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FAAR Congratulates 2017 Parade of Homes Winners
The Fredericksburg Area Association of REALTORS® (FAAR) would like to congratulate 2017 Parade of Homes Realtors® Choice Award winners. Over 20 homes competed for the distinction of being “the best home for the value” as decided by a group of more than 20 Realtor® judges in the categories of active adult and single-family home.
The Realtors® Choice Award for Active Adult went to Foundation Homes, The Ashley in River Crossing. The Ashley has a low HOA fee, beautiful hardwood floors throughout the home, a gourmet kitchen, a great finished upper level, and many lovely upgrades for a price that delivered incredible value.
The Realtors® Choice Award for Single Family went to CalAtlantic Homes, The Washington at the Estates at Kingswood. The Washington truly checked every box that today’s buyer wants. The home has a gourmet kitchen with an open floor plan perfect for entertaining, flexible spaces that allow for maximum creativity and accommodation for a family’s needs, walk-in closets in every bedroom, a 3-car garage, a great Trex deck, and a beautifully finished basement. The clincher for this house was the price and value you receive from the builder. The price point for all of these features and incentives that would make any client drool really set this house apart.
FAAR added a new element this year with the “FAAR Fan Favorite”, an online vote from all of those Realtors® who got out to view homes on the Parade last week. The winner of the Fan Favorite was Halsey Homes, the Craftsman at The Oaks at Rocky Run.
All of the homes on the Parade will be open this coming weekend, October 7-8 from 10:00am to 4:00pm. For more information, visit www.fredparade.com.
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Illegally placing signs? It could cost you…
Placing for sale, for rent, or directional signs in the public right-of-way is illegal and always has been illegal. Stafford will begin cracking down on signs illegally placed in medians and on the side of the road, especially those that inhibit clear lines of sight along roadways. Read below for a recent article from the Free Lance Star.
Stafford to start fining for illegal signs
by Kristin Davis, The Free-Lance Star
Anyone who illegally plants a sign in a highway median or some other public right-of-way in Stafford County could earn a fine of $100 per offense. A crackdown beginning this weekend follows an abundance of complaints about illegal signs and makes good on an agreement with the Virginia Department of Transportation signed a year ago, said Jeff Harvey, director of Stafford Planning and Zoning. That agreement gives Stafford the authority to take down the signs in state-maintained right-of-ways and fine offenders.
County parks and recreation staff, often at risk to their own safety, have removed as many as 800 signs in a single weekend, according to county officials. The signs advertise everything from kitten sales to kitchen remodels and power washing services. Without a permit from VDOT, they’re illegal. The signs themselves can be dangerous, obscuring views of oncoming traffic. They also can be unsightly and turn into litter after a rainstorm, said Shannon Howell, a Stafford spokeswoman. Beginning this weekend, the county will take photos of the signs it removes and send out a fine notice to the person or business advertised on it. The notice will include a way to dispute the penalty.
Because the county can impose a fine for every sign, an offender who puts up 30 identical advertisements could face $3,000 in fines, plus additional costs, Howell said. The county encourages anyone who has put up signs illegally to take them down now and avoid fines altogether. “Hopefully, eventually, the problem will take care of itself,” Harvey said.
VDOT maintenance crews remove signs, too, usually ones people call about that create a traffic hazard, said spokeswoman Kelly Hannon. If the agency can identify who the sign belongs to, they’ll contact the owner and store it for safekeeping as long it has the space, she said. Any signs the county removes go to the landfill, Harvey said. In the past, Stafford has sent letters to companies and people who repeatedly put signs in rights-of-way. Rights-of-way include medians and, as a general rule, extend two feet behind a ditch line or behind a sidewalk, although distances can vary, Harvey said.
A proliferation of the advertisements led the county to take this latest step. The agreement with VDOT is similar to one struck with Spotsylvania County in 2012, Hannon said. Stafford urges anyone who wants to put a sign in a public right-of-way to contact VDOT for a permit or get permission from private property owners to erect signs there, although the latter could require a permit from the county.
Anyone with questions can call the Department of Planning and Zoning at 540/658-8668.
FAAR Members Meet with U.S. Congressman Rob Wittman
On Thursday, September 21, 2017 members from the Fredericksburg Area Association of Realtors® and the Prince William Association of Realtors® met with U.S. Congressman Rob Wittman to discuss flood insurance, tax reform, and infrastructure investment. Congressman Wittman voted against the most recent extension of the National Flood Insurance Program due to his long-standing opposition to continuing resolutions, which maintain the status quo and allow for no growth or changes in military spending. The flood insurance reauthorization was tied to a Continuing Resolution to fund the government which also included an increase in the debt ceiling but no discourse on how to tackle that issue. Congressman Wittman says he understands the importance of a functioning flood insurance program, but that there will definitely be upward pressure on the cost of premiums considering the massive sums of money that will need to be paid out due to Hurricanes Harvey, Irma and now Maria.
Congressman Wittman also spoke at length about tax reform and how critical it is the we simplify the U.S. tax code to make it easier for individuals to understand and more attractive for businesses. He said that big companies pay almost nothing, while small businesses often pay the individual rates that are north of 30%. He wants to see the profits of U.S. companies that are currently stranded abroad, come back to the U.S. under a much lower tax structure and see that money dedicated to infrastructure. He believes that when we see a tax reform bill, it will protect Mortgage Interest Deduction, the charitable giving deduction, and the dependent deduction. NAR is closely watching anything having to do with tax reform and advocating for preservation of the Mortgage Interest Deduction.
FAAR member Lisa Frensley talks tax reform with Congressman Wittman
Congressman Rob Wittman listens to concerns from FAAR and PWAR members
Congressman Wittman poses with members from FAAR and PWAR
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FAAR Races for RPAC!
On Saturday, September 16, 2017, FAAR members gathered at Dominion Raceway for a night of racing, music, food, beverages, and fun! Attendees also got to watch one of their own when Alcova Mortgage’s Barry Moore raced #7 in the 3rd heat of the night.
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- There goes Barry!
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- FAAR members watch some racing…
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- Dominion Raceway
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- FAAR members gather for a photo on race night
Congrats to the 2018 FAAR Leadership Team!
Congratulations to the newly elected 2018 Leadership Team!!
President Kevin McGrath- Long & Foster, Inc.
President-Elect Drew Fristoe, Coldwell Banker Elite, Massaponax
Vice President Arlene Mason, Coldwell Banker Elite, Fredericksburg
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
Pam Kuper, Century 21 New Millennium
Clay Murray, Coldwell Banker Elite, Spotsylvania
Sandy Pearce, Coldwell Banker Elite, Spotsylvania
Phillip Blake, MBH Settlement Group- 1st Affiliate elected to the Board
Continuing from the 2017 Team
Chip Taylor, Century 21 Battlefield
Laura Fangman, Nest Realty
Ben Keddie, CCIM, Coldwell Banker Elite Commercial
August Posts a Strong End to the Summer Selling Season
August rounded out the summer market with a strong showing, posting gains in volume of sales, median sold price, and units sold and seeing yet another year-over-year decrease in days on market. Total sold dollar volume was up over 6% over August of last year coming in at $177,669,921. Median price was $295,000 for August of 2017, increasing 5.36% over the $280,000 mark in August of 2016. There were 7 more units sold in August of this year than compared to 2016, coming in at 567 versus 560, representing a modest 1.25% increase. “The market continued strong through the summer and didn’t experience the typical slump that comes with vacations and back to school activities,” commented FAAR Board of Director Sandy Pearce.
Days on market, the amount of time it takes from when a listing enters the market until it has a ratified contract, decreased nearly 25%, going from 65 days in August of 2016 to just 49 days in August of 2017. Inventory continues to be a challenge in our market with yet another month of fewer listings than the previous year. August of 2016 saw 1,763 active listings on the market and August of 2017 had 2.5% less at 1,719. At the current time, there is a 3.54-month supply of available homes, which remains virtually unchanged from July of 2017. A healthy market generally has about a 5-month supply of homes.
A bright spot on the inventory side was the significant increase in new listings coming on to the market. August of 2017 saw a 16.14% increase in new listings, adding 878 new homes compared to 756 in August of 2016. “Inventory remains low but there seems to be a steady stream of listings coming on the market which is good news for buyers who aren’t facing a time crunch,” continued Pearce. “Homes that are priced well and in move-in condition are going under contract very quickly. With interest rates remaining low, it could be an active fall for both buyers and sellers.”
FAAR Announces Endorsements for 2017 State and Local Elections
The Fredericksburg Area Association of REALTORS® (FAAR) announces endorsements for local Board of Supervisors and General Assembly races on the ballot for the November 7th general election. The endorsed candidates represent areas throughout FAAR’s service area of the counties of King George, Caroline, Stafford and Spotsylvania, and the City of Fredericksburg.
“As active members of our local communities, REALTORS® have a strong interest in this year’s elections. I am pleased with the impressive slate of candidates that FAAR has endorsed this year. These individuals will contribute much to our local communities by promoting economic development and protecting homeowners’ rights,” stated FAAR’s 2017 Public Policy Committee Vice Chair Robert Cooper. “FAAR strongly supports each of the candidates endorsed for public office and looks forward to working with these individuals either in Richmond or at the local Board of Supervisors. The real estate industry is an integral part of our local economy and it is vital that REALTORS® help elect candidates who understand those connections and are willing to work with us on issues of importance.”
FAAR has endorsed the following candidates:
General Assembly
Bob Thomas (R-House-28th)
Bobby Orrock (R-House-54th)
Mark Cole (R-House-88th)
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)
3-Month Extension of NFIP expected to be signed into law tonight
You answered the call! NAR is concluding the Call for Action to reauthorize the National Flood Insurance Program in light of recent actions by the U.S. Congress. The Senate passed a bill on Thursday with the House expected to follow suit on Friday to extend the program for three months. The President is expected to sign the bill into law. NAR will continue to advocate for a long-term reauthorization.
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