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Archive for the ‘Virginia Real Estate Regs’ Category

The National Association of REALTORS® has won a challenge to the use of its trademark REALTOR® in a domain name operated by the website GayRealtor.com  NAR rules allow members to use its trademark REALTOR® in domain names according to specific requirements and rules. After extensive but unsuccessful efforts by NAR to persuade the operator of [...]

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February 17, 2010, Loudoun County Board of Supervisors created a Limestone Overlay District in the Route 15 corridor north of Leesburg, Virginia. The decision was intended to protect groundwater and prevent contamination problems in that area. Raspberry Falls subdivision has been experiencing water quality problems in recent years. Under the new policies, any water supply [...]

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  The numbers do not lie. In fewer than four months, more than 250 borrowers have applied for VHDA’s new Homebuyer Tax Credit Plus mortgage loan. The loan is definitely sparking the interest of potential first-time homebuyers who thought they’d be left out of the current affordable market due to lack of funds for down payment [...]

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REALTORS love their job – there is never a dull moment and there is not much room for ignorance. The law called Underground Utility Damage Prevention Act requires that Realtors® (and others) must call the Virginia Utility Protection Service — aka Miss Utility — before putting up any sign that involves sticking something in the dirt, other [...]

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The Virginia Housing Development Authority, VHDA, Homebuyer Tax Credit Plus – Program Can be Used for Closing Costs, Points, (and Downpayment) on Loans Closed by December 1, 2009

The Virginia Housing Development Authority (VHDA) is launching a new program to allow first time homebuyers to use the Federal First Time Homebuyer $8,000 Tax Credit to finance closing costs, points to lower their interest rate, and downpayment on a VHDA mortgage.  Borrowers can use the Tax Credit for downpayment only if they satissfied the 3.5% FHA [...]

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The method a purchaser takes the Title to the real estate holdings is of a paramount importance, can have great ramifications in the future, and possibly work against the owner if a wrong title was chosen. My experience as a REALTOR tells me that TITLE  issues are often under-explained and overlooked. Occasionally homebuyers learn about the possible [...]

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Dulles Area Association of REALTORS (DAAR) of Leesburg helped to raise public awareness to oppose the ban on alternative septic systems imposed by the Loudoun County Board of Supervisors. See my blog, November 2008: Loudoun approved ban on new non-conventional septic systems for five years. In 2008, DAAR worked to reverse the ban by helping to [...]

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.  Effective July 1, 2009, a new law in Virginia prohibits the use of handheld personal communications devices while operating a moving motor vehicle, with a few exceptions.  The law states that it is unlawful for any person to operate a moving motor vehicle on the highways in the Commonwealth of Virginia while using any [...]

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Effective October 1, 2008, FHA will accept new applications only from state-certified appraisers. No new applications will be accepted from state-licensed appraisers as a result of the Housing and Economic Recovery Act of 2008, signed July 30, 2008. FHA is only accepting applications from state-certified appraisers. Effective October 1, 2008, licensed appraisers who were approved [...]

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On Monday, November 3rd, the Loudoun County Board of Supervisors (BOS) voted to approve an ordinance to restrict the use of new non-conventional septic systems on homes, businesses and churches for five years.  Despite testimony and input provided by hundreds of DAAR members, Loudoun residents, rural businesses, soil engineers and industry experts opposing the proposed ban before [...]

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This Act protects property owners from localities that seek to alter past zoning decisions by enacting new zoning ordinances. For example, if a structure was constructed in accordance with a local government building permit, and the locality issued a certificate of occupancy or use permit, a later zoning ordinance may not remove it for nonconformity [...]

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Effective July 1, 2008 there is a new law in Virginia,  Property Owners’ Association (POA) Act and Condominium Act. This is a long overdue law.  Until now the HOA documents were an important part of the real estate transaction and the contract – so important that HOA documents alone could make or break the real estate [...]

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The most fundamental right of every Home Buyer is the right to purchase a home that is best suited to their needs and lifestyle, and where they know their Family will be happy.  After all, they are purchasing NOT just a house, they are purchasing a HOME.  This is the minimum of protection that should be [...]

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With the increase in Short Sales beginning in 2007, there was a growing pressure on the listing agents to disclose in the Multiple Listing Service that the Buyer’s offer is contingent on “third party approval” or “lender approval required.”  The short sales often take 30-90 days to close, and the idea behind the “third party approval” disclosure [...]

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Governors’ Mortgage Clinic Planned In Northern Virginia Next Month Governor Timothy M. Kaine announced the schedule for a series of free regional mortgage clinics to help Virginians avoid home foreclosure. The clinics will include general foreclosure prevention information, as well as individual foreclosure counseling sessions with certified housing counselors trained in loss mitigation and foreclosure [...]

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