Home sales are Northern Virginia are increasing, but many of the sales are through bank-owned properties. Fairfax saw a 10.7 percent increase in August, but the median sale price was $375,000, down 22 percent from August 2007. More than half of these sales involve houses owned by banks. Other localities in the region, however, saw a slowdown in home sales, except for Prince William and Loudoun counties. Foreclosures in those counties have caused a flurry of sales from people looking for a good deal. In Prince William, home sales soared 100 percent as prices fell 42 percent to $251,384. Loudoun homes sales increased 28 percent, while home prices fell 24.6 percent to $335,000. Unemployment in Virginia rose 0.2 percent to 4.6 percent in August. (The Washington Post)
The Fairfax County Board of Supervisors approved a broad plan on Monday to transform Tysons Corner from a sprawling area of office parks and retail into a “green” city with sidewalks and neighborhoods. (The Washington Post).
The Virginia Port Authority will consider reducing its staff by 7 percent to improve efficiency and cut costs at a board meeting today. The proposal includes offering buyouts, consolidating its marketing and sales staff and adding three deputy executive directors. The plan would include transferring the marketing and sales staff to Virginia International Terminals, the operating arm of the Port of Virginia, to avoid duplication. (The Virginian-Pilot)
The first barge of steel containers will travel from Norfolk to Richmond on Nov. 3. The barge will carry up to 60 containers that would have transported by truck. Norfolk shipping agency T. Parker Host is starting the barge service, hoping to take trucks off the congested roads and tunnels in the region. (Daily Press)
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