RVAR - The Roanoke Valley REALTOR Online

3/20/2014

Roanoke Valley REALTOR®

Online

Greetings!

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

Member Type | Count

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REALTOR® 1,067 Offices 122

Affiliate 158

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

Homeowner Flood Insurance Affordability Act Passed by Congress

On March 13, 2014, the United States Senate approved the Homeowner Flood Insurance Affordability Act, as previously approved and amended by the House. President Obama is expected to sign the bill into law when it arrives at the White House.

The new bill repeals the authority of the Federal Emergency Management Agency (FEMA) to increase premium rates at time of sale or new flood map, and refunds the excessive premiums to those who bought a property before FEMA warned them of the rate increase. The bill limits premium increases to 18% annually on newer properties and 25% for some older ones. Additionally, the bill adds a small assessment on policies until everyone is paying full cost for flood insurance.

Click here for NAR's 2-page brief on flood insurance premiums.

Generational Differences Drive Housing Preferences

Millenials, those under the age of 34, were the largest group of recent home buyers, according to the 2014 NAR Home Buyer and Seller Generational Trends study. Millenial home buyers had a median income of $73,600 and bought a 1,800 square-foot home costing about $180,000.

Younger home buyers tend to view their home as a strong investment, more so than older buyers who tend to view their homes as a match to their lifestyle, according to NAR's study.

Here are some of the "must-haves" for millenials:

Updated kitchen and bath: Young buyers seek updated kitchens and baths because they have limited budgets. Most of their savings goes toward the down payment and furnishings.
Big kitchen with open floor plan: An open space that can easily transition from kitchen to TV room is high on the list of the perfect home for your buyers.
Home office: Young buyers have more options than ever to work from home.
Technology: A home's appeal can be increased if it has a strong mobile carrier's signal or list of Internet service provider options.
Location: Young buyers look for properties that are in proximity to public transportation and have a good walkability score.

Give Your Clients a Lowe's Coupon

Did you know you can give your clients a free 10% coupon for Lowe's? It's part of an agreement NAR has with Lowe's (for the past nine years), which has just been extended.

The program lets you do three things:

Send your clients a coupon good for 10 % off a purchase at Lowe's;
Purchase and send Lowe's gift cards for 5% off the card amount; and
Subscribe your clients to Lowe's coupons and Lowe's "Creative Ideas for Home and Garden," print and e-mail magazine.

To sign up, you just need your NRDS ID - then head over to LowesRealtorBenefits.com. It's a great free REALTOR® benefit, and a nice way to help your clients with a few clicks of your mouse.

Helping others in our community is an important aspect to what we do. Join your fellow REALTORS® & Affiliates for Rebuilding Together, which is a national effort to rehabilitate homes on the last Saturday of April each year.

Sign up to help out on Saturday, April 26th as RVAR participates in rehabilitating a home for someone in our community. Help is needed to do general clean up, patching and painting, lawn and garden work, and some carpentry work. No matter what your skill level, we need your help! You can stay for part of the day or all day. Click here to complete the volunteer form. This charitable effort is organized by RVAR's Community Service Committee. Contact Joe Sutliff at the RVAR Office with any questions.

VAR Broker Day April 30th

VAR's Broker Day is a must for managing brokers who want to be sure their firm and agents are ready to face today's risk management issues. The day long event (9AM-3:30PM) will be held on April 30th at the Westin Hotel in Richmond. Cost to attend is $99 (cost increases after April 23rd.)

The session includes two presentations by keynote speaker Adorna Carroll, plus presentations by VAR attorneys related to social media, property management and payments to agents, plus networking opportunities. Click here for more information or to register.

NAR REALTOR® Expo in DC

NAR's Midyear Trade Expo will be held May 14th and 15th (10AM-6PM), at the Marriott Wardman Park Hotel in Washington, DC. The Expo features the latest in real estate products and services from over 100 industry-leading companies. There is something for every REALTOR®, such as lead generation systems, Internet prospecting solutions, virtual tour technology, financial services and more. Plan to stop by the show, talk with experts in the industry and find profitable ideas to gain an edge in today's market. Admission to the Expo is FREE for all REALTORS®. Click here for more information or to register.

And NAR's Annual Convention is in New Orleans November 7th-10th. Why not plan to treat yourself after a successful year! Mark your calendars. Details will be available from NAR soon.

Save The Date-REALTOR® After Hours at the Lake

Grab your flip flops and head to the Lake on Tuesday, May 6th from 5:00 until 7:00 at Bridgewater Bay Clubhouse for our REALTOR® After Hours! There will be great food, music, prizes, lively conversation and...assorted beverages!

Bring your REALTOR® friends -- heck, bring your whole office and join us at the Lake! More details and registration to follow!

Upcoming Education Offerings

Radon in VA Real Estate Transactions: The Virginia Department of Health will address everything you need to know about Radon -- from the basics to testing and mitigation. This class, Wednesday, March 26th, 10AM-12Noon, is FREE.
However, you can pay $10 at the door to receive 2 hours CE credit (Real Estate Related) or 2 hours PL credit (Current Industry Issues/Trends). Click here for more information or to register.

GRI 410: The Code of Ethics IS Good Business: Attend this course to learn why the Code is important for business success and how to practice the Code in your everyday business. This April 8th course is REQUIRED to earn the GRI designation and qualifies for 7 hours of CE credit or 3 hours of PL credit. Donna Austin will be the instructor. Click here for more information or to register. This course also satisfies NAR's Quadrennial Ethics Requirement.

GRI 411: Successful Settlement -- Managing the Transaction: Attend this course to obtain the tools for managing the transaction, including how to organize and communicate for the best possible closing results. This May 13th course is REQUIRED to earn the GRI designation and qualifies for 6 hours CE credit or 2 hours PL credit. Ann Palmateer will be the instructor. Click here for more information or to register.

Already earned your GRI? You may attend any GRI class for only $35. Great way to update your knowledge and earn CE. (No test required.)

Fair Housing: Roanoke City's Fair Housing Board is offering a free Fair Housing Course open to all REALTORS® on April 23rd, 8AM - Noon, at the Sheraton Roanoke Hotel. This course qualifies for CE/PL 3 hours fair housing. To register, contact: Lauren Mason with South East RCAP 540-345-1184 x125.

CRS 206 - Technology to Advance Your Business: The Central Virginia CRS Chapter is offering CRS 206 April 23rd and 24th at the Virginia Association of REALTORS® office in Glen Allen, VA. Click here for registration information.

Our REALTOR® Family

In Sympathy

RVAR expresses sympathy to Sheila Plyler of Watermark Realty LLC and Mike Pagans of Lake & Land Realty upon the recent death of their mother. RVAR also offers condolences to Joe Kraft of Park Place, REALTORS® upon the death of his father.

RVAR also expresses sympathy to the colleagues and friends of Affiliate member Jason Poland of Primary Residential Mortgage upon his recent death.

Let RVAR know if you have news to share.

UPCOMING EVENTS & DEADLINES

March 26th	Radon in VA Real Estate Transactions
April 8th	GRI 410
April 18th	RVAR Office closed for Good Friday
April 23rd	Roanoke City Fair Housing Seminar
April 26th	Rebuilding Together
May 6th	REALTOR® After Hours at the Lake
May 11th	GRI 411
May 14th & 15th	NAR Trade Expo, Washington, DC.

Your Member Input Is Important

Click here to offer your input or a suggestion for the Association.

Roanoke Valley Association of REALTORS®

www.RVAR.com | (540) 772-0526 | Email