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FAAR Board of Directors adds transportation to Legislative Package
The FAAR Board of Directors recently voted to amend the 2018 Legislative Package to include transportation infrastructure funding to the State Legislative Positions. FAAR has always maintained a Standing Position on transportation, but moving the item up to State Legislative Positions brings a greater focus to the issue. Transportation is such a critical issue to our industry and our economy. While great strides have been made in securing needed funding for area projects, more needs to be done.
The FAAR Board of Directors adopted the following position:
TRANSPORTATION INFRASTRUCTURE FUNDING
State and Local Issue
One of the top issues facing the Commonwealth of Virginia is the growing mobility crisis throughout the population crescent stretching from Northern Virginia to Hampton Roads. FAAR applauds the passage of historic transportation legislation from the 2013 General Assembly session and the awards of funding for many transportation projects through the SmartScale process and the Atlantic Gateway project. FAAR continues to strongly advocate for keeping a focus on transportation infrastructure.
FAAR proposes the following actions to help address the region’s transportation crisis.
- Reform the SmartScale transportation funding process to more equitably distribute funds across the Commonwealth. A 7-day traffic count for congestion is the most important reform as some of the worst traffic in this region occurs on Saturdays and Sundays.
- Extend the current HOT lanes down to Exit 126 in Massaponax to truly address the serious volume issues crossing the Rappahannock River and approaching Route 3.
- Continue to invest in improvements to mass transit including VRE, Metro, and regional bus networks.
- Amend state law to allow any jurisdiction the right to consider establishing a regional transportation authority. With diminishing federal and state resources available for road construction and maintenance, localities need as many tools as possible to leverage funds for transportation infrastructure.
The Search for the Best Spring Awards Season
Who stands out as an exemplary agent, dedicated to the profession of real estate and dedicated to professional behavior? There are many FAAR members who can be characterized that way. Look around, who do you know that should be recognized by their peers? Awards Committee Chair Bonnie Ramey and Vice Chair Chip Taylor urge members to review the list of spring award possibilities and nominate a worthy candidate. The spring awards are marketed as Show the Love. The deadline for filing an application is February 16, right after Valentine’s Day. Here is the list and a link to the applications:
Melanie Thompson award
This award now better reflects the achievements of the person name for the awards, Melanie Thompson. The award was created to honor Melanie Thompson, who at a very young age, dedicated herself to becoming successful in her career through exceptional, professional service to clients and customers and dedicated service to the REALTOR® community and the community at large.
New for 2018 Educator of the Year
The Educator of the Year is presented to the FAAR Academy instructor who has made significant contributions to the education of the membership and exemplified leadership and service to that end.
Professional Honor Role
The production requirement returned to $2 million last year. down from $3 million. That reduction should open the recognition to more members. PHR recognizes the all-around agent who seeks out opportunities to gain education, professional designations, is involved in FAAR and the state and national associations as well as the community.
REALTOR® of the Year
Recognizes an exemplary agent who has made significant contributions to FAAR.
Rookie of the Year
A new agent who has done amazing well the first year in business
Manager of the Year
Recognizes a managing broker who focus is on creating a successful office by training successful agents
REALTORS® Choice
Who knocks it out of the park? This award recognizes an agent who is professional, great to work through a transaction and is a reflection of a real estate professional.
New for the Fall- The Icon Award
This honor is awarded to a REALTOR® who has make a significant mark on the profession of real estate in the locality where he or she works. The Nominee’s name is recognizable to the community at large and is synonymous with exemplary ethical behavior and knowledgeable and compassionate service to clients and customer. The individual is highly respected by the REALTOR® community. The Nominee is generous with his or her time supporting community organizations/project/programs: Application deadline is 10/31/18.
#MemberMonday | Meet Tricia Barnes
Name
Tricia Barnes
Hometown
Locust Grove
Current Location
Fredericksburg
Title
Associate Broker at 1st Choice Better Homes & Land
Number of Years in the Industry
28
Why do you love working in real estate?
I love real estate because it’s something new and exciting every day with tons of learning/growing opportunities. I love seeing buyers’ eyes light up when we find “the one”. I love seeing the next chapter in sellers’ lives come true as they sell. I love the flexibility of a Real Estate career. The irony is that when I graduated from George Mason University I was working part-time at 1st Choice (my mother’s Company) and I said I would never be a Realtor like her!
Favorite Work Story
I really began my career in Real Estate when I was about 5 years old! When my mother would bring home old contracts and paperwork, I would play real estate. I carried a briefcase, wrote contracts and looked at old MLS books.
What are you most proud of in your career?
Clients who become lifelong friends after helping them in Real Estate – what a treasure they are!
Do you have a special cause or volunteer your time?
My special cause is anything my Church is involved in that helps people – visiting nursing home residents; cooking meals for the sick; splitting wood for the elderly; Christmas caroling at the hospital; visiting shut-ins – whatever can bring a smile to someone!
Fun Fact
My husband and I love, breed, raise, train & sell Tennessee Walking Horses. It’s so exciting to see a foal’s personality begin to blossom, they are so much like kids! Some are mischievous, some are loving, some are rebellious, some are fun, some are serious and some are just crazy! Whenever there’s a tough real estate day, a few moments with a wonderful horse helps wash it all away!
Fredericksburg REALTORS® Foundation Awards $1,200 Grant
The Fredericksburg REALTORS® Foundation provided a $1,200 emergency housing assistance grant to Mental Health America of Fredericksburg (MHA). The grant was used to repair the home of a client of the organization participating in their Senior Visitors Program. The emergency repairs will allow the client to remain in their home.
The MHA client is currently receiving medical care and will soon be discharged to continue convalescing at home. Without the repairs provided through the Foundation’s grant funding, the client would not have been allowed to return home. The mission of the Foundation is to help individuals and families stay in their homes and achieve stable housing.
The Foundation provides grants to non-profits addressing local housing needs through a simple grant application. More information can be found at www.faarmembers.com/foundation/. 
Have you updated your lockbox firmware recently? Here’s how!
Do I need to update my lockbox?
As SentriLock adds features to a lockbox, the firmware of a lockbox may change. The series and firmware version in a REALTOR® lockbox tells it what features are available and how to respond to various commands. Every REALTOR® lockbox has a series and firmware version. Follow the instructions below on how to update your Sentrilock firmware.
Need help or have more questions? Visit sentrilock.com or contact Sentrilock at 1-513-618-5800
Day Not on the Hill?
There is not the traditional Day on the Hill this year as the General Assembly Building is currently under construction and the temporary office building does not have the space to accommodate large groups. This will be the case for the next four years while the building is being torn down and rebuilt. Due to constrained space and the challenging logistics of the temporary General Assembly office space, the Virginia Realtors® revamped the annual Legislative Conference into the Economic and Advocacy Summit.
The entire event will be held at the Omni Shoreham Hotel. There will be Legislator Town Halls on Wednesday, February 14 from 3:00pm to 5:00pm following a day of sessions featuring NAR’s Dr. Lawrence Yun and lunch with presidential historian Douglas Brinkley. FAAR is partnering with PWAR, DAAR, and NVAR to host a Town Hall so there will be many members from across central and northern Virginia coming to speak to the group. These Town Halls are part of the conference and cannot be attended without registration for the full conference fee. The fee is $99 and includes programming from Tuesday through Thursday. There is no one day registration option. If you have any questions about this year’s event, please email Kim McClellan.
Hope House Initiative | Item Drive
The Community Service Committee has partnered with Loisann’s Hope House to provide certain basic items during the January – March collection drive. Please consider helping this local charity by collecting the items listed and dropping them off at FAAR before March 31st. Thank you for your contributions!
December Closes Out a Strong 2017 for Local Real Estate Market
The 2017 real estate market posted a significant increase in total sold dollar volume and modest increases in both median sold price and units sold. The year closed out with a total sold dollar volume of $1,856,321,321 which represents an 11.5% increase over the year-end totals for 2016. The market saw a more than 6% year-over-year increase in units sold, increasing from 5,686 in 2016 to 6,036 in 2017. Median price appreciated by 4.6% increasing from $274,900 in 2016 to $287,556 in 2017.
Days on market, the time it takes from when a listing enters the market until it receives a ratified contract, fell nearly 17% with houses averaging a mere 59 days on the market in 2017 compared to 71 days in 2016. The vast majority of sales were of 3- and 4-bedroom single family homes with that segment making up nearly 82% of the total units sold.
2018 FAAR President Kevin McGrath notes that buyers are getting pickier. “When a home goes on the market, it needs to immediately present in the best light possible. Gone are the days of iPhone pictures taken from the car,” states McGrath. “As the Internet continues to be the top source from which buyers start their home search and new technologies make that experience more immersive, the need for buyers to physically visit many homes will diminish, so a great Internet presence becomes even more vital.”
December, a traditionally slow month in real estate, ended the year with a chill that coincided with the weather. The month saw $119,094,384 in total sold dollar volume, down nearly 6% from December of 2016. Median price posted the only notable year-over-year increase in the market, settling at $279,000 in December, representing a 3.35% increase. Units sold were down 4.5% from December of 2016, with 422 selling last year compared to 403 in December of 2017. The decrease in units sold impacted both attached and detached homes. Attached homes sold decreased by over 3% while detached homes sold decreased 4.7%.
McGrath found that his agents were busier than normal in December, but that the extreme lack of inventory hurt the market as some buyers weren’t finding what they were looking for in their price range. “We are also seeing that after a number of years of strong steady growth in average sales prices, sellers are less willing to come off of the list price, and less willing to make major home inspection repairs,” noted McGrath.
Inventory constraints continued to plague the market, especially in the lower priced brackets. The market experienced a significant 17% decrease in days on market for December of 2017 with houses taking an average of 63 days to sell, compared to 76 days in 2016. Active listings were down in December nearly 4% from last year, but new listings coming onto the market increased over 14%. There were also modest year-over-year increases in new homes sale pending that did not settle in December, indicating that January 2018 might get off to a good start.
McGrath states, “We are also seeing new trends in buyer “must haves” such as demanding high-speed Internet access as many more people start working from home.” Realtors® expect inventory to remain low and prices to heat up heading into the spring selling season. Competition will continue to be stiff in the lower priced market segments and new construction homes will continue to appeal to buyers with the means to build new who are not finding what they want in the existing housing stock.
Ombudsman Training offered at PWAR, March 1, 2018
Once trained in the process, an Ombudsman talks to the disputing parties in a transaction to resolve a situation before it becomes a formal complaint situation. Many times difficulties between individuals are a result of poor or lack of communication. The Ombudsman steps in to examine the core issues of the parties and facilitates a resolution. Sometimes the process fails and a formal complaint is filed with the Association, but very often a situation can be resolved using the program. If this facilitation process interests you, a certificate class is scheduled at the Prince William Association, March 1 from 10-3 pm. Contact Pat Breme, pbreme@faarmembers.com, if you are interested.
#MemberMonday | Meet REALTOR® Ginny Vickers
Ginny Vickers, SFR, ABR, MRP, SRS
Hometown
Buffalo, NY
Current Location
Stafford
Title
REALTOR® at 1st Choice Better Homes & Land
Number of Years in the Industry
8
Why do you love working in real estate?
Taking care of people. Having been an RN for many years, I was ready for a change. I enjoy making a difference for my clients and negotiating the best terms for them. It’s great to be a part of that and very satisfying.
Favorite Work Story
I had a buyer interested in one of my Listings. I showed him the home and he was very interested in it. I then explained that I don’t do dual agency and I would have to refer him to another agent who would help him purchase the home. After thinking about it overnight, he called and said he wanted to keep looking and didn’t want to lose me as his agent.
What are you most proud of in your career?
The 110% I give to all my clients and their welfare.
Do you have a special cause or volunteer your time?
Habitat for Humanity- always ready to help those who want to help themselves!
Fun Fact
Everything changes but stays the same.
Press Releases
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