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#MemberMonday Meet #Realtor Brooke Sumners

#MemberMonday Meet #Realtor Brooke Sumners

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
Brooke Sumners

Hometown
Stafford

Current Location
Locust Grove

Title
Real Estate Agent/Realtor

Why do you love working in real estate?
Real estate has been my passion for as long as I can remember. From the architecture of all of the different style homes to the character, decoration, history etc. I always knew that I wanted to be involved in real estate one way or another. Now I get to help families close a chapter in their lives or begin a new one and help them along the way make their dreams come true.

What are you most proud of in your career?
I think the thing that I’ve become the most proud of in my career is that my kids have seen that no matter how long it takes you to get where you want to be that anything is possible if you set your mind to it and want it enough. Most recently, my oldest son graduated high school and for his graduation gift he wanted to take the real estate course to become an agent himself! This makes my heart happy!

Do you have a special cause or volunteer your time?
The Toys for Tots program is very near and dear to me. I have worked at the Foundation for over 11 years and each year I am more grateful to be a part of such a great charity that helps give back to their communities and most importantly the children in those communities, our future!

Brooke-Sumners-Realtor-Fredericksburg-street-pose-headshot
Sample Ballot for the 2023 FAAR Board of Directors Slate of Candidates

Sample Ballot for the 2023 FAAR Board of Directors Slate of Candidates

 

Sample Ballot

Slate of Candidates- 2023 Leadership

Electronic Voting begins August 9 and ends September 14 at noon

FAAR offers electronic voting for its members. The ballot will be sent via email to each REALTOR® member on August 9. Voting closes September 14 at noon. The results will be announced on September 14, 3:00 p.m., at the General Membership Meeting on the floor of the FAAR Expo (bit.ly/22faarexpo). The results will be communicated to the entire membership September 15.

Here are the candidates for your 2023 Board of Directors:

President                Carol Sondrini

President-Elect        Randy Walther

Vice President          Dawn Josemans

Secretary                  Kardin Lillis

Treasurer                  Lauren Tate

 Immediate Past President  Deb Ellis

 

Director Candidates – three (3) positions open. Select up to three (3).

__ LeAnn Black

__ Michelle Caldwell Thompson

__ David Cropper

__ Stephanie Hiner

__ Meghan Kala

__ Evelyn Martin

__ Tamar Myers-Moffatt

__ Don Pett

(Continuing from the 2022 Board- Abby Fitzsimmons (2023 & 2024), Gary Gardiner (2023), Matthew Rathbun (2023)

 

Two candidates for one (1) affiliate position. Select one (1).

__ Chad Hallett

__ Sherrie Shaw

 

From Section 8 a. of the Bylaws:

“…Additional candidates for the offices to be filled may be placed in nomination by signed petition of at least twenty percent* of the REALTOR® members. The petition shall be filed with the Secretary by August 1, 2022. The Secretary shall send notice of such additional nominations to all REALTOR® members before the election.”
*As of 6/22/2022 there are 1,880 REALTOR® members; 376 names are needed to complete the petition requirement; and the petition must be sent to the CEO of FAAR (Page Browning pbrowning@faarmembers.com) no later than August 1, 2022.

 

 

 

Has the local housing market reached its peak?

The local real estate market in May showed signs of cooling, with the largest year-over-year decline in units sold since 2017 and the first drop in total sold volume in years.  While demand may be abating due to rising interest rates, inflation pressures, and economic uncertainty, prices continue to skyrocket in many markets.  May closed out the month with a more than 6% decrease in total sold dollar volume, going from approximately $365 million in May of 2021, down to just over $343 million in May of 2022.  Fueling the decline in total volume was a steep decline in market activity.  Units sold declined nearly 16%, going from 889 in May of 2021 and declining to 749 in May of 2022.  At the same time that demand is waning, median sold price posted another big year-over-year jump, clocking in at $436,000 in May of 2022 compared to $390,000 in May of 2021. 

FAAR Board of Director Lauren Tate comments, “The May 2022 market is seeing a slight shift.  While inventory remains low, it is starting to become a more level playing field for buyers, impacting demand due to the increase of mortgage rates.  In previous months, sellers held the cards pulling multiple contracts, driving over list price offers to exclude enticing key contract elements such as waived appraisals, appraisal gaps, no contingencies and no seller contributions to sway the seller to pick the best offer.  Today we are seeing inventory remain on the market slightly longer with price adjustments, which is confusing those sellers who have expectations that the market will mimic previous months. The market will continue to level out due to the uncertain economic changes.”

The decline in units sold was seen in every jurisdiction in the FAAR footprint.  Orange County was down the least from last year with a 6% decline while Caroline County took the biggest hit with a nearly 42% decline in units sold.  These declines translated into a decrease in total sold dollar volume in all areas but one.  Spotsylvania County managed to hold onto a near identical sales volume as May of 2021, with a scant 0.08% increase.  Despite decreasing sales volume, prices are staying high in all of our jurisdictions.  Caroline County saw its third highest median price on record coming in at $320,000 while Spotsylvania’s median price skyrocketed over 21%, coming in at $443,000 in May compared to $365,505 last year. 

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, stayed flat from last year at 11 days.

Active listings have shown year-over-year growth since July of 2021 with May posting another 46% increase in homes on the market.  There were 838 homes on the market at the end of May compared to 573 last year.  New listings were down this May by about 15%, with 1,024 new homes coming on the market compared to 1,200 last May.  New pending sales were down over 23% and overall pending sales are down 30%, indicating that continued supply challenges

Want to know more?

View more statistics on our Market information page

#MemberMonday Meet REALTOR® & Broker David Cropper

#MemberMonday Meet REALTOR® & Broker David Cropper

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
David Cropper

Hometown
Fredericksburg

Current Location
Fredericksburg

Title
Broker Owner

Why do you love working in real estate?
I see real estate as a way to build wealth and security. I consider myself a coach and mentor, and I see a family setting down roots, and buying their first home, it makes me proud to do what I do.
Real Estate is not just a transaction, buying or selling a home is a story, and I strive to be a hero in that story.

What are you most proud of in your career?
I am very honored to be able to become a broker and start my own brokerage, in doing so I am now able to coach and mentor the agents who work with me and see them succeed in their professional careers.

Do you have a special cause or volunteer your time? 
Cropper Home Sales LLC. is built on community service. All my agents are encouraged to volunteer. I am proud to be the current president of the Realtor Foundation, Helping those in our community get into and retain housing. I am also a member of the Lions Club, assisting in eye care and hearing aids for low-income families.

Fun Fact
I am an animal advocate and have 5 cats and a dog, through my volunteer work have been know to ride a motorcycle dressed in a cat suit to raise money

Tina Keene Exit Elite Realty

FAAR sends letter to Louisa County expressing concerns over short-term rental ordinance

Louisa County released a draft ordinance on short-term rental regulations in April which included limiting occupancy to 2 transient visitors per bedroom.  Many homeowners at Lake Anna purchased their homes with the intent to rent to make it financially feasible and have followed the rules for many years. This reduction in rental capacity could have significant impacts to those property owners who focus on family rentals by limiting how many children are permitted in each bedroom.  FAAR also has privacy concerns about the proposed amount of information that each property owner would have to collect on short-term renters, including minor children.

FAAR partnered with the Charlottesville Area Association of Realtors (CAAR) to send a letter of concern.  An overview of the proposed regulations and the letter that was sent are both accessible below.

Louisa County Short-Term Rental Ordinance

FAAR-CAAR Letter of Concern

FAAR on TownTalk

FAAR President Deb Ellis and Public Policy Director Kim McClellan were on 1230 WFVA’s TownTalk with Ted Schubel talking about the local real estate market.  The wide-ranging conversation covered the current market status, factors that led us to this point, and what buyers and sellers can expect going forward.  Listen to the show by clicking the button below!

#Member Monday Meet REALTOR® Dalal Abilmona

#Member Monday Meet REALTOR® Dalal Abilmona

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
Dalal Abilmona

Hometown
Fredericksburg , VA

Current Location
Fredericksburg , VA

Title
REALTOR®

Number of Years in the Industry
10

Why do you love working in real estate?
I get to meet new people every day and help them make life changing decisions. No two days are ever the same and we have the freedom to work from anywhere. I can work from home, my car, the coffee shop, or even the beach in Bali?! My most favorite reason for working in real estate is creating lifelong friendships!

What are you most proud of in your career?
Getting Buyers and Sellers through complex situations and seeing them smile at the end!

Do you have a special cause or volunteer your time? 
I volunteer for the Spotsylvania County Sheriff’s Department. I love sharing my time in our local community and helping with public events. Two charities near and dear to my heart I support are Wounded Warriors and St. Jude’s Children’s Hospital.

Fun Fact
I am bilingual. My great grandfather was in the third class group on the Titanic and was a survivor. My aunt,(Elsie Belman), became the first female limousine driver in Washington D.C., and later started her own local Limousine company and chauffeured some pretty big stars.

Tina Keene Exit Elite Realty
#Member Monday Meet REALTOR® Chasity Richardson

#Member Monday Meet REALTOR® Chasity Richardson

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
Chasity Richardson

Hometown
Wildwood NJ

Current Location
Stafford

Title
REALTOR®

Why do you love working in real estate?
I am very passionate about helping people. Real Estate helped me find an area to specialize in! I help people solve housing problems, and I love it!

Favorite Work Story
Walking into the Century 21 Redwood office and seeing the Relentless Agent Book. I knew it was the place for me.

What are you most proud of in your career?
I am proud about being able to use my commission to help my own children get through college without Student Loans and help others by helping with book scholarships.

Do you have a special cause or volunteer your time? Tell us about it here!
I love donating to college book scholarships, as paying for books is a major barriers to success for disadvantaged students.

Tina Keene Exit Elite Realty

Regional home prices continue to soar in April

The local real estate market broke more records in April of 2022 with the regional median sales price and two jurisdictions seeing all-time highs.  The month closed out with a nearly 18% increase in total sold dollar volume, going from approximately $288 million in April of 2021, t0 nearly $339 million in April of 2022.  Median sold price was up a whopping 15% year-over-year, clocking in at $440,000 in April of 2022 compared to $384,075 in 2021.  That beat the all-time high record of $410,000 set in February of this year.  Units sold settled at 731 in April of 2022, compared to 719 in April of 2021, an increase just shy of 2%. 

FAAR Board of Director Gary Gardiner comments, “The April market continued to be highly competitive for buyers and extremely positive for sellers. Multiple offers, escalating sales prices, and waived contingencies are some of the benefits sellers are evaluating to make the best decision.”

The stark rise in prices was very apparent in April with Stafford and Spotsylvania counties breaking previous price records and the other jurisdictions not far behind.  Spotsylvania County posted an all-time high price in April 0f 2022 of $409,999 while Stafford County came in at a staggering $499,825.  Gardiner continues, “Despite the recent increase in mortgage rates, real estate professionals are still experiencing more highly qualified buyers in the market than the number of homes available for sale. Low home supply and high buyer demand continues to be the driving force to our competitive market.”

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 stayed flat from last year at 14 days.  That reversed a months-long trend of increasing days on market that started in September of 2021.  Despite six months of increasing sit time on the market, overall days on market is still very low by historical standards.  The five-year average for April is 27 days on the market compared to the nearly half of that this April at 14 days.   

Active listings have shown year-over-year growth since July of 2021 with April posting another 44% increase in homes on the market compared to last year.  There were 727 homes on the market at the end of April compared to 505 last year.  While that increase is good for buyers, there were still nearly 1,000 fewer homes on the market this year than just three years ago in April of 2019.  New listings were down this April by about 12%, with 1,057 new homes coming on the market compared to nearly 1,200 last April.  New pending sales were down nearly 23% and overall pending sales are down nearly 30%, indicating that continued supply challenges and increasing interest rates could be dampening demand.

 

#MemberMonday Meet REALTOR® Joseph Goins

#MemberMonday Meet REALTOR® Joseph Goins

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
Joseph Goins

Hometown
Fredericksburg

Current Location
Fredericksburg

Title
REALTOR®

Number of Years in the Industry
>1

Why do you love working in real estate?
I love making new connections and witnessing the joy my clients have when they step foot in their future home. Real estate is more than just selling and buying homes, it’s also about the memories and the friends you make along the way.

Favorite Work Story 
I was showing a client a home and on the listing it said “pets are friendly” I was thinking a dog maybe a cat. Well I pull up to the house and FaceTime my clients (it was a virtual showing) and we start in the front yard and make our way to the back yard to look at the pool and different fenced in areas around the property. Once we got past the pool I see a big round thing walking towards the gate. I say pretty loudly “is that a pig?” I have never seen a pig before. My client was rolling laughing watching me run on FaceTime to a gate full of joy over a pig. Overall the house wasn’t for my client but its the memories along the way that make the journey worth while.

What are you most proud of in your career?
Im most proud that I was able to become a realtor. It has been a dream come true to pass that test and join this association to get the title Realtor. My dad was a Realtor and my mom was a leasing agent. Also passing the test on my first try was the cherry on top.

Fun Fact
I love fishing, that’s no secret. However last year I entered into a fishing tournament and won biggest catfish. Another fun fact is for about one year I lived in San Jose California, and for about two and a half years I lived in Bismarck North Dakota. That is where I became addicted to fishing.

Tina Keene Exit Elite Realty

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