Page County

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.

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.

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.

According to InsideNova.com federal stimulus money might help advance railroad services in NOVA, and pave way for the Virginia Railroad Express.

Commuters are anxious for the express trains, which could get them to work faster (and with less of a headache) than driving. Homeowners can jump on the bandwagon of supporting this project because in the long run it will do wonders in improving quality of living and increasing property values.

"Virginia will apply for $72 million in federal stimulus money this month to build a third set of rails between Prince William and Stafford counties.

The state is expected to file for the money Aug. 24, and if approved, it will go to fund a third set of train tracks between Powell’s Creek in Dumfries and the Widewater area of Stafford County.

The project is part of the state’s comprehensive vision to bring high-speed rail to the Northern Virginia from Petersburg, and in part will pave the way for Virginia Railway Express to start running express trains on their Fredericksburg line.

The express trains will be 10 cars long and originate during the mornings in Fredericksburg and from Washington in the evenings. The trains would run during peak travel times and stop at only two stations along the route before reaching the end of the line, said VRE spokesman Mark Roeber.

'Those trains would take as much as one lane’s worth of traffic off the highway in one fell swoop, and anyone who boarded the express service would be guaranteed to beat any car on the road and get to work faster,' said Roeber.

The trains would travel at speeds of 90 mph, which is considered the standard for high-speed rail in the U.S. But officials are working to increase the speeds to 110 mph while negotiating with the company, which currently owns the tracks, CSX."

Read full story.

The 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.