Continued Low Supply Close Out the 2021 Housing Market

  While many Realtors® have experienced moderating of the real estate market in recent months, 2021 as a whole was a more frenetic market than its record-setting predecessor of 2020.  “2021 saw the trend continue of extremely low inventory coupled with very...

Local Home Prices Up Big in November

While some normalcy continues to return to the market, prices increased significantly in November with the area housing market flirting with a $400,000 median price.  Total sold dollar volume increased by 22% fueled by a more than 16% rise in median sold price and a...

FAAR installs 2022 Leadership Team and presents 2021 Awards

  The Fredericksburg Area Association of REALTORS® (FAAR) installed its 2022 Leadership Team in a ceremony at Stevenson Ridge on Thursday, December 9, 2021. Despite the year’s many challenges, the Association under 2021 President Carrie Danko remained committed...

Fredericksburg-area Home Sales Slow Slightly in October

The Fredericksburg-area real estate market showed indications of cooling with the first year-over-year decline in units sold since the start of the pandemic.  Units sold posted a more than 3% decline this October versus last year with 736 home sales in 2021 compared...

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