Archive for: February 3rd, 2018

Local Government
Eight Republicans seek 6th district nomination currently held by retiring Congressman Bob Goodlatte
February 3, 2018
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Republicans now have eight candidates to choose from in May when they will select a nominee to run for Virginia’s 6th congressional district. The candidates include: Ben Cline, Michael Desjadon, Cynthia Dunbar, Ed Justo, Chaz Haywood, Kathryn Lewis, Elliot Pope and Douglas D. Wright. The Republican convention will be held in May at James Madison University.

Watch the forum here and hear their answers to questions presented by Warren County Republicans.

 

Home
Feel the breeze? A home for your Valentine is in the wind
February 3, 2018
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If you have a heart for a new home this year, the real estate market is shaping up nicely for February.

The market has a nice breeze pushing it along as good job numbers, lower tax rates, and a stronger economy push a market that has been good for sellers because prices are higher, and good for buyers because mortgage rates are low.

Meanwhile, the Federal Reserve is widely expected to raise interest rates incrementally during 2018 to reach a 2 percent increase. Since the next Fed meeting isn’t until the end of March, February remains a great time to get a mortgage and buy a home.

Homeowners who have waited to market their properties are increasingly likely to do so now because asking prices are a little higher but still attractive to potential buyers.

For buyers, the time is right to get a jump on the Spring sales season. The new tax plan passed by Congress in December 2017 won’t affect many homebuyers, at least as far as the new mortgage deduction is concerned.

For buyers of very expensive homes, it allows a deduction of mortgage interest up to $750,000. This is lower than the previous limit of $1 million.

The limit only affects new mortgages, not existing mortgages. Since the median list price of a home is about $250,000, most homeowners won’t be affected by the limit decrease. The new limit is expected to affect about 1.3 percent of new mortgages on very expensive homes, usually in expensive housing markets such as coastal areas.

The new limits on deductions aren’t expected to affect many people nationally, according to realtor.com. That’s because homeowners can only take the deduction if they itemize and only about one-third of taxpayers do that. Of those that itemize, just over 21 percent use the deduction. However, it will affect high-cost markets in local areas.

Experts are divided as to the impact of the new tax plan on housing. Some see the tax changes as encouraging renting in high-cost areas, causing housing prices to fall. On the other hand, with a higher standard deduction, taxpayers in lower brackets could find themselves able to buy a home. That could push prices up, according to realtor.com.

Local News
Driver injured after rear-ending stopped Frederick County school bus, students safe
February 3, 2018
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A pickup truck driver crashed into the back of a stopped Frederick County school bus Friday afternoon. While no students were injured, the truck driver did sustain injuries and was airlifted to Inova Fairfax Hospital. Photos / Julia Souter

ARMEL – A pickup truck driver was injured Friday afternoon after rear-ending the back of a stopped Frederick County, VA school bus.  The bus was stopped at 3343 Front Royal Pike (U.S. 522) around 3:30 p.m. Friday.

Frederick County officials say that while none of the three children on the bus nor the bus driver were hurt, the truck’s driver was injured, and had to be extricated from the truck.

The driver, whose name was not available, sustained leg injuries, and was flown to Inova Fairfax Hospital in Falls Church, VA, according to a communications officer at the Frederick County Sheriff’s Office.

In Virginia, according to Code 46.2-844, any driver who passes a stopped school bus or fails to stop behind a stopped bus is subject to a civil fine of $250.