H.R. 3700 passed the House 427-0, but has failed to come up for a vote in the Senate...Tell your Senators to get to work on this important legislation!
This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by:
Removing a burdensome and expensive FHA condo approval process
Reducing FHA restrictions on the number of condos available to homebuyers
Permanently streamlining Rural Housing Service loan processing
More Information on NAR's efforts to pass H.R. 3700 can be found here:
Letter Urging the Senate to Pass H.R. 3700
NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance.
House Passage Press Release
State
REMINDER: New Laws take Effect July 1
The Virginia General Assembly passed a number of measures impacting Realtors® and your clients during the 2016 legislative session. Unless otherwise indicated all of the new laws become effective July 1, 2016.
NVAR and the Virginia Association of Realtors® worked to pass several measures on your behalf, including those introduced as part of our 2016 Realtor® Legislative Agenda. Visit go.nvar.com/2016laws for a full rundown on all of the new laws impacting our industry.
Local
Fairfax levies $6,000 in Fines for Signs Illegally Posted on Roads
Under a legal agreement with the state which began in 2013, Fairfax County removes signs from public rights of way on about 71 major roads.
The Sheriff's Community Labor Force collects signs every week from Tuesday to Thursday. Signs are stored at the I-66 Transfer Station for five days, allowing owners time to reclaim them. After this time, the signs are destroyed.
In May, Fairfax County began imposing a $100 civil penalty per sign against sign violators. In the past year, over 27,000 signs have been collected under the program, including a reported 4,500 Realtor® signs.
For more information on local real estate sign ordinances, please visit: https://nvar.com/real-estate-laws/sign-ordinances.
CTB Awards Contracts for Tolling System on I-66 Inside the Beltway
The Commonwealth Transportation Board awarded two contracts this week worth approximately $60 million for a tolling facility on Interstate 66 from I-495 (Capital Beltway) to U.S. Route 29 in Rosslyn.
Work will begin later this summer, and tolls are expected to be in effect during summer of 2017. Tolls will be implemented on weekdays during peak hours in peak directions (5:30-9:30 a.m. eastbound and 3:00-7:00 p.m. westbound), providing single-occupant vehicles the option to pay a toll and use the lanes. Carpoolers with two or more people will continue to use the lanes for free. By late 2020, three or more people will be required in each vehicle in order to avoid the toll. Tolls will vary based on traffic volumes in order to manage demand for the lanes and provide a reliable, free-flowing trip. The lanes will remain free to all traffic during off-peak hours and on weekends.
More information can be found at
Transform66.org.
Events
Nationals and Realtors® Both Win at '80s Night at Nats' Park
Over 150 Realtors®, Affiliates, family and friends invested $9,000 in the Northern Virginia/Realtors® Political Action Committee (NV/RPAC) at the second annual NV/RPAC Night at Nationals. The '80s theme night, an exciting 9-6 Nationals' victory and great weather made for a truly memorable evening.
SPECIAL THANK YOU TO OUR SPONSOR:
Don't miss out on our next great NV/RPAC EVENT!
Register Here for Another Round on July 28 at World of Beer in Reston
Sponsored by:
