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ROANOKE VALLEY REALTOR® Online
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Greetings!
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@ 1,1117 Offices 129 Affiliate 229 Click here to see which RVAR members have switched firms, gone inactive, or joined recently. |
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FTC and NAR Warn of Email Scam for Mortgage Closing Costs
The FTC and NAR have issued alerts focused on hackers who have been breaking into some consumers' and real estate professionals' email accounts to get information about upcoming real estate transactions. After figuring out the closing dates, the hacker sends an email to the buyer, posing as the real estate professional or title company. The bogus email says there has been a last minute change to the wiring instructions, and tells the buyer to wire closing costs to a different account. But it's the scammer's account. If the buyer takes the bait, their bank account could be cleared out in a matter of minutes. Often, that's money the buyer will never see again.
Click here for NAR guidance on how to protect yourself and your clients.
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Millennials Top All Home Buyers
For the third year in a row, millennials comprised the largest number of recent home buyers: millennials 35%, baby boomers 31%, generation X 26% and the silent generation 9%. NAR's recently released 2016 Home Buyer and Seller Generational Trends study reveals that younger buyers are shifting from seeking homes in urban city centers to the suburbs. ****
Rising rents were a major contributing factor for millennials who made the step to buy. Millennials were more likely to buy a foreclosure property than other buyers and 89% used the services of a real estate agent. ****
Overall, the typical seller was 54 years old and sold their home for a median of $40,000 more than they paid. The typical buyer was 44 years old and looked at 10 homes before finding the one they ended up buying. Sold homes were typically on the market for four weeks and sold for 98% of the final listing price.****
The typical home purchased was 1,900 square feet with 3 bedrooms and 2 bathrooms, built in 1991. The median home purchase price was $220,000.
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Candidates Endorsed in Roanoke City & Salem City Races
RVAR's Board of Directors has endorsed candidates in the upcoming elections for Roanoke City and Salem City Council races. Special thanks to RVAR's Governmental Affairs Committee and the members of the interview panels for their efforts to conduct interviews for these contested races. Roanoke has 6 candidates running for three seats and Salem has four candidates vying for three seats.
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The Board endorsed the following candidates:
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Roanoke City:
- Michelle Dykstra
- John Garland
- Anita Price
The Panel also interviewed and endorsed Roanoke City Mayoral candidate, Sherman Lea. Mr. Lea is running unopposed.
Candidates were asked the same questions related to economic development, top priorities facing the City, assets and challenges, and their vision for Roanoke.
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Salem City:
- Mark Hendrickson
- Jane Johnson
- Bill Jones
Candidates were asked the same questions related to Salem's priorities, Business Licenses tax rates, Roanoke College's continued growth, economic development and regional cooperation.
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The above listed, endorsed Council candidates will each receive a $1,000 RPAC contribution to their individual campaigns. Mr. Lea will receive a $500 RPAC contribution to his campaign, since he is running unopposed. If you live in either of these two Cities, please remember to vote on Tuesday, May 3rd!
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Advocacy @ Work is a regular article aimed at updating members on what is happening in our region regarding Economic Development and/or Governmental Affairs.
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This year's General Assembly session ended on March 12th and was a good session for the bills we were supporting in conjunction with the Virginia Association of REALTORS®. We had four VAR bills that passed the General Assembly.
- Home Inspector Licensing - a bill RVAR's Governmental Affairs Committee helped draft - has been signed by the Governor. This bill will require Home Inspectors to be licensed July 1, 2017. Home Inspectors that are certified through DPOR on June 30, 2017 will be grandfathered into the system.
- Agency & Licensing Law - another bill RVAR's Governmental Affairs Committee helped draft - has been signed by the Governor. This bill deletes the disclosure of brokerage obligation in commercial transactions.
- POA / COA Amendments - is awaiting the Governor's signature. This bill prohibits a POA/COA from charging a rental fee that is not expressly authorized. It also further defines the timeline for delivery and receipt of POA/COA disclosure documents.
- Housing Trust Fund - "Interpleader Bill" - is awaiting the Governor's signature. Allows the general district court, in an interpleader case involving an earnest money deposit held in escrow by a real estate broker, to escheat the funds to the Commonwealth to be credited to the Virginia Housing Trust Fund.
Once signed by the Governor, all legislation will become effective July 1, 2016, with the exception of home inspector licensure.
The Roanoke region has received some very good and exciting news over the last few weeks. There have been several big economic development announcements recently that will certainly have an impact on the entire region... and your business!
- Eldor, an Italian automotive parts manufacturer, has announced its first North American facility will be built in Botetourt. It will invest $75 million and create 350+ jobs.
- Deschutes Brewery has announced they will construct their first east coast brewery in Roanoke City investing $85 million and creating 105+ jobs.
- Virginia Tech Carilion Research Institute will receive $45 million through a bond package agreement reached in the eleventh hour of this year's General Assembly session to expand this important research facility and double the number of researchers at the Institute.
- Area Legislators (with support of many area business leaders, the health care community and local officials) worked to keep Catawba Hospital open.
- The Virginia Community College System also chose Botetourt for its centralized administrative services facility that will add as many as 200 jobs to the area.
Wow! Now that is some good news for the region! Feel free to share this news with others!
Article provided by Joe Sutliff, RVAR Director of Economic & Governmental Affairs.
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Community Service Day: Renovation Alliance
RVAR's next Community Service Day is being held on Saturday, April 23rd as we support Renovation Alliance (formerly Rebuilding Together), for their Community Renovation Day, a effort dedicated to rebuilding the homes of low-income homeowners across the Roanoke Valley. This year we will help rehabilitate a home in the Mountain View neighborhood of Roanoke by making interior repairs, installing some windows, repairing / installing flooring, doing some painting and carpentry work as well as general clean up, lawn and garden work.
Help make a difference in our community by donating just a few hours of your time to join your fellow REALTORS® & Affiliates for a worthwhile and rewarding day. Your help is needed no matter your skill level! You can stay for part of the day or all day and lunch will be served for all volunteers. Sign up to help out by clicking here to complete the volunteer form. This charitable effort is organized by RVAR's Community Service Committee and sponsored by our 2016 Partner / Sponsors. Contact Joe Sutliff at the RVAR Office with any questions.
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Tech Lunch & Learn Class: Making the FlexMLS Portal Work for You!
RVAR's Tech Committee continues its Lunch & Learn series on Wednesday,
April 27th with a FREE class focused on maximizing your use of the FlexMLS Portal.
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This 11AM-1PM "how to" session will be held at the RVAR office and will focus on creating and utilizing the FlexMLS portal, with plenty of "how to" tips provided.
Bring your lunch and laptop . . . RVAR will provide drinks, chips and cookies! Click here to register.
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Five O'Clock Hops in Roanoke
5 O'clock Hops returns for 2016! This is a fun event that is held occasionally at various breweries throughout the area! This is a great opportunity to network and socialize with other REALTORS® & Affiliates... and support our local breweries! Additional 5 O'clock Hops are scheduled for June and August.
Our first 5 O'clock Hops is in Roanoke, which will take place on
Thursday May 5th at Soaring Ridge Brewing Company, at (523 Shenandoah Ave, NW, Roanoke, VA 24016) from 5:00PM 'til 7:00PM. You are welcome to bring your significant other or friends!
No Registration Required for this event - just show up! And bring a friend!
Appetizers Provided!
Enjoy Soaring Ridge Brewery's beer selection!
Door Prizes for REALTORS® & Affiliates! Bring a business card!
This event is sponsored by our fabulous 2016 Partner/Sponsors. ******
Save The Date - REALTOR® After Hours at the Lake
Our first REALTOR® After Hours is scheduled for Tuesday, May 24th from 5:00 until 7:00! There will be great food, music, prizes, lively conversation and...assorted beverages!
Make plans to join your REALTOR® & Affiliate friends and enjoy a great evening at REALTOR® After Hours at the Lake! More details, with location, and registration to follow!
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NAR REALTOR® Expo in DC
NAR's Midyear Trade Expo will be held May 11th and 12th (10AM-6PM), at the Marriott Wardman Park Hotel in Washington, DC. The Expo features the latest in real estate products and services from 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 Orlando November 4th-7th. Why not plan to treat yourself after a successful year! Mark your calendars. Details will be available from NAR soon.
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VAR Spring Broker Day
Attention Brokers and Managers: Plan to attend VAR's Spring Broker Day -- earn Broker CE credit and network with brokers from across the state. This year's Spring Broker Day will be held Wednesday, April 20th 9AM-4PM at the Doubletree Hotel Hilton in Charlottesville. (A Broker Reception is scheduled for the evening of Tuesday, April 19th.)
Key topics scheduled:
- Straight Talk for the Managing Broker with Speaker Karel Murray (managing the process of recruiting, hiring and motivating agents)
- Knowing Your Risks: Email, Social Media and E&O Insurance
- Broker Pitfalls & Resources (approved for 2 hours Broker CE; approved for 2 hours Legal update with Flood)
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Upcoming Education
Code of Ethics -- This April 5th (9AM - Noon) class, taught by John Dickinson, not only provides 3 hours of CE credit for license renewal, but also meets NAR's ethics training requirement. NAR requires all REALTORS® to complete 3 hours of Code of Ethics training every four years. The current four-year cycle ends December 31, 2016. Click here to register. ( Can't make this class? RVAR will offer this class again on June 15th.)
Deal Shakers: Holding a Deal Together: Learn from experts on how to avoid and/or handle common 'deal shakers': Appraiser Jerry Helm, Home Inspector John Langan and Attorney David Bullington. This class on Tuesday, April 19th, 10AM-Noon is
Roanoke City Fair Housing Classes: Roanoke City's Fair Housing Board is offering
two free fair housing classes on Thursday, April 21st at the Jefferson Center, Fitzpatrick Hall. These classes are open to all REALTORS® and will provide CE credits. (NOTE: These classes do NOT qualify for PL credit.) The morning class, 9:00-Noon, is the City's semi-annual Fair Housing Seminar, taught by Mally Dryden-Mason from DPOR. The afternoon class, 1:00-4:30PM, is a new Assistance, Emotional Support and Companion Animals Seminar. This class will help landlords understand the laws when tenants request a reasonable accommodation to have an assistance, emotional support or companion animal. In order to register for the afternoon class, you must have previously attended a fair housing session.
To register, email Crystal Hypes with your name, which session you would like to attend (Animals, Fair Housing or Both), your email address and real estate license number. If registering for the afternoon seminar, you must also provide the date of your most recent fair housing training. Fair Housing -- RVAR's Education Committee presents this class in conjunction with the Moseley Dickinson Academy of Real Estate, Friday, May 6th, 10AM-Noon at the RVAR Office.
New members: This class is free -- earn 2 hours PL or CE credit.
Existing members: Pay $10 at the door for 2 hours CE credit.
Lender Panel: Managing Mortgage Madness -- Save the date for this Wednesday, May 18th (10AM - Noon) panel presentation at the RVAR Office. This session will cover a variety of topics including (1) pre-qualification vs. approval, (2) how to prepare your buyer for what the lender will need, (3) TRID issues and more. Registration will open soon.
More classes are coming!
Learn the nuts and bolts of 1031 Exchanges on June 16th, 10AM-Noon. This class is being offered in conjunction with Virginia Title Center. Details will be available soon.
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Our RVAR Family
Sympathy
RVAR expresses condolences to the friends, family and colleagues of REALTOR® Carolyn Evans of MKB, REALTORS® upon her recent passing.
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April 5th
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Code of Ethics Training
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April 19th
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Deal Shakers Panel
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April 23rd
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Community Service Day: Renovation Alliance
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April 27th
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Tech Lunch & Learn
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May 5th
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5 O'clock Hops
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May 6th
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Fair Housing
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May 18th
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Lender Panel: Managing Mortgage Madness
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May 24th
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REALTOR® After Hours at the Lake
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Roanoke Valley Association of REALTORS®
Proudly Recognizes Our 2016 Partner / Sponsors
Platinum Level Partner / Sponsor
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Diamond Level Partner / Sponsor
Lawrence Companies
Member One Federal Credit Union
Union Mortgage Group
Gold Level Partner / Sponsor
Acquisition Title & Settlement Agency, Inc
Allied Termite & Pest Control
BB&T Home Mortgage
Bill Meador Insurance Agency
Blue Eagle Credit Union
Bug Man Exterminating, Inc
Colonial Mortgage Co.
Consolidated Construction Services, Inc
First Choice Title & Settlement, LLC
Integrity Home Mortgage Corporation
Virginia Mountain Mortgage
Virginia Title Center, LLC
Virginia's All-American Movers
Silver Level Partner / Sponsor
Bank of Floyd
First Citizens Bank
HMS Home Warranty
HomeTown Mortgage
Seal-Tite Basement Waterproofing Co.
The Roanoke Times
THANK YOU!
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Roanoke Valley Association of REALTORS®
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