Chesterfield County actively encourages investment in aging neighborhoods and offers an incentive program to homeowners who improve the value of homes that are at least 25 years old (built-in 1994 or earlier). Homeowners anywhere in the county who improve the assessed value of their home by at least 10% may realize a property tax exemption based on the assessed value of the improvement. This program applies to rehabilitation, renovation, or replacement of older structures. The benefit lasts 15 years and runs with the property. Rehabilitation tax exemptions are also available for commercial and industrial buildings, as well as for apartments and [...]
View the available Navy Hill presentations below Navy Hill Council Work Session - City Overview Presentation Navy Hill Council Work Session - NH Presentation Navy Hill is the revitalization of an entire neighborhood where one was lost, creating jobs and opportunities, affordable homes, and new tax revenue for the City. Here’s what the project will do: Create new tax revenue for schools, public safety, and core City services (streets, utilities, etc). Currently, there is nowhere to live, eat or shop in the neighborhood—meaning the downtown land generates almost no tax revenue to fund City services. Once developed, there will be apartments, [...]
The Richmond Association of REALTORS® has issued endorsements in several local races. Candidates running for open Board of Supervisor or School Board seats were invited to participate in interviews conducted by the RPAC Trustees, a nine-member board composed of REALTORS® from across the Richmond Metro Region. The endorsement process is non-partisan and solely focused on housing policy. After three days of intensive candidate interviews, the RPAC Trustees have endorsed the following candidates: Chesterfield Board of Supervisors Jim Ingle – Bermuda District Kevin Carroll – Matoaca District Chesterfield School Board Ann Crawley Coker – Bermuda District Dot Heffron – Clover Hill District [...]
New Laws Effective in July Please be aware of the following changes to Virginia law that become effective today - Monday, July 1: Unlicensed Real Estate Activity HB 2218 adds unlicensed real estate activity to the Virginia Consumer Protection Act to better protect homebuyers and real estate licensees. Unlicensed activity can be enforced by the Virginia Attorney General, a Commonwealth's Attorney, or a locality's attorney. Residential Property Disclosure Act SB 1292 adds mineral rights and special flood hazard zones to the Residential Property Disclosure Statement and adds more specific language about where flood information can be found. HB 2019 deals with stormwater detention facilities. [...]
Want your name on a brick at the Richmond Association of REALTORS®? Now is your chance to become the foundation of our local and statewide advocacy efforts through a contribution to the Richmond REALTORS® Political Action Committee (RPAC). Make a $2,500 contribution to RPAC by Thursday, October 31, 2019, and have your name engraved on a brick outside of RAR's main entrance. If you would like to take advantage of this engraving opportunity, you may contribute through a monthly installment program or a one-time payment by contacting Joh Gehlbach, Government Affairs Coordinator at 804.422.5029.
The 2019 General Assembly Session may have been considered a short session, but the body passed more bills this year than in 2018’s regular session. The Virginia REALTORS® Public Policy Committee, made up of REALTORS® from across the Commonwealth, reviewed over 200 pieces of legislation that impacted the real estate industry and homeowners. The legislation they reviewed included bills elected officials carried at our behest, bills that will chip away Virginia’s eviction rate, and bills that will hopefully provide affordable health insurance options for you and your families. First, the REALTOR® Agenda bills – bills that we asked members of the [...]
Updated January 17, 2019 The following list contains bills that the Richmond Association of REALTORS®, in conjunction with Virginia REALTORS®, have asked to be introduced. Government Affairs staff at both RAR & VR are monitoring numerous additional bills that have some impact on real estate activity and homeowners in Virginia. Staff actions are guided by the Virginia REALTORS® Public Policy Committee, which is made up of REALTORS® from across the Commonwealth. If you are interested in following the activity on the Hill, you can watch General Assembly Floor Sessions and committee meetings by visiting the General Assembly website. Consumer Protection [...]
Monday, January 14, 2019 | 8AM - 9:30AM 8975 Three Chopt Rd., Richmond, VA 23229 Join the Richmond Association of REALTORS® in the Atrium for a Town Hall with Dr. Amy Cashwell, Henrico County Public Schools’ (HCPS) Superintendent. Coffee and light breakfast will be provided. Dr. Cashwell, members of her staff, and representatives from the Henrico School Board will be in attendance to discuss HCPS’ future, school construction, and answer any questions you might have. For more information and to RSVP, email firstname.lastname@example.org.
Must I provide a copy of the buyers EMD check when submitting an offer to purchase a property? We have been experiencing an uptick in calls concerning earnest money deposits and verification that the escrow agent has received EMD funds. Listing agents are demanding copies of EMD checks from buyer agents and in some cases, refusing to present offers if a copy of the EMD check is not provided. Virginia law does not require a licensee to provide a copy of an EMD check to another licensee. Further, a copy of a check only proves that a check has been written [...]
Governor Northam unveiled Executive Order 25 at the annual Governor’s Housing Conference. The order establishes affordable housing priorities aimed at addressing Virginia’s unmet housing needs. By taking a cross-departmental approach, senior administrators in the Northam Administration will identify and implement actions enabling the development of quality, affordable housing with the goal of strengthening communities and fostering economic growth. Policy goals will encompass three primary areas: Increasing the supply of permanent supportive housing Addressing the shortage of quality affordable housing Reducing the eviction rate across the Commonwealth Partnering with subject matter experts and stakeholder groups, including state and local REALTOR® associations, are [...]