Get Involved
Events and opportunities you can get involved inTake the 2017 Membership Survey and you could win a $300 gift card!
It is time to take stock again in preparation for strategic planning. The 2015 strategic plan listed goals in specific areas. Over the last three years, through the coordinated efforts of members and staff, milestones were achieved. Please review the accomplishments and then take the survey that follows to assist in the goal setting for the 2018 Plan.
Take this short 10-question survey and you could win a gift card worth $100, $200, or $300! Before you start look at what you have achieved… Membership Education and Professional Development Advocacy, RPAC Community (Consumer) Outreach |
Keep your eyes peeled for Realtor rocks!
Members and friends of the Fredericksburg Realtors® Foundation gathered on Thursday night to paint rocks in support of the charity. Wait, what? Paint rocks? Oh, yes! The rock craze has officially swept through the region with kids begging parents to go on hikes to find rocks, people snapping pics of their favorite rocks and posting them to Facebook, and people spending hours painting the perfect rock to hide. The rocks can be found all over the region and bring a smile to the finder’s face!
The Foundation raised over $200 at this fundraiser which provided 3 rocks, painting supplies, and refreshments for those in attendance. Keep your eyes peeled for some of these great rocks around town!
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- FAAR members paint rocks
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- FAAR members paint rocks
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- The rock masterpieces
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- Rocks, rocks, everywhere
Hot Local Housing Market Continues into July
Fredericksburg, VA – (August 11, 2017) – The following analysis of the Fredericksburg, Virginia area housing market has been prepared by the Fredericksburg Area Association of REALTORS® based data provided by Bright MLS (formerly MRIS).
The temperature wasn’t the only thing heating up during the dog days of summer, with the local real estate market posting another month of increasing sales, median price, and units sold coupled with decreasing days on market. Total sold dollar volume was up 14.15% compared to July of 2016 coming in at $196,474,044. This increase was fueled by a more than 9% increase in median sold price and a nearly 8% increase in units sold compared to the same time last year. In July of 2016, the market saw a median sales price of $275,000. That price increased to $301,000 in July of 2017. Units sold came in at 578 in July of 2016 compared to 622 in July of 2017. “This is an interesting time in real estate,” stated FAAR 2017 President-Elect Kevin McGrath. “Offices are busier than they have been in quite a while. A lot of new agents are finding themselves getting busier much more quickly than new agents in the past.”
Days on market, the amount of time it takes from when a listing enters the market until it has a ratified contract, decreased over 13%, going from 53 days in July of 2016 to just 46 days in July of 2017. “If a property is priced right, within 20 minutes of it going active in the Multiple Listing Service is seems like agents are setting up showings,” commented McGrath.
Inventory continues to be a challenge in our market with yet another month of fewer listings than the previous year. July of 2016 saw 1,815 active listings on the market and July of 2017 had 4.9% less at 1,726. At the current time, there is a 3.56-month supply of available homes, a healthy market generally has about a 5-month supply of homes.
While sellers are putting their homes on the market more than last year, it isn’t enough to keep pace with demand. July saw a 3.45% increase in new listings with 839 added to the market in 2017 compared to 811 in July of 2016. “Rising prices are due to a lack of inventory,” continued McGrath. “We need sellers to list their homes in greater numbers than we’re seeing to satisfy the increasing demand in the market.”
FAAR to Host Candidate Interviews for Local Elections
On Tuesday, August 22, 2017, the FAAR Public Policy Committee will interview candidates running for local office including seats in the General Assembly and local Boards of Supervisors. Each candidate is sent a candidate survey to gather information on where the individual stands on issues such as transportation, growth policies, and taxes. 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. The candidate interview schedule is published below, please RSVP to Kim McClellan at kmcclellan@faarmembers.com if you would like to attend the interviews.
Interview Schedule
Morning Session
8am: Cindy Shelton (Stafford County Board of Supervisors, Aquia District)
8:30am: Nelson Gentry (Spotsylvania County Board of Supervisors, Berkeley District)
9:00am: Open
9:30am: Chris Yakabouski (Spotsylvania County Board of Supervisors, Battlefield District)
10am: Kevin Marshall (Spotsylvania County Board of Supervisors, Berkeley District)
10:30am: Cathy Binder (King George County Board of Supervisors, Shiloh District)
11:00am: Greg Cebula (Spotsylvania County Board of Supervisors, Berkeley District)
Afternoon Session
3:30pm: Greg Bundrick (Stafford County Board of Supervisors, Falmouth District)
4:00pm: Mark Dudenhefer (Stafford County Board of Supervisors, Garrisonville District)
4:30pm: Yolanda Rousell (Stafford County Board of Supervisors, Aquia District)
5:30pm: Meg Bohmke (Stafford County Board of Supervisors, Falmouth District)
6:00pm: Laura Sellers (Stafford County Board of Supervisors, Garrisonville District)
6:30pm: Joshua Cole (House of Delegates, District 28)
7pm: Bob Thomas (House of Delegates, District 28)
2018 Board of Directors Slate of Candidates Announced
“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 (Chief Executive Officer) By August 16, 2017. The Secretary (Chief Executive Officer) shall send notice of such additional nominations to all REALTOR® members before the election.”
(As of 6/30/17 there are 1566 REALTOR® members. 313 names are needed to complete the petition requirement and be sent to FAAR by August 16, 2017.)
Sample Ballot
Slate of Candidates- 2018 Leadership
Election September 13, 2017
FAAR offers electronic voting and the ballot will be sent in an email to each REALTOR® member on August 23. Those who want to vote with a paper ballot can do so by going to the Election table in the Lobby of the Expo at the September 13 Expo from 9 am to 1 pm. Election results will be announced after 2 pm at the Expo on September 13.
Candidates for 2017 Election for the Year 2018
President Kevin McGrath- Long & Foster, Inc.
*President-Elect Drew Fristoe, Coldwell Banker Elite, Massaponax
*Vice President Arlene Mason, Coldwell Banker Elite Realty
Secretary Mark Geslock, Century 21 Redwood
Treasurer Carrie Danko, 1st Choice Better Homes & Land, Fredericksburg
(a two-year term)
Immediate Past President Linda Fosdick, ABR, CRS, GRI- Dockside Realty
Directors- Three candidates for three positions. Select up to three.
__ Pam Kuper, Century 21 New Millennium
__ Clay Murray, Coldwell Banker Elite, Spotsylvania
__ Sandy Pearce, Coldwell Banker Elite, Spotsylvania
Three candidates for 1 affiliate position. Select one.
__ Phillip Blake, MBH Settlement Group
__ Barry Moore, ALCOVA Mortgage
__ Donna Schmidt, American Home Shield
*Please note that Drew Fristoe is now running for 2018 President-Elect. Arlene Mason, the current Vice President, asked that her name not be forwarded for 2018 President-Elect. Due to a family medical issue, Arlene requested that she remain Vice President in 2018 and be considered for the President-Elect position in 2019.
Flood Insurance is Key for a Healthy Local Real Estate Market
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Deal Confidently with Distressed Properties
Michele Freemyers is back with another amazing class on foreclosures, short sales, and bank-owned properties. Get the low down on the legal implications of these types of transactions with information geared to new and seasoned agents alike!
Check out the photos from this year’s Family Fun Day Crab Feast and FAARBQ!
FAAR Unveils New Website to Better Serve Members and the Public
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Special Alert | POA Form Update
The Common Interest Community (CIC) Board has amended the Virginia Property Owners’ Association Disclosure Packet Notice Form, which is required to accompany all property owner association disclosure packets.
This form now states, “[t]he purchaser may have the right to cancel the contract after receiving the disclosure packet or an update of the disclosure packet.”
The form is currently available on the Common Interest Community Board website and is already in use by property owner associations.
The use of the word “may” in this context could cause confusion as to whether and when a buyer has a three-day right of cancellation, when in fact, the law does give the buyer the right to cancel the contract after receiving the disclosure packet, but not after receiving an update.
We will offer additional information as your Virginia REALTORS® staff works on your behalf to ensure that the form language accurately reflects the law.
What you need to know
- The form is legally incorrect since it says the buyer may have a right to terminate after receiving an update. However, the use of the word “may” reduces the risk while we work to have the form changed.
- The form could cause some confusion with your clients as to their rights.
- There IS absolutely a three-day right of cancellation after receipt of a disclosure packet.
- There is NOT a three-day right of cancellation after receipt of an update.
- This does not apply to the Condominium Act or condo resale certificate.
Additional Resources
You can find further information on this issue by contacting the Virginia REALTORS® Legal Hotline.