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May 24, 2017 


Roanoke Valley Associathion of REALTORS  
    R OANOKE VALLEY REALTOR® ONLINE   

   You are receiving this online enewsletter as a benefit of being
                         a member of the Roanoke Valley Association of REALTORS®.
 

MEMBER TYPE / COUNT
REALTOR®           1,178 Membership Update Logo
Offices                     134
Affiliate                    241

Click here to see which RVAR members
have switched firms, gone inactive, or joined recently.
 

All Virginia REALTOR® members now have access to two new member benefits. (For new REALTORS®, these benefits will be activated for you within the first month of your membership.)

A Tech Helpline is now available to all Virginia REALTOR® members. Simply call 1-800-276-4216 for FREE assistance with personal and professional devices, hardware and software. (Or send an email to support@techhelpline.com.) The Helpline is available Monday - Friday 9AM - 8PM; Saturday 9AM - 5PM Eastern time. You will be asked to provide your First Name, Last Name and Email address. Click here for more information.

Inman Select is now an all-member benefit. Simply log in at inman.com (top right corner) with your username (the email address associated with your NRDS number). Enter temporary password: welcome. That's it! Once you're in, you can change your password under Account Settings. If you need assistance, contact Inman Select directly at customerservice@inman.com or call 1-800-775-4662 and press 1 to reach Customer Service.
Leadership Openings on 2018 RVAR BODBOD

Interested in a leadership role in RVAR? Are you ready to give back to the REALTOR® community? Do you have fresh ideas for change?

RVAR's Board of Directors has announced the following leadership openings for 2018: President-elect, Vice President and 3 Director positions. Based on Bylaws revisions approved last year, the process for applying for a Director or Officer position has been streamlined:
  • The application period begins Tuesday, August 1st and ends on Monday, October 2nd.
  • A period of RVAR membership is required: 2 years for Directors, 3 years for Vice President and 4 years for President-elect.
  • No more than 2 members from the same firm may serve at the same time on the Board of Directors, with the exception of the Immediate Past President.
  • All applicants must meet the following objective criteria:
          o  Must have served on an RVAR Committee, Task Force etc. within the previous 10
              years;
          o  Must not have had a Virginia Real Estate Board violation within the previous 2 
              years;
          o  Must not have had a Code of Ethics violation within the previous 2 years.

The Board is a hardworking body of 12 REALTORS® who set policy for RVAR and the MLS. The group meets 10 times each year to ponder issues, solve problems and manage the Association and MLS funds. If you are interested or have any questions about the requirements and benefits of serving on the Board of Directors, please contact President Kathy Chandler or CEO Laura Benjamin.

Continuing their service on the 2018 Board will be: President Connie Hash (MKB); Immediate Past President Kathy Chandler (MKB); and Directors Bitsy Davis (Long & Foster), Becky Fields (BHHS Premier), Jeff Fletcher (BHHS Premier) and Renee Wiggins (RE/MAX All Stars).
 Home Sales Statistics and Predictionshomesales

The real estate market continued to be active in April, with the highest number of homes sold (437) during April since 2006. A link to the home sales statistics, along with a 4-year comparison, is provided on the front page of RVAR.com. The MLS releases its monthly home sales statistics around the 15th of the following month.

Back in April, 2006, the MLS had 1,400 more residential listings and RVAR had 400 more members. The average price of closed homes in April, 2006 was $202,635, about $2,000 less than in April, 2017.

NAR forecasts that single-family existing home sales will see their best year since 2006, driven by robust job gains and improving household confidence. NAR also forecasts an increase of 5% in existing home prices in 2017. NAR predicts two more rate hikes this year to bring mortgage rates to an average 4.3% by the end of 2017, and climbing towards 5% in 2018.
 Home Inspector Licensureinspector 

Effective July 1st, the act of performing a home inspection for compensation in Virginia will require a license issued by DPOR. Also effective July 1st, home inspections of new construction will require a licensed home inspector with the additional New Residential Structure (NRS) specialty designation. Currently certified home inspectors whose certification is unexpired will automatically be issued a license as of July 1st.
Other New Laws Going Into Effect July 1stlaws

The Virginia REALTORS® Legislative Agenda for 2017 totaled nine pieces of legislation that touched on issues pertaining to property management, homeowner associations and the Residential Disclosure Act. Each bill passed the General Assembly, has been signed into law by the Governor and will go into effect July 1st.

Property management legislation included several provisions that will allow for a smoother transition for an existing tenant and a new owner following a foreclosure of a rental property, including allowing the tenant to continue to pay rent to the new landlord, the property manager at the time of the foreclosure or the courts. The new law will also allow for the written property management agreement to continue in place following a foreclosure on a month-to-month basis until terminated by either the property manager or the new owner, unless a shorter period is provided for in the property management agreement.

Property and Condo Owners Association legislation stipulated that Associations cannot condition, limit or prohibit for sale signs other than limiting signs to those that are in compliance with the VREB regulations. Associations cannot require a formal power of attorney from a real estate licensee to represent their clients before the Association and are required to accept a document from the real estate licensee signed by the owner that confirms representation. Also, failure to deliver the Association disclosure packet within the 14-day requirement subjects the Association to up to $1,000 fine imposed by the Common Interest Community Board.

Residential Disclosure Act updates allow for electronic delivery of the form to the potential purchaser and rename the 'red-flag' disclosure statement the 'buyer to beware' statement. The following new 'buyer to beware' statements are also added that owner makes no representations with respect to underlying (i) conservation or other easements and (ii) community development authority.
 
On May 9th, revisions to the following three RVAR standard forms went into effect:
  • Removal of Contingency
  • Standard Clauses Addendum
  • Subject to Sale
Click here for an overview of these revisions.

A variety of MLS changes were implemented in April, including a complete revamp of the square footage (SQFT) fields to separate above and below grade SQFT per level. The MLS Rules contain the following requirements and definitions.

Above grade SQFT (finished) is required for all residential, farms and rental listings. "Above grade" is defined as that part of the dwelling that is ENTIRELY above ground level. "Below grade" is defined as the area that is ALL or PARTLY below ground level. The square footage of garages may be entered ONLY in the appropriate fields related to Primary Covered Parking and Additional Covered Parking.

Click here for an overview of the MLS changes implemented in April.
zipForms®: How Long Are Documents Saved?zipform

Your zipForms® transaction documents are automatically saved in zipVault® within your zipForms® Plus account in accordance with Virginia real estate regulations.

For example, since Virginia requires real estate licensees to retain transaction documents for three years, if you closed a transaction in zipForms® on April 20, 2017, that transaction would be saved automatically in zipVault® until April 20, 2020, after which time the transaction documents would be deleted. Once a document is permanently deleted, it cannot be recovered.

Using the same scenario, if you do not close a transaction, the document will be saved for five years from the date it was initially created - two years beyond the state requirement.

Should you wish to retain a copy of a document or transaction slated for deletion, you can do so by selecting the "Export" button in zipForms®.

As a courtesy to users, zipForms® has saved a considerable volume of documents beyond the required retention dates . However , beginning May 16, 2017, outdated transactions will be deleted. You may recover and export these deleted transactions during a 30-day grace period via "Deleted Transactions" under the Transactions tab in zipForms®, after which time deleted transactions cannot be recovered.

Questions? Contact zipForms® at 866-693-6767 (M-F 8AM-8PM Eastern).

"My RVAR Commitment Matters": Barry Bridgesmy  

Barry Bridges, Broker/Owner of Weichert, REALTORS® Bridges & Co., stresses the importance of being involved with the RVAR by saying "it is important to our business." Barry has been in real estate for 16 years and continues to say, "being involved is an important part of making a living" in real estate. "It is a way to give back" to the Association and the industry.  He points out that being on various Committees "helps us perform our jobs better every day" and he "likes to be involved."

Barry feels his involvement is "important to my business, helps me stay connected to what is happening in the business and gives me a way to provide input about the business."

Barry has a fondness for Jersey Mike's sandwiches and his involvement at the RVAR offers him an excuse to pick one up when travelling to Roanoke from his office at Westlake.  He currently serves on the Grievance Committee, MLS Monitoring Committee, Standard Forms Committee (2017 Chair), and on the Lake Council. He has previously served as Chair of the Education Committee and on the Board of Directors. 

What is the REALTORS® Action Committee?rpac
 
The REALTORS® Political Action Committee (RPAC) is our way to support our business and
get our message out about issues that impact the way our industry operates.  RPAC helps to support our message at the national, state and local levels.  RPAC is organized for REALTORS® and run by REALTORS®.

RPAC ultimately makes a big difference in your bottom line. REALTORS® are a key part of the American Dream -- property ownership. If REALTORS® do not contribute, speak out, get involved and help shape the discussion, someone else will. No one knows a community better than a REALTOR®. REALTORS® know the lay of the land, the families, the schools, neighborhoods and leaders of any given area. RPAC helps to bring attention to the regulations and policies that affect homebuyers and property rights, and the success of your business.  The issues that impact your bottom line are the RPAC issues!

Support the REALTORS® Political Action Committee by making your 2017 contribution now!  Click here to contribute today!

5 O'clock Hops in Boones Millhops    

5 O'Clock Hops will be in Boones Mill, Thursday June 15th at Hammer & Forge Brewing Company, (70 Main Street, Boones Mill, VA 24065) from 5:00PM 'til 7:00PM.  You are welcome to bring your significant other or friends!
 
No Registration Required for 5 O'clock Hops - just show up! And bring a friend!

*    Appetizers Provided!
*    Enjoy Hammer & Forge's beer selection! Or something non-alcoholic, if you prefer.
*    Door Prizes for REALTORS® & Affiliates! Bring a business card!
*    Click here for a great flyer!
 
This event is sponsored by our outstanding 2017 Partner/Sponsors.

Speaker's Forum Presents!speakers  

Our next Speakers Forum will highlight Roanoke County's ReImagine 419 Plan that is currently being reviewed.  Philip Thompson, Deputy Director of Planning for Roanoke County, will give a presentation about how the plan reimagines the 419 area near Tanglewood Mall as a distinct and vibrant new destination for businesses and residents with a Town Center environment.

The Forum will be held on Tuesday, June 27th at the RVAR office. We will start at new time 8:30AM with coffee, juice and pastries provided.  From 8:45 - 9:45AM we will have a brief welcome followed by Philip Thompson's presentation with time for questions.  There is NO CHARGE to attend this event, but seating is limited.  Click here to register or contact the RVAR office.

The Speaker's Forum helps to provide local, informative presentations regarding topics that affect our businesses. The Forum welcomes all REALTOR® and Affiliate members and there is no charge to attend. 
Upcoming Educationeducation

GRI 508: Real Estate Laws / Virginia Regulations: This Tuesday, June 20th ( 9AM-4:30PM) class, taught by Donna Austin, will cover the most recent Virginia laws and Real Estate Board regulations. Learn how the laws apply to you and protect the interests of your clients. This class qualifies for 8 hours of CE credit (Legal Update and Flood) plus PL credit (8 hours real estate law and Board regulations). Click here to register.

Already have your GRI designation? Contact Louann@rvar.com to register for this class at a reduced rate of $45 (includes materials and filing of CE credit, but no exam required.)

Farm and Land Class: Learn how to be outstanding in your 'field', with everything you need to know about listing and selling farm and land properties. This Thursday, June 22nd (10AM-Noon) class, taught by David Hurt of MKB, REALTORS® and Joey Cornwell of Farm Credit of Virginias, will cover topics including: conservation easements, surveys and right of way, land use taxation, staging land listings and financing options. Click here to register for this FREE class.
Save the Dates for Fall Eventsfall 

RVAR Golf Tournament: Friday, September 8th, Roanoke Country Club.

Legal Update: Thursday, September 21st at South Roanoke County Library, 9AM-Noon.

Affiliates & REALTOR® Night: Tuesday, October 17th at Hidden Valley Country Club, 5-8PM.

Installation & Awards Breakfast: Friday, December 8th at the Sheraton Roanoke Hotel, 8:30-10:30AM.
Our RVAR Familyfamily

Sympathy

RVAR expresses sympathy to the friends and colleagues of James Richard Brooks, Jr. of Campbell Realty upon his recent death.

Congratulations


RVAR congratulates Karen Hankins, of Atlantic Bay Mortgage, upon her recent appointment to VHDA's new Rural Housing Advisory Council.  

Congratulations to those recently named "2017 Best Of" by The Roanoker Magazine, which included categories for real estate firms and agents. Some of RVAR's Affiliate members were recognized, too!

Best Real Estate Firm: Platinum -- MKB, REALTORS®; Gold -- RE/MAX (no specific office named); Silver -- Long & Foster, REALTORS®
 
Best Real Estate Agent: Platinum -- Norm Pullen (MKB, REALTORS®); Gold -- Vickie Clarke (Long & Foster, REALTORS®); Silver - Scott Avis (MKB, REALTORS®)  
 
Best Credit Union: Platinum -- Member One FCU; Gold -- Freedom First FCU; Silver -- Blue Eagle Credit Union
 
Best Moving Company: Platinum -- Virginia Varsity Transfer
 
Best National Bank: Platinum -- Wells Fargo; Gold -- SunTrust; Silver -- BB&T
 
Best Regional/Local Bank: Platinum -- HomeTown Bank; Silver - Bank of Botetourt   

Best Pest Control: Platinum -- Bug Man Exterminating
 
Best National Insurance Provider: Platinum -- State Farm

Best Local Insurance Provider: Platinum - Bill Meador Insurance Agency

Let RVAR know if you have news to share.
Upcoming EventsUpcoming 

May 29th
June 15th
June 20th
June 22nd
June 27th 
RVAR Office Closed for Holiday
5 O'clock Hops: Boones Mill 
GRI 508
Farm and Land Class
Speaker's Forum


Roanoke Valley Association of REALTORS®
Proudly Recognizes Our 2017 Partner / Sponsors 
  
Platinum Level Partner / Sponsor 
 
    
Diamond Level Partner / Sponsor  
BB&T Home Mortgage  
The Roanoke Times  
Virginia Mountain Mortgage 

Gold Level Partner / Sponsor 
Acquisition Title & Settlement Agency, Inc.
Bill Meador Insurance Agency 
 Blue Eagle Credit Union 
Colonial Mortgage Company 
Consolidated Construction Services, Inc.  
Integrity Home Mortgage Corporation  
Southwest Virginia Moving & Storage  
Virginia Title Center, LLC  
Virginia's All-American Movers

Silver Partner / Sponsor
 
Bug Man Exterminating, Inc. 
Colonial Title & Settlement Agency, LLC
First American Home Buyers Protection  
First Citizens Bank
HMS National Home Warranty
HWA (Home Warranty of America)
Seal-Tite Basement Waterproofing Co.
VIA Insurance Agency, LLC 
Contact:
ROANOKE VALLEY
ASSOCIATION OF REALTORS®
  |  540.772.0526