Member Services

Loudoun Market Watch: Blizzards and Low Inventory Dampen Sales

2010-03-12T18:06:22Z

Preliminary February results are in; the blizzards that bombarded Loudoun in February had a considerable negative impact on existing home sales activity. The blizzards were partially to blame for the total sales decline in February to 242 units from January's revised but still low total of 262 units (-7.6 percent month-over-month). ]]>
Pending sales declined about 3 percent from January, presumably due to the relative lack of inventory and the snow storms. While the preliminary month's supply of inventory exceeded five months for the first time since May 2009, it was still within in the parameters for a market in equilibrium (where there is enough supply to satisfy demand). This suggests that sales declined due to low inventory levels. For the second consecutive month, the total number of preliminary attached unit sales exceeded the total detached unit sales.

Other factors were at work though. The market was showing increasing stability and had several positive indicators in February. First and foremost, the preliminary median sales price reached $340,000, up a significant 5 percent compared to January. Prices have notably stabilized in Loudoun since the dark days of 2008; the median was $340,000 or more for seven of the last nine months. Likewise, sellers were pricing their homes to meet market demand; the preliminary average close price to original list price ratio reached 96.4 percent in February. That was the highest monthly ratio in the last four years. And, it has equaled or exceeded 95 percent for seven of the last eight months.

The preliminary average seller subsidy declined 30 percent from last February and remained essentially unchanged between January and February. Another indicator of a stable market was the average days on market - the figure declined to 51 days from 70 in January and posted the fifth time in six months that it was below 60 days.

As far as sales activity for distressed units was concerned and drilling down to the subdivision level, the Sterling Park neighborhood has accounted for 13 percent of the total distressed sales in Loudoun so far this year. Distressed active and pending listings in Ashburn Village, South Riding and Belmont represented 15 percent of the county total in February.

Click here for a copy of the latest Loudoun County Market Statistics report. For questions on DAAR's housing market statistics contact Rosemary deButts, 540/338-2212, .

Are you getting all the benefits of your Affiliate membership?

2010-03-09T21:18:33Z

Did you know that DAAR's website now offers links to your company's email and website addresses AT NO ADDITIONAL CHARGE? If you have not provided the email and web addresses you would like us to use for this purpose, you can get more out of your Affiliate membership.

Did you know that Affiliate members can put tri-fold brochures (and IMPs can leave 8.5x11" brochures) in the DAAR classroom AT NO ADDITIONAL CHARGE? If you have not provided us with these marketing materials, you can get more out of your Affiliate membership.

]]> Did you know that Affiliate members are welcome to attend the monthly Networking Matters cocktail parties for the same price as DAAR REALTOR® members? Or that you can bring one page of information on any topic you like (including your company info) to share with other attendees? If you are not attending the Networking Matters or bringing company information to share, you can get more out of your Affiliate membership.

Did you know that DAAR Affiliates have "first dibs" to sponsor DAAR Events? Some sponsorships are as inexpensive as the cost of providing lunch for event attendees. If you are not aware of the sponsorship opportunities or are not taking advantage of ones that make sense for your business, you can get more out of your Affiliate membership.

Did you know that all DAAR Affiliates are welcome to get involved with the Affiliate Committee and sponsor Affiliate events? Affiliate events are specifically designed to help the Affiliates who sponsor them build relationships with DAAR REALTOR® members. If you are not sponsoring the Affiliate events that make sense for your business, you can get more out of your Affiliate membership.

Finally, did you know DAAR's ALL NEW Integrated Marketing Partners (IMP) program is the best way to get your company out in front of DAAR members? If you are not familiar with the features and benefits of the 2010 IMP program, you can get more out of your Affiliate membership.

That's a lot of benefit for just $219/year or less.

Now, more than ever, you need to make sure every penny you spend on marketing works for you. We understand that you have a choice on where you spend your marketing dollars, and we appreciate that you've invested in a DAAR Affiliate membership. Now we'd like to help you get the best return on investment for those dues dollars. Call (703.579.0302) or email Alecia TODAY to schedule a time to talk about how you can get the most out of your membership.

Champion Title Becomes Gold IMP

2010-02-26T21:35:04Z

DAAR is pleased to announce the Champion Title & Settlements in Leesburg, VA has become the latest Integrated Marketing Partner (IMP). DAAR's Integrated Marketing Partners are critical to DAAR's efforts to minimize member dues through non-dues-related revenue. As an IMP, Champion Title is demonstrating its commitment to DAAR's REALTOR® members and the association. Please make sure to thank Michael Bradford and Keith Barrett for their support.

Click here for more information about Champion Title and how to reach them.

NOW is the best time to grow your business. Become an IMP Today!

2010-02-26T21:15:00Z

Most people "hunker down" when times get tough, but that's no way to grow a business. Opportunities abound, and now's the perfect time to rethink how you do business to take advantage of those opportunities. Tough times can be the perfect time to grow your business. And DAAR is the perfect partner to help you do just that.

]]> DAAR has completely redesigned its popular Integrated Marketing Partners (IMP) program to:

Increase your company's brand exposure to DAAR's REALTOR® and Affiliate members as well as the home-buying public
Ensure clear and comprehensive partner benefits
Lower the cost
Provide a better return-on-investment for your marketing budget

DAAR's IMP program has partnerships to fit every marketing budget - from $1500 to $15,000/year. All IMP levels enjoy:

Complimentary DAAR memberships(1)
Signage at all DAAR events(2)
Recognition in the DAAR Lounge(2)
A banner ad on th DAAR website
Inclusion in the IMP poster and brochure(2)
Tickets to DAAR premium events(3)

Additional benefits and increased exclusivity are available with higher level partnerships. Click here for more information about the different IMP levels, benefits and costs.

(1) Number varies by IMP level
(2) If IMP agreement is executed by the deadline
(3) Number and event selection varies by IMP level

Opportunity's Knocking...Are You Ready?

2010-02-26T21:10:00Z

Did you know that a DAAR Affiliate membership gives you an array of opportunities to promote your company's products and services to DAAR's REALTOR® members? Are you taking advantage of all those opportunities? For just $219/year, DAAR Affiliates get:

Their company name and phone number listed on the DAAR website
A link to the company email address and website
The option to put tri-fold brochures in the DAAR classroom
The option to participate in all DAAR events that are open to DAAR Affiliates
An open invitation to participate in the Affiliate Committee and to sponsor Affiliate events
First "dibs" on sponsoring other DAAR events
Email updates from DAAR

Make the most of your Affiliate membership today by:

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Making sure your company listing on the DAAR website has your company phone number, a link to your email, and a link to your website

Bringing tri-fold brochures to be added to the literature racks in the DAAR classroom

Sponsoring a New Member Orientation or Lunch Matters class (Cost = You decide based on what food you provide. One sponsor per session.)

Sponosoring a Networking Matters (Cost = $250, One sponsor per session.)

Sponsoring a DAAR special event (Sponsorships vary by event. Contact Alecia for details.)

EVEN BETTER...

Ramp up your exposure by becoming an Integrated Marketing Partner (IMP). DAAR's IMP program is designed to ensure maximum brand exposure and maximum opportunities to build relationships with DAAR members all througout the year. Just click here to learn more about the benefits and costs of becoming a DAAR IMP.

March Sneak Peek

2010-02-26T20:28:51Z

March and Spring are just around the corner (hopefully)! And everything's coming up green at DAAR. March is Green Month at DAAR, and there's lots of ways to fuel that spring fever:

Attend the "It's So Easy Being Green" Lunch Matters on 3/3 (Hosted by Repax Inc.)
Get out and renew connections with friends and colleagues at the Networking Matters on 3/4. The beer won't be green, but spirits will be bright.
Attend the "Building Your Business as a Green REALTOR®" Lunch Matters on 3/24(Hosted by Option-1 Title)
Work on your Green Designation by taking the Green Core Course on 3/10 and 3/11
Take advantage of our "Green" specials in the DAAR store. St. Joseph's medals are on sale for $8 in case you have any listings that aren't turning into green in your wallet. And we have DAAR logo'd short-sleeve polo shirts from Lands End for just $16, in case you're sick of turtle necks and multiple layers. Both are a 20% savings.

DAAR has the Cure for those Wintertime Blues

2010-02-22T19:32:00Z

Just when you're starting to see flashes of the movie "The Shining", DAAR has a cure for those wintertime blues. DAAR members can come by the DAAR office and pick up FREE passes to this weekend's Capital Home & Garden Show at the Dulles Expo Center. Get a taste of spring by touring dream garden designs, start planning your spring projects and shop for the latest products for remodeling, gardening, or decorating. ]]> The passes are good for admission anytime. Show hours are:

Thursday, 2/25 5-9 pm
Friday, 2/26 10am-9 pm
Saturday, 2/27 10 am-9 pm
Sunday, 2/28 10 am-6 pm

Each DAAR member may recieve up to 10 free admission passes, so invite your friends, prospects and clients. Tickets are available on a first-come, first-served basis while supplies last. You MUST come to the DAAR office to pick up your tickets. Please DO NOT call to ask that tickets be set aside for you.

Getting together with old friends and making new ones is another good way to fight those wintertime blues. There's no better way to do that than by attending the monthly Networking Matters cocktail party on the first Thursday of every month from 4-6 pm. Just $5* gets you beer, wine, sodas, and muchies in a relaxed and fun atmosphere. It's just like hanging out at Tuskies on a Friday night, but much less expensive!

We've added another Networking Matters to this year's calendar (originally we weren't going to hold one in April, but now we are). That means we can extend our "Buy 8/Get 1 FREE" special for one more month. Pay for 8 Networking Matters (just $40), and get one session free. Plus, I'll pre-register you for all the events, so you won't have to bother. If you already took advantage of this special, you'll actually get 2 free sessions.

The next Networking Matters will be on Thursday, March 4th at 4 pm. If you already bought the special, you're registered. All you have to do is show up. If you want to take advantage of the extended special, just email me. *If you prefer to pay-as-you-go, registrations up through the day before are $5. Registrations on the day of the event and walk-ins are $10.

P.S. - If you're too young to remember the movie "The Shining", I strongly recommend it. It's a classic! But I would definitely wait until June or July to rent it this year. :-)

Loudoun Market Watch: 2010 Home Sales Start Slow

2010-02-12T15:30:22Z

Two factors drove the noteworthy decline in total sales volume in January 2010. The first was an unusually low number of pending sales in December. Presumably, buyers scrambled to settle before year-end to take advantage of tax deductions causing the pending sales to dip significantly by the end of December.
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Preliminary pending sales in January advanced 9.2 percent compared to both December 2009 and January 2009 and suggest February sales may regain losses from January 2010. However, February was also plagued by severe snow storms that will surely have a negative effect on sales activity during the month.

The preliminary median sales price in Loudoun County fell to $322,500 in January from the revised figure from December of $350,000 (-7.9 percent). However, it was $22,500 higher than the median last January (+7.5 percent). The median in Middleburg was $800,000 based on two properties that sold for more than $2,000,000; one sold for $2.4 million and the other closed at $4.25 million. Compare them to the lowest median in the county of $232,000 in Sterling (20164 zip code). Four communities in the county posted median sales prices in excess of $400,000 (Middleburg, $800,000; Ashburn (20148 zip code), $467,116; Lovettsville, $420,000; and Waterford, $635,000).

Seller subsidies, money provided by the seller to help buyers finance their homes, can be significant and serve as an indicator of prevailing market conditions. The higher the average subsidy, the more likely market conditions favor the buyer. The average reached a high of $6,192 in April 2009 but declined to $3,689 in January 2010 suggesting that conditions are increasingly favoring sellers. The more affluent communities of Middleburg and Waterford had thirteen sales between them in January with no seller subsidies. The highest average subsidy was found in Hamilton ($6,337) followed closely by Lovettsville ($6,067).

Revised month's supply of inventory (MSI) figures in Loudoun County have hovered around four months or so since last June. This trend represents a market in equilibrium where there is enough supply to satisfy demand. However, Sterling (20164 zip code) is severely undersupplied with an available inventory of only 1.3 months. Other areas facing a significant lack of supply include Ashburn (20147 zip code), Sterling (20165 zip code), and Dulles (20166 zip code). It is important to remember that this can be a highly volatile indicator but Middleburg, Round Hill and Lovettsville each had a month's supply of inventory between eleven and fifteen months in January. Based on January's preliminary sales figures, there is a thirty-two month supply in Waterford.

The preliminary average days on market in Loudoun County was 53 days in January, up about 30 percent from December but roughly 33 percent below the January 2009 average. The average in Middleburg, where the multi-million dollar properties sold, was 431 days. However, seven of the fifteen communities in Loudoun had average days on market below 60 days.

The percentage of distressed sales throughout the county has been trending up since last summer. The percentage of total sales with short sale and foreclosure designations exceeded 40 percent six of the last nine months. More than 60 percent of the sales in Sterling (20164 zip code) and Dulles (20166 zip code) during January were distressed sales. However, none of the five sales in Middleburg nor the four sales in Hamilton were short sales or foreclosures.

Questions about the latest market statistics report can be directed to DAAR's housing market statistics contact Rosemary DeButts, 540/338-2212,.

2009 Honor Society Applications Deadline Extended

2010-02-05T15:52:44Z

Word is getting out about the changes to the DAAR Honor Society. The new form is easier to complete, and applicants can now qualify even if they meet the minimum point requirements in only two out of three areas thanks to a new tiered qualification structure. Our response rate has been comparable to last year, but we want to make sure everyone has a chance to hear about the changes. Therefore, the Awards Committee has decided to extend the deadline for submitting your Honor Society Application to Friday, February 19th.

If you had at least $2M in production in 2010 and have done any CE courses in the last year, attended any DAAR events, or been at all involved in your community or charitable organizations, you should apply.

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A tiered qualification system with graduated qualification requirements
The ability to qualify by satisfying the minimum requirements in only two out of three areas (e.g. education, industry involvement, community service) at the Silver level
A completely redesigned application form to streamline the application process

Click here to download the 2009 Honor Society application form. New this year is the "Guide to Completing the 2009 Honor Society Application". Please print and use this document to facilitate the application process.

To help you complete the application, you can log into Member Administration using your user name and password. This will bring up a Member Services menu. Click on the "Education Information" link to bring up a list of all the classes you have ever taken at DAAR or the "Your Event Participation" link to see which DAAR events you participated in. Please note that the free lunch series classes will appear under the Education link, while the Affiliate events and other events like the Economic Summit will appear under the Events link. Please also note that if you attended a class or an event without registering, it will NOT show up in your profile.

Completed applications (with payment) may be mailed to Alecia Moroz at the DAAR office, faxed (703.771.9787), or emailed to amoroz@dullesarea.com. ALL applications must be received no later than February 19th, 2010.

February Sneak Peak

2010-01-29T21:48:50Z

February is REALTOR® Professionalism month at DAAR. Join us on Wednesday, February 24th at noon for a Lunch Matters we're calling "One Bad Apple Spoils the Bunch". This Lunch Matters class will include real stories from DPOR to help you avoid the same pitfalls as well as time to talk as a group about what unprofessional behavior you're seeing and what can be done to improve REALTOR® professionalism.

]]> Of course, professionals stay abreast of their industry by networking with their peers. A fun and effective way to do that (while promoting your listings, buyer needs, or company) is through the monthly cocktail party, Networking Matters, on February 4th.

We are also offering special discounts on some textbooks in the DAAR store to help you bone up on different aspects of being a professional REALTOR®:

Fair Housing - Just $4
Environmental Issues in Your Real Estate Business - Just $4
Mastering Real Estate Math - Just $18

We need your help...

2010-01-29T21:07:59Z

We want to make sure we always have enough food and drink for our Networking Matters. On the other hand, we hate to buy a bunch of stuff that we just end up throwing away because it won't keep until the following month. So, we need your help to accurately calculate how much to buy. How can you help? By letting us know that you intend to come by pre-registering online.

To that end, anyone who pre-registers for a Networking Matters will benefit from the $5 pre-registration price. Registrations done the day of the event and walk-ins will cost $10. Or you can avoid all this hassle but taking advantage of our Buy 8/Get 1 FREE special, and I'll do all the work to pre-register you. And, if you can't make it one month, no worries since you get one month free.

The next Networking Matters is on Thursday, February 4th from 4 p.m. to 6 p.m. at the DAAR office. Many thanks to our February sponsor: Go2Guys Home Services.

New Forms Available - Please update your office files

2010-01-27T18:36:02Z

The following DAAR membership forms have been updated and the new forms are now available on the DAAR website:

If you keep copies of these forms in your files, please replace them with the updated copies which you can download and print the forms by clicking on the form name above or from the Membership Forms page.

]]> The Credit Card Pre-Authorization Payment form is also available online, although this form has not changed. Members who want their dues payments automatically deducted can use this form to authorize those automatic payments.

We've also added several new forms that have not previously been available on the DAAR website:

The Non-Member Keyholder Application Form is to be used by members of other associations who want to use a Supra key without becoming a full-fledge DAAR member
The Reciprocal Key Agreement Form allows members and non-members who use a Supra key to have that key programmed to open lockboxes in the Charlottesville, Massanutten, and Eastern Panhandle of West Virginia areas.

Buy 8/Get 1 FREE! - Networking Matters Special

2010-01-21T18:24:41Z

Our first Networking Matters was a big success! But now we're making it even better. In the spirit of creating a relaxed "hanging out at Happy Hour vibe", we're discontinuing the class portion of the event. We're also offering a Buy 8/Get 1 FREE special. Just $40 gets you pre-registered for the rest of the year. No hassle, no remembering to register. Just show up! And you get one FREE!

]]> To take advantage of this special, just email Alecia Moroz (amoroz@dullesarea.com). Once I receive payment information, I will pre-register you for the nine sessions remaining in 2010. (Note, there are no Networking Matters on 4/1 and 12/2. Stay tuned for information about special events we are planning for those dates.)

Please also note that effective with the Networking Matters on 2/4, the cost to register for a single session will be $5 IF YOU PRE-REGISTER ONLINE AT LEAST ONE DAY PRIOR TO THE EVENT. Registration the day of and walk-in registrations will be $10. Our hope is that this will encourage pre-registrations to help us estimate attendance so we can buy the right amount of food. With a lot of last minute registrations and walk-ins, we run the risk of either running out of food or buying to much food (to ensure we don't run out). Since we are very focused on providing the best return on investment for your dollars, we don't want to do either. Your pre-registrations at least one day prior will help us. Or better yet, take advantage of the Buy 8/Get 1 FREE special and you'll be pre-registered automatically.

Loudoun Market Watch: 2009 had Positive Gains

2010-01-12T14:43:11Z

Loudoun's real estate market showed various positive signs of recovery in 2009 although the housing industry throughout the nation was in the throes of a dramatic downturn for at least four years. Obvious signs are sales and pricing trends. Although it was expected, the year ended with an 8.3 percent decline in sales compared to 2008.

]]> At 4,935 units, 2009 recorded the lowest total sales this decade, falling to 2.6 percent below the total sales level in 2000. And, the median sales price declined 4.8 percent compared to 2008 and at $330,000 reached the median in the 2003/2004 era. In both 2008 and 2009, the largest percentage of total sales occurred for those units priced in the $200,000 range.

However, there is more to Loudoun's housing market than sales and pricing alone. The significant decline in active listings was the big story in 2009; the steady monthly decline began in 2007. In 2006, the average number of active listings in a given month was 3,904 units. By 2007 that figure dropped to 3,457 units (an annual decline of -11.5 percent), in 2008 it was 2,971 units (-14.1 percent vs. 2007) and in 2009, the monthly average was only 1,539 units (-48.2 percent vs. 2008). Presumably, discretionary sellers were increasingly willing to wait for prices to rebound before moving. The resulting lack of available supply had a positive effect on prices and other indicators thereby transitioning the environment to a seller's rather than a buyer's market.

For example, median sales prices began an especially steep fall beginning in June 2008 and reached bottom in January 2009 at $291,000. As supply became constrained, median prices increased and reached corresponding monthly levels in 2008 by July. Medians actually exceeded 2008 levels every month since August. The monthly median in December was $352,000.

Likewise, the decline in active listings drove the 2009 average month's supply of inventory to 5.0 months. Compare that to the 8.1 monthly average in 2008, the 9.3 average in 2007 and the 10.0 month average in 2006. In December 2009, the month's supply of inventory was only 3.0 months and was 3.8 months or below for seven consecutive months. In fact, this indicator suggests that there is not enough supply to satisfy demand, a situation particularly evident in eastern Loudoun.

With a lack of available supply comes an increase in demand. The 2009 average days on market was 74 days, another indicator with the best record in four years. The average reached a high in 2007 of 113 days. For the last three consecutive months in 2009, the days on market indicator was 56 days or less.

Loudoun's sellers are more adept at pricing their homes to meet current market conditions than in the recent past. The close price to original list price ratio, a measure of demand, was only 90.6 percent in 2006 but it reached its highest level in four years in 2009 (93.7 percent). In fact, it exceeded 95 percent five of the last six months in 2009.

Click here for a copy of the latest report. For questions on DAAR's housing market statistics contact Rosemary DeButts, 540/338-2212, rosemarydebutts@verizon.net.

What are you doing to grow your business in 2010?

2009-12-31T15:41:53Z

You've tweeted, you're linked in, and you have more friends than you know what do with. Now get ready for the next wave in social networking - face-to-face communication in a relaxed atmosphere over food and drinks. DAAR's Networking Matters monthly cocktail/networking party kickoffs on Thursday, January 7th from 4 to 6 p.m. Will you be there?]]> Just $5 gets you:

Beer, wine, sodas, and munchies
Time to network with fellow REALTORS(R) and Affiliates
Information on the latest in print and internet marketing
An opportunity to showcase your listings, buyer needs, company, products and services, or any topic of your choice.

Every attendee is able to bring one page of information on any subject they would like to share with other attendees. We will also be conducting a mini class on a subject related to January's theme of "Preparing for the Market Rebound". This class will talk about "Marketing yourself through print media and the internet". Class participation is optional and included in the $5 registration fee.

Register online today to make sure you don't miss out on the most fun and relaxed way to help grow your business in 2010! Many thanks to our January sponsor - The Loudoun Times-Mirror.