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Roanoke Valley REALTOR®


 Roanoke Valley  Associathion of REALTORS



You are receiving this online newsletter as a benefit of being a member of the Roanoke Valley Association of REALTORS®.
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Member Type  Count



REALTOR®   1,106


Offices            124     


Affiliate           141


Click here to see which RVAR members have switched firms, gone inactive, or joined recently. 

Election Results for RVAR Board of Directors

Thank you to the 412 REALTORS® who voted in RVAR's recent election. Elected to the four open Director positions:
     Kathy Chandler (MKB, REALTORS)
     Fred Hall (Prudential Premier)
     Donna Marie Harris (Long & Foster, REALTORS)
     Adam Lynch (Prudential Waterfront)
Joining these newly elected Directors are those who have previously been elected to serve on the 2013 Board: President Betty Kingery; President-elect Donna Greer; Vice President Vic Coffey; Immediate Past President Melissa Morgan and Directors Bryan Musselwhite, Jeff Snyder and Richard Wimberley.

Installation and Awards Breakfast

Celebrate the successes of 2012 and welcome the 2013 leaders. Special awards will also be presented, including REALTOR® of the Year, Community Service Award and Distinguished Service Awards. This year's event will be held Thursday, December 13th at the Hotel Roanoke (8:30-10:30AM). Click here for more information and to register. Special thanks to our event sponsors: Platinum Sponsors Mountain to Lake Realty and Freedom First Mortgage; and Silver Sponsors Atlantic Bay Mortgage Group and HomeTown Mortgage.

RVAR Needs You

When you volunteer for one of RVAR's Committees, you serve not only your Association but yourself as well! Research shows that members who work on Association committees are:

1. Better informed (that's good for business)
2. Better networked (ditto)
3. Better prepared to act on trends and regulations impacting their business

Join a Committee and let RVAR help improve your business! Click here for how to volunteer, plus info on each RVAR Committee. Please submit your request by Wednesday, December 5th!

Brokers: Deadline Extended for Distinguished Service Award

The deadline for the Distinguished Service Award has been extended til Monday, November 26th. The Distinguished Service Award is presented each year by RVAR to those firms whose agents have demonstrated exceptional commitment to the Association through Committee service and attendance at RVAR classes and events.
Click here for the application form. Interested brokers may contact Jan Settle at RVAR to obtain firm attendance/Committee service records for the award period (November 1, 2011 through October 31, 2012.) The awards will be presented at the December 13th Installation and Awards Breakfast.

President's Message by Melissa Morgan

Remember when you were a brand new REALTOR®, wide-eyed, bushy-tailed, and full of hope for your new career?   One of my favorite duties as President is to speak with REALTORS® at New Member Orientation. Their positive outlook is infectious, and a reminder that our success, or lack thereof, is directly related to our attitude.   A positive attitude is one of the most important tools in our real estate tool belt, but certainly not the only one.   I always try to give them more tools by sharing a few "if I only knew then what I know now" lessons from the real estate school of hard knocks.

Besides a positive attitude, new agents need to know the importance of mastering our local sales statistics. They have just passed a real estate exam and know the definitions of "encumbrances" and "special warranty deed", but that exam prep vocabulary doesn't help them effectively counsel buyers and sellers in a recovering market. Now, more than ever, we need to know the numbers and be prepared with a 30 second elevator speech when asked, "How's the market?" Our local trends show that we are on the backside of the bottom, and consumers can feel the energy. As the missionaries for the housing recovery, it is imperative that we continue to preach the good news and help consumers analyze the improving data. Every month at this time, RVAR releases the previous month's sales statistics to the media and the public. You'll find those numbers on our website . Those statistics will give you a good snapshot of the previous month, and show you our month-over-month and year-over-year trends. Once you analyze the trends, you'll see the stage is being set for continued recovery. In order for prices to stabilize and increase, inventory levels need to fall and number of contracts need to increase. Look at the numbers, and you will see that happening in the Roanoke Valley. This could be the last winter for real estate investors to pick up properties on the clearance rack. Investors will continue to lead the recovery by depleting distressed inventory, and in turn improving the overall condition of our inventory by investing in much-needed renovations.

Certainly, a mastery of statistics will also help in our contract negotiations. The other bit of advice I give the new agents was the importance of being a "REALTOR's REALTOR®". Bi-partisanship is the buzzword of the times, and it certainly applies to real estate transactions. While we each represent one party in a transaction, a successful REALTOR® knows how to reach across the aisle and work with the other agent to get a win-win for both parties. As we veterans know all too well, deals are much harder to keep together these days. Now, more than ever, we all need to work together to keep this recovery going. Statistics show that most homebuyers move every five to seven years. You won't work with that client again for years, but you could work with that agent again in a few months. We are all in this together, to quote our past president, Joe Sutliff, so let's make sure we help each other up the steep hill of recovery.

Continued Housing Growth Predicted

Home sales in the greater Roanoke Valley remain strong. A comparison of October, 2012 with October, 2011 reflects a 21% increase in home sales and a 20% increase in the number of homes placed under contract.


On the National level, home sales volume and prices are poised to keep improving over the next two years, according to NAR Chief Economist Lawrence Yun, speaking at the recent NAR Convention. He expects the national median home price to rise 15% by 2015 as compared to today's level.

Contributing to the growth are the slowly improving economy, job creation and an increase in household formation after a hiatus during the downturn. Rising rental rates are also contributing, as renters who are able to get financing in today's tight credit market find it makes more financial sense to buy while home prices remain relatively affordable.

But inflation could pose a problem starting two years down the road, according to Yun. Although inflation has remained tame today -- at about 2% per year -- starting in 2015, it could jump to between 4 and 6% a year. That will be a short-term boon to home owners, as they enjoy an increase in price appreciation, but that would make home ownership harder for the growing number of renters today who aspire to buy. Not only would prices rise, but mortgage rates would go up as well.

In the near term, Yun predicts that mortgage interest rates will increase to an average of 4% in 2013 and 4.6% in 2014. 

Donations for Storm Victims

The REALTOR® Relief Foundation has already raised $1,275,000 for housing-related assistance to victims of Hurricane Sandy. That amount includes a $10,000 contribution from the Virginia Association of REALTORS® and a $500,000 contribution from the National Association of REALTORS®.

Founded shortly after the events of September 11, 2001, the Foundation is a 501(c)(3) nonprofit organization, administered by NAR. All donations received are used for housing-related expenses for the primary residence affected by disaster, such as rent, mortgage payments, costs for temporary shelter or costs to rebuild.

100% of donations are distributed directly to help those in need. NAR covers all of the overhead and administrative costs.

Click here for information on how to donate (online or by check.)

Do Not Attend Charity Ball Proceeds

Congratulations to RVAR's Community Service Committee for its creative approach to
fundraising again this year. The "Do Not Attend Charity Halloween Ball" raised $2,509. Thanks to sixty-seven contributors and 13 sponsors, the following donations have been made: Rescue Mission $1075; RVSPCA $450; Angels of Assisi $328; Bradley Free Clinic $328 and Salvation Army $328.

45 Days Left. Have You Met Your Ethics Deadline?

Are you one of the 301 members who have not yet taken Code of Ethics training? If so, then December 31st is your deadline.


NAR requires all REALTORS® to complete 3 hours of Code of Ethics training every four years. The current four-year cycle ends December 31, 2012.


What are your options?


Option 1: If you take your CE license renewal classes online, then you may very well have already taken the required training at some point in the last 4 years. If you take your online CE through any of the schools listed below, then all you need to do is fax (772-8058) or email your certificate to Susan Edwards. RVAR has already confirmed with each of these schools that the ethics portion of their CE training conforms to NAR's requirements.


        Moseley, Moseley-Flint, McKissock Education, Potomac Real Estate School,

        ICE, Alpha


NOTE: Moseley-Dickinson Academy of Real Estate shares its CE course rosters with RVAR. RVAR has already given credit to anyone who has taken an ethics CE class from this school.


Option 2: RVAR has scheduled one more ethics training class with John Dickinson on December 18th (9AM-Noon) at RVAR. This class not only fulfills NAR's requirement but also counts for 3 hours CE ethics credit.


Option 3: Any member can go to NAR's website and take the required training online for free (though no CE credit is provided.) NAR provides both a residential and a commercial version of this online class.

Dues Reminder

To date, 618 members have already paid their 2013 dues (which includes dues for RVAR, VAR and NAR.) The final date to pay 2013 dues is Monday, January 7th. Questions? Or need another copy of your dues bill? Contact Susan Edwards at the RVAR office.

Upcoming Education Offerings

Ethics Training: RVAR will offer ethics training on Tuesday, December 18th (9AM-Noon) with instructor John Dickinson. This class not only meets NAR's requirement for ethics training every 4 years but also provides 3 hours of CE credit for license renewal. The December 31st deadline is fast approaching -- so don't delay.


Fair Housing: Roanoke City's Fair Housing Board is offering a free Fair Housing Course open to all REALTORS® on December 6th, 1-4:30PM at the Jefferson Center Fitzpatrick Hall. (CE/PL 3 hours fair housing). Click here for more information or to register.

Upcoming Events and Deadlines 

November 22nd & 23rd

RVAR Office Closed for Thanksgiving

November 26th

Deadline for Distinguished Service Award submissions

November 29th

RVAR Volunteer Appreciation Party (4:30-7:00PM)

December 5th

Deadline for Submitting Volunteer Committee Requests

December 6th

Roanoke City Fair Housing

December 13th

Installation and Awards Breakfast (8:30-10:30AM)

December 18th

Ethics Training

December 24th & 25th

RVAR Office Closed for Christmas

December 31st & January 1st

RVAR Office Closed for New Years

January 7th

Final Deadline for Paying 2013 Dues


Roanoke Valley Association of REALTORS® 
 www.RVAR.com | (540) 772-0526 | Email