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published by the northern virginia association of realtors速

January/February 2012


T h e Vo i c e fo r R e al E s tat e i n N o r t h e r n V i r g i n i a


Good Works, Good Vibes Good Business Realtors速 Offer Help, Hope and Holiday Cheer in Our Communities

inside: 7 Market Update:

Foreclosures and Short Sales in the Northern Virginia Market

30 Ask NVAR :

Housing Vouchers Explained

33 NVAR Blood Drive:

Register Today for Jan. 30 Opportunity

NVAR Realtor速 update

January :: February 2012

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Passing the Baton of Leadership



You Have the Power to Create a Lasting Legacy

Volume 95, Issue 1

2012 BOARD OF DIRECTORS Chairman of the Board: Pat Kline Chairman-Elect: Jon Wolford Immediate Past Chairman: Karen Trainor Secretary/Treasurer: Mario Rubio, CIPS, SRES DIRECTORS-AT-LARGE Bob Adamson, CRS, GRI Julia Avent, ABR, CRS, GRI Mary Bayat, GRI Brian Block, ABR, CRS, e-PRO, GRI, SRES Heather Embrey, ABR, e-PRO, GRI, SRS, SRES, SFR Virgil Frizzell Suzanne Granoski, ABR, ASP, CDRS, GRI Sita Kapur, CRS, GRI Shane McCullar Thai-Hung Nguyen, ABR, CRS, SFR Peter Rickert, ABR, e-Pro, GREEN, ESRES Nancy Harvey Steorts, ABR, GREEN, GRI, TRC Publisher/CEO: Christine M. Todd, CAE, RCE Editor-In-Chief: Jill Parker Landsman Managing Editor: Ann Gutkin Associate Editor: Amy Larrabee Advertising Sales: Tracy Reynolds Graphic Designer: Wanda Ng Fontana Contributors: Fred Bowers, Laura Farley, Michele Lerner, Lisa Vierse May, Liz Milner, Christian Moffitt, Lisa Sturtevant

Interested in advertising? Please call 703. 207. 3206 for information. The Realtor® update (ISSN 10988475) is published bi-monthly by the Northern Virginia Association of Realtors® as follows: combined issues for January/February, March/April, May/June, July/August, September/October and November/December. Periodicals postage paid at Fairfax, VA 22030 and additional mailing offices. Subscriptions account for $19 of each member’s annual dues. Annual subscriptions are available to non-members for $39. Subscription inquiries may be sent to the Realtor® update at the address below. Copyright 2012 by the Northern Virginia Association of Realtors®. All rights reserved. Postmaster: Please send address changes to: Realtor® update Northern Virginia Association of Realtors® 8407 Pennell Street Fairfax, VA 22031-4601 Telephone: 703. 207. 3200 | FAX: 703. 207. 3268 Web: nvar.com E-mail: updatemagazine@nvar.com Advertising Info: treynolds@nvar.com

By Pat Kline, 2012 Chairman of the Board


’m very happy to address our members as the 2012 NVAR Chairman of the Board. I am honored to serve in this capacity, and I hope that each of you joins me in discovering all that NVAR has to offer throughout the coming year.

My thanks to Immediate Past Chair Karen Trainor for being a generous and effective leader, and to our 2011 Board of Directors for their service. I look forward to working with the 2012 Board, committee chairs and advisors to keep NVAR at the forefront of the real estate industry. My theme for 2012 is “Passing the Baton of Leadership to a New Generation.” I’m inviting our newer members to come together with those who have served for many years to move NVAR into the future. To those of you who have not attended our events or considered volunteering, I encourage you to do so. You will network with Realtors® who are knowledgeable in all facets of our business, learn about issues that will make you a better resource for your clients, become a more effective advocate for your profession and forge lifelong friendships. To those of you who currently serve on our many committees, forums and task forces – thank you. Our diversity in experience, age and background is our greatest strength. Please encourage others to increase their participation, too. Many of our newer members bring fresh ideas about technology options as tools to a more productive career. They do business in different ways from many of us who have been in business a bit longer. This is good! The give-and-take between generations at our classes and meetings is refreshing and benefits us all. As we evolve as a profession, we must embrace change. I started out in business in 1989 with a suitcase-sized mobile phone and handwritten, hand-delivered contracts. Today’s technology sure beats sitting in my car at midnight waiting for a listing agent and seller to decide if they would accept an offer! In my installation speech, I mentioned that my first “real estate transaction” was accompanying my parents as they purchased a home in Springfield. The Realtor®, Lee Dirr of Routh Robbins Real Estate, made a great impression on me as an eight-year-old. So much so that I still remember her name over 50 years later! All of those working in the housing industry touch people’s lives daily. Attending classes, participating in the political process through RPAC, and volunteering in any capacity that works for you helps to move our industry – and our nation – forward. What are YOU doing today that will make someone remember you 50 years from now? You have the power to affect real estate in a positive way. Please join us at NVAR on this exciting journey! 2012 Chairman of the Board

NVAR Realtor® update

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January :: February 2012

NVAR Realtor速 update

this issue: Community



Market Update GMU’s Dr. Lisa Sturtevant discusses the state of foreclosures and short sales in the Northern Virginia market.


Good Work, Good Vibes, Good Business Realtors® share their experiences with community service projects throughout Northern Virginia and beyond.

10 Pat Kline Takes the Helm of NVAR at Installation Ceremony 12 A2011 Report From ‘Ground Zero’: Industry Pros Assess the Real Estate Market


Ask NVAR: A Home to Vouch For Learn the ins and outs of Section 8 Housing and Vouchers.

15 Drumstix Dash 8K Race Raises $10K To Help Needy Stay in Their Homes 16 Realtor ABCs – Your Guide to Industry Acronyms 22 Can Management Restrict Families with Children to the First Floor? 38 23 Agents Need to Know Government Affairs: Nearly a Clean Sweep 28 Myths and Facts About FHA Loan Limits NV/RPAC support is a common feature among NOVA’s winning candidates. 30 Top Tips for Reaching the Tip Top in 2012 32 In Memoriam – Sandy Augliere and Champ Buck mark your calendar 37 NAR Data Tracks Demographics, Affordability 31 Legislative Bus Trip Thursday, February 2 40 2012 NV/RPAC Contributor List 33 NVAR Blood Drive Monday, January 30 42 Class Schedules 41 Multi-Million $ Deadline 4 4 Welcome New Members Tuesday, January 31 45 Appraisers & Affiliates Directory ®

NVAR Realtor® update

January :: February 2012

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NVAR Realtor速 update

market update

By Lisa A. Sturtevant, PhD George Mason University Center for Regional Analysis

The State of Foreclosures and Short Sales in the Northern Virginia Market: Improved This Year


he national press frequently reports on the relationship between home prices and the inventory of distressed sales. Working through the nation’s foreclosures and short sales is essential for recovery of the U.S. housing market. By one estimate, the U.S. housing market will not bottom out until foreclosures are less than 10 percent of sales.1 In addition to the existing inventory of foreclosures, there remains concern nationally about the shadow inventory of foreclosures—that is, the number of homes where the homeowner is 30 days or more delinquent.2 How big a problem are foreclosures and short sales in the Northern Virginia housing market? Are distressed properties keeping prices down?

The Washington, D.C. metropolitan area has a lower foreclosure rate than many other places. However, some jurisdictions, like Prince William County, experienced a large number of foreclosures during the early part of the crisis but have begun to recover. Others, like Prince George’s County in Maryland, continue to struggle with growing inventories of distressed properties. The NVAR region—particularly many of the inside-thebeltway neighborhoods—experienced a lower level of foreclosure activity than most of the rest of the region. And while the number of foreclosures and short sales comprised a substantial number of total sales during the last three years, the percentages have been falling and remain lower than the rest of the region (Figure 1). For example, according to MRIS data, in Fairfax County there were 2,772 foreclosure sales and 1,950 short sales in 2009, which accounted for 19 and 14 percent of total sales, respectively.

The short answer is that foreclosures and short sales are not as big a problem in our region as they are in many other continued on next page markets across the country. However, in some neighborhoods, the number of Figure 1: Foreclosures and Short Sales Percentage of distressed properties in the inventory Total NVAR Sales, 2009 – 2011* remains fairly high and will hinder price appreciation. The upside is that our region likely has a much smaller shadow inventory of foreclosures because of our stronger economy and lower unemployment rate. In many markets across the U.S., home prices continue to fall because there are a significant number of distressed properties in the inventory. Foreclosures and short sales, which have lower prices, keep the prices of other properties low and affect appraisals. The recovery of the national housing market depends to a large extent on the draw down of the inventory of these distressed properties. 1 go.nvar.com/evy3 2 go.nvar.com/57nb

* Through October NVAR Realtor® update

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Source: MRIS, GMU Center for Regional Analysis http://go.nvar.com/1201 7

market update

Figure 2: Active Listings Percent

In 2011, the combined foreclosure and short sales in Fairfax County accounted for just 22 percent of all sales. The level of foreclosure and short sales in Arlington and Alexandria were much lower, and also fell in 2011.

Short Sales Outpace Foreclosures



Short Sale


Short Sale


Short Sale or Foreclosure

District of Columbia



































Prince George’s







Suburban Maryland




























Fairfax City







Falls Church City NVAR Region













Nationwide, and Clarke 150 16 14 10.7 9.3 20.0 in the Northern Fauquier 526 90 38 17.1 7.2 24.3 Virginia area, short Loudoun 2,035 432 92 21.2 4.5 25.7 sales have begun to Prince William 2,167 830 154 38.3 7.1 45.4 outpace foreclosures Spotslvania 774 227 64 29.3 8.3 37.6 in terms of sales. One reason there has Stafford 688 212 53 30.8 7.7 38.5 been a shift away Warren 451 63 41 14.0 9.1 23.1 from foreclosures Fredericksburg City 121 18 7 14.9 5.8 20.7 has been increased Manassas City 144 72 8 50.0 5.6 55.6 government scrutiny Manassas Park City 83 43 8 51.8 9.6 61.4 of the foreclosure Northern Virginia 12,925 3,165 778 24.5 6.0 30.5 processes at Bank Jefferson Co WV 362 77 27 21.3 7.5 28.7 of America and Washington MSA 28,182 8,284 1,646 29.4 5.8 35.2 other large financial institutions. In Source: MRIS, GMU Center for Regional Analysis. Active Listings as of 11/28/2011 addition, lenders, agents, buyers and and the NVAR region fare better than most places. sellers have become Regionwide, about one in three homes currently listed more familiar with short sales, and they have been able to for sale is either a foreclosure or a short sale. There are proceed at a faster pace. Nationally, the average time for a hot spots of distressed properties around the region. In 3 short sale to go through is more than 11 months. Prince George’s County, for example, nearly two out of On average, a short sale sells for a 21 percent discount, every three homes listed for sale is either a foreclosure or compared to a 40 percent discount for the average a short sale. By contrast, in Arlington County, only about foreclosure. Thus, while short sales still have a dampening one in 10 homes listed for sale is a foreclosure or short effect on prices, the price impact will be less severe and the sale. Overall for the NVAR region, foreclosures and short properties will move off the market more quickly than if they sales account for about one quarter of the current active went to foreclosure. listings—20 percent of active listings are short sales, while just 5 percent are foreclosures.

The Impact of Location and Housing Type

Data from MRIS suggest that in some local jurisdictions, the inventories of foreclosures and short sales remains relatively high (Figure 2). However, Northern Virginia 3 go.nvar.com/qfn7 8 http://go.nvar.com/1201

About 32 percent of the foreclosures and short sales in the NVAR inventory are single-family detached homes, while 29 percent are townhomes and 38 percent are condos (Figure 3). Given the relative difficulty obtaining financing for a condo purchase, it is likely that these distressed condominiums will take longer to sell.

January :: February 2012

NVAR Realtor® update

market update

Distressed Housing’s Effect on Prices Not surprisingly, the prices of the foreclosure and short sale listings are lower than average sales prices. According to MRIS data, the average list price of a short sale in the NVAR region is $340,000 and the average foreclosure is listed for $334,000. By contrast, the average sold price in 2011 in the NVAR region was close to $500,000. Part of this difference is due to the difference in the mix of housing types. However, the price differences also reflect the quality of the distressed housing relative to the overall inventory. Prices have risen and stabilized in the NVAR region. According to MRIS, the average price of a home sold in the NVAR region in October was about $470,000. While this is still below the June 2006 peak average of $578,000, the movement is in the right direction. The market in the NVAR region has reached bottom, despite lingering foreclosures and short sales. A downside risk is the size of the shadow inventory. However, while the shadow inventory can be a big issue in some parts of the country, it will not be as big a problem in our region. Delinquencies are now strongly correlated with unemployment. Because the economy is better and the unemployment rate is lower in Northern Virginia than just about anywhere, our region faces a smaller potential shadow inventory. Therefore, working through the existing inventory of distressed properties will be clear evidence of a continuation of the region’s market stabilization.

NVAR Realtor® update

January :: February 2012

Figure 3: NVAR Foreclosures and Short Sales by Product Type

Source: MRIS, GMU Center for Regional Analysis

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installation & recognition

Pat Kline Takes the Helm of NVAR at Installation Ceremony Hall of Fame, Honorary Life Member Honorees Named In a standing-room only ceremony, NVAR celebrated a year of growth and innovation at the annual appreciation and installation ceremony. Pat Kline, with Avery Hess Realtors® in Springfield, was installed as the 2012 Chairman of the Board. Led by 2011 Chairman Karen Trainor, and assisted by 2009 Chairman Susan Mekenney, as the installing officer, the event served to thank the 2011 leadership team for their contributions and induct the 2012 leadership team. “In 2012, I hope to encourage leadership in a new generation of real estate professionals,” said Kline to the audience of 150 guests at the NVAR Fairfax headquarters on Thursday, Dec. 8. “When I step down at the end of my term, I plan to ‘pass the baton’ not just to the next chairman, but to a new group of industry leaders as well.” Also honored this past December for more than 10 years of service and commitment to NVAR was 2012 VAR President Trish Szego, broker/owner of ERA Elite Group in Fairfax, who was named to the NVAR Hall of Fame. Honorary Life Membership was bestowed upon Gayl Warman of Coldwell Banker in Alexandria and Kip Laughlin of William H. Laughlin, Co. in McLean. That honor is reserved for NVAR members who have gone far beyond the call of duty to volunteer their time and talent to the Realtor® family. “Our new year will bring a great set of challenges for our market and our association, and Pat Kline brings a wealth of experience to guide us,” said NVAR Chief Executive Officer Christine Todd. “We expect our local market to continue with its steady and stable recovery, and our association, under Pat’s leadership, will work to boost our members’ awareness of changing conditions while maintaining peak professionalism. Both factors should help homebuyers in Northern Virginia with their home buying experience.”

2012 NVAR officers: Jon Wolford, Chairman-Elect Long & Foster Real Estate, Springfield, VA Mario Rubio, Secretary/Treasurer Rubio Real Estate, Annandale, VA Karen Trainor, Immediate Past Chairman Weichert Realtors®, Ashburn, VA

2012 Directors-at-Large: Bob Adamson McEnearney Associates, Arlington, VA Julia Avent RE/MAX Allegiance, Arlington, VA Brian Block RE/MAX Allegiance, McLean, VA Heather Embrey McEnearney Associates, McLean, VA Virgil Frizzell Long & Foster Real Estate, Reston, VA Suzanne Granoski Keller Williams Realty, Alexandria, VA Sita Kapur Arlington Premier Realty, Arlington, VA Shane McCullar Keller Williams Realty, Alexandria, VA Thai-Hung Nguyen Westgate Realty Group, Falls Church, VA Mary Bayat Bayat Realty, Alexandria, VA Peter Rickert Coldwell Banker Residential BK, Alexandria, VA Nancy Harvey Steorts Long and Foster Real Estate, McLean, VA

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NVAR Realtor® update

installation & recognition

1. Students from Graham Road

Elementary School entertained guests prior to the Installation and Recognition ceremony. The chorus is directed by Brian Maxwell and Jenni Lucas. Each December NVAR, one of the school’s corporate partners, collects holiday gifts from members, which are donated to the school’s families. Principal Terry Dade was also recognized at the event.

2. Members of the 2011 leadership team received gifts from 2011 Chairman Karen Trainor to thank them for their year of service to the association. Pictured (left to right): Virgil Frizzell, Mary Bayat, Thai-Hung Nguyen, Kevin Lee, Jon Wolford, Suzanne Gaffney, Mario Rubio, Vinh Nguyen, Angie Delboy, Helen Krause, Scott MacDonald, Larry Anderson, Michele Watson and Fred Bowers.




3. Bud Jordan, 1984 NVAR President, began the ritual ‘passing of the gavel’ from earliest to most recent chairman in attendance. Installing officer Susan Mekenney, 2009 NVAR Chairman, passed the gavel to the newly-installed Pat Kline. 4. With 2010 NVAR Chairman Vinh Nguyen and 2011 Chairman Karen Trainor looking on, Pat Kline takes the oath of office to become NVAR’s 2012 Chairman of the Board. 5. The 2012 NVAR officers and board of directors were also sworn in at the December 8 ceremony. Pictured (left to right): Shane McCullar, Nancy Harvey Steorts, Mary Bayat, Peter Rickert, Thai-Hung Nguyen, Karen Trainor, Suzanne Granoski, Mario Rubio, Heather Embrey, Jon Wolford, Virgil Frizzell, Brian Block, Julia Avent and Bob Adamson. Not pictured: Sita Kapur


6. Newly-installed Chairman Pat

Kline gives a U.S. Marines “oorah” after viewing a surprise video greeting from her son, Captain Michael Kline, who is stationed in Waikiki, Hawaii.

7. NVAR Realtor® update

6. January :: February 2012

7. Pictured with 2012 NVAR Chairman Pat Kline are her husband John (left) and son Sean, who opened the program by leading the Pledge of Allegiance. http://go.nvar.com/1201 11

year-end press conference

A Report From ‘Ground Zero’:

Industry Pros Assess the 2011 Real Estate Market By Liz Milner, Contributing Writer




Year-End Press Conference Underscores Continued Affordability, Need for Consumer Confidence Spike A wide-ranging discussion of the state of the industry took place at the Metropolitan Washington D.C. Year-End Real Estate Market Watch Press Conference on Wednesday, December 14. NVAR, along with the Greater Capital Area Association of Realtors® and Prince George’s County Association of Realtors®, hosted the annual event. The program, which took place at the National Press Club, featured presentations from John McClain, Senior Fellow & Deputy Director of GMU’s Center for Regional Analysis, Karen Trainor, 2011 NVAR Board Chairman, Bonnie Casper, 2012 President, GCAAR, and Alease Bowles, 2012 President, PGCAR. The broad cross section of the Metro D.C. real estate industry sponsoring the event, said Casper, was proof that “we’re in this as a region; not as a county. Fewer federal dollars for transportation and other amenities means that we need to pull together to improve the whole region.”

workers have increased by $1.7 M this year. He stated that low consumer confidence is the greatest barrier to recovery. The local picture is rosier, McClain noted. The federal government buoyed the local economy through 2009 and 2010, he explained. Federal government procurement activities have grown at a rate of 10 percent each year and have added great vitality to the region. Now, he said, talk about shrinking government has caused local employers to be hesitant about hiring permanent employees. This uncertainty is reflected in the housing market. Homebuilders are building $400,000 houses, not $600,000 ones. Builders are obtaining permits for multi-family units because they see rentals as a hotter market, he pointed out. It’s likely that they will overbuild on rentals, McClain predicted, so rental rates should come down drastically sometime soon. Caution rules in the office real estate market where government contractors and subcontractors are holding off on renewing leases or getting new space. This market will stay flat through 2014, McClain concluded.

Good Times in Northern Virginia

The National Outlook Opening with an overview of the national economy, McClain reported an annual GDP growth rate of 2.5 percent. The manufacturing and service sectors are expanding and payroll jobs (full-time permanent jobs with benefits) also are on the increase, he explained. Jobs for part-time and self-employed

The situation in the nation, which also holds true in Northern Virginia, said Trainor, is improving. There is sizeable pentup demand based on three factors – population growth, employment levels and the “doubling up” phenomenon (the tendency for people to live with parents or in group houses during hard times).

1. George Mason University’s John McClain kicked off the 2011 year-end real estate press conference with an overview of the national economy and this region’s commercial and housing market. 2. The four keynote speakers fielded questions from members of the press and other audience members following their presentations. Pictured (left to right): 2012 PGCAR President Alease Bowles, GMU’s John McClain, 2011 NVAR Chairman Karen Trainor and 2012 GCAAR President Bonnie Casper. 3. Washington Post reporter Sara Goo questioned panelists about the potential fate of federal Realtor® political concerns in the shadow of an election year.

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NVAR Realtor® update

year-end press conference

“As long as prices continue to stabilize, employment strengthens and mortgage money can be obtained, home sales should show improvement in 2012.” – Karen Trainor 2012 NVAR Chairman Inventories are low and the figure for average days on the market for Northern Virginia homes is only 60 days. “We have declining inventory,” she continued. “At our current pace, it would take less than three months to sell our current inventory. Our market will devour any shadow inventory.” The unemployment rate in Fairfax County is 4.2 percent as compared to a rate of 4.5 percent for Northern Virginia and 8.6 percent for the nation as a whole, Trainor explained. This year the metropolitan area added 18,600 jobs, and half of them are located in Northern Virginia. BRAC also brought a net new job gain of 14,000 to the area, she said. Trainor remarked that the industry overcame challenges in Congress. There is no immediate threat to the Mortgage Interest Deduction, she said, and FHA loan limits have been restored to $729,750 until 2013. This will be an advantage in the Northern Virginia market, she noted, since houses are much more expensive than in other parts of the region. Non-FHA loan limits remain at the $625,500 level, she pointed out. The threat of a double-dip recession has

receded, and home prices are stabilizing at new levels. Trainer said, “as long as prices continue to stabilize, employment strengthens and mortgage money can be obtained, home sales should show improvement in 2012.”

D.C. and Montgomery County: Holding Their Own Casper of GCAAR, with 8,000 members in Washington D.C. and Montgomery County, also was optimistic. Sale prices have almost returned to their previous levels. In July, 2005, the D.C. median home sale price was $450,000. By July 2010, it had dipped to $350,000; but in July 2011, the median home sale price had risen to $445,000. The average number of days on the market are 76 in D.C. and 90 in Montgomery County. Unfortunately, she noted, loan processing is taking longer now since lenders are stricter. Performance might have been stronger had it not been for uncertainty about the action the government would take regarding market regulation, Casper remarked. Congressional debate on the debt ceiling, mortgage interest deduction, loan limits, and the Qualified Residential Mortgage caused potential buyers to become skittish, she said. Government actions, according to Casper, will have a decisive impact on the market in 2012. Uncertainty about the economy and especially about jobs continues to erode consumer confidence, she explained. The availability of financing also will have a huge impact. Financing, she said, is one of the biggest hurdles for homebuyers. “We’ve taken a 180-degree swing from easy access to capital to no access to capital.”

Learn more at the following websites George Mason Center for Regional Analysis,

Greater Capital Area Association of Realtors ®,

Northern Virginia Association of Realtors ,

Prince George’s County Association of Realtors ®,






Press Conference, continued on next page NVAR Realtor® update

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year-end press conference Press Conference, continued from page 13

Transportation is “the elephant in the room,” Casper said. With people afraid to buy houses in the current environment, the jobs created by BRAC could translate into increased traffic tie-ups rather than home sales.

and interest rates are at an all-time low. Realtors® need to spread the word that “PG is on sale,” Bowles said, and that the county is offering homebuyers’ assistance programs that create even greater value for clients.

Casper concluded that “it’s important to preserve the mortgage interest deduction, fight regulations that require homebuyers to put 20 percent down and preserve the higher loan limits. If you want to revive the economy, bring back the housing market.”

These programs include:

Prince George’s County: Land of Opportunity While the speakers who had preceded her spoke of positive trends, Alease Bowles of the 3,000-member PGCAR told a different tale. Prince George’s County leads the state of Maryland in the rate of foreclosures. Home sale prices are the lowest in five years and are still declining. Bowles explained that this creates a major opportunity. With an average single-family home price of $192,000 in October of 2011, Prince George’s County has the lowest home prices in the Metro D.C. area and offers homebuyers a great value, according to Bowles. Inventory is abundant

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• The Buy Suitland Initiative. Offers zero percent interest loans to homebuyers who have not owned a home in the past three years and are buying the home for their principal residence. The funding is available for distressed properties in the Suitland area. The loan is forgiven after 10 years of residency. • My Home Program. The county will provide up to 5 percent in downpayment and closing costs assistance to qualified homebuyers who have not owned a home in the last three years. The county also unveiled a $50M economic development incentive fund and has made a commitment to foster transit-oriented development around its 15 Metro stations. In conclusion, the speakers stressed that housing is 20 percent of the GDP and “ground zero for the nation’s recovery.” In every past recession, housing was the key to the recovery. The revival of the economy cannot take place without a strong housing market.

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NVAR Realtor® update

drumstix dash

Drumstix Dash 8K Race Raises $10K To Help the Needy Stay in Their Homes Four hundred and ninety runners and walkers from 18 states met at Burke Lake Park in Fairfax Station, Virginia on Saturday, November 26 to help solve the problem of homelessness in Northern Virginia by participating in the Drumstix Dash Charity 8K race. The race raised $10,000 for Housing and Community Services of Northern Virginia (HCSNV), a non-profit that helps local residents who are in danger of losing their homes.


The Drumstix Dash is sponsored by the Northern Virginia Association of Realtors® and Sheehy Ford. Christine M. Todd, NVAR CEO, said, “Every American should have a place to call home, and NVAR is proud to support the housing counseling programs that HCSNV provides to our neighbors in need.” These programs include housing and literacy counseling and emergency assistance to homeowners and renters. Jill Landsman, HCSNV’s Board Chair, says that the number of families in need of HCSNV’s assistance has grown exponentially due to the ongoing housing crisis. “Fundraising events such as the Drumstix Dash have become essential to HCSNV’s survival,” she said. “The demand for HCSNV’s services is skyrocketing at a time when funding cuts by Fairfax County threaten our very existence. We rely on support from the community to continue our work of helping people in housing distress.” HCSNV is a local 501(c) (3) non-profit association that combats homelessness by offering financially challenged homeowners and renters services that include budget counseling, affordable housing search, crisis intervention, and emergency financial assistance. You can learn more about HCSNV, make a donation or volunteer your help at hcsnv.org. Or email info@hcsnv.org.



4. 1. The first to register for this year’s race, NVAR CEO Christine Todd (left) proudly displays bib number one. Joining her to support the cause of housing in Northern Virginia is 2011 NVAR Chairman Karen Trainor. 2. Registration

lines for the 2011 Drumstix Dash quickly grew, as more than 140 runners and walkers opted to sign up on the day of the race, helping to break attendance records for the annual event. 3. Led by volunteer Sheila Oak, participants warmed up with enthusiasm before heading to the starting line. 4. With a nod to the event theme, one team of racers donned turkey toppers to help them “gobble up” the race course miles. 5. The one-mile fun run included racers of all ages, plus some four-legged participants. 6. Rob Bell of Gainesville had the fastest time among male runners this year, clocking in at 28.42 minutes. 7. Olivia Poblacion of Corvallis, Oregon was the fastest woman to complete the course, with a time of 30.57 minutes. NVAR Realtor® update

January :: February 2012

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industry alphabet soup

Realtor ABCs ®

Your Guide to Industry Acronyms

Learning the alphabet is a necessary first step for understanding a new language. Like many professions, real estate has a language all its own, much of it abbreviated into a collection of acronyms. Long-time students of real estate likely have already cracked the code, but for newer agents, this list of some commonly-used industry ABCs offers a guide worth saving. ABR

Accredited Buyer Representative: NAR certification for buyer representation


Association Executive: anyone on staff at a Realtor® association


American Institute of Real Estate Appraisers


A technology certification provided by NAR



American Land Title Association



American National Standards Institute



Adjustable-Rate Mortgage is a home loan in which the interest rate can change based on movement in an agreed-upon index, such as LIBOR.

Fair Market Value: The price that a given property or asset would fetch in the marketplace

Information Data Exchange: agreement by firms in MLS to advertise each others’ listings on firm websites


Home Owners’ Association


Federal Political Coordinator: liaison to a Member of Congress for NAR

Limited Function Referral Office: a company licensed for the sole purpose of providing referrals to another firm



American Society of Appraisers



American Society of Association Executives

Government Affairs Director: typically an association staff title



Certified Association Executive: designation awarded by ASAE


Certified Commercial Investment Member: designation awarded by the CCIM Institute


Certified International Property Specialist: NAR designation focused on International real estate

Good Faith Estimate: a document that lenders are required to provide prospective borrowers detailing the estimated costs of the mortgage loan. The costs listed on the GFE typically include the lender’s origination fee, points (if any), escrow or attorney’s closing fees, title insurance, appraisal fee, and various other taxes and expenses.


Certified Real Estate Brokerage Manager: designation awarded by Council of R.E. Brokerage Managers

Graduate, Realtor® Institute: NAR designation awarded at state association level

London Interbank Offered Rate: The interest rate that the banks charge each other for loans (usually in Eurodollars). This rate is applicable to the short-term international interbank market, and applies to very large loans borrowed for anywhere from one day to five years. This market allows banks with liquidity requirements to borrow quickly from other banks with surpluses, enabling banks to avoid holding excessively large amounts of their asset base as liquid assets. The LIBOR is officially fixed once a day by a small group of large London banks, but the rate changes throughout the day.


A Home Equity Line of Credit allows homeowners to borrow cash against home equity. Unlike a second mortgage, borrowers can take what they need (up to the limit) and return for additional funds.


United States Department of Housing and Urban Development


Loan-to-Value is one of the key ratios that lenders use to assess the risk of a loan. The ratio is the mortgage divided by the price or appraised value of the property. When a property has multiple mortgages, lenders use a combined loan-to-value ratio, or CLTV.


Mortgage Insurance Premium


Mortgage Bankers Association of America



Certified Residential Specialist: designation awarded by the Council of Residential Specialists


Center for Real Estate Technology: division of NAR focused on technology products, programs and issues


Debt-to-Income Ratio: how a lender determines the amount that a borrower

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can afford to pay every month. By dividing the borrower’s monthly liabilities by monthly income before taxes, the lender arrives at this percentage.


When the mortgage officially closes, lenders are required to state the actual January :: February 2012

costs of the loan on a HUD-1 form. The HUD-1 should track with the GFE, but it can also include other costs, such as a broker’s commission, which might not have been included in the original estimate.

NVAR Realtor® update

Industry Alphabet Soup


Multiple Listing Service


Metropolitan Regional Information Systems; NVAR’s MLS


National Association of Home Builders


National House Building Council


National Realtors® Database System: centralized membership clearinghouse


Represents the sum total of Principal, Interest, Taxes and Insurance costs on a monthly mortgage loan to arrive at the borrower’s total monthly payment. Lenders divide PITI by the borrower’s pretax monthly income to calculate the DTI.


Private Mortgage Insurance is paid by the borrower to protect the lender’s investment when the borrower makes a down payment of less than 20 percent on a home purchase, or when the borrower has less than 20 percent equity in a refinance. On a loan insured by the Federal Housing Administration, the borrower pays a Mortgage Insurance Premium.


Realtor® Association Certified Executive: NAR designation for AEs


Real Estate Owned: Property owned by a lender - usually a bank - after an unsuccessful sale at a foreclosure auction.


Real Estate Settlement Procedures Act is one of the two main pieces of federal legislation that govern mortgage lending to consumers. Among other things, RESPA requires lenders to provide borrowers with a GFE within three days of applying for a loan as well as the HUD-1 at or before closing.


Realtors® Land Institute: affiliate of NAR


Realtor® of the Year


Realtors® Political Action Committee


Realtors® Political Involvement Committee: NAR’s grassroots contact system


Realtor® Political Party Circle: “President’s Circle” Major Donor to RPAC, with commitment of additional donations


Senior Real Estate Specialist: designation offered by NAR’s Seniors Real Estate Specialist Council

Sources: Bankrate.com - go.nvar.com/9chr; realtor.org - go.nvar.com/gxms NVAR Realtor® update

January :: February 2012

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ethics opinion

Presenting and Negotiating Multiple Offers potential purchasers that each will be given a final opportunity to make their best offer result in spirited competition for the seller’s property—or in a table devoid of offers? What is fair? What is honest? What is to be done? Who decides? And why is there not a simple way to deal with these situations? As Realtors® know, there are almost never simple answers to complex situations. And multiple offer presentations and negotiations are nothing if not complex. But, although there is not a single, standard approach to dealing with multiple offers, there are fundamental principles to guide Realtors®. While these guidelines focus on negotiation of purchase offers, the following general principles are equally applicable to negotiation of lease agreements. (Revised 11/01)

“When representing a buyer, seller, landlord, tenant, or other client as an agent, Realtors® pledge themselves to protect and promote the interests of their clients. This obligation to the client’s interests is primary, but it does not relieve Realtors® of their obligation to treat all parties honestly.” (from Article 1 of the 2008 Realtors® Code of Ethics) “Realtors® shall submit offers and counter-offers objectively and as quickly as possible.” (Standard of Practice 1-6) Perhaps no situation routinely faced by Realtors® can be more frustrating, fraught with potential for misunderstanding and missed opportunity, and elusive of a formulaic solution than presenting and negotiating multiple purchase or lease offers and/or counter-offers on the same property. Consider the competing dynamics. Listing brokers are charged with helping sellers get the highest price and the most favorable terms for their property. Buyers’ brokers help their clients purchase property at the lowest price and on favorable terms. Balanced against the Code’s mandate of honesty is the imperative to refrain from making disclosures that may not, in the final analysis, be in a client’s interests. (Revised 11/01) Will disclosing the existence of one offer make a second potential purchaser more likely to sign a full price purchase offer—or to pursue a different opportunity? Will telling several

• Be aware of your duties to your client—seller or buyer— both as established in the Code of Ethics and in state law and regulations. (Revised 5/01) The Code requires you to protect and promote your client’s interests. State law or regulations will likely also spell out duties you owe to your client. • The Code requires that you be honest with all parties. State law or regulations will likely spell out duties you owe to other parties and to other real estate professionals. Those duties may vary from the general guidance offered here. Realtors® need to be familiar with applicable laws and regulations. Be aware of your duties to other parties—both as established in the Code of Ethics and in state law and regulation. • Remember that the decisions about how offers will be presented, how offers will be negotiated, whether counter-offers will be made and ultimately which offer, if any, will be accepted, are made by the seller—not by the listing broker. (Revised 5/01) • Remember that decisions about how counter-offers will be presented, how counter-offers will be negotiated, and whether a counter-offer will be accepted, are made by the buyer—not by the buyer’s broker. (Adopted 5/01) • When taking listings, explain to sellers that receiving multiple, competing offers is a possibility. Explain the various ways they may be dealt with (e.g., acceptance of the “best” offer; informing all potential purchasers that other offers are on the table and inviting them to make their best offer; countering one offer while putting the

Source: NAR Code of Ethics and Arbitration Manual – Appendix IX to Part Four 18 http://go.nvar.com/1201

January :: February 2012

NVAR Realtor® update

ethics opinion

others to the side; countering one offer while rejecting the other offers, etc.). Explain the pluses and minuses of each approach (patience may result in an even better offer; inviting each offeror to make their “best” offer may produce a better offer[s] than what is currently on the table—or may discourage offerors and result in their pursuing other properties). Explain that your advice is just that and that your past experience cannot guarantee what a particular buyer may do. Remember—and remind the seller—that the decisions are theirs to make—not yours, and that you are bound by their lawful and ethical instructions. • When entering into buyer representation agreements, explain to buyers that you or your firm may represent more than one buyer-client, that more than one of your clients or your firm’s clients may be interested in purchasing the same property, and how offers and

counter-offers will be negotiated if that happens. (Adopted 5/01) Explain the pluses and minuses of various negotiating strategies (that a “low” initial offer may result in the buyer purchasing the desired property at less than the listed price—or in another, higher offer from another buyer being accepted; that a full price offer may result in the buyer purchasing the desired property while paying more than the seller might have taken for the property, etc.). (Adopted 5/01) Explain to the buyer that sellers are not bound by the Code of Ethics. Sellers, in multiple offer situations, are not prohibited from “shopping” offers. Real estate brokers may, unless prohibited by law or regulation, “shop” offers. Therefore, Realtors® assisting purchasers in formulating purchase offers should advise those purchasers it is possible that the existence, terms, and conditions of any offer they make may be disclosed to other purchasers by sellers or negotiating, continued on page 34

NVAR Realtor® update

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ask NVAR

A Home To Vouch For The Ins and Outs of Section 8 Housing By Laura Farley, NVAR Staff Attorney

Most real estate professionals are familiar with the term “Section 8 housing,” but few really understand what it means. This primer explains the basics of government assistance for housing rental programs. What is Section 8 housing?

There are a number of government housing programs which offer different types of assistance to individuals with low income. Two primary options exist for people who want to rent: public housing and subsidized housing. Public housing units are those which the government owns, and either operates or has contracted with a third party to operate for it. Subsidized housing programs include Multifamily Subsidized Housing and the Housing Choice Voucher Program (formerly known as “Section 8” – from Section 8 of the United States Housing Act of 1937). Multifamily Subsidized Housing refers to specific properties that are approved by the local housing authority, and the subsidy remains with the property even when tenants change. Under the Housing Choice Voucher Program, individuals or families apply with the local housing authority to receive a voucher which they can use to rent any appropriate available unit. Under this system, the tenants retain the subsidy even if they choose to move to a different property.

Who is eligible for assisted housing?

Each of the assisted housing programs has its own specific qualification requirements, and all programs have income requirements. In general, to qualify for assistance, the household income can be no greater than 80 percent of the area median income. In the Washington Metro area, this means that in 2011, a family of four making $67,600 or less would qualify.

Who is in charge of the Housing Choice Voucher Program?

While the Housing Choice Voucher Program is a federal program, it is administered by local public housing agencies. In Northern Virginia, each city or county has its own public housing agency. The Virginia Housing Development Authority runs the Housing Choice Voucher Program for most of the rest of the state. 20 http://go.nvar.com/1201

Why do I need to know about the Housing Choice Voucher Program?

Nationwide, more than 1.8 million households have received tenant-based voucher assistance from July 2010 to November 2011. In Virginia, almost 43,000 households received tenant-based vouchers during the same period. In the Northern Virginia area, there are nearly 9,000 tenantbased vouchers that are used in Alexandria City, Arlington, Fairfax, Loudoun and Prince William counties. With Housing Choice Voucher Programs so pervasive in Northern Virginia, landlords may want to consider participating. Breakdown of participants by jurisdiction: w Alexandria City: 1,283 w Arlington County: 1,260 w Fairfax County: 3,303 w Loudoun County: 695 w Prince William County: 2,014

What should I tell my clients who are landlords faced with a tenant who is a Housing Choice Voucher Participant?

Many landlords may be wary of individuals participating in the Housing Choice Voucher program, yet there are a number of benefits to accepting these tenants. First, the landlord will receive regular monthly payments directly from the local housing agency. If the tenants’ income is reduced, their portion of the rent will be adjusted and the housing agency will make up the difference. This means that the landlord is guaranteed the full rental amount. Additionally, the local housing agency pre-screens applicants for prior criminal activity, and the agency will work with landlords if any problems arise with the tenant. While the local agency will also screen tenants for compliance with the program requirements, landlords may still screen voucher-holding tenants in the same manner as they would any prospective tenant. Housing Choice Voucher participants are motivated to be excellent tenants because if they are evicted for any reason, they will likely lose their subsidy. This means that these tenants have more than just their security deposit at risk when it comes to lease compliance.

January :: February 2012

NVAR Realtor® update

ask NVAR

Do the landlords give up any rights by accepting a tenant with a Housing Choice Voucher?

No. The landlord can still screen the tenant and require a security deposit, as long as these are done in a manner similar to other applicants. Landlords retain all of their rights as property owners and may set rent at whatever rate they want. Landlords may also request increases in the rent, as long as they are the same as increases for other units, and do not move the unit out of the Fair Market Rent Schedule used by the program. Many local housing authorities, including Loudon County, maintain their own list of property managers in charge of units that are willing and interested in renting to those with vouchers. This provides another, free, source of advertising for these landlords.

What is the process for accepting a tenant with a Housing Choice Voucher?

While most local housing authorities do not maintain a list of units that are certified as having met the stated safety requirements, many do have lists of such properties where the landlord has indicated a willingness to rent to individuals using the Housing Choice Voucher Program. Once a family has approached the landlord and filled out an application, they should be treated like any other applicant – the landlord should perform any background checks that would be conducted for a regular applicant. If the landlord decides to rent to the applicant, together they will fill out a Request for Tenancy Approval which is sent to the local housing authority. The local housing authority will review the request to ensure that the rent charged is in line with similar properties in the area and that the gross rent does not exceed certain caps. If the rent is within acceptable limits, the housing authority will prepare a Housing Assistance Plan, which is a contract between the landlord and the housing authority. This becomes an addendum to the lease. At this point, the housing authority will contact the landlord to set up a Housing Quality Standards Inspection and a time to sign the paperwork. The Housing Quality Standards Inspection must be conducted before the housing authority gives final approval, and again each year that the tenant is in the property. The purpose of the inspection is to check that the plumbing, electric, heating and air conditioning systems are in good working condition, and that there are functioning smoke detectors on each level. NVAR Realtor® update

How is the Fair Market Rent amount determined?

Each year, the Department of Housing and Urban Development establishes the Fair Market Rent rates. VHDA’s payment standards are set at 110 percent of the area Fair Market Rent. This means that if the Fair Market Rent on a onebedroom unit is set at $1,000/month, the landlord can receive up to $1,100/month rent for that unit. In general, the local housing authority will pay up to 70 percent of the monthly rent while the tenant pays the difference.

What happens when a landlord wants to terminate a lease with a tenant who has a Housing Choice Voucher? Are there different standards?

HUD has stated that the landlord may only terminate the lease for four reasons: w Serious or repeated violations of the terms and conditions of the lease; w Violations of federal, state or local law that directly relate to the occupancy or use of the unit or premises; w Criminal activity or alcohol abuse; or w Other good cause. During the initial term of the lease, the landlord is limited in what qualifies as “other good cause” to things that are within the renter’s control. After the initial term of the lease, “other good cause” can include the owner’s desire to use the unit for personal or other use, or for business or economic reasons. For example, during the initial lease, the landlord may only use “other good cause” to terminate a lease for a tenant who has caused a disturbance for neighbors or has living or housekeeping habits that cause damage to the unit. After the initial term, the landlord may terminate the lease for a number of reasons, including the owner’s desire to use the unit for personal use or to rent the unit for more money than the local housing authority will pay.

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legal lines

By Christian Moffitt Attorney, Fox Rothschild LLP

Property Managers Take Note:

Can Management Restrict Families with Children to the First Floor? The Answer is


The Department of Justice recently filed suit against the owners of three apartment complexes in Massillon, Ohio. The government alleges that the owners of three communities engaged in systematic discrimination on the basis of race and familial status. Of course, the Fair Housing Act explicitly forbids such discrimination. In the complaint, the government alleges that the defendants have (1) denied apartments to AfricanAmericans; (2) misrepresented the availability of units to African-Americans; and (3) treated similarly situated AfricanAmerican tenants and Caucasian tenants differently. In addition, the owner of the apartment complex has allegedly discriminated against families with children by refusing to rent them upper level apartments and by restricting them to basement-level apartments. The government’s investigation began as a result of numerous complaints from not only residents, but also the owner’s own property managers. More than 40 years after the enactment of the Fair Housing Act, it should go without saying that apartment owners cannot discriminate against anyone on the basis of color or national origin. Owners and management representatives I know work to fight against such unlawful discrimination. While I always want to hear the other side of the story, even the filing of a lawsuit can have a severe negative impact on an apartment owner’s reputation, not only within his or her local community, but also on a national level. As a result, it’s imperative that all property owners and management take affirmative steps to ensure that discrimination is not occurring on their properties and to implement policies and procedures to comply with the legislation. This case also poses an interesting question – Can property owners discriminate against prospective tenants with small 22 http://go.nvar.com/1201

children by restricting them to lower level apartments? It’s easy to see the lure here. Many property managers have been confronted, oftentimes repeatedly, by the resident of a lower level unit who complains about the noise caused by running and jumping children who live in the apartment above them. And what looks like an easy fix is to simply put children on the lowest floor. While you may sympathize with that solution, however, you must remember the obligations imposed on you by the fair housing laws – you cannot treat a tenant with children differently than a tenant without children. That means that you cannot do what the defendant in this case has allegedly done by sequestering families to lower level units. If the downstairs tenant has a problem with noise, you can address problems as they arise and determine the best way to deal with noise issues on a case-by-case, dayby-day basis. Because if you restrict families with children to first floor units, you might need to speak with a lawyer like me. Just a thought. Reprinted with permission from Fox Rothschild’s Fair Housing Defense blog November 22, 2011 (http://fairhousing.foxrothschild.com) Christian Moffitt is a member of Fox Rothschild’s Fair Housing Defense practice group, practicing from offices located in Blue Bell, PA. The group offers nationwide legal advice to professional management companies, apartment and property owners, and professional management employees regarding the myriad issues that arise as they navigate the complex web of federal, state and local housing fair housing regulations and protections.

January :: February 2012

NVAR Realtor® update

agents need to know

Agents Need to Know 2012 NVAR Realtor® School Course Catalog is Published

NEW! NVAR Updates via Text Have You Opted In?

Plan your 2012 education schedule now!

Stay up-to-date with important notices and events by subscribing for NVAR text message alerts. There are two ways to subscribe, using your phone, or our web-based form.

The NVAR 2012 Realtor® School Course Catalog is now available in both print and e-document form. The 32-page catalog lists all scheduled NVAR classes for 2012, plus instructor bios, policies, registration info, and more. You may pick up a print copy at either the Fairfax or Herndon NVAR offices while supplies last, or download the PDF file at go.nvar.com/2012Catalog.

Important SentriLock Renewal Notice Renewal fees for your Sentrilock keycard are due by Saturday, Jan. 21, 2012. The 2012 renewal fee for Northern Virginia Association of Realtors® members is $131.25 ($125 plus tax). The 2012 nonmember renewal fee is $157.50 ($150 plus tax). For your protection and security, SentriLock does not store credit card data. Thus, they cannot automatically process your payment. Pay your dues via one of the methods listed below: 1. Login to the SentriLock website at http://lb.sentrilock. com and click on the “shopping cart” icon. This will allow you to securely pay online through NAR’s Ecommerce network. Or...

Text NVAR to 81507 - or Go to nvar.com/text-messaging to access the online textmessaging sign-up form. Once you receive a confirmation code by text message, you will need to confirm your subscription by text message, using the code provided. Note: This double-opt-in method prevents spam submissions via web forms. • NVAR is limiting use of this system to five messages per month or less, and you may opt-out at any time. • Standard message rates apply, in accordance with your text message plan. • You may stop this service at any time by texting STOP to 81507, or by managing your subscription at http://oalerts.com/NVARstop. Thanks you for your participation as NVAR explores all available technologies to keep in touch with our membership.

NEW! NAR Member Savings Calculator How much do you save by being a member of NAR? As a Realtor®, $120 of your dues pays for your membership in the NATIONAL ASSOCIATION OF REALTORS®.

2. Next time you update your card via the card reader, click on the link provided. Or... 3. Call SentriLock’s Toll Free number at 1.877.EASY.606 (877-327-9606) to pay via telephone. Please have your SentriCard ready as you will need the number on it to make telephone-based payment. Agents who have not paid by January 31, 2012 will have their SentriCard suspended, and a reactivation fee of $52.50 ($50 plus tax) will be added to the total amount due. Cards suspended can be immediately reactivated via payment to SentriLock by one of the methods outlined above.

In return, you get a whole host of special discounts, free education, news, research, and tools you need to be successful. With all these resources, your national membership quickly pays for itself—if you take advantage of them. A Realtor® who takes advantage of just one benefit in each of the listed categories would save at least $900 a year! Learn more at realtor.org/topics/membership/ calculator/calculator.

If you have any questions, please contact SentriLock tech support department at 1.877.SENTRILOCK (877.736.8745).

NVAR Realtor® update

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realtors速 in the community

, k r o W d b i e V o s , d o oo G G ood Bus G in ess

24 http://go.nvar.com/1201

January :: February 2012

NVAR Realtor速 update

realtors® in the community

By Michele Lerner

Realtors® Offer Help, Hope and Holiday Cheer in Our Communities When Cindy Dwyer, an associate broker with Weichert Realtors® in Vienna, gathered ball gowns to donate to military wives so they could attend the inaugural ball in January 2005, she never dreamed that this one generous act would turn her home into a clothing donation center for years to come. “We had received some coats as well as gowns, and this Marine came up to try on a coat,” says Dwyer. “When I told him it was a woman’s coat, he said ‘I don’t care, I’m cold.’ That’s when I knew I needed to start collecting more clothing.” Dwyer collects only good quality, lightly used clothing, including suits for men who are transitioning into the civilian workforce and need to go on job interviews. Her latest focus is on children’s clothing for the offspring of wounded military members who stay with their parents at Walter Reed National Military Medical Center in Bethesda, where she and about 15 volunteers bring clothing every two months. “My husband hasn’t been able to park his car in the garage in nearly seven years,” says Dwyer, “because I have five 10-foot clothing racks and huge bins of clothing everywhere.” Dwyer’s dedication to helping her community offers a prime example of what thousands of Realtors® in Northern Virginia and around the country do on a daily basis: step in where help is needed. Whether they participate through NVAR, through their office or individually, most Realtors® take pride in their ability to support people in need.

NVAR: Helping Neighbors in Need Donating food and money to the United Community Ministries is just one way that NVAR supports the local community. “Since 2001 we’ve asked our members to bring food or cash to our annual convention and trade show rather than charge them admission,” says Jon Wolford, NVAR Realtor® update

2011 NVAR Secretary/ Treasurer and managing broker of Long & Foster Real Estate in Springfield. Tracy Reynolds, outreach and development manager of NVAR, says the 2011 donation to UCM included $2,100 in cash and 5,800 pounds of food from the October convention. This year, the NVAR Board of Directors voted to donate an additional $10,000 to the organization from the convention’s profits. “NVAR’s official charitable partner is the Graham Road Elementary School, a diverse school near our headquarters where the students speak 80 different languages and many qualify for free or reduced-price lunch,” says Reynolds. “We collect toys and gifts for the kids at the holidays, participate in a bake sale that earns money for school supplies and the NVAR Board donates money to the school.” Since 2009, NVAR has also partnered with Housing & Community Services of Northern Virginia to sponsor HCSNV’s Drumstix Dash, a post-Thanksgiving 8K race at Burke Lake Park. About 40 NVAR members volunteer and participate in the race each year. Coverage and photos from the 2011 event can be found on page 15. “NVAR donates staff time to help coordinate the Drumstix Dash logistics and to promote the event every year,” says Reynolds. “NVAR volunteers are on hand the day of the event to support the fundraiser.” Approximately $10,000 to $12,000 is raised for HCSNV each year by the Drumstix Dash. HCSNV helps prevent foreclosures and assists financially-challenged homeowners and renters with

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realtors® in the community

budget counseling, emergency financial assistance, crisis intervention and searching for affordable housing. In 2011, NVAR members volunteered to paint rooms and make improvements at Homestretch in Falls Church, an organization that helps homeless families rebuild their lives. NVAR members also volunteer at the Arlington Housing Fair and the Northern Virginia Housing Fair each year, offering information about homeownership, including homeownership brochures in multiple languages. Additionally, NVAR partners with the Asian-American Housing Council to provide advertising and donate space for foreclosure prevention programs. NVAR will host its first Red Cross blood drive this year on Monday, January 30. To learn about how to participate, read more on page 33.

Individuals, Families and Companies Combine Efforts to Make a Difference While NVAR supports a variety of initiatives to help others in the community, some Realtors® are nearly as active individually. Dottie Dane, a Realtor® with RE/MAX Allegiance in Burke, and her husband Charles Dane were named “Lord and Lady Fairfax” of the Braddock District in 2011. The couple was recognized for their dedication to community service. “I’m president of the Fairfax chapter of Quilters Unlimited,” says Dane. As a group we donate food to Securing Emergency Resources through Volunteer Efforts (SERVE) for their food baskets, and we give money to a battered women’s shelter. We donate quilts to the shelter and to injured soldiers in Afghanistan. We also collect phone cards, socks and pajamas for the soldiers. Our group donated 24 quilts to Habitat for Humanity and also donated quilts for ‘Project Linus’ that are used to comfort sick children at Children’s National Medical Center.” Dane is also active with the Philanthropic Educational Organization, which supports education for women and has established a $1,000 scholarship to be given to a Northern Virginia girl each year. Through her office, Dane gives to the Susan G. Komen Race for the Cure and also donates a portion of

26 http://go.nvar.com/1201

every transaction to the Children’s Miracle Network, which supports Children’s National Medical Center in Washington, D.C. The RE/MAX organization is no stranger to philanthropy. Since 1992, RE/MAX has supported Children’s Miracle Network Hospitals, helping to raise more than $100 million. Many RE/MAX agents partner with the organization to donate a portion of each transaction to the charity. RE/MAX is also a national partner of the Susan G. Komen Race for the Cure. Melinda Reinertson-Schnur, a Realtor® with RE/MAX Allegiance in McLean, and her husband Jason have raised more than $10,000 for the Children’s Miracle Network during the past four years. “Our son, who recently turned four, was born with a rare birth defect and has had multiple surgeries,” says Reinertson-Schnur. “We are so blessed to still have him with us today. As a result of our experience, we’ve done our best to support the Children’s Miracle Network, which supports research in children’s diseases and gives funds to local hospitals for long-term patients.” Jason Schnur has been the top individual fundraiser in the Children’s Miracle Network Cherry Blossom Race in recent years and Reinertson-Schnur donates a portion of every transaction to the Children’s Miracle Network. ReinertsonSchnur says RE/MAX Allegiance is one of the largest contributors to the charity. Debbie Wicker, an associate broker with RE/MAX Allegiance in Ashburn, contributes automatically with each transaction to the Children’s Miracle Network, but also hosts an annual “Party with a Purpose” to support the organization. “Last year we raised $3,500 from the party for the Children’s Miracle Network through a silent auction and a raffle,” says Wicker. “We had lots of donations of silent auction items from clients and friends.” Coldwell Banker Residential Brokerage has a fundraising arm known as “CB Cares,” which uses money raised by individuals and offices to donate to non-profit organizations. “We try to stick with local, grassroots organizations that will truly benefit from a donation of $2,000 to $4,000 rather than donating to big organizations,” says Ruth Papuchis, regional vice president of Coldwell Banker Residential Brokerage. “We have a committee that meets quarterly to look into the financials of different groups and to listen to the recommendations of various Realtors®.”

January :: February 2012

NVAR Realtor® update

realtors® in the community

While some local Coldwell Banker offices donate all of their fundraising efforts to CB Cares, others split their donations between their own local non-profits and CB Cares. Papuchis estimates that CB Cares in the Washington, D.C. and Baltimore region raises $75,000 each year. The corporate office of Coldwell Banker in Reston holds an annual golf tournament just after Labor Day to raise money. The Vienna Coldwell Banker office is known for its generous charitable contributions to CB Cares in addition to local groups. “Last year we chose to donate to Doorways for Women and HomeAid of Northern Virginia as well as CB Cares,” says Mark Ackerman, branch vice president of the Vienna Coldwell Banker office. “We have a luncheon every year at Outback Steakhouse with a silent auction and raffle items collected by our agents. We raised $11,000 at the lunch this year.” Realtors® from the Vienna Coldwell Banker office mentor children at Louise Archer Elementary School, hold a blood drive at their office each year and collect an average of 7,000 toys each year for Toys for Tots. The office participates in the American Heart Association Heart Walk and actively assists Alternative House shelter for teens in Vienna, including buying coats, gloves and other items as gifts. “No matter what I ask them to do, this office just jumps in,” says Ackerman. “Since I took over five years ago I’ve been so aware that supporting the community is just part of the fiber of this office. Just this morning, one of our Realtors®, Lisa Moffett, came in to ask for support for a family that had been displaced because of some kind of fungus in their home. Every item of their furniture and clothing has to be replaced, and our whole office just immediately stepped up to get involved to help them.” At Long & Foster in Springfield, the office has an annual community service day in which the agents choose a local person or group that needs help. “Last year, we did landscaping at Garfield Elementary School, where we started a non-profit fund for the school so that we can support them all year,” says Wolford. “There are lots of children in that school who come from shelters, so we contribute every way we can to make sure the teachers have money they can use to buy them shoes or whatever they need.”

“Each year, I come in on the morning of Christmas Eve and gather up the last minute drop-offs to take them to a shelter.” – Jon Wolford, Long & Foster–Springfield Connections® vendor fair. A moving van is donated to help deliver toys to foster children whose cases fall under the care of Fairfax County. Many agents also support shelters for abused women and children and help the families take the next step to find a place to live. “We always collect toys for Toys for Tots, and often people will drop toys off just before Christmas,” says Wolford. “Each year, I come in on the morning of Christmas Eve and gather up the last minute drop-offs to take them to a shelter.” Wolford and his agents also collect food for “Our Daily Bread,” a local food bank, and then many of them volunteer to sort the food and deliver it to various locations. Bob Adamson, an associate broker with McEnearney Associates in Arlington plans to host a golf tournament in 2012 to support Children’s National Medical Center. He also participates in the Drumstix Dash each year and gathers dozens of participants for the annual Walk to Defeat ALS. “I’ve recruited other Realtors® to participate in the ‘Santa Jam’ each year at the State Theatre,” says Adamson. “A lot of musicians perform to raise cash plus truckloads of toys for kids in homeless shelters.” Donna Henshaw, an associate broker with Avery-Hess Realtors® in Tyson’s Corner, has taken fundraising to the extreme several times since 2004 by shaving her head to raise money for St. Baldrick’s Foundation, which provides money for children’s cancer research. “I got involved when a friend’s child was diagnosed with a tumor,” says Henshaw. “Since that time my two daughters have also shaved their heads to raise money. In 2007, all three of us shaved at the same time.”

Wolford says they typically fill a room with gifts for the students each holiday season.

Henshaw says that as a family they’ve raised more than $100,000 for St. Baldrick’s Foundation.

“The gifts are good for a day, but the non-profit helps them all year,” says Wolford. “We’ve probably given them more than $10,000 over the years.”

“We all do all we can to help our community and to reach out to our clients for help,” says Wolford. “We do it because it feels good to help our community but also as a soft way to stay in touch with people. Besides, you can never be unhappy when you are helping someone else.”

Agents at the Springfield Long & Foster office also collect toys from vendors and visitors at its Home Service

list of organizations found on page 36 NVAR Realtor® update

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FHA myths & facts

Myths and Facts about the FHA Loan Limits Myth: FHA Will Soon Need A Federal Bailout

losses could prompt new calls for the FHA to take steps to reduce [its] role in the markets, housing [analysts] warn those steps could be counterproductive if they prevent qualified borrowers from accessing credit.”

FACT: The Fiscal Year 2011 actuarial review shows a slight decline in capital reserves. However, it is important to note that this is NOT FHA’s only reserve fund. The capital reserves reflect the reserves available after paying expected claims and expenses. FHA’s current cash reserves total $33.7 billion – a $400 million increase from one year ago. These reserves are fully capitalized to pay 30 years’ worth of expected claims and losses. By comparison, the Financial Accounting Standards Board only requires private financial institutions to hold reserves for losses over the next 12 months. FHA has 30 times that amount in its cash reserves, plus another $2.55 billion in the excess capital reserves. The 2011 actuarial review states that, “On net, the economic value of the Mutual Mortgage Insurance Fund (MMIF) in future years has increased significantly due to the new, higher forecast of house price growth.” It is anticipated that FHA will again reach the 2 percent excess reserve requirement by 2014. MYTH: FHA IS EXPERIENCING HIGH DEFAULTS AND FORECLOSURES

FACT: FHA’s ‘seriously delinquent’ rate for loans originated in the last two years declined to 1.9 percent. FHA has said this is the lowest ‘seriously delinquent’ rate in the history of the Neighborhood Watch system, which originated in 1999. FHA’s total delinquency rate is now at the lowest level in more than five years.

28 http://go.nvar.com/1201


Furthermore, FHA’s credit quality has improved steadily since 2007. More than 50 percent of FHA loans made in every quarter since 2009 (2nd quarter) had credit scores above 680. Thirtyfive percent of FHA borrowers in 2010 and 2011 (first half) had credit scores above 720. MYTH: THE ACTUARIAL REVIEW SHOWS FHA IS IN SERIOUS TROUBLE

FACT: The actuarial review is a “snapshot” of the portfolio at a particular point in time. It estimates how the portfolio will perform in a run-off scenario over the next 30 years. Accordingly, an actuarial review is highly dependent on projections about the future economic environment, particularly house price projections. According to the review, “Both the economic value and the IIF (insurance in force) of the Fund are expected to increase each year over the next seven years.” Even the Wall Street Journal (11/15/11) reports that “the independent audit shows that loans made over the last two years are performing far better and are expected to be profitable. While rising

January :: February 2012

FACT: The FY11 actuarial review actually shows the opposite to be true. The review states, “FHA experience indicates that more expensive houses tend to perform better compared with smaller houses in the same geographical area, all else being equal.” MYTH: FHA IS NOT SERVING ITS MISSION

FACT: In 2010, FHA was used by 56 percent of all first-time homebuyers, and 60 percent of all African-American and Hispanic homebuyers. In addition, 85 percent of borrowers obtaining homes at the higher loan limits had incomes below $150,000, and nearly 65 percent had incomes less than $100,000. MYTH: EXTENDING THE LIMITS WILL SERVE MILLIONAIRES BUYING McMANSIONS

FACT: Although some have argued this provision provides financing only for high-cost markets, more than 100 counties throughout the Midwest and more than 200 counties in the South experienced declines averaging more than $64,000. The majority of markets that were impacted by the loan limit decline are NOT high cost. Source: National Association of REALTORS®. Reprinted with permission.

NVAR Realtor® update

tips for success

Top Tips for Reaching the Tip Top in 2012 Forum Speakers Share Their Wisdom By Ann Gutkin, NVAR Communications & Media Relations Manager

A good first step, Ryan suggests, is to make an appointment with yourself for a little bit of introspection about what you would like to accomplish. “In a perfect world, jot down these accomplishments, then jot down mini steps to help you reach them.” Forum attendee Irene Schiffman found value in Ryan’s advice. “She was personable, believable and enthusiastic – and her handout was easy to follow,” Schiffman said. “It’s back to basics, with a disciplined approach.”

Prospecting for Real Estate Gold In a client-driven business, prospecting is a must-have skill. Boomer Foster, Long and Foster Regional Manager for Northern Virginia and West Virginia, offered his perspective on finding new business. Citing all of the places an agent can look to generate business in 2012, Foster recommended that Realtors® focus on their sphere, high impact prospecting (expireds, withdrawns and FSBOs), low impact prospecting (floor duty, open houses, farming geographic areas) and the web.

If it’s true that “success is when preparation meets opportunity,” then attendees at this past November’s Vietnamese Forum should be well-positioned for a banner 2012. Three seasoned pros shared their strategies for goal-setting, prospecting and maintaining client relationships. Leading off with an interactive goal-setting session, associate broker Kate Ryan of Long & Foster in McLean, described her Buffini-inspired system for success. A Realtor® since 1989, Ryan says that she has been the recipient of many great bits of wisdom and advice. Ryan advocates creating a short-term path that will lead to long-term goals. “Learn how you’re wired, and then lean into your gifts,” she said. For her, writing down many specific short- and mid-term goals makes it easier for her to achieve her long-term objectives. She recommends reading, One Small Step Can Change Your Life: The Kaizen Way, a book that advocates effecting lasting change through small step-by-step actions. 30 http://go.nvar.com/1201

“There are multiple ways to skin the (real estate) cat,” Foster said. “Whether an agent chooses one or a combination of these ways, the most important piece is to develop a system and to execute that system consistently every day. The system should enable the agent to keep track of the contacts made and should also ensure accountability for consistent follow up.” Urging Realtors® to contact their sphere at least once every month, while keeping in mind the preferred form of contact for different generations was advice that resounded with forum attendee Gerda Gaetjen of RE/MAX Allegiance in McLean. “I revised my list based on his suggestions,” Gaetjen said.

Keep in Touch with the Right ‘Client Touch’ After goals are set, and leads are closed, Realtors® must continue to follow up with appropriate “client touch” to maintain their base. Suzanne Granoski of Keller Williams in Alexandria shared her ideas about how to remain in her clients’ minds long after a transaction has closed. “Take notes while talking to clients,” Granoski said. “Remembering them on their

January :: February 2012

NVAR Realtor® update

tips for success

“In a perfect world, jot down these accomplishments, then jot down mini steps to help you reach them.” – Kate Ryan, Long & Foster McLean special days helps to deepen the relationship.” Sending a gift on the anniversary of a closing is one technique that Granoski recommends. She often gives her clients a board game that they can use for family game night. She tries to purchase them in bulk when they are on sale so that she always has them on hand. “Suzanne gave me some great ideas for pop-bys and client gifts for the holidays,” Gaetjen said.

Set a Course for Success Using the tips posed by these three industry pros can set a course for success in 2012. “The bottom line is to treat this business like a business,” Foster said. “If you treat it like a hobby, it will be reflected in your pay check (or lack thereof).” Plans are underway for other NVAR forum programs designed to keep Realtors® at the top of their game. If Gaetjen’s response is any indication, those offerings will draw a strong following. “I am glad I attended this presentation, and look forward to another great learning opportunity,” she said. Be sure to visit nvar.com and follow your NVAR eNews and CareerLink emails to learn about all of the upcoming programs on tap for 2012.

We Want to Hear from You! Send us your letters to the editor

NVAR values your feedback. Please send us your comments about our editorial content or industry issues. Please include full first and last names, address and daytime phone number. Unsigned letters will be discarded. The NVAR Update magazine staff reserves the right to edit letters for any reason, including taste, clarity and length. Please e-mail your Letters to the Editor to UpdateMagazine@nvar.com. Due to space constraints, we will not be able to publish every submission.

NVAR Realtor® update

January :: February 2012

http://go.nvar.com/1201 31

in memoriam

NVAR Remembers Dedicated Realtors® Mary Margaret ‘Sandy’ Augliere NVAR’s only practicing nonagenarian Realtor® died on Thursday, November 24, 2011 at age 95. An active member until 2010, Sandy Augliere was an associate broker with Long & Foster in Falls Church/Lake Barcroft. She joined NVAR in 1965, and became a Life Member of the Top Producer and Million Dollar Sales Clubs. Augliere was featured in the November 2006 issue of Update, available online at go.nvar.com/augliere.

Champlin ‘Champ’ Buck A dedicated member of the Realtor ® family, Champlin “Champ” Buck of McEnearney Associates in McLean, died following a long illness on Saturday, December 17. Buck joined NVAR in 1993 and worked as a team with his wife Patricia Buck. He was active in the association’s legislative events and never missed an opportunity to promote Realtor® issues to elected officials. He was also a faithful NV/RPAC contributor during his years with NVAR.

In addition to her full-time real estate career, which she began at age 41, Augliere was also a musician, master bridge player and world traveler. One of the first women in Northern Virginia to start her own real estate firm, Augliere was an early supporter of fair housing laws that helped to integrate Northern Virginia neighborhoods. The Fair Housing Board of Fairfax County issued her a certificate of appreciation in 1974. Born in Raleigh, North Carolina, Augliere moved to Northern Virginia in 1947. She is survived by children, Noel Marts, Reed Augliere and Thomas Augliere.

and they have had a wonderful, life-long love story. As tough as this news is, we can celebrate a life well lived by a truly great guy. “ On March 15 at 1 p.m., a funeral service will take place in Ft. Myer’s Old Post Chapel. A graveside service in Arlington National Cemetery will follow. Final details will be posted on nvar.com.

Before entering real estate, Champ had a long career in the military. He attended Lehigh University prior to entering the United States Military Academy at West Point. Following his graduation in 1957, he received his Master of Science in electrical engineering degree from the Georgia Institute of Technology. After that, he returned to a teaching assignment at West Point. He served our country in the Vietnam War and retired as an Army Colonel. Following his military service, he worked for the McLean Research Center and the Wackenhut Applied Technology Center performing defense and security systems analysis. Said David Howell of McEnearney, “Those of us in the McEnearney McLean office, and many, many in the company and in the industry have incredibly fond and happy memories of Champ. He was a loving husband, father, grandfather, son, friend, leader, decorated Army Colonel and Vietnam War vet and so much more. “I have had the pleasure of knowing the Bucks for over 30 years, and I know we all share in Pat’s sadness. Pat and Champ were introduced to each other by their parents 60 years ago [in the same week in December that he died], 32 http://go.nvar.com/1201

January :: February 2012

NVAR Realtor® update

NVAR blood drive

Give the Gift of Life: Plan to Donate Blood on January 30 at NVAR Fairfax Outback Steak House to Provide Free Lunch to Donors

Every two seconds, someone in the U.S. needs blood. Each unit of blood donated can help save as many as three lives. Only three out of every 100 people actually donate blood. You can help to boost this percentage by donating blood at the NVAR blood drive on Monday, January 30.

Come to the NVAR Fairfax Headquarters, 8407 Pennell St., between 11 a.m. and 5 p.m., take the necessary steps to become a donor, and you will receive a FREE LUNCH donated by the Outback Steak House. Help us achieve our collection goal of 40 units of blood! For questions, or to make an appointment, please contact Gerie Kruchko at 703.207.3200, email gkruchko@nvar.com or visit redcrossblood.org.

NVAR Realtor速 update

January :: February 2012

http://go.nvar.com/1201 33

negotiating, continued from page 19

by sellers’ representatives except where such disclosure is prohibited by law or regulation. (Adopted 5/05) Remember—and remind the buyer—that the decisions are theirs to make—not yours, and that you are bound by their lawful and ethical instructions. (Adopted 5/01) • If the possibility of multiple offers—and the various ways they might be dealt with—were not discussed with the seller when their property was listed and it becomes apparent that multiple offers may be (or have been) made, immediately explain the options and alternatives available to the sellers—and get direction from them. • When representing sellers or buyers, be mindful of Standard of Practice 1-6’s charge to “. . . submit offers and counteroffers objectively and as quickly as possible.” (Revised 5/01) • With the seller’s approval “...divulge the existence of offers on the property” consistent with Standard of Practice 1-15. (Adopted 11/02) • While the Code of Ethics does not expressly mandate “fairness” (given its inherent subjectivity), remember that the Preamble has long noted that “. . . [the term] Realtors® has come to connote competency, fairness, and high integrity. . . .” If a seller directs you to advise offerors about the existence of other purchase offers, fairness dictates that all offerors or their representatives be so informed.

34 http://go.nvar.com/1201

• Article 3 calls on Realtors® to “. . . cooperate with other brokers except when cooperation is not in the client’s best interest.” Implicit in cooperation is forthright sharing of information related to cooperative transactions and potential cooperative transactions. Much of the frustration that occurs in multiple offer situations results from cooperating brokers being unaware of the status of offers they have procured. Listing brokers should make reasonable efforts to keep cooperating brokers informed. Similarly, buyer brokers should make reasonable efforts to keep listing brokers informed about the status of counteroffers their seller-clients have made. (Revised 5/01) • Realize that in multiple offer situations only one offer will result in a sale and one (or more) potential purchasers will be disappointed that their offer was not accepted. While little can be done to assuage their disappointment, fair and honest treatment throughout the process; coupled with prompt, ongoing and open communication, will enhance the likelihood they will feel they were treated fairly and honestly. In this regard, “. . . Realtors® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, ‘Whatsoever ye would that others should do to you, do ye even so to them.’ ” (from the Preamble to the Code of Ethics). (Revised 5/05) © NATIONAL ASSOCIATION OF REALTORS® All Rights Reserved

January :: February 2012

NVAR Realtor® update

NVAR Realtor速 update

January :: February 2012

http://go.nvar.com/1201 35

Community, continued from page 27

You Can Help D Alternative House: thealternativehouse.org D American Heart Association Heart Walk: heartwalk.org D American Red Cross: redcross.org D Children’s Miracle Network: childrensmiraclenetworkhospitals.org D Children’s National Medical Center: childrensnational.org D Doorways for Women: doorwaysva.org D Garfield Elementary School: fcps.edu/GarfieldES D Graham Road Elementary School: fcps.edu/GrahamRoadES D Habitat for Humanity: habitatnova.org D HomeAid of Northern Virginia: homeaidnova.com D Homestretch: homestretch-inc.org D Housing & Community Services of Northern Virginia: hcsnv.org

36 http://go.nvar.com/1201

Visit these websites to learn more about the organizations mentioned in the cover story.

D Louise Archer Elementary School: fcps.edu/LouiseArcherES D Our Daily Bread: odbfairfax.org D Philanthropic Educational Organization: peointernational.org D Project Linus: projectlinus.org D Quilters Unlimited: quiltersunlimited.org D Santa Jam: santajam.org D SERVE (Securing Emergency Resources through Volunteer Efforts; merged with Northern Virginia Family Services in 2009): nvfs.org

D St. Baldrick’s Foundation: stbaldricks.org D Susan G. Komen Race for the Cure: komen.org D Toys for Tots: toysfortots.org D United Community Ministries: ucmagency.org D Walter Reed National Military Medical Center: bethesda.med.navy.mil

January :: February 2012

NVAR Realtor® update

Low Home Prices, Mortgage Rates Keep Affordability High in Northern Virginia

A. Demographic: Recent Buyers 2011 National Profile 2011 NoVA Profile Median Age


Gross Household Income $80,900 Household Composition

Own a 2nd Home

39 $118,250

64% married couples

65% married couples

18% single females

16% single females

10% single males

10% single males

7% unmarried couples

7% unmarried couples


22% Source: NAR Research

B. Best Affordability Conditions

Northern Virginia’s market conditions now suggest it is an excellent time to buy a house, either to live in for the long term or for investment income. To see how local buyers compare to buyers at the national level, see Chart A. Note the 46 percent higher gross household earnings of Northern Virginia recent buyers. When mortgage rates are taken into consideration, houses are the most affordable they have been in decades.

Source: NAR Research

NVAR Realtor® update

If a prospective homebuyer has good credit, a job and a down payment, he or she can qualify for a mortgage. Chart B profiles the nation’s affordability index of the past 41 years.

January :: February 2012

http://go.nvar.com/1201 37

government affairs

Nearly a Clean Sweep

NV/RPAC Support a Common Feature among Northern Virginia’s Winning Candidates By Lisa Vierse May, NVAR Government Affairs Manager

We are the 98 percent. No, that’s not the slogan of “Occupy Wall Street” members. It could, however, be the mantra of Northern Virginia’s elected officials as they take office this January, buoyed by the support of your Northern Virginia/Realtors® Political Action Committee. NV/RPAC-endorsed candidates were successful in nine out of 10 Senate of Virginia races, in all 23 House of Delegates races, and in all nine Fairfax County Board of Supervisors races, for an overall NV/RPAC success rate of 97.6 percent. It is an impressive figure, especially when

38 http://go.nvar.com/1201

considering that Northern Virginia contests were more competitive than those in the rest of the state. All area Senate races featured candidates from both major parties, as did six of the 10 Fairfax Board of Supervisors races. House races featured both Republicans and Democrats in nearly 35 percent of the contests. While that number may sound bleak, it is far more spirited when compared to the dismal 27 percent of House races contested statewide. November’s elections also featured some narrow victories by NV/RPAC-endorsed candidates. While the Senate contests were predicted to be the nailbiters, all of those victors enjoyed final margins of seven points or more against their opponents. More surprising were the results in the House and Fairfax County Board. Businessman David Ramadan (R)

January :: February 2012

NVAR Realtor® update

government affairs

defeated Mike Kondratick (D) by just 51 votes (0.4 percent) in the new 87th House District in Loudoun County, and incumbent Fairfax County Supervisor John Cook (R-Braddock) held off challenger Janet Oleszek by 370 votes out of more than 25,000 votes cast. The sole NV/RPAC loss came when former Delegate Dick Black (R) defeated small business-owner Shawn Mitchell (D) in the new 13th Senate seat located in Loudoun and Prince William. Endorsements were not made in four races: one in the House, one in Fairfax County and two in Arling ton County. Looking forward, 2012 will also be a busy election year in Virginia. Residents in Arlington will have a special election early in the year to fill a county board seat vacated by Barbara Favola, who was elected to the Senate of Virginia. This will be followed in the fall by federal-level races for President, Senate and House of Representatives, in addition to local elections for Alexandria City Council and Arlington County Board. NV/RPAC will evaluate candidates for these local races, while providing feedback to VAR and NAR on the Congressional races. The NV/RPAC endorsement decisions are made by an 11-member panel of Realtors® who serve as the PAC’s Trustees. Those endorsements were made based only on a candidate’s support of real estate issues. You may read more about the endorsement process on the NV/ RPAC FAQ page on nvar.com, and view the list of election results for our endorsed candidates.

Update Name Change Update Special thanks to all who responded to the call for new name suggestions for Update magazine. We received more than 50 excellent entries. While change may be good, it is not always easy! Because this is a significant decision, it is one that deserves serious deliberation. Once a final decision is reached, we will notify contest entrants and the NVAR membership. So stay tuned in to your NVAR e-Newsletters, Matrix and NVAR.com to learn more. NVAR Realtor® update

January :: February 2012

http://go.nvar.com/1201 39

NV/RPAC contributor list

2012 NV/RPAC Contributors List (as of December 14, 2011)

Golden R ($5,000)

John McEnearney

Crystal R ($2,500)

Jane Quill

Sterling R ($1,000)

Tracy Comstock Virgil Frizzell Margaret Handley Karen Kidwell Muraji Nakazawa Anne Rector Fetneh Schacht

Governor’s Club ($500)

Moon Choi Lauren Kivlighan Thai-Hung Nguyen Rebecca Owen Karen Trainor Jon Wolford

Capitol Insider ($250)

Russell “Tom” Boyle Siu Cheung Heather Embrey Nicholas Lagos Ali Mansouri Kimberly McClary Esin Reinhardt Mario Rubio Audrey Shay Jonathan Spinetto Jake Sullivan

40 http://go.nvar.com/1201

$99 Club

John Adams Rafael Aguilera Nancy Alert Are Andreson Kannan Annamalai Lorraine Arora Augusto Arostegui Gay Ashley James Atkins III Thomas Baker Barbara Bechtle James Bell Thomas Bellanca Charles Bengel David Billups Anne Blaicher Phil Bolin Jesse Braudaway Joan Bready Michael Briggs Jeanne Brown Susan Browning William Buck Shirley Buford Jan Chang Lin Chen Ya-Ting Chen Josh Choe Louis Cironi Candyce Clanton Tracy Comstock Georgiana Copelotti Janet Croft Theodore Dang Michael Day Bic DeCaro Stephen De Falco Munirshah Dellawar Jenny Dewenter Leslie Dickemann David DiMattina Eileen Dubose

Kathleen Eaton Michele Forbes James Fox Paul Gale Christal Golston Brandon Green Christopher Guldi Stephen Hales Julie Hall Rebecca Hanrahan Melinda Hanson Anne Harrington Shawn Harris Janet Hewitt Paul Hogge Leamon Howell Ruth Howell Guo Michael Huang Leslie Hutchison Margaret Ireland Rosemarie Johnson Lynne Jones Tammy Jones Lilian Jorgenson Eui Kang Kristen Kelly Brian Klotz Robert Koenig Subba Kolla Rolfe Kratz Cindy Lancaster William Lauler Doris Leadbetter Diane Lee Francis Lee James Lee Kevin Lee Sherri Lee Ashley Leigh Diane Lenahan Roberta Letkiewicz Sonia Lieberman Lisa Lieu

January :: February 2012

Scott MacDonald Ann Malcolm Sandra Mason John McAllorum Natalie McArtor Richard McCaffrey Ann McClure Pamela McCoach Edward Mead III David Michalski Puran Mittal Priscilla Moore Diane Murphy Allene Murray Patricia Nassief James Nellis Phi Nguyen Truc Nguyen Barbara Noll Maureen O’Hara Peggy Oremland Patrick Page Eleanora Panizza Lindsay Peake Julie Pearson Brunhilda Peters Jerry Petitt James Phillips Mary Pilgrim Gwenda Plush Richard Pruitt Shoeleh Rahnama Christine Richardson Katreen Rinaldi Bonnie Rivkin Mike Rokni David Rosenmarkle Elizabeth Ross Terence Ryan John Sabo Paul Saltz Jesse Sampson Sarah Santa Ana

Tazuko Schmitz Terry Seaman Alba Serrano Jay Seville Linwood Shelton Carol Simmons Suzanne Simon Maureen Simpson Monica Sims Anise Snyder E. Jame Souvagis James Stakem Jane Stottlemyer Spencer Stouffer Jeffrey Surdyk Carol Sutfin Swindell Sutton David Sweet Patricia Sykes Jonathan Taylor Brian Terrebonne Gregory Tomlin Kathleen Trainor Trong Trinh Rajiv Vashist Sanjiv Vashist Virgilio Vasquez Sridhar Vemuru Mary Whitlock Kevin Wiles Sandra Wilkinson Ann Wilson Christina Wood Holly Worthington Felicia Wu Laura Yi Alla Yun Yili Zhang Louise Zinzi Benjamin Zurun

NVAR Realtor® update

multi-million $ sales Statement of Ownership, Management and Circulation (10/2011) Original Filed: September 28, 2011; Revision Filed: December 8, 2011 Published: January/February 2012 Issue

REALTOR® Update Magazine (Publication Number 006-429; ISSN No. 10988475) is owned and operated by the Northern Virginia Association of REALTORS® (NVAR), located at 8407 Pennell St., Fairfax VA 22031-4601. The publisher is Christine M. Todd, Chief Executive Officer, the editor-in-chief is Jill M. Landsman, Vice President of Communications & Media Relations, and the managing editor is Ann Gutkin, Communications & Media Relations Manager, all of whose offices are also located at 8407 Pennell St., Fairfax VA 22031-4601. NVAR operates as a not-for-profit organization, a form of operation that has not changed during the last 12 months. The magazine is published monthly with six issues published per year. There are combined issues in the months of January/February, March/April, May/June, July/August, September/October and November/December. The annual subscription rate is $19 for NVAR members and $39 for non-members. Circulation information provided for this notice is based on the September/October 2011 issue.

Average No. of Copies Each Issue During Preceding 12 Months

No. of Copies of Single Issue Nearest to Filing Date

Total Number of Copies



Paid Circulation

Outside County







Extent/Nature of Circulation

Inside County Outside Mail (Dealers, Counter Sales, Street Vendors, etc.) Other Mail Classes via USPS Free or Nominal Rate Distribution





Outside county



Inside County







Total Paid Distribution

Other Mail Classes via USPS

Total Distribution

Outside Mail Total Free or Nominal Rate Distribution





Copies Not Distributed






Percent Paid



Signed – December 7, 2011 Jill Parker Landsman, Update Editor-in-Chief

NVAR Realtor® update

January :: February 2012

http://go.nvar.com/1201 41

class schedules

GRI Graduates

w Irene Curry w Susan O’Connor w Long K. Hoang

ABR Graduates w

Christopher Feord

Continuing Education

Continuing Education

Fairfax Headquarters









16 hr CED - Day 1

8:45 a.m. - 4:45 p.m.


16 hr CED - Evening (part 1A)

6 - 9:30 p.m.


16 hr CED - Day 2

8:45 a.m. - 4:45 p.m.


16 hr CED - Evening (part 1B)

6 - 9:30 p.m.


Broker CE : Brokerage Risk and Liability

8:45 a.m. - 12:25 p.m.


16 hr CED - Evening (part 2A)

6 - 9:30 p.m.

Broker CE : Productive Agents and Offices


16 hr CED - Evening (part 2B)

6 - 9:30 p.m.


1 - 4:45 p.m.


CED: 8 hr Mandated Course

8:45 a.m. - 4:45 p.m.


Broker CE : Brokerage Risk and Liability

8:45 a.m. - 12:25 p.m.


CED: New Rules of RE Finance

8:45 a.m. - 12:25 p.m.


Broker CE : Productive Agents and Offices

1 - 4:45 p.m.


CED: Detection and Prevention of Contract Fraud

1 - 4:45 p.m.


CED: 8 hr Mandated Course

8:45 a.m. - 4:45 p.m.


16 hr CED - Day 1

8:45 a.m. - 4:45 p.m.


CED: Green Building Course

8:45 a.m. - 12:25 p.m.


16 hr CED - Day 2

8:45 a.m. - 4:45 p.m.


CED: Buyer Beware - Foreclosed and Neglected Properties

1 - 4:45 p.m.


16 hr CED - Evening (part 1A)

6 - 9:30 p.m.


16 hr CED - Evening (part 1B)

6 - 9:30 p.m.


16 hr CED - Evening (part 1A)

6 - 9:30 p.m.


16 hr CED - Evening (part 2A)

6 - 9:30 p.m.


16 hr CED - Evening (part 1B)

6 - 9:30 p.m.


16 hr CED - Evening (part 2B)

6 - 9:30 p.m.


16 hr CED - Evening (part 2A)

6 - 9:30 p.m.


CED: 8 hr Mandated Course

8:45 a.m. – 4:45 p.m.


16 hr CED - Evening (part 2B)

6 - 9:30 p.m.


CED: Agency & Disclosure

8:45 a.m. – 12:25 p.m.


Broker CE : Brokerage Risk and Liability

8:45 a.m. - 12:25 p.m.


CED: New Rules of RE Finance

1 – 4:45 p.m.


Broker CE : Productive Agents and Offices

1 - 4:45 p.m.


16 hr CED - Day 1

8:45 a.m. - 4:45 p.m.


16 hr CED - Day 2

8:45 a.m. - 4:45 p.m.

D.C. Continuing Education Fairfax Headquarters DATE



Broker Pre-Licensing


DC Fair Housing and DC Financing Issues

9 a.m. - 4:15 p.m.

Fairfax Headquarters


DC Fair Housing and DC Legislative Update

9 a.m. - 4:15 p.m.





Broker Appraisal: Day 1

9 a.m. - 5 p.m.


Broker Appraisal: Day 2

9 a.m. - 5 p.m.


Broker Appraisal: Day 3

9 a.m. - 5 p.m.


Broker Appraisal: Day 4

9 a.m. - 5 p.m.


Broker Appraisal: Day 5

9 a.m. - 5 p.m.


Broker Appraisal: Day 6

9 a.m. - 5 p.m.

42 http://go.nvar.com/1201

To register for a course listed or view a class description, visit RealtorSchool.com

January :: February 2012

NVAR Realtor® update

class schedules

Post Licensing

Featured Offerings

Fairfax Headquarters









Accredited Staging Professional - Day 1

8 a.m. - 5 p.m.



New Member Orientation

9 a.m. - 4 p.m.


Accredited Staging Professional - Day 2

9 a.m. - 5 p.m.


New Member Orientation

9 a.m. - 4 p.m.



New Member Orientation

6 - 9:30 p.m.


Accredited Staging Professional - Day 3

9 a.m. - 5 p.m.



Post Licensing (Day 1) - What’s In a Contract & Real Estate and Contract Law

9 a.m. - 4 p.m.


Post Licensing (Day 2) - Agency Law & Ethics

9 a.m. - 4 p.m.


Post Licensing (Day 3) - Fair Housing & Business Planning 101

9 a.m. - 4 p.m.


Post Licensing (Day 4) - Listing Property and Working with Sellers

1 - 5 p.m.

Post Licensing (Day 5) - Working with Buyer Clients and Marketing with Technology

8:45 a.m. - 4:45 p.m.





New Member Orientation

9 a.m. - 4 p.m.


Post Licensing (Day 1) What’s In a Contract & Real Estate and Contract Law

9 a.m. - 4 p.m.


Post Licensing (Day 2) Agency Law & Ethics

9 a.m. - 4 p.m.


Post Licensing (Day 3) - Fair Housing & Business Planning 101

9 a.m. - 4 p.m.


Post Licensing (Day 4) - Listing Property and Working with Sellers

1 - 5 p.m.


Post Licensing (Day 5) Working with Buyer Clients and Maketing with Technology

8:45 a.m. - 4:45 p.m.


New Member Orientation

9 a.m. - 4 p.m.


New Member Orientation

9 a.m. - 4 p.m.






Broker Price Opinion Resource Designation

9 a.m. - 5 p.m.







Risk Reduction: Rules & Tools of Advertising Part I

1 - 4 p.m.




Risk Reduction: Rules & 1 - 4 p.m. Tools of Advertising Part II








Accredited Buyer Representative - Day 1

8:30 a.m. - 5 p.m. Fairfax


Accredited Buyer Representative - Day 2

8:30 a.m. - 5 p.m. Fairfax


Short Sales and Foreclosures (ABR Elective)

9 a.m. - 5 p.m.


Technology DATE

2/9 3/14




iPad Tools, Tricks and Tips

11 a.m. - 1 p.m.


11 a.m. - 1:30 p.m. Fairfax

Let’s Go YouTube’n






Senior Real Estate Specialist Designation Day 1

9 a.m. - 5 p.m.



Senior Real Estate Specialist Designation Day 2

9 a.m. - 5 p.m.

Principles of Real Estate Fairfax Headquarters



3/19 - 4/5 4/9



Principles of Real Estate: Days 1 - 9

9 a.m. - 5 p.m.

Principles Exam Prep Course

9 a.m. - 4:30 p.m.

Inclement Weather Policy Information regarding course closings or delays may be obtained by calling the NVAR Education Department at 703.207.3244. Staff will assess the weather and road conditions, then post cancellation or delay announcements by 7 a.m. the morning of the scheduled class. NVAR will gladly refund your registration fee if you are unable to attend a scheduled class due to extreme weather conditions. For a complete description of the Realtor® School Cancellation and Refund Policy, please visit nvar.com, and click on the Education Cancellation & Refund Policy link at the bottom of the page. NVAR Realtor® update

January :: February 2012

http://go.nvar.com/1201 43

new members

new members Fana Abraha JoAnne G. Adams Harold A. Alfaro Justin R. Ames M. Sylvia Andersh Rita Andola Vito J. Antonacci Carlos O. Aragon Najeeb Aslam Mahraban Assi Patrick J. Barnicle Carlos A. Batista Balvinder K. Bawa Patricia V. Beck Thomas A. Birkenstock Leslie S. Bishop Jamie L. Boone Abby L. Bornstein Bryce J. Bossin Glen A. Bralley Polina Braswell Brian Burack Eleanor K. Callahan Paula M. Clagett John R. Clayburn Steven P. Cole Mandy Cole Linda L. Cordovana Claudia Costello

Kristeen E. Cruse Efren M. Cubol Tristan E. Cunningham Dominic A. Da Cruz Judith G. Dain Jerry H. Darnell Denise A. Davenport Susan S. Davis Marquietta Davis Raynelle L. Deans Danny R. Denver Rita Dixon Evan Dockser Alexa Dominguez Anca O. Domnitanu Adrianna Duggan Les D. DuVall Amir B. Ebrahimi Fereshteh Ejtemai Lizeth Enriquez Adiba A. Faraz Rana Ghazzi Luis F. Gonzalez John Goodwyn Carlos G. Gradiz Tim B. Grant Linda A. Gruber Gemar E. Hall Judy M. Hamilton

44 http://go.nvar.com/1201

David L. Harbour Jessica Harper Jason S. Hasselius George A. Heller Debra Henke William J. Hennessy, Jr. Christy R. Hertel John D. Ho Jeanny S. Ho JoAnn Hoovler Virginia I. Howden Thomas J. Hubba II Charlene M. Hyneman Muazam Islam Catherine Joyner Shadara R. Karanwal Sonoka N. Katsumi Muhammad Khurram Il Y. Kim Douglas C. Koch Roy Kohn Georgia M. Konz Carl H. Lacey Steve Lancaster Jake T. Legere Megan L. Leinbach Charles A. Leonard Jacqueline D. Lewis Leslie J. Linan

Wilmer Lovaton Iliana I. Lundblad Marilyn I. Lynch Benjamin P. Machuca Miles E. MacIntyre Tausha M. Magrum Cecelia A. Mahan Madlin Mahdawi Frank A. Marino Barbi Marshall Thomas C. Marshall II Darien L. Mason Alex Maximov Lauren M. Mayer Brandon A. Melgar Gonzalez Dairo M. Mendoza Erlinda T. Miller Thomas A. Minetree Jung Hee Minetree Stara J. Morrad Khurram M. Mughal Janet G. Mwobobia Carrie A. Newcome Roxane P. Nunes Robinson D. Oliveros Christopher O’Neal Erin E. Panica Lisa K. Park

January :: February 2012

Marcella A. Pecarro Sarah E. Pelletier John C. Peterson William J. Porter, Jr. Suhad N. Rasoul Dennis K. Reece Robert K. Rickert Nilsa Rivas Mary D. Roberge Mila R. Robinson Ramiro Rojas Linn G. Rosenfeld Linden Ryan Mohammad M. Saleh Nabila M. Sanie Shelly A. Savage Margo D. Scott Rania Senusi Chris B. Shead Claudia E. Sherman Judy G. Silvia Catherine M. Skarupski Norma M. Skeete Victoria W. Smallwood Maryan Smith James B. Smith Sarvenaz Soltani Sharon B. Stafford David L. Sterrett

Meredith K. Sterrett Leslie A. Stewart Ashley J. Sullivan Amina Sultana Hakan Tasci Ashley A. Taylor Stacey J. Thomas Brenda J. Thomas Richard J. Tindell Francesco Tommaso Irene Trivoulides Fahiem A. Usman Robert H. Vantrease Jose L. Vedia Feng Wang Linde A. Ward Serena Washington Ronald J. Wielsma Craig M. Wiesen Kiahna F. Williams Rachel O. Wong David J. Wood Wei K. Wu Daniele Yeonas Sherri L. Zadareky Lillian A. Zakeri Ann M. Zigo

NVAR RealtorÂŽ update

appraisers & affiliates directory

Appraisers A+ Appraisals


AAA Appraisals LLC


AD Brown Appraisals


Advantage Realty Services Inc.


Alan Lord and Associates Inc.


Anthony Appraisers


AREAS Appraisers Inc.


BARCO 703-730-2272

LandSafe 877-572-5673

Commission Advance

Lesley Omega Appraisers


Commission Express

McGraw Appraisals


Credit Union

Metro Appraisal Services


Realtors® Federal Credit Union

Michael S Mc Mahon


Monir Moshashaie


Nancy M. Pruett


NB Valuation Group Inc.


NVA Appraisal


Omni Appraisal Services


Patricia C. Johnson Appraisal


Paul S Fitzgerald


Philip Arnold Appraisal Co LLC


Preston Hummer


Real Estate Appraisals 4 You


Renner, Hansborough & Reese


Residential Appraisal Group Inc.


Residential Valuation Services


Riverpoint Appraisals


Ryan Appraisal Services


Sandra A. Le Blanc


Silvey Appraisals LLC


Stewart Jarrett R E Appr & Con


Suburban Appraisers & Consultants


Susan Vanderzyl


T. L. Hoover Appraisal Service


The Benjamin Group Inc.


VA-MD Appraisal Group LLC


Washington Appraisal Group Inc.


Weichert Realtors®


William C. Harvey & Associates


William Patten & Associates


World Mortgage


BFM Inc.


Bruce W. Reyle and Company Inc.


Capitol Appraisal Service Inc.


Chevy Chase Bank - Bethesda


Chevy Chase Bank - Reston


Classic Appraisals


CMS Appraisals Inc.


D&R Appraisal Services Inc.


Dan W. Mori


DCO Appraisal Services Inc.


Dennis J. Park


Diane V. Quigley Appraisal


Dickman & Associates


Distinctive Homes Realty LLC


Dittmar Realty Group


Donald R. Drake Jr.


Elite Appraisal Service


F & F Appraisals


Forte Appraisal Service Inc.


Gee Appraisers Inc.


Harry Graef


Harry H. Arikan


Hartmann Group


Hendershott Appraisal Services


Home Appraisers


Homestar Real Estate Services


Hundley and Associates


Cable Services

Inman Appraisal Services Inc.


Cox Communications


JDC Appraisals Inc.


Cox Communications


John L. Brady Jr.


Closing Gifts

Karas Inc.


Cutco Closing Gifts

Kinder Appraisal Services


NVAR Realtor® update




Financial Services 1st Portfolio Lending


Acacia Federal Savings Bank


Bank of America - Annandale


Bank of America - Commercial


Bank of America - Fairfax


Bank of America - Oakton


BB&T Mortgage


Carrington Mortgage Services LLC


Chase Home Finance - Falls Church 703-326-9711 Chase Home Mortgage - Columbia 410-992-6660 Fidelis Mortgage LLC


First County Mortgage


First Home Mortgage Corporation


George Mason Mortgage


Greenpoint Mortgage


Homestead Funding Corp.


HST Mortgage


Intercoastal Mortgage


Member Advantage Mortgage


MetLife Home Loans - Alexandria 703-706-4066 MetLife Home Loans - Fairfax


MetLife Home Loans - McLean


Monarch Mortgage


Mortgage Access Corp.


Navy Federal Credit Union


Pentagon Federal Credit Union


SunTrust Mortgage


The Washington Savings Bank


Union Mortgage Group


VHDA 804-343-5981


January :: February 2012

Wells Fargo Home Mortgage


Government Services Fairfax County


Gutter Repair Gagnon’s Gutterworks

703-716-0377 http://go.nvar.com/1201 45

appraisers & affiliates directory

Home Cleaning Services Maid Brigade


Pesner, Kawamoto, Conway


Key Title - Reston


Peterson, Noll, & Goodman PLC


KVS Title


MBH Settlement Group - Alexandria 703-739-0100


Home Inspections AmeriSpec Home Inspections


The Washington Post

Consumer Resources


Mold Remediation

Hinson & Jung LLC


AHS Mold Aid

House Inspection Associates


Moving & Storage

Hurlbert Home Inspection


Busy Buddies Inc.


Keystone Home & Environmental


JK Moving & Storage


Old Dominion Home Inspection


Quality Services Moving


Pillar to Post Inc.


Pillar To Post Inc.


ProTec Inspection Services


US Inspect


Virginia Home Inspection Service LLC


Home Repair Services Mr. Sandless


Home Security Home Security Assoc of Virginia


Home Staging Services Dekore Inc.


Preferred Staging


Staged Interior


Home Warranty 2-10 Home Buyers Warranty


HMS Home Warranty


Old Republic Home Protection


New Home Builder Toll Brothers

Personnel Services


Law Office of Ann-Lewise Shaw


46 http://go.nvar.com/1201

Monarch Title - Alexandria


Monarch Title - Herndon


Monarch Title - McLean

703-852-1730 703-852-7710 307-986-1114

Accurate Radon Testing


Provident Title & Escrow - Chantilly


Arlington Radon


Republic Title Inc.


US Inspect


RGS Title


Southstar Title & Escrow LLC


Stewart Title & Escrow Inc.


Real Estate Forms MB Associates


Real Estate Services All American NOVA Home Buyers


Real Estate Signs 202-256-0107

The Settlement Group Inc. - Arlington 703-395-5307 The Settlement Group Inc. - Burke


The Settlement Group Inc. - McLean


Universal Title


Technology Services HomeFinder.com 703-777-3172


MRIS 301-838-7100 RealEstate Business Intelligence

301-838-7131 703-999-7341

Absolute Title & Escrow LLC


Solution Station

ATG Title


Virtual Tours

Dominion Title Corporation

Keegan & DeVol PLC


Paragon Title & Escrow - Bethesda

Radon Inspection

Settlement Services


Mid-Atlantic Settlement Svcs



Joseph A. Cerroni, Esq.

MBH Settlement Group - Reston 703-318-9333

New World Title & Escrow

Victor Schinnerer & Co. Inc.


MBH Settlement Group - McLean 703-734-8900


DryHome Roofing & Siding Inc.

Fredericks & Stephens, P.C.

MBH Settlement Group - Manassas 703-393-0333

My Exterminator LLC


Brincefield,Hartnett,Maloof 703-836-2880

MBH Settlement Group - Kingstowne 703-417-5000

Monarch Title - Springfield

The Hutt Financial Group

Legal Services

MBH Settlement Group - Fair Oaks 703-279-1500





Asian Pest Services LLC

The Hogg Insurance Group

Junk King


Pest Control Services


Junk Removal

MBH Settlement Group - Burke

MBH Settlement Group - Vienna 703-242-2860 703-753-6688

Employment Enterprises Inc.

MBH Settlement Group - Ananndale 703-852-3000 MBH Settlement Group - Arlington 703-237-1100


Realty Sign Post Co. LLC

Insurance Services



Ekko Title - Centreville


Ekko Title - Fairfax


Ekko Title - Vienna


eTitle Agency Inc.


Highland Title & Escrow


Key Title - Fairfax


January :: February 2012

BTW images


Bold signifies NVAR Partners (Last updated December 12, 2011) Do you have a correction to this list? Please e-mail changes to Tracy Reynolds at treynolds@nvar.com. NVAR Realtor速 update

NVAR Realtor速 update

January :: February 2012

http://go.nvar.com/1201 47

Profile for Northern Virginia Association of Realtors®

January/February 2012 Update magazine  

This is the January/February 2012 issue of NVAR's Update magazine.

January/February 2012 Update magazine  

This is the January/February 2012 issue of NVAR's Update magazine.