What Company Do You Work For?

Invariably, the very FIRST question I am always asked when I mention to someone that I am a Realtor is, "What company do you work for?"

My answer goes something like this:

• I don't work for "them", I split my commissions with and I pay my broker; my broker does not split his commissions with me and he does not pay me - I PAY HIM!  I am not an "employee" of the company, but am an independent contractor and sole proprietor. Unlike any other licensed profession (doctor, lawyer, CPA, Translator/Interpreter, etc) the real estate industry was set up whereby a real estate licensee or agent must be tethered to or affiliated with a broker and cannot operate independently, even though the licensee or agent is already licensed and meets all the safeguards and protections to the public that are required by a Department of Professional & Occupational Regulation.  

• The real estate broker company that I am affiliated with is not the one who is either going to be driving you around looking at houses if you're a buyer and writing the sales contract for you. The "company" is not the one who will be listing your home for sale if you are the seller.  The "company" is not going to come and take the pictures of your home, put up a for sale sign and a lockbox, tell you what the market value of your home is by conducting a Comprehensive Market Analysis (CMA) or "comps", and handling every aspect of your transaction all the way through closing.   The "logo" or the "brand" is not going to do all that.... I AM.

• What "flag" I fly under is completely irrelevant really. There is some minor value in the company name or logo; but the real value is MY expertise, knowledge and experience in the local market.   

• Now, lets talk about MY experience and MY professional background and why MY unique talents and skills make ME, the Realtor of Choice...  (regardless what name or logo is on my business card)

I fully understand why "brand" or "branding" matters, however.  A company's brand or logo is very important when it comes to tangible products like automobiles, watches, clothing, restaurants, etc because the consumer learns to associate those brands, logos or trademarks with a quality product. Conversely, the consumer or the public will also stay away from a certain brand or logo based on either actual, objective and empirical knowledge, or first hand experience with a product or company; or based on their own subjective perception of brand quality.

But how does "brand" or "branding" work with something intangible like a professional service?  

A Realtor is providing a professional SERVICE to you.  THAT is the "product" that you are actually consuming. 

The product is ME and MY services, and NOT those of the real estate broker franchise. People use me as a Realtor for and because of ME and MY services, and not for the services of the real estate broker franchise. 

What makes illogical sense is for a consumer to base their decision solely on what company name or logo is on a Realtor's business card. Furthermore, the real estate broker franchise name and logo on my card is NOT MY OWN but is someone Else's "brand" or logo. So, why should choosing ME be based on someone Else's brand or logo?!  

As Mr. Spok from Star Trek would say, "that's highly illogical"

Middle Class Homebuyers Getting Priced Out of the Market

Here is a good article below which describes the plight of affordable housing for even the middle class, let alone those who are marginalized.  This article reminds me of a news story in Fairfax County, Virginia a few years back when then Fairfax County District Superior Sharon Bullova headed up a task force on "boarding houses" particularly in the Springfield area and was obviously also "profiling" or targeting Hispanics.  While this is a valid zoning issue - why didn't Supervisor Bullova tackle the underlying problem of affordable housing instead ??!!  Treat the cause... not the symptoms Mrs. Bullova!!  (She does not have a college education or degree by the way)

The National Low Income Housing Coalition (NLIHC) publishes some great reports which breaks down what the "hourly housing wage" is in their "Out of Reach" reports. 

In Virginia, the Fair Market Rent (FMR) for a two-bedroom apartment is $1,078. In order to afford this level of rent and utilities – without paying more than 30% of income on housing – a household must earn $3,592 monthly or $43,108 annually. Assuming a 40-hour work week, 52 weeks per year, this level of income translates into a Housing Wage of $20.72.

In Virginia, a minimum wage worker earns an hourly wage of $7.25. In order to afford the FMR for a two-bedroom apartment, a minimum wage earner must work 114 hours per week, 52 weeks per year. Or a household must include 2.9 minimum wage earners working 40 hours per week year-round in order to make the two-bedroom FMR affordable.

In Virginia, the estimated mean (average) wage for a renter is $15.79. In order to afford the FMR for a two-bedroom apartment at this wage, a renter must work 52 hours per week, 52 weeks per year. Or, working 40 hours per week year-round, a household must include 1.3 workers earning the mean renter wage in order to make the two bedroom FMR affordable.

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Middle-Class Buyers Getting Edged Out?

Daily Real Estate News | Sunday, October 13, 2013

Middle-class home buyers are struggling to find enough affordable homes on the market as rising prices, higher interest rates, and flat incomes limit their choices.

More than half of homes for sale this month in 14 of the 100 largest metros were out of reach for middle-class home buyers, according to a new study by Trulia. The real estate company based affordability rates on a monthly payment — after a 20 percent down payment as well as taxes and insurance costs — that was less than 31 percent of the metro area’s median household income.

The number of affordable homes for middle-class buyers has decreased or stayed flat in 99 metros since October 2012, Trulia found. Rochester, N.Y., was the only metro to see a gain.

Places like Orange County, Calif., have seen the worst tightening of affordable inventory for middle-class buyers. In 2012, 44 percent of homes there were affordable to the middle class; that has fallen to 23 percent this year.

A big drop in foreclosures and lower-priced homes is a major catalyst of the shift. The percentage of existing home sales nationwide that were distressed properties selling at discounts has fallen from 23 percent last year to 12 percent as of August, according to the National Association of REALTORS®.

Though housing affordability for the middle class appears to be the most problematic in California, other metros are also seeing affordability lessen by big margins. In Boston, middle-class buyers now can afford 41 percent of homes on the market, down from 53 percent last year. In Denver, the percentage has fallen from 70 percent to 55 percent. Seattle has gone from 66 percent to 55 percent

The following are the markets with the least number of affordable homes for the middle class, according to Trulia’s study:

1. San Francisco
   Percentage of homes affordable to middle class: 14.2%
   Maximum affordable home price: $409,000
2. Orange County, Calif.
   Percentage of homes affordable to middle class: 23.1%
   Maximum affordable home price: $373,000
3. Los Angeles
   Percentage of homes affordable to middle class: 24%
   Maximum affordable home price: $271,000
4. New York
   Percentage of homes affordable to middle class: 25.3%
   Maximum affordable home price: $274,000
5. San Diego
   Percentage of homes affordable to middle class: 28.4%
   Maximum affordable home price: $309,000

Despite the drops, overall housing affordability nationwide still remains high historically. In 40 of the 100 metro areas, 70 percent or more of the homes remained within reach to middle-class buyers. Also, home prices remain 5 percent undervalued based on long-term price, income, and rent levels, Jed Kolko, Trulia’s chief economist, told USA Today.

Did Someone Die in This House?

Here's an interesting article below worth considering. Perhaps this should be added to "SOP" (Standard Operating Procedure) "due diligence" on the part of a buyer agent, or settlement company? Perhaps there should be an "Contract Addendum Disclosusre" added to the regional sales contract.  The prospective buyer could be given a 3 day right of rescission under the contract contingencies addendum for "ghosts" or other paranormal activity in the home!  LOL  

A text in the night put Roy Condrey on the trail of the dead.

"Did you know that your house is haunted?" read the letters glowing on his screen. It wasn't a message from beyond, but rather came from one of the tenants in the properties he rents out to supplement his income as a software project manager.

But the text got him pondering: Even if you suspected you had a paranormal force inhabiting your home, how could you tell if someone died in it?

Thus was Diedinhouse.com born. The site cross references between public records and other databases to find who used to live in a particular U.S. address, whether they're alive or not, and if they died while in the house. It can tell prospective homebuyers information the seller isn't obligated to disclose, which can sometimes lower a house's final price.

The night the idea was germinating, Condrey sat in front of the computer and began searching for answers. He discovered it's not that easy to electronically dig up a body under your roof.

From one source he could get a list of everyone who lived in the house. Then he had to check each name against another list to see if they were alive. Other databases and searches could turn up clues as to whether their death happened at the address itself. Few states require sellers to disclose if anyone died in the home, even if it was a murder-suicide that everyone else in the neighborhood knows about.

By and large, it's let the buyer beware ... of ghosts. 

In that informational void Condrey saw opportunity. He grabbed a few programmer pals, and in June of this year his wesbite was spawned. In the first five months, it sold a few thousand reports for $11.99 per U.S. address searched. A few Halloween-minded media mentions later and it's now selling a thousand per day.

Diedinhouse.com

A sample Diedinhouse report showing the house where the late Nirvana frontman Kurt Cobain lived and took his life.

"I can't confirm or deny ghosts," said Condrey. "I want to know if I'm moving into Andrea Yates' house where she drowned five children in the bathtub."

It's like a Carfax for haunted houses.

Besides the curious and those in the spooky spirit, the site is also getting traction among ghost hunters.

Leslie Self, 36, a caregiver and pro bono paranormal investigator in Craig, Colo., has used a Diedinhouse report for six of his recent clients.

In one case, a couple was bedeviled by knocking sounds in the night in the home the woman inherited from her grandmother. Self ran a search on Diedinhouse and didn't find any evidence the grandmother had died in the house. After descending into the basement, he discovered the ghastly noises in the night came from the water heater kicking on.

Not only does it give the dwellers the creeps, the specter of a specter hanging over a house can have a very real-world impact.

A "psychologically impacted" house, such as one that is reportedly haunted, can sell for 3 percent less and take an average of 45 percent longer to sell than other properties, according to a 2001 study published in the peer-reviewed Journal of Real Estate Research.

In 2010, after its owner was shot and killed in his bedroom by an intruder, a Maryland home sold for $200,000 below asking price. 

And in 2007, a woman moving from California with her two kids after her husband died bought a home in Thornton, Pa., for $650,000, only to learn from a neighbor that there had been a murder-suicide in the house. According to her lawsuit against the sellers, which asked to have the transaction rescinded, they had bought the house below market value at $450,000 and then flipped it for comps. 

Though they knew of the house's bloody past, the suit alleged, they kept it hidden from the buyer, whose children learned about it while trick-or-treating on Halloween. 

Standard contract law holds that sellers are responsible for any "material" defects to a good or service they're representing, but the laws of more than 20 states don't consider tragic events such as a murder-suicide to impact the building structure.

"Material is the key word," said Mary Pope-Handy, a real estate agent who sells houses in Silicon Valley and who publishes stories on her Haunted Real Estate Blog. "In Oregon they only consider material anything that impacts the physical structure. In California, it's anything that impacts the sense of a property's value and can include intangible things like school issues and pollution."

While acknowledging the site's novelty appeal, the Diedinhouse.com founder also sees it as a force for consumer protection.

"The disclosure laws say you have to tell someone about a water leak or aging roof," he said. "A water leak can be repaired; you can't reverse a violent death."

Northern Virginia Real Estate Market Forecast - Economic Summit

This is a great annual event to attend.  The George Mason University Center for Regional Analysis does a wonderful job of pulling together various stakeholders and industry leaders to present a comprehensive analysis and report on the landscape and forecast of the local Northern Virginia (and national) real estate market. 
  
 

What Exactly is a "REALTOR" ? Why is this name Trademarked?

Actually this is very STUPID !! Why should an organization (such as the National Association of Realtors) create a moniker like "REALTOR" that only means "member" and also be responsible for proliferating the ambiguity of the term or moniker for the general public and consumer of real estate services??!!  

Why not just simply say that a "REALTOR" is a licensed real estate professional (who also happens to be a member of an association of other licensed real estate professionals) ?!  Or just simply say "MEMBER".  Why create your own ambiguity?!  

If 99% of the population views or thinks that a "REALTOR" is a licensed real estate professional -  why not just leave it that way?! 

This would be like saying that the word "LAWYER®" does not mean someone who is licensed to practice law, but rather only means "member" (of a bar association).    

Real Estate Scams - Foreign "Purchaser" Wants to Buy U.S. Property

Here is an advisory on a scam involving "foreign investors" or "buyers" of real property in America.

Tip 30-2013: Real Estate Scam

Tucker's Tip has learned of a new scam that is targeting real estate lawyers and title companies. A potential buyer, typically from outside the United States, contacts a well-known real estate agent and communicates his desire to purchase a parcel of real property. The agent, in turn, speaks to a real estate lawyer or title company and requests that the deposit money (in the form of a cashier's check drawn on a well-known financial institution) be placed into the lawyer or title company's escrow account.

The agent, who has a good working relationship with the lawyer or title company, urges the lawyer or title company to begin work immediately on the purchase. Then, the agent learns that the potential buyer cannot complete the transaction for a credible sounding reason, like the death of a purchaser. The potential buyer or his heir immediately requests a return of the funds submitted only a few days before.

Here's the scam -- the lawyer or the title company returns the funds without waiting for the original deposit to "officially" clear, only to discover later that the original cashier's check was a fake. Those who have been victims of this type of scam have had to pay a significant amount of money to remedy the deficiencies in their trust accounts.

Realtors, Real Estate Lawyers, and Title Companies need to be aware of any such scam. Banks are required by law to make funds available within certain proscribed time limits. Yet, although bank personnel might confirm that a check has "cleared" locally, that does not necessarily mean that the funds have been fully reconciled.

MORAL OF THE STORY: Never return any escrow funds until you are certain that the funds have actually "cleared."

Same-Sex or Gay Marriages & Real Estate Property Rights

Here is a great article offering some elucidation on the subject of same sex or gay marriages and real estate property rights and Federal benefits and tax consequences for gay couples buying or owning property together; or acquiring property through inheritance.

Article from the National Association of Realtors

Same-Sex Marriage Ruling: What it Means for Real Estate

While property rights are generally a state issue, the federal recognition of marriage for gay couples will have a significant impact on home owners.

July 2013 | By Wendy Cole

 

 

 

Married same-sex couples in 13 states and the District of Columbia are now or will soon be eligible for more than 1,100 federal benefits and protections denied under the Clinton-era Defense of Marriage Act. A key provision of the federal law, which withheld benefits from gay couples who had been lawfully married in those states that permit it, was struck down last week by the Supreme Court. And though property rights are set at the state level, the ruling has bearing on a number of real estate–related matters that involve federal law.

The ruling may influence how couples decide to hold title on a property. It will affect the calculation of estate taxes owed when a spouse dies and how much capital gain is exempt from taxes in the sale of a home that is owned in the name of only one member of the couple.

For real estate practitioners, “understanding the status of [your clients’] relationship is critical if you are in a jurisdiction that recognizes marriage” for gay couples, says Los Angeles attorney Wendy E. Hartmann, who specializes in tax and estate planning for same-sex couples. Practitioners should, however, encourage couples to obtain legal advice on such title and tax matters from an attorney, she noted.

Before the court decision, gay couples did not have the option to hold title through “tenancy by the entirety,” which is available only to legally married home owners. Like joint tenancy, this form of ownership means each spouse owns 100 percent of the property and an equal right to possess the home, and provides that when one spouse dies, the surviving spouse automatically becomes the property’s sole owner. Unlike joint tenancy, however, under tenancy by the entirety the home is more fully protected from creditors.

Hartmann cautions that before spouses rush to change the form of title through which a home is owned, it’s important for them to consider that when a home is sold, the $500,000 capital gains exemption will be available to gay married couples when they file federal taxes jointly, even if the deed remains only in one spouse’s name.

“There may be good reasons that a spouse who owned a property at the start of a relationship may not wish to add his or her spouse to the deed. But under the ruling, they are still eligible for the $500,000 exclusion if they file their federal taxes jointly,” she says.

Under the federal tax code’s “unlimited marital deduction,” which addresses the transfer of property to the surviving spouse when one spouse dies or when a marriage is dissolved, married gay couples will see a significant effect because those transfers will “no longer trigger a gift tax consequence,” Hartmann says. By comparison, couples who live in states where their relationships are recognized as civil unions or domestic partnerships—but not marriage—are not afforded that benefit.   

While the dismantling of DOMA provides clear-cut benefits for married gay couples who reside in the states they were married in, it creates significant ambiguities in other situations. For example, the immediate future is murky for partners who were legally married in one state but move to a state that does not recognize their union. For now, these people are caught in a confusing tangle of laws.

In Minnesota, where marriage for same-sex couples will become legal on August 1, the Minneapolis Association of REALTORS® is eagerly anticipating the near simultaneous federal recognition. “The laws that are based on marriage will now be fully applied to people the same way whether they are part of a same-sex couple or a heterosexual couple, “ says MAR public affairs director Julia Parenteau. She has identified 110 Minnesota statutes that explicitly apply to marital status and housing. Before now, “we’ve been telling members that if they’ve been selling property to same-sex couples and addressing their issues the same way as they do straight couples, they’re doing it wrong,” says Parenteau. “Now that the federal law will come into play, this will makes the lives of agents a whole lot easier in that they don’t have to worry about more than 100 laws”  that take into account marital status.

The DOMA ruling is also expected to increase the pressure on states where marriage equality has been on the legislative agenda but has not yet been approved, including Illinois, New Jersey, and Hawaii. “The inequality among the states will become more visible and obvious when some people can claim federal benefits and others cannot,” says Jennifer Pizer, director of the Law and Policy Project at Lambda Legal, a nonprofit organization working for the civil rights of lesbians and gays. “Equal treatment would be in their grasp except for the discriminatory state laws that keep it from occurring.”

And with the federal government obligated to make federal marriage-based benefits available, Hartmann notes, states that don’t offer the right to marry could see an exodus of gay people, while “states where marriage is available [for gays] could see an influx in their population.”

The Supreme Court last week also cleared the way for the reinstatement of marriage rights for gay couples in California, ruling that the supporters of Proposition 8, the ballot measure that invalidated same-sex marriage in the state, did not have legal standing to appeal a ruling holding Proposition 8 unconstitutional. When California residents are added to the mix, according to Lambda, approximately 30 percent of Americans will live in states permitting same-sex marriage.
 

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What is RPR (Realtors Property Resource)

What is RPR®?

Comprehensive data, powerful analytics, and dynamic reports for each of NAR's constituencies

100% 0wned by REALTORS®

Created by NAR for the sole purpose of providing REALTORS® with the data they need to meet the demands of their clients.

There are no third party investors or silent partners.

Only available to REALTORS®

No third party or public access…guaranteed. The only way a non-REALTOR® has access to the data in RPR is through an RPR report that has been created, branded and sent by a REALTOR®.

No Cost Member Benefit

Included in yearly NAR dues, RPR does not cost REALTORS® any extra money. Period. Available to all REALTORS® across the country, RPR also has tools for Brokers, Commercial, Appraisers, Associations and MLS.

2013 New Virginia Laws (Effective July 1, 2013)

These are the new 2013 laws in Virginia affecting real estate.  New laws in Virginia generally go into effect on July 1st (the start of the new fiscal year period).

2013 New Virginia Laws 

(effective July 1, 2013 unless stated otherwise)

R® designates Realtor®-sponsored legislation!

Licensing and Regulation

R® HB 1480 (Farrell), Fair Housing Violations: The Virginia Real Estate Board will hear Fair Housing cases involving both licensed and unlicensed respondents. In no event shall the jurisdiction for the same case be split between the Real Estate Board and the Fair Housing Board.

HB 1641 (Knight)/SB 1179 (Ruff), DPOR Investigations: DPOR boards shall provide regulants a notice advising of the right to be heard at an informal fact-finding conference prior to any disciplinary decision. If the regulant does not request a conference within 30 days of receipt of the notice, the board may issue a case decision.

R® HB 2073 (Yancey), False Advertising: Licensed real estate brokers or salespersons shall not be liable for false advertising when relying on public records or information from a third party. This includes any civil action or regulatory action brought under the real estate licensing laws.


Property Disclosure and Transfer

HB 1507 (Lewis), Recording Deeds: The circuit court clerk may reject the filing or recording of deeds conveying not more than four residential dwelling units if the deed does not state on its first page that it was prepared either by the owner of the property or by a Virginia-licensed attorney.

HB 1521 (Villanueva), Tourism Activity Zones: Localities may designate tourism activity zones on their zoning maps. Owners of residential property may disclose in writing to any prospective purchaser or lessee of the property that the subject property is located within a tourism activity zone and its potential impacts on the property.

R® HB 1615 (Gilbert), Methamphetamine Laboratory Disclosure: Beginning July 1, 2014, residential property owners and landlords who have actual knowledge that the property was previously used to manufacture methamphetamine and has not been cleaned up in accordance with the Department of Health guidelines  will provide a written disclosure when selling or renting the property. Tenants may terminate the tenancy if the required disclosure is not provided.

HB 1861 (Rust), Notice of Property Sale: Both localities and common interest communities, if applicable, shall receive a notice within 60 days following the sale of a residential property under a deed of trust.

HB 2305 (Ramadan), Solar Panels Disclosure: This bill adds to VREB’s online list of seller's representations to prospective purchasers that the seller makes no representations on the right to install or use solar energy collection devices on the property.

SB 1093 (Hanger), Property Transfer on Death: The legislation authorizes the creation of a transfer on death deed, which upon death passes title directly to named beneficiaries without incurring recordation taxes.


Landlord-Tenant

HB 1425 (Greason), Tenant's Remedies: Provides that a tenant may obtain an order from general district court requiring the landlord to resume unlawfully interrupted utility services.

R® HB 1509 (Habeeb), Failed Electronic Payments: Provides that if an electronic rent payment is rejected because of insufficient funds or because of a stop-payment order placed in bad faith, landlords may take the same civil action as they would to recover a bad check. The bill also allows a plaintiff's attorney or agent to present affidavits in court proceedings listing outstanding rent, fees, and damages owed to the plaintiff, and receive a judgment if the defendant does not appear.

HB 1553 (Loupassi), Affordable Housing Tax Assessment:  The owners of multiple affordable units with common expenses may make a pro rata apportionment of such expenses to each unit based on each unit's assessed value, whether they are in a single or multiple tax parcels.

R® HB 1734 (Loupassi), Virginia Residential Landlord and Tenant Act: This legislation makes several changes and technical edits, including:

• Unless otherwise agreed to in writing by each of the tenants on a multi-tenant lease, disposition of the security deposit shall be made with one check being payable to all such tenants and sent to the forwarding address provided.
• If the tenants do not provide a forwarding address for security deposit refunds, the deposit balance shall be paid into the state treasury after 1 year and 45 days. 
• Allows month to month tenancies for a single family residence to agree to notice of termination periods other than thirty days. 
• Permits landlords to charge refundable application deposits and separate non-refundable application fees.
• Sets the 2012 and 2013 security deposit interest rates at 0%.
• Clarifies that unlawful detainer tenant redemption remedies may be used only once in a 12 month period, regardless of any lease renewals or the length of the lease agreement.
• States that during an eviction, landlords may remove tenants’ personal property from the dwelling, the premises and any on-site storage areas.

R® HB 1736 (Farrell), Escrow of Rents: Prepaid rent paid more than one month prior to the due date and all security deposits shall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in the lease transaction. Application deposits shall be placed in escrow by the end of the fifth business banking day following approval of the rental application. Funds must remain in the escrow account until disbursed in accordance with the lease, property management agreement or by law.

HB 1749 (Dance)/SB 1013 (Locke), Lodging Occupants: If a person resides in hotel, motel, boardinghouse or extended stay lodging as a primary residence for more than 90 consecutive days or is subject to a written lease for more than 90 days, then landlord and tenant laws or the Virginia Residential Landlord Tenant Act apply to the occupancy.

HB 2059 (McClellan)/SB 932 (Vogel), Housing Choice Vouchers: Income tax credits issued each fiscal year under the Housing Choice Voucher program (formerly "Section 8") are reduced from $450,000 to $250,000.

HB 2236 (Pogge), Tax Exemption for Labor or Services: Amounts separately charged for installation, remodeling or renovation of a rental property are exempt from sales and use taxes.

R® SB 841 (Lucas), Residential Occupancy Standards: An owner or managing agent may restrict unit occupancy to two persons per bedroom, according to applicable state and federal laws and regulations.

SB 894 (Petersen), Tenant Violations: Local enforcement officers may cite a residential tenant for building code violations and send a copy of the notice to the property owner.

SB 1004 (Howell), Early Lease Termination: Victims of domestic abuse or sexual assault may terminate a rental agreement with at least 30 days’ notice. The landlord shall be provided a copy of the court-issued conviction or protective order, and no more than two terminations shall be granted under a single conviction. Other co-tenants shall be responsible for their lease obligations. Landlords may terminate the lease and recover damages should the sole remaining tenant be the perpetrator of the crime.


Condos and POAs

HB 1595 (Watts), Late Fees: Unless the association’s governing documents or rules and regulations provide otherwise, a condo or POA may impose a late fee for any assessment that is not paid within 60 days of the due date at a rate not to exceed five percent.

HB 1711 (Plum), Notice of Special Election Meeting: In the event that the annual meeting for electing the board of directors is cancelled, residents shall be given a seven day notice of the rescheduled meeting.

R® HB 1807 (Miller), Resale Disclosure of Federal Financing: Association resale disclosure packets shall include a statement indicating any current project approvals issued by federal financing agencies.

HB 2200 (Webert), Home-Based Businesses: Unless the declaration or rules and regulations provide otherwise, no POA shall prohibit any lot owner from operating a home-based business in compliance with local laws. Associations may establish reasonable restrictions as to the time, place, and manner of operation and signage for a home-based business.

HB 2275 (Peace), Declarant Control Period: Declarants are allowed to extend the control period of a condominium for a period not to exceed 15 years or the conveyance of 75% of the development units. The declarant may extend the period by holding a special meeting prior to expiration of the current control period, obtaining the approval of two-thirds of the other unit owners and electing a warranty review committee. The Common Interest Community Board will develop a disclosure statement to be given to association members outlining the powers of the declarant under the extension.

HB 2305 (Ramadan), Solar panels: Community associations may establish reasonable restrictions concerning the size, place, and manner of placement of solar energy collection devices on individual properties, and shall disclose such restrictions in the resale disclosure packet.


Land Use and Development

HB 1448 (Hodges), Financing for Septic Repairs: Localities may create a loan program for the repair of property owners' failed septic systems and allow for loan repayment through water or sewer billings, real property tax assessments, or other billings.

HB 1583 (Dance), Vacant Building Registration: This bill increases the maximum annual registration fee for derelict vacant buildings from $25 to $100, and increases the civil penalties for failing to register such buildings with the locality.

HB 1589 (Minchew)/SB 744 (Black), Demolition of Derelict Structures: After obtaining the consent of the property owner, localities may demolish or remove derelict nonresidential structures and file a property lien for the costs incurred.

HB 1726 (E. Scott), Onsite Sewage Systems: The Board of Health shall promulgate regulations for the use of chamber and bundled expanded polystyrene effluent distribution systems for onsite sewage systems.

HB 1853 (Knight)/ SB 1029 (Reeves), Development near Military Installations: Local planning commissions shall consider the effects of development on military installations and consult with the commander of any installation that will be affected by development.

HB 2238 (D. Marshall), Final Site Plans: Site plans shall be deemed final once reviewed and approved by the locality if the only remaining requirements for a building permit are the submission of administrative documents, agreements, deposits, or fees required by the locality. The bill also clarifies the validity of previous extensions of valid plats and site plans.

HB 2239 (D. Marshall), Cash proffers: Proffers shall not be used for any improvement or maintenance of an existing facility if it does not expand facility capacity.

HB 2265 (Knight), Cash proffers: Localities may waive certain written notice requirements to reduce, suspend, or eliminate outstanding cash proffer payments for residential construction.

SB 1226 (Stuart), Cash Proffers: Localities must begin utilization of cash proffers within 12 years, instead of 7 years, of payment.

HB 2326 (Bulova), Regional Strategic Plans: Planning district commissions may prepare regional strategic plans with multi-state government councils.

SB 1065 (Herring), Arts and Cultural Districts: Localities may reduce or rebate real estate property taxes in established arts and cultural districts.

HB 2190 (Cosgrove), Stormwater Management: Localities shall give notice to the Department of Conservation justifying the adoption of a more stringent stormwater management ordinance than required by the state.Landowners can then request a ruling on whether these restrictions comply with state law.


Courts and Records

HB 1652 (Kilgore), Electronic Filing: Circuit court clerks may charge a $2 fee for paper filings if the court has established an electronic filing system.

HB 1715 (Iaquinto), Remote Access: Circuit court clerks are allowed to provide remote access to certain records and to charge a fee for such access, which is used to cover the clerk's operational expenses. Those wishing to access records may be required to show proof of identity.

SB 811 (Garrett), Fraudulent Liens: Any person who knowingly and maliciously files a fraudulent lien or encumbrance in a public record is guilty of a Class 5 felony.


Taxation

HB 1401 (Cole) Property Sale for Delinquent Taxes: Prior to initiating judicial proceedings to sell real property because of delinquent taxes, the locality must notify the taxpayer of right to enter into a payment schedule with the treasurer to pay the taxes within 36 months. Parties may also request dispute resolution proceedings at any time during the court action.

HB 1598 (Anderson), Boards of Equalization: Modifies several provisions governing boards of equalization, including the qualifications for board membership, allowing the use of electronically-filed complaints and prohibiting denials based on a lack of certain information from the taxpayer.

HB 1697 (Minchew), Roll-Back Taxes: Gives localities the option to waive roll-back taxes when a property that qualifies for special land use valuation is rezoned for a more intensive use.

HB 1982 (May), Local Tax Bills: With taxpayer consent, treasurers may convey any tax bill electronically by accessing the treasurer's website.

HB 2039 (Webert)/SB 1054 (Black), Taxpayer Refunds: Adds the Chesapeake Bay Watershed EPA Implementation Plan to the list of organizations that may receive contributions of taxpayer refunds.

HB 2301 (Cline)/SB 881 (Deeds), Volunteer Fire Service Billing: Allows localities to directly bill homeowners on behalf of local volunteer fire departments.

HB 2306 (Ramadan), Eminent Domain Compensation: Provides that just compensation paid for real property taken by eminent domain shall not be less than the appraisal of the fair market value of such property or the current assessed value of such property, whichever is greater. The assessed value must reflect the current condition and fair value of the property.

SB 1356 (Vogel), Loudoun Board of Equalization: Authorizes the Loudoun County Board to appoint the members of its board of equalization rather than the circuit court.


Transportation

HB 2313 (Howell, W.), Revenues for Transportation: The bill eliminates the per gallon tax on motor fuel and replaces it with a percentage-based tax of 3.5% for gasoline and 6% for diesel fuel. Taxes paid on diesel fuel for vehicles weighing 10,000 pounds or less may receive a refund of 2.5%.
The bill imposes a $64 annual registration fee on hybrid vehicles, alternative fuel vehicles, and electric motor vehicles.

The bill raises the sales and use tax across the Commonwealth to 5.3%.

The bill establishes procedures for the collection of the state sales and use tax from online retailers, contingent upon federal approval. If the federal government does not pass authorizing legislation by January 1, 2015, the gasoline tax will be raised from 3.5% to 5.1%. The diesel fuel tax will remain at 6%, but the eligible refund is reduced to 0.9% for vehicles weighing less than 10,000 pounds.

The bill increases the sales tax motor vehicles to a total of 4.15% over four years.

The bill increases the share of existing general fund revenues used for transportation from 0.50% to 0.675%, phased in over four years.

The bill generates additional revenues in Northern Virginia. It increases the sales tax an additional 0.7% to a total of 6%, increases the hotel occupancy tax by 2%, and increases the real estate Grantor’s Tax to a total of $0.25 per $100 of value ($2.50 per $1000). Northern Virginia localities must impose the authorized Commercial and Industrial Tax at $0.125 per $100 or dedicate equal revenues from other tax sources into a local transportation fund; if the locality does not, funding from the Authority will be reduced by the amount not dedicated to the local fund.

HB 1885 (LeMunyon), Pavement Rating: VDOT is required to rate the pavement quality of every primary and secondary highway every 5 years and post the ratings on its website.

HB 1718 (Anderson)/SB 1075 (Barker), Transportation Projects: When local governments cancel transportation projects, they are required to repay any funds received if the Department of Transportation does not agree with the cancellation.

HB 1907 (Anderson)/SB 1222 (Norment), Texting while Driving: Texting while driving is reclassified as a primary offense, with fines of $125 for the first violation and $250 for a second or subsequent violation.

HB 2040 (Comstock), Noise Abatement: VDOT's evaluation of noise abatement projects is extended to June 2015, with an interim report by June 2013.

SB 1140 (Petersen), Mass Transit: Beginning in 2014, this bill directs $160 million in funding for mass transit capital improvements, operating costs and special projects. For revenues raised above $160 million, a Transit Service Delivery Advisory Committee will recommend spending based on performance criteria.



Affiliated Businesses

HB 1686 (Miller)/SB 769 (Wagner) Credit Unions: Credit unions may invest up to 5% of the value of its members’ share accounts and retained earnings in real estate, office buildings, equipment, and furnishings, without the prior written authorization of the Commissioner of Financial Institutions.

HB 1802 (D. Marshall), Contractor Licensing: The Board for Contractors may establish separate licenses for residential and commercial contractors for each of the current Class A, B, and C licensing categories.

HB 1803 (D. Marshall)/SB 994 (Watkins), Mortgage Loan Originators: This bill conforms Virginia law to the federal Secure and Fair Enforcement for Mortgage Licensing Act. It expands the definition of a mortgage loan originator and clarifies exemptions to the licensing requirement for attorneys and seller-financing.

R® HB 2222 (Helsel), Appraisal Management Companies: Both residential and commercial appraisal management companies are bound by state requirements to use licensed appraisers, to disclose fees charged and to refrain from influencing the appraisal process.

HB 2005 (Lopez), Virginia Housing Fund: This bill codifies the deposit of $7 million in federal mortgage settlement funds to the Virginia Housing Trust Fund and directs the use of those funds to provide repayable loans (80%) and grants (20%). Loans may be provided for affordable rental housing, down payment and closing cost assistance for homebuyers, and reducing the cost of homeownership and rental housing. Grants will be given to eligible organizations to reduce homelessness and provide mortgage foreclosure counseling.


Insurance

HB 1527 (Rust), Fire Insurance: Clarifies that excess fire insurance may be written on an endorsement or on a separate policy.

HB 1528 (Rust), Commercial Insurance Notices: Permits insurers to send termination notices on commercial liability policies to the first named insured listed in the policy's declarations page.

HB 1607 (Hugo), Electronic Notices: Allows property and casualty insurers deliver notices of cancellation of certain property and casualty insurance policies electronically. Policy holders are responsible for notifying the insurer of any changes to their electronic address.

What is the Realtors Political Action Committee or "RPAC" ?

Welcome to RPAC, the voice of REALTORS® on Capitol Hill. Since 1969 RPAC has been promoting the election of pro-REALTOR® candidates across the United States. During the last federal election cycle alone, RPAC contributed over $12 million to pro-REALTOR® candidates to Congress, making it the number one trade association political action committee in the nation. Why has RPAC been successful? Because RPAC is not a charity. RPAC is a business.

On the national level, we give our money to those in Congress who both understand and support REALTOR® issues. We look to build the future by putting RPAC dollars in places that will help advance the interests of Real Estate professionals. RPAC is the only political group in the country organized for REALTORS®, run by REALTORS® and exists solely to further issues important to REALTORS®. Think of your RPAC contribution as an investment. The best investment you'll ever make in your business and yourself. RPAC is your best insurance against poorly designed small business and commercial real estate legislation. If you're not giving your fair share to RPAC, you're not doing all you can to better your profession, your business, and yourself.

Fly the American Flag - With Pride (and Respect)

The following is courtesy of Veterans of Foreign Wars (VFW):  

Stand united with your fellow Americans in celebrating our country’s freedom by proudly flying your United States flag. Show the world your pride in “Old Glory” and for the men and women who have secured the freedoms our flag represents.

Use the following tips to ensure you are following proper protocol in paying tribute to this symbol of American freedom.
 
Flag Etiquette
 
The Federal Flag Code says the universal custom is to display the U.S. flag from sunrise to sunset on buildings and stationary flagstaffs in the open, but when a patriotic effect is desired the flag may be displayed 24-hours a day if properly illuminated during the hours of darkness. Also, the U.S. flag should not be displayed when the weather is inclement, except when an all-weather flag is displayed.

Displaying the Flag
 
On Same Staff
U.S. flag at peak, above any other flag.
 
Grouped
U.S. flag goes to its own right. Flags of other nations are flown at same height.
 
Marching
U.S. flag to marchers right (observer's left).
 
On Speaker's Platform
When displayed with a speaker's platform, it must be above and behind the speaker. If mounted on a staff it is on the speaker's right.
 
Decoration
Never use the flag for decoration. Use bunting with the blue on top, then white, then red.

Salute
Head bare (women and military leave hats on), right hand over heart, standing at attention.
 
Over a Street
Union (stars) face north or east depending on the direction of the street.
 
Half Staff
On special days, the flag may be flown at half-staff. On Memorial Day it is flown at half-staff until noon and then raised.

• Do not let the flag touch the ground.

• Do not fly flag upside down unless there is an emergency.

• Do not carry the flag flat, or carry things in it.

• Do not use the flag as clothing.

• Do not store the flag where it can get dirty.

• Do not use it as a cover.

• Do not fasten it or tie it back. Always allow it to fall free.

• Do not draw on, or otherwise mark the flag.

Flag Questions & Answers
The following answers are from the current Federal Flag Code, VFW Ritual and U.S. Army Institute of Heraldry.
 
What should you do with a worn or torn U.S. flag?
Such a flag should be destroyed in a dignified way, preferably by burning. Individuals should be responsible for destroying the worn flag in their possession and burying the ashes. Some VFW Posts provide assistance.
 
If two flags are staffed before the entrance of a building, where should the U.S. flag be?
On the left side as observed from the street.
 
When is it permitted to half-staff the U.S. flag?
Only the president of the United States or the governor of the state may order the flag to be at half-staff to honor the death of a national or state figure. Unfortunately, many city, business and organization leaders are half-staffing the flag upon the death of an employee or member. Instead, it is suggested to half-staff (if on a separate pole) the city, business or organizational flag. The federal flag code does not prohibit this type of half-staffing.
 
How should the U.S. flag be displayed from a staff when on a platform or on the floor in a church or auditorium?
The U.S. flag should always be placed to the right of the speaker (viewer's left) without regard to a platform or floor level. Any other flags displayed should be placed on the left of the speaker or to the right of the audience.
 
What is the meaning of the gold fringe on some flags?
The addition of the fringe started in the early 1800s as decorative enrichment. There are no rules that prohibit the use of fringe on an U.S. flag by nongovernment groups or organizations.
 
To receive a free copy of the VFW's "Our Flag" brochure send a self-addressed, stamped envelope to:
 
Flag Brochure
VFW Citizenship Education Dept.
VFW National Headquarters
406 W. 34th St.
Kansas City, MO 64111

Preferred Web Browsers - MLS-MRIS Matrix

It seems the preferred web browser of choice is Microsoft Internet Explorer, "IE", for many sites and applications, however, based on my experiences "IE" is very slow and does not have a good user interface or "UI".