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NOVA Homeowners Invited to Economic and Housing Forecast Summit

For the fourth year, the Dulles Area Association of REALTORS® will sponsor an Economic and Housing Forecast Summit to discuss what’s in store for the housing market and local economy.

This event is for any member of the community who is interested in learning about the local housing market. The speakers will dicuss the importance of improving the housing market to infuence the economy, and how the market in NOVA has been improving over the last few months.

The Summit will be held on Friday, October 30th from 8:30 a.m. – 10:30 a.m. at the Loudoun County School Administration Building, 21000 Education Court, in Ashburn, VA.

The Summit will include a panel of top national, regional and local economic and housing experts who will discuss recent trends and the outlook for housing and the economy for Northern Virginia and the nation.

The $25 non-member registration fee ($20 DAAR members) includes program and breakfast.

To sign up, go to DAAR's website.

Posted on Monday, October 26, 2009 - 8:28am

Another Sign that Northern VA's Housing Market is Recoverying

After seeing housing prices pick up and inventory levels fall, KB Home is going to resume building and selling homes in the DC area after curtailing operations in 2007, according to The Washington Post.

This is yet another sign that the area's housing market has turned a corner towards recovery. Plus, this will help to boost the local job market as they will be employing sales and construction workers. Great news all around.

"KB Home said Wednesday that it intends to resume building and selling houses in the Washington region this year after curtailing operations in late 2007, yet another sign to real estate analysts of recovery in the area's housing market.

The Los Angeles-based company has built numerous communities throughout Northern Virginia and suburban Maryland, including Huntington Mews in Alexandria, Martin's Chase in Ashburn, Cherry Tree near Upper Marlboro and Middletown South in Waldorf. But the severe housing slump across the country prompted the company during the early days of the recession to suspend construction in Chicago, Albuquerque and the mid-Atlantic region.

Now, after seeing housing prices pick up and inventory levels fall, company officials said they plan to jump back into the market here. They said they will call back sales and construction workers and offer more affordably priced single-family units to meet the demands of an increasingly cost-conscious consumer."

Read the full story.

Posted on Thursday, September 24, 2009 - 10:29am

Chesapeake Bay Reports Call For More Livestock, Runoff Regulations

Last week federal officials released parts of a strategy to restore the Chesapeake Bay, according to NewsDay.com.

The report focuses on expanding regulation of large-scale animal farms and municipal stormwater runoff. Although details of the expanded regulations have not been decided, the report did mention that federal leadership and "muscle" would be used when necessary to enforce the new regulations.

This report, along with others wll be used to develop a bay restoration strategy scheduled for release on Novemeber 9th.

Because many of the Virginia localities in the Chesapeake Watershed are heavily farmed areas, many Virginia property owners could be affected. Property owners will need to ensure that their rights are protected in the process of restoring the Chesapeake Bay.

"Federal officials on Thursday began revealing the building blocks of a strategy to restore the Chesapeake Bay, using federal leadership to encourage states to cut pollution and federal muscle, when necessary, to ensure it happens.

Among recommendations in draft reports from federal agencies: expanded regulation of large-scale animal farms and municipal stormwater runoff, and requirements that increases in pollution be offset by reductions from other sources.

The details, such as how many more animal feeding operations would be regulated, have not been decided, but 'the message here is that there will be, there is a commitment at EPA to increased enforcement and increased oversight of state programs,' EPA Administrator Lisa Jackson said Thursday.

The reports will be used to develop a bay restoration strategy, scheduled for release Nov. 9, that was mandated by an executive order issued earlier this year by President Obama.

The EPA said it was working with Chesapeake Bay states and the District of Columbia to establish limits for nitrogen, phosphorus and sediments. States would have to develop detailed plans on how to reduce levels of those pollutants from sources such as farms, highways and lawns. The EPA said it would step in if states don't take sufficient action.

While large operations such as industrial chicken farms would be regulated, the EPA said it would also expand regulation of municipal stormwater programs to include high-growth areas.

Jackson said the goal was to use federal leadership, and 'federal muscle when necessary.'

Agriculture is responsible for about half the pollution entering the bay, but Jackson noted there is more turf grass in the bay watershed than corn acreage and the region is much different from when bay restoration efforts began decades ago."

Read full story.

Posted on Monday, September 14, 2009 - 10:50am

Northern Virginia Housing Market Shows Signs of Stabilizing

There have been a number of signs to show that the housing market in Northern Virginia is stabilizing, according to a recent article in The Washington Post.

Some encouraging facts include:

-  Being on pace to have half the number of foreclosures as last year
-  Average price of homes is stabilizing
-  Properties are moving faster
-  The number of homes being sold is increasing

Real estate experts are very happy to see these kinds of stats, and area homeowners should be too. An improving real estate market means more security in home values.

"Real estate agents and county officials in Northern Virginia say the local housing market is showing signs of stabilizing.

Carolyn Capalbo, a real estate agent in Manassas who works in Prince William, Loudoun, Fairfax and Fauquier counties, said she has noticed a 'sharp shift' in the past six months, as a swell of buyers, many looking to purchase their first home, have been jockeying for a smaller pool of houses.

'It's a seller's market,' Capalbo said. 'We have a lot of relocation people who they feel like can come in and get the deal of the century but find themselves in competition over property, and they're shocked.'

The number of foreclosures in each county is down from last year, according to county data. In Prince William County, Manassas and Manassas Park, foreclosures through the first half of this year numbered 2,200, on pace to total far fewer than the 8,300 last year, said Bill Vaughn, county economist and demographer.

Read full story.

Posted on Friday, September 11, 2009 - 4:20pm

Believe It or Not, Traffic is Getting Worse in the D.C. Region

According to The Free Lance-Star's transportation reported, traffic is getting worse in the Northern VA/DC region. A recent study showed that traffic issues around the country decreased in most major cities, but got worse in the DC area.

Future tansportation plans like high-speed rail could help to alleviate some of the congestion on the major roadways around the DC region.

"NO, it is not your imagination. Traffic really is worse than it was six months ago.

Real-time traffic information provider INRIX found congestion in most U.S. cities stayed level or shrank this year, growing nationwide at only 0.5 percent. That's not surprising, given the recession, high unemployment and a downward trend in vehicle miles driven. Washington, of course, was an exception. Despite all of these factors, traffic in the D.C. area got 9 percent worse.

Another way D.C. is different: The worst travel hour nationally is Friday from 5 to 6 p.m., but in Washington it's Thursday night from 5 to 6.

INRIX considers Washington the fourth-most-congested city in the nation for the first six months of 2009, after Los Angeles, New York and Chicago, in that order. It beat Atlanta, Dallas, Houston and Seattle."

Read full story.

Posted on Thursday, September 10, 2009 - 8:40am

Highway Money Meant for Hampton Roads Heads North

Image from dougtoneThe Virginian-Pilot recently published an opinion piece about the distribution of highway funds throughout the Commonwealth. Covering details of how interstate funds for Hampton Roads dropped from $32 million last year to $6 million this year, and to zero dollars by mid-2010, the op-ed piece also points out that localities in Northern Virginia will receive 81 percent of the state's interstate budget this year, and 90 percent next year.

"What is Hampton Roads' fair share of Virginia's interstate highway dollars? How about 21 percent, our share of the state population? Or 15 percent, the portion of interstate miles running through the region?

Did anyone guess 2 percent? Fairness aside, that's the region's actual share of interstate funds this year. Here's another number: 0 percent. That's what Hampton Roads will get next year.

The reality that Virginia's second-most congested region is so shortchanged should have folks across the state scratching their heads. Those of us who fight through the region's monstrous traffic jams to work, worship and pick up the kids have a right to be apoplectic.

An analysis by the Hampton Roads Transportation Planning Organization lays out the grim facts. The study covered state funding from 2004 to this year, as well as future plans by the Virginia Department of Transportation for divvying up road dollars through 2015. Over the 12-year period, Hampton Roads' share is 17 percent, while Northern Virginia gets 58 percent, but those aggregate numbers mask what's happening right now."

Read full story.

Posted on Monday, July 27, 2009 - 2:12pm

New Content Coming

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Posted on Monday, June 15, 2009 - 12:00am