ChesBay Act in Loudoun

Here in Loudoun, the Board of Supervisors is looking at the option of adopting the Chesapeake Bay Protection Act for the county.  As the county is not mandated to do so by the Environmental Protection Agency, and this completely voluntary, there has been significant debate in the community.  If adopted, it will become the "Chesapeake Bay Preservation ORDINANCE" (not Act) of Loudoun County.  So, it is being referred to as the CBPO and/or the "Ches Bay" issue.

Everyone agrees clean water is important to us all... but the controversy comes when we talk about how to obtain it. Environmentalists plead that we need to do something for our waterways to clean them up, and don't seem to be deterred by the costs involved in implementing the plan, nor are they concerned that it will result in limitations on how property in Loudoun can be used, and they don't have much research showing that the actions will accomplish the desired result.   Property owners, who also want clean water, say that limiting their use of their land, without any compensation, is a "land grab" and are outraged.  There are fears that to just put in a swing set could cost a homeowner an additional $6700 in fees and studies to get approval from the county... if the approval ever comes.

The Towns of Loudoun have largely come out against this adoption, even though it would have little to no impact on things within the towns due to jurisdictional limitations. There's a great letter from the Mayor of Purcellville urging the Board of Supervisors to consider offering incentive plans for voluntary actions rather than to force landowners to live within the confines of this Act.  The Dulles Area Association of REALTORs pleads that the Board of Supervisors wait to see how the new (pending) legislation that is coming from the EPA to the states and then to localities will impact the water ways, suggesting that more effective plans are in the works and that the adoption of the CBPO could negatively impact property values, and cause huge issues for property owners in added costs and aggravation that is simply unnecessary.

On February 28th, property owners showed at a Board of Supervisors meeting to show their discontent that the BOS is still considering this ordinace.  Check out these photos on the REAL ESTATE WHISPERER facebook page (CLICK HERE).

March 16 update:  Activities related to the Ches Bay Pres Ordinance continue.  Check this link periodically to stay abreast of developments:
http://www.loudoun.gov/Default.aspx?tabid=2872&zoom_highlight=chesapeake+bay

MARS Disclosure (General Commercial Communications)

This notice is being provided to fulfill the FCC's "MARS" rules intended for those that may be considering a "Short Sale" or loan modification services.

IMPORTANT NOTICE REGARDING

SHORT SALE NEGOTIATION SERVICES

OR REFERRALS FOR SHORT SALE

OR LOAN MODIFICATION SERVICES:

Chrisner Realty Investing Services, Inc. and Keller Williams Realty do offer services to negotiate short sales for buyers or sellers, and may provide referrals to companies which offer these services and/or loan modification services.

Chrisner Realty Investing Services, Inc. nor Keller Williams Realty is associated with the government, and our service is not approved by the government or your lender.  Even if you accept our offer of service, your lender may not agree to change your loan, to release a lien against your property permitting a sale, or to forgive you of any remaining debt.

This is also true for most service providers we could refer.  If we refer you to a servicer for loan modification and or short sale negotiation, please ask them specifically if they are associated with the government.

If you stop paying your mortgage, you could lose your home and damage your credit.

For more information about short sale negotiation services offered, please contact Vicky Chrisner, VChrisner@KW.com 703-669-3142.

This disclosure is being provided by:

Vicky Chrisner, Real Estate Salesperson

Chrisner Realty Investing Services, Inc.

Keller Williams Realty

Leesburg, VA

ALSO SEE:
General Information on MARS Ruling

Changes to Agency Law

Minutes ago, House Bill 1907 passed the Virginia House of Delegates.

This bill makes noteworthy changes to the laws regarding Agency in Virginia.

The highlights of this legislation are:

1. All brokerage agreements (including buyer agency agreements) must be written.  It it has long been a practice to require written listing agreements, and most agents follow this quite well.  However, buyer agency is another animal.  While it has always been a best practice to have a written buyer agency agreement,  it's a step skipped all too often,  especially among friends.

2.  Dual agency, while still legal, requires an enhanced disclosure  which essentially explains that the agent CAN NOT do all the things the client probably wants his agent to do.  I never like to say "Never", but dual agency is, in my opinion, very rarely a good option for anyone in a transaction, and essentially, this new law is that we spell that out for the clients.

3.  Since we never seem to get it right, the Property Disclosure Law is being revised AGAIN.  Now, we're going to require consumers to use a web site maintained by the Virginia Real Estate Board.  I am sort of interested to see how this plays itself out.

4.  Real estate agents are given immunity from law suits for reasonably relying on publicly available information. This part of the legislation is designed to protect real estate agents from getting sued because they represented square footage of a home based on the public tax records for that home. 

Interested in learning more about this bill?  Go to the source:

http://lis.virginia.gov/cgi-bin/legp604.exe?ses=111&typ=bil&val=hb1907&Submit2=Go

MARS Ruling - New Protections for Homeowners

Recently, there was new legislation regarding companies negotiating loan modifications and/or short sales on behalf of homeowners.  Essentially, there are new disclosures required from the agents or modification companies and the law now says that these companies/agents may not require an up front fee be paid, that the companies can only get paid on a contingency - meaning if they are successful, then their fee becomes due.

This is great legislation for homeowners, and is being referred to within the industry as the MARS ruling. 

ALSO SEE:

Required disclosure for General Communications (MARS)

Guidelines for servicers/REALTORS from the National Association of REALTORS re: MARS RULING:

https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0B2PfdTb2RWFGYTk3ZGFmYmQtZmZmNC00Zjc4LWE4MDctYTU4MGExMTJlZWE4&hl=en&authkey=CLmGsNQD&pli=1