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According to NAR, leaders of the federal tax-writing committees have announced that they will not take up expiring provisions, including the first-time homebuyer tax credit, until they have disposed of the health reform legislation. Thus, extension and possible expansion of the $8000 tax credit may not take place until October. NAR encourages its members to complete pending transactions as soon as possible because of the potential for uncertainty as the December 1 expiration date approaches. See the First-Time Home Buyer Tax Credit site for more information.
Member Services
July 2009 Archives
July 31, 2009
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July 24, 2009
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In a statement this week, National Association of Realtors® President Charles McMillan identified several steps the association is taking to address and clarify the new appraisal rules that are adversely impacting the housing market:
"NAR and our 1.2 million members are pleased that the Federal Housing Finance Agency has instructed Fannie Mae and Freddie Mac to take action to clarify confusion over the new Home Valuation Code of Conduct for home appraisers implemented this past May. Our members were experiencing delayed and lost sales because of poor appraisals conducted often by inexperienced appraisers who were not familiar with the area. The ramifications were so great to our members and to the housing industry that I personally met with the New York Attorney General's office and with the head of the FHFA to share our concerns."
July 24, 2009
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Please be advised that DAAR staff are currently troubleshooting an apparent problem with our phone system. The good news is that most calls are answered by a live person. However, if all phones are busy, callers may be routed to the voicemail system to leave a message. Recently we have become aware that a very small handful of callers have left messages that were never routed to DAAR staff. We have escalated this issue with our telecom service provider and are working as quickly as possible to resolve it.
In the meantime, if you leave a message in the DAAR general mailbox and do not get a call back within 2 hours, please try calling back (703.777.2468). If you do not reach a live person when you call back, please call 703.431.7448.
We sincerely apologize for the inconvenience and look forward to resolving this issue as soon as possible.
July 17, 2009
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The Washington Business Journal reported the latest housing statistics according to DAAR this week. Loudoun County homes are selling faster and median sale prices are rising. Although year-to-date sales are behind by 10 percent from 2008 and median sales prices are down by almost 8 percent from last year, those numbers have started to climb in recent months. Median sale prices have increased in four of the last six months and are currently around $340,000. Read the rest of the article.
July 17, 2009
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The Division of Utility and Railroad Safety of the Virginia State Corporation Commission (SCC) began a campaign to educate the real estate industry about compliance with the Underground Utility Damage Prevention Act. The Act essentially provides that notification must be made to "Miss Utility," who then is to mark utility lines, when excavating on another's property. Excavation had been interpreted to include placing any real estate sign into the ground, including wire signs inserted by hand as reported by DAAR this month.
Many homeowners who are trying to refinance, but can't because they are "upside-down" have just been thrown a life-line. The Home Affordable Refinance Program (HARP) has just been expanded from the present loan-to-value (LTV) of 105 to 125 percent. This increase is aimed at keeping more people in their homes and out of foreclosure or short-sale situations.
July 2, 2009
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Members who have not paid their annual DAAR dues have been suspended. Membership suspension means:
- Member's lockbox key(s) will not update or operate
- Member will no longer be able to participate in DAAR events
- Member will no longer receive DAAR communications (e.g. weekly newsletter, notice of important meetings and upcoming events, etc.)
Additionally, brokers may be charged a non-member fee equivalent to the agent's membership fee for any agents in their office that are not a member of an association.
Members may reinstate their membership by paying their dues and the reinstatement fee (online, by mail, or by calling the DAAR office at 703.777.2468).
