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Fed’s Fifth District economy shrinks slightly
The economy in the Federal Reserve‘s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) contracted slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions g[...]
Residential roller coaster
Last year began on a high note for the Hampton Roads residential real estate market, with home prices and apartment rents soaring. According to the Real Estate Information Network, monthly median rent costs rose 20.4% compared with 2021, with median rents of $1,800. But by the fourth quarter of 2022, rent growth slowed and sales […]
August NoVa home price growth outpaces national rate
Home prices grew faster in Northern Virginia than nationally in August, according to a Northern Virginia Association of Realtors report released Monday. The Northern Virginia market also had lower inventory than the nationwide market, but sales declined in both markets. “Despite mortgage rate increases, demand for housing is outstripping available options in our region. Low […]
NoVa home prices increase, Hampton Roads sees inventory boost
Median home prices in Northern Virginia continue to increase, hitting $700,000 in August, an 11.6% percent increase over the previous year, according to the latest report from the Northern Virginia Association of Realtors. At the same time, year-over-year sales declined, decreasing 12.4% from August 2022, but month-over-month sales increased as the summer reaches its end. […]
Real Estate 2023: TERRIE L. SUIT
When Suit started her career, she worked for a builder, then became a Realtor and later a mortgage loan officer. Today, after serving as the state’s first secretary of Veterans Affairs and Homeland Security, as well as a Republican state delegate for eight years, Suit now leads Virginia’s largest trade association. She advocates for 38,000 […]
Real Estate 2023: BARBARA M. WOLCOTT
A five-decade Hampton Roads real estate veteran, Wolcott now leads a company created by the merger this March of Rose & Womble Realty and Berkshire Hathaway HomeServices Towne Realty. The combined firm has more than 750 agents and the backing of Suffolk-based TowneBank, as well as being part of Warren Buffett’s Berkshire Hathaway luxury real […]
Real Estate 2023: EUGENE J. BREDOW
In March 2022, Bredow was appointed president and CEO of NVR after Paul C. Saville transitioned to executive chairman. Bredow has worked for NVR since 2004 and became president of NVR Mortgage in April 2019 after holding several executive positions in accounting and administration. Founded in 1980, NVR is one of the nation’s largest homebuilding […]
Real Estate 2023: LISA CHANDLER
In March, Berkshire Hathaway HomeServices and Rose & Womble Realty announced their merger. The combined agency has more than 750 agents and represents over 16% of the region’s market share, according to its chairman, J. Van Rose Jr. After an early childhood spent moving around the globe with her Air Force officer father, Chandler landed […]
Real Estate 2023: ALBERT G. ‘BEAU’ VAN METRE JR.
Van Metre’s late father founded his family real estate development company in 1955, partnering with B.B. Wills to build the first Van Metre Homes in Burke, a Fairfax County suburb. Like Northern Virginia, Van Metre Cos. has grown exponentially in the decades since. Beau Van Metre joined the company in 1963. In 2002, he was […]
Real Estate 2023: PATRICK BAIN
Promoted to president and CEO in March, Bain first joined The Long & Foster Cos. in 2010 as president of its insurance and home warranty businesses. In 2018, he took on oversight of Long & Foster Property Management and Long & Foster Rental Service Center. He rebranded the property management business to HomeServices Property Management […]
Real Estate 2023: JACKIE THIEL
Thiel was appointed president of Long & Foster Real Estate in March, replacing Larry “Boomer” Foster. She has been with the company since 1998 and was executive vice president of general brokerage operations before her promotion. Thiel oversees the company’s more than 200 offices and 9,000 agents across eight states and Washington, D.C. During her […]
Real Estate 2023: MARK C. LOWHAM
Lowham has led the Washington, D.C.-region arm of the luxury real estate company since 2011. His office handled the record $48 million sale of the state’s most expensive home, Fairfax County estate River View, to former Washington Commanders owners Dan and Tanya Snyder in November 2021. (According to news reports, the couple has moved to […]
