REALTORS® are the Resource

Adam Dodd2

FHA Mortgage Insurance Premiums Reduced This Week

By on January 31, 2015

What this Means for Homebuyers
This week, a new annual premium rate of the Federal Housing Administration (FHA) took effect, which reduced mortgage insurance premiums by 0.5 percentage point, from 1.35 percent to 0.85 percent. According to the FHA, this policy will translate into a $900 reduction in the annual mortgage payment for a first-time homebuyer.“This step is part of the President’s broader effort to expand reasonable lending to creditworthy borrowers and increase access to sustainable rental housing for families not ready or wanting to buy a home,” said a recent statement from The White House.Adam Dodd 3

The U.S. Department of Housing and Urban Development (HUD) has indicated that borrowers with case numbers assigned on or after January 26, 2015 will be eligible for reduced annual mortgage insurance premiums, and that the FHA will permit lenders to cancel existing case numbers and assign new case numbers so that borrowers who have yet to close on their loans may take advantage of the new premium reduction.

“This action will make homeownership more affordable for over two million Americans in the next three years,” said HUD Secretary Julian Castro.

For a FAQ sheet from the HUD, visit goo.gl/LkoVZb.

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New Home Search App Launched by the Central Virginia Regional MLS

By on June 19, 2013

Central Virginia Regional Multiple Listing Service is proud to announce the launch of the RVA Homes app. RVA Homes provides the most accurate, on-the-go access for REALTORS® and consumers to search homes, explore real-time listing details, view photos, conduct location-based

Graphs Trends Businessman

2014 Year End Housing Market Report Signals Momentum into 2015

By on January 22, 2015

According to a 2014 annual and fourth quarter housing market report released today by the Central Virginia Regional MLS, regional home sales activity for the year grew 2.6 percent from 2013, fueled largely by job growth twice the long-term annual

Blueprint Table

REALTOR® Faye Hager’s 7-Year Hostel Project in Progress

By on January 7, 2015

Richmond REALTOR® Faye Hager watched her dream and 7-year campaign spring to life this September, as local construction company J.W. Enochs broke ground on Richmond’s first hostel. “I felt like I got married. I was on a high,” Hager said.

This is Richmond

The Valentine Revamped

By on January 5, 2015

After a multi-million dollar, year-long series of renovations, the museum that tells Richmond’s many stories has unveiled its fresh new spaces to the public. Along with the freshly renovated spaces will be fresh new exhibits and programming in the coming

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Quirk Hotel & Other Developments to Spur Tourism in Richmond

By on December 30, 2014

At 201 W. Broad Street, an Italian renaissance revival style mid-rise building—which was built in 1916 for the J.B. Mosby and Co. Dry Goods Store—is in the midst of transformation into a stylish, modern boutique hotel, intended to immerse visitors

Money

First Time Homebuyer Savings Plan – FAQs

By on December 1, 2014

Below is a list of Frequently asked questions regarding Virginia’s new First Time Homebuyer Savings Plan. These FAQs were compiled by the Virginia Association of REALTORS®. What kinds of accounts can be FHSPs? Almost any account you have with a financial

Third Quarter Housing Market Report Indicates Resumed Sales Growth and Healthy Demand

By on October 22, 2014

Richmond, Va. – According to a third quarter 2014 housing market report just released by the Central Virginia Regional MLS, sales growth has resumed in the region after a flat second quarter this year. The region as a whole had a

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Are You Getting a Cold Chill Waiting for those Winter Heating Bills?

By on October 17, 2014

Get a healthy and efficient home energy evaluation! The nonprofit organization project:HOMES , a participating contractor in Dominion Virginia Power’s energy conservation programs, is now offering a Home Energy Check-Up for only $25*! The Home Energy Check-Up gives single family

The Housing Interpreter Cover

Read & Share the Latest Edition of The Housing Interpreter – Digital Magazine

By on September 26, 2014

The latest edition of The Housing Interpreter is now available at WeAreTheR.com.  Both The Housing Interpreter and WeAreTheR.com provide a wealth of information about buying and selling homes, the value of using a REALTOR®, and housing related news and stories from

CRS

Central Virginia REALTORS® Help Clear the Clutter for a Cause

By on September 10, 2014

Each year, the Central Virginia Certified Residential Specialist (CRS) Chapter, (a non-profit organization recognizing REALTORS® for their professional accomplishments in both experience and education), selects a local charity to get involved with and support. This year, they have teamed up