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Q2 2019 U.S. Home Sales Report Highlighted a New Spike in Single Family Homes’ Prices

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A new US Home sales report released in the second quarter of 2019 highlighted an increase in the US single-family homes and condos prices. The report was released by the nation’s premier property database, ATOM Data Solutions showed that the US single homes were sold for a median price of $266,000 in the second quarter. The jump is 10.8 percent from the last quarter and a 6.4 percent from the previous year.

According to the report, Annual Home Price Appreciation (HPA) witnessed an increase in 89 percent of Local Markets. The US Average Homeownership Tenure saw an increase of 4 percent and the Profit Margins rose to 33.9 percent with Dollar Gains stood at $67,500. As per the report, the homeowners who sold their houses in the second quarter enjoyed ownership for an average time period of 8.09 years. It showed an increase of 3 percent from the last quarter and a 4% jump from Q2 2018.

Out of 149 metro areas, a total of 133 areas witnesses an annual home price appreciation in the second quarter of 2019. Milwaukee, Wisconsin saw an increase of 9% during the Q2 of 2019 and many home sales services in Milwaukee got benefitted due to this trend. Cream City Home Buyers is one such service who allows people to sell their houses in order to get cash for houses in Milwaukee. Other places such as Boston, Salt Lake City, Columbus, and Birmingham also witnessed an increase in home prices.

Since 2005, the prices of US Homes have always witnessed a jump in the Q2 of every year and this is the maximum hike in median home prices in the country. According to Todd Teta, chief product officer at ATTOM Data Solutions, the mortgage rates fell to a new low and it is due to this reason that people went for buying a new home despite the hike in prices. Further, he said that the home prices are going to fall in the coming quarters which would facilitate an increase in the sale of houses.

A multi-lingual talent head, Jimmy is fluent in languages such as Spanish, Russian, Italian, and many more. He has a special curiosity for the events and stories revolving in and around US and caters an uncompromising form of journalistic standard for the audiences.

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Reckless Driving in the State of Virginia

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The state of Virginia is strict in its enforcement of laws against reckless driving. According to section 46.2-852 of the Virginia Code, reckless driving is listed as a criminal offense. In addition, the Virginia Code categorizes all driving that endangers the life and property of others as reckless.

Several behaviors that motorists exhibit while behind the wheels can qualify as reckless driving in Virginia. “Reckless driving causes nearly a third of all deaths involving major car accidents, which are more than 13,000 each year,” explains attorney Karin Riley Porter. As a result, you can be charged by an officer and can be found guilty or not guilty by a judge.

Types of Reckless Driving

Reckless driving is in different forms and includes:

1. Driving a vehicle with a mechanical fault

Va. Code § 46.2-853 considers driving a vehicle with faulty brakes as a reckless driving offense. Therefore, if a driver cannot maintain proper vehicle control, the driver will be held liable for reckless driving. However, if a driver could prove that they didn’t have prior knowledge that the vehicle was faulty, it would be possible to avoid conviction.

2. Not giving out the right signals when required

Not giving out a signal while driving on Virginia road is an offense under section 46.2-860 of the Virginia Code. Motorists are required to start signaling 50 feet away from the place they would be turning where the speed limit is not above 35 mph. In situations where the speed limit is above 35 mph, drivers are required to signal 100 feet away from where they would take a turn.

3. Driving alongside another vehicle on a single lane road

In Virginia, driving two vehicles abreast on a one-lane road is considered a reckless driving offense. This rule, however, only applies to vehicles and has no implications on motorcycles and bikes. If found liable, the offender will face charges.

4. Overspeeding

Different Virginia roads are subject to variable speed limits. A driver can face charges for reckless driving if they exceed the speed limit specified by law on each road network. According to the Va. Code §46.2-862, a driver can face convictions for reckless driving if they exceed the specified speed limit by 20 mph or drive above 80 mph.

5. Driving with an impaired view

Some drivers overload their cars or carry passengers who prevent them from seeing all sides of the road. Overloading is most common in trucks. If the passenger’s sitting position in any way obstructs the driver’s view, then the driver can be charged for reckless driving.

6. Racing on Public Property

Section 46.2-865 of the Virginia Code considers car racing on any property that is open to the members of the public without authorization as reckless driving. If found guilty, the state can withdraw the license of the driver for up to six months.

Penalties for Reckless Driving in Virginia

A reckless driving conviction may attract different penalties to the offender, some of which may include:

  • A suspension of the driver’s license for six months or more
  • Up to one-year jail term
  • Fine amounting to $2,500
  • Increase in auto insurance
  • Ineligibility for car rentals
  • Possibility of permanent seizure of vehicle if found guilty of unauthorized car racing

Conclusion

Reckless driving is a severe offense in Virginia. If you are charged with the crime and convicted, it can stay in your driving records for up to 11 years. However, with the help of an experienced Virginia traffic attorney, you can get a lesser charge for the offense.

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