January 24, 2019 

Roanoke Valley Associathion of REALTORS  

   You are receiving this online enewsletter as a benefit of being a member of the Roanoke Valley Association of REALTORS®.
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REALTOR®            1265 Membership Update Logo
Offices                    133
Affiliate                   302

Click here to see which RVAR members have switched firms, gone inactive, or joined recently.
2018 Year End Salesyear 
2018 ended with record breaking MLS home sales - 5,431 homes sold, the highest year end total since 2006. And with over 1 billion dollars in volume sold, the highest year end volume since 2005. A link to the year end 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.
Advocacy @ Work work    
Advocacy @ Work is an article aimed at updating members on what is happening in our region regarding Economic Development and/or Governmental Affairs.

The Virginia General Assembly convened on Wednesday, January 9th for the start of the 2019 session. This is considered the "short session" consisting of 46 days this year.
Virginia REALTORS® has several bills making their way through the General Assembly that RVAR is supporting.  
POA/COA Packets - Recent conflicting court rulings in Virginia raised the question of whether the delivery of an "incomplete" disclosure packet in a Property Owners Association (POA) or resale certificate in a Condo Owners Association (COA) begins a buyer's ability to cancel the contract within the three-day right of rescission.

Virginia REALTORS® is seeking legislation to clarify that the delivery of an "incomplete" packet begins the three-day right of rescission. 
Mineral Rights - Virginia REALTORS® is seeking legislation to add "mineral rights" to the Residential Property Disclosure Statement buyer beware form that each potential buyer receives in a real estate transaction. This notice will encourage buyers to perform the necessary due diligence associated with a property.

Consumer Protection Act - Virginia REALTORS® is seeking legislation to add unlicensed real estate activity to Virginia Consumer Protection Act to allow for greater consumer protection against this illegal activity. 
Ensuring individuals can be hired as Independent Contractors or Employees -Virginia REALTORS® is seeking legislation that will clarify that a real estate licensee can hire an unlicensed assistant as an employee or as an independent contractor. 
Click here to track progress of Virginia REALTORS®' bills and find more details about each one.

We are also following progress of funding improvements for I-81, a host of bills about evictions, and the debate about expanding Association healthcare insurance options (to give REALTORS® additional options for obtaining their insurance).  

The 2019 session of the General Assembly is scheduled to conclude on February 23rd. 

Article provided by Joe Sutliff, RVAR Director of Economic & Governmental Affairs.
US Treasury & IRS Give Big Win to Real Estate Professionals in Qualified Business Income Rule irs   
Late last week, the Treasury Department and the Internal Revenue Service issued final regulations regarding the new 20 percent deduction on qualified business income. As Americans begin preparations for the 2018 tax filing season, real estate professionals have been uncertain about the true impact of the 2017 Tax Cuts and Jobs Act on their respective businesses. Friday's ruling from Treasury and the IRS, however, signaled a significant victory for the real estate industry and for many of the National Association of REALTORS®' 1.3 million members.

"This is without a question a big win for REALTORS®", stated Dennis Cronk, President/CEO, Poe & Cronk Real Estate Group, Inc. and 2000 NAR President.  "NAR made this happen and I am proud to have personally played a role."

A central component of the new tax law is a reduction of the corporate tax rate - from 35 to 21 percent. The Section 199A provision provides critical tax deductions for small businesses and self-employed independent contractors, which is how many real estate professionals are classified.

Three major provisions for real estate professionals stood out as critical victories for members of the National Association of REALTORS®.

1. Most importantly, the regulation clarifies that all real estate agents and brokers who are not employees but operate as sole proprietors or owners of partnerships, S corporations or limited liability companies are eligible for the new deduction, which can be as high as 20 percent.

2. The rule simplifies the process that owners of rental real estate property must follow to claim the new deduction.

3. Within the proposed regulation released last August, those who had exchanged one parcel of real estate under Section 1031 for another parcel were unfairly denied deduction eligibility. However, NAR and multiple additional trade groups concerned with commercial real estate were vocal in highlighting this shortcoming. In a positive resolution to the situation, Treasury and the IRS recognized the initial ruling was misguided and corrected the policy in Friday's final guidance.

Click here to see the full NAR announcement with additional details.  
Code of Ethics/MLS Change: Effective January 1st ethics  
The following change to the REALTOR® Code of Ethics went into effect January 1st. A matching MLS rule also went into effect January 1st, as required by NAR.

Standard of Practice 1-7 (the revision is underlined):
When acting as listing brokers, REALTORS® shall continue to submit to the seller / landlord all offers and counter-offers until closing or execution of a lease unless the seller / landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide a written affirmation to the cooperating broker stating that the offer has been submitted to the seller / landlord, or a written notification that the seller / landlord has waived the obligation to have the offer presented. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller / landlord. REALTORS® shall recommend that sellers / landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease.

NOTE: When NAR uses the term 'broker' in the Code of Ethics, it includes brokers and sales associates. Also, NAR has confirmed that written requests and written affirmation can be accomplished via email.
Economic Summit Save the Date econ 
The Economic Development Committee is working on plans for our first Get REal! Summit on Wednesday, April 10th at the Holiday Inn - Tanglewood. Dr. Lawrence Yun, NAR's Chief Economist will be our keynote presenter, however, final plans and times are still being worked out.
You will want to mark your calendars for this very informative and educational event. The event will focus on the important role and impact of both residential and commercial real estate in local economic development. Stay tuned for more details! 
NAR Remodeling Reportremodeling 
Homeowners looking to add personality and individuality to their home are more likely to undertake a do it yourself remodel than hire a professional, according to the National Association of REALTORS® Remodeling Impact Report for 2019. The report also shows that cash-strapped millennials are the most likely of any generation to take on a DIY project.

Survey respondents indicated that the number one reason for undertaking a project was to increase functionality and/or livability of their home, followed by increasing the home's beauty and aesthetics. Most common interior projects were bathroom renovations, kitchen upgrades/renovations and new wood flooring. (Closet renovations were the most popular interior DIY project.) Most common exterior projects were roofing, vinyl and wood windows, vinyl siding and garage doors.

The most popular pet-driven projects were fencing, laminate floor installation and dog doors. Fifty-six percent of pet projects were DIY projects.

Click here to read NAR's Remodeling Report.
MLS Rule Change Re: Waterfrontrule 
The MLS Rules were changed effective January 1st to expand the definition of waterfront residential attached homes as follows: (the added language appears in bold)

Residential-Attached homes (typically condominiums, townhouses or patio homes) having contiguous land between the water or shared waterfront common area and the property (the individual unit.) Such property should be marked Water Class = Waterfront Property. The length of waterfront shall also be specified in the space provided as 0.0.

Brokers and agents are not required to change their listings; however, you will likely want to take advantage of this expanded definition to update your active listings. 

RVAR's Family Fun Night on the Ice ice 
Join us for a night of fun and fast paced hockey with the Roanoke Rail Yard Dawgs on Friday, February 8th.   

Tickets will be just $12 for adults and $10 for children ( under 12) and includes admission and a meal voucher to be used at the concession area.    

Order as many tickets as you would like - bring your family & friends for a fun, exciting evening at the Berglund Center!!  The puck drops against Birmingham at 7:05PM.

These will be pre-purchase only tickets and must be ordered by 3:00PM Monday, February 4th. Tickets can be picked up at the "Will Call" window on game day.

Click here to register online or click here for more information and the order form.  

RVAR Community Service Day Projectproject  
Join us in helping make a difference
The 2019 Community Service Committee would like you to join us as we kick off the new year with our first Service Day Project.
RVAR will be volunteering with Feeding America (1025 Electric Road, Salem, VA 24153) on Friday, March 15. There are two opportunities to volunteer, 9:00am - 12:00pm or 1:00pm - 4:00pm. Choose one or, better yet, both! Breakfast snacks and lunch will be available.

If you would like to join us click here to sign up for the AM shift or click here for the PM shift.

You can also call the RVAR at 540-772-0526 to have us register you for the shift of your choice.

Feeding America Southwest Virginia was founded in 1981 and proudly commemorates 38 years of fighting hunger and changing lives through community partnerships.

The Food Bank is an affiliate member of Feeding America and for the last three decades the Food Bank's ultimate mission has remained the same: eliminate hunger in the region.
The primary function of the Food Bank is to secure large quantities of food for the hungry. Over $28 million worth of food and grocery related products are channeled through a network of 353 partner feeding programs in our 26-county, 9 city region that provide food or meals to those in need.
If you would like to donate or get more information for Feeding America SW Virginia please log on to their website at www.faswva.org.  
RVAR: A Decade Ago ago 
How much has changed in the past 10 years? Click here to check out RVAR and the real estate market in 2009. (Hint: There were 1,465 REALTORS® in 2009 whereas RVAR begins 2019 with 1265 members.) 
Upcoming Educationed 
Quieting the Gremlin Gab to Grow Your Best Business: What does that catchy title refer to? Those gremlin voices full of doubt and self-criticism that haunt all of us. Join Business Coach Sarah B. Rawz on Wednesday, February 20th, 10:00-11:30AM to learn how to identify and manage your gremlin voices to clear your professional path toward easier lead generation, greater productivity and increased sales. Click here to register.

2019 GRI Designation Classes: RVAR's Education Committee will bring three GRI designation classes to the Roanoke Valley in 2019. Whether you are starting or finishing your goal of obtaining your GRI designation, take advantage of these classes offered locally.

    GRI 506, Managing Risk, April 25th
        Instructor: Tim Vohar
    GRI 505, Working with Sellers, May 22nd  
        Instructor: LeRoy Houser
    GRI 504, Working with Buyers, October 29th
        Instructor: Michael Guthrie

Click here to learn more about these classes and sign up! Or click here to learn how to earn the Graduate, REALTOR Institute (GRI) designation, including a calendar of all the courses being offered in Virginia this year. Many of the classes provide continuing education (CE) and post licensure (PL) credit. 
Earn All Required CE at RVARce  
RVAR's Education Committee has arranged for all the required CE classes to be taught at RVAR this year. With the exception of the Legal Update class, all classes will be held at the RVAR office and be taught by John Dickinson of Moseley Dickinson Academy of Real Estate. The Legal Update class will be held at the South County Library and taught by VR General Counsel Laura Farley. Mark your calendars and plan to join us! Online registration for each of these classes will open about two months prior to the class.
Fair Housing
        April 12 (9-11AM)
        August 15 (2-4PM)
        November 7 (9-11AM)

        June 12 (9AM-Noon)
        November 20 (1-4PM)

        April 11 (1:30-3:30PM)

    Legal Update
        September 26 (9AM-Noon)
Our RVAR Family family
RVAR congratulates Tim Greenway   of Mountain View Real Estate LLC upon being elected Vice Chair of the Roanoke County School Board.
RVAR offers condolences to the friends, family and colleagues of  Hazel Williams, formerly of MKB, REALTORS®, who passed away recently.

Let RVAR know if you have news to share. 
RPAC Exceeds Goal for 2018rpac  
A huge "Thank you" to the 444 REALTORS®, Affiliates and RVAR staff who contributed to the 2018 REALTORS® Political Action Committee (RPAC) fundraising campaign! RVAR exceeded all the goals set for us by Virginia REALTORS®, raising over $38,117, including 15 Major Investors (contributions of $1,000 or more.) A sincere "Thank You" to those below who contributed more than their fair share.

2018 RPAC Golden R's
Dennis Cronk * - Poe & Cronk Real Estate Group
Mary Dykstra * -
Kit Hale * -
 *- President's Circle requires additional investments totaling $2000 to be made directly to select RPAC-recommended candidates.
2018 RPAC Crystal R's
(contribution of $2500)
Roanoke Valley Association of REALTORS®
2018 RPAC Sterling R's
(contributions of $1000)
Scott Avis, MKB, REALTORS®
Laura Benjamin, RVAR
Dana Berenbaum, MKB, REALTORS®
Martha Boush, Acquisition Title & Settlement Agency, Inc
Curtis Burchett, MKB, REALTORS®
Vic Coffey, RE/MAX All Stars, LLC
Callie Dalton,  Long & Foster, REALTORS®
Sonya Dickinson, MKB, REALTORS®
Bill Gearhart, Coldwell Banker Townside
Betty Kingery, RE/MAX Mountain to Lake Realty
Joe Sutliff, RVAR
Todd Wampler, Century 21 Wampler Realty
2018 RPAC Governor's Club
( Contribution of $500-$999 )
Bitsy Davis - Edwin C. Hall Associates Inc.
Ashley Donahue - Wainwright & Co., REALTORS®
Donna Marie Harris - Long & Foster, REALTORS®
Stephen Hoover - MKB, REALTORS®
Tim Thompson - MKB, REALTORS®
Tom Turner - Edwin C. Hall Associates Inc.
2018 RPAC Capitol Insiders
( Contribution of $250-$499 )
Valerie Eagle - Park Place Realty, LLC
Damon Gettier - EXP Realty, LLC
Walter Grewe - Long & Foster, REALTORS®
Connie Hash - MKB, REALTORS®
Karen Hankins - Atlantic Bay Mortgage Group
Angie McGhee - Long & Foster, REALTORS®
Dayna Patrick - RE/MAX All Stars Realty, LLC
Tim Toohig - RE/MAX All Points
2018 RPAC $99 Club
(Contribution of $99- $249)
Nick Beasley - Long & Foster, REALTORS®
Lara Bingeman - MKB, REALTORS®
Brittney Sherry - Park Place Realty, LLC
Paula Brown - Freedom First Credit Union
Kathy Chandler - MKB, REALTORS®
Jerry Cohen - Park Place Realty, LLC
Neil Conner - The Real Estate Group
Kelli Eagle - Park Place Realty, LLC
Becky Fields - BHHS Premier, REALTORS®
Jeff Fletcher - BHHS Premier, REALTORS®
Nikki Griffin - Virginia Mountain Mortgage
Jeannine Hanson - Long & Foster, REALTORS®
Tim Hash - Mountain City Realty & Auction, LLC
Dave Henry - Movement Mortgage
Anne Huffman - RE/MAX All Stars, LLC
Jay Kilby - RE/MAX All Stars, LLC
Julie Kingery - RE/MAX Mountain to Lake Realty
Adam Lynch - BHHS Smith Mountain Lake Real Estate
Rick Payne - MKB, REALTORS®
Dexter Rakes - Lake & Land Realty
Henry Scholz - MKB, REALTORS®
Lucinda Scruggs - Quality Realty
Al Smith - Consolidated Construction Services, Inc.
Meg Smith - MKB, REALTORS®
Ralph Smith - Century 21 Gold Key, REALTORS®
Ray Sprinkle - RE/MAX All Stars, LLC
Brad Thomas - Mountain View Real Estate, LLC
Ginger Vail - MKB, REALTORS®
Laken Vail - MKB, REALTORS®
Renee Wiggins - RE/MAX All Stars, LLC
Beth Wilson - BHHS Premier, REALTORS®
Tom Wilson - BHHS Premier, REALTORS®

Upcoming Events events

February 8th
RVAR Hockey Night
February 20th
Quieting the Gremlin Gab to Grow YOUR Best Business
March 15th
RVAR's Community Service Day


  |  540.772.0526