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Real Estate

<lst>The Long & Foster Companies reported February total sales of $4.5 billion, an increase of 25 percent over February of 2004. It was the best February in the company's 37-year history. The top sales office in Long & Foster's Northern Virginia region for February, based on sales volume, was McLean, with $65 million.

Northern Virginia's fast-paced real estate market continued its trend of escalating sales prices and low inventory in February, according to Northern Virginia Association of Realtors. The average sales price this month was $484,608, a 28% increase over last February's average of $377,390. Low inventory continues to be a challenge for those looking to buy. At the end of the month, active listings were 18% below the same time last year. Despite the lack of inventory, the total number of homes sold this month was up 9%.

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The McLean/Old Dominion Office of Weichert, Realtors, announced that Randy Morrow was recognized with three regional awards for the month of January. Morrow led the Virginia region in recording the highest number of resale listings, resale marketed listings and resale revenue units. He finished on top of sales associates from 29 other Weichert offices located throughout Virginia to earn the awards. Morrow is a member of the Chairman of the Board Club Elite at Weichert and finished seventh in the Capital Region in 2004 in terms of listings sold. The Capital Region includes 52 offices located throughout Maryland, Virginia and Washington, D.C.

The Craftmark Group benefited from the continued demand for new homes in the Washington region in 2004 with a dollar volume exceeding $369 million on 574 total sales, representing an increase of over 27 percent in dollar volume versus 2003. The Craftmark Group entered 2005 with a backlog of 375 sold homes exceeding $258 million in value.

Dan Laytham was named by Roger Applegate, manager of the Great Falls Long & Foster office, as the top producer, top lister, top seller and the agent with the most new listings with a sales volume of $6,909,175.

Lilian Jorgenson was named by Anise Snyder, manager of the McLean Long & Foster office, as the top producer, top lister and the top seller with a sales volume of $12,159,185.

Marianne Prendergast was named by Paul Gale, manager of the McLean Elm Long & Foster office, as the top producer, top lister and the top seller with a sales volume of $3,834,000, and Florann Audia was named as the agent with the most new listings.

Jan Bhar, branch manager of Weichert, Realtors, Great Falls Office, announced that several sales associates have been honored for their achievements in January. Melissa Fones earned the honor of top producer, leading the way in dollar volume, revenue units and sales. Fones is a member of the President's Club and earned a National Sales Award in 2004 for being in the top 5 percent of sales associates nationwide. Chairman of the Board Premiere Club member Christine Richardson topped the branch in listings for the month, while chairman of the board Elite member Carole Ellickson led the office in listings sold. Ellickson earned membership in the Chairman's Gold Club in 2004, signifying a high level of sales financed through Weichert Financial. She tied for 15th in the Capital Region last year in Weichert Family of Companies dollar volume, out of associates from 52 offices in Maryland, Virginia and Washington, D.C. Both Ellickson and Richardson earned National Sales Awards in 2004.

Janet Hewitt, branch manager of Weichert, Realtors, McLean/Dolley Madison Office, announced that Margaret Hollar has been honored for her achievements in January. Hollar led the office in dollar volume, revenue units, listings, listings sold and total sales, earning the honors of top producer and top seller. She is a member of the top-ranking Chairman of the Board Premiere Club and finished in the top 10 of five sales categories in the Capital Region in 2004. The Capital Region includes 52 Weichert offices located throughout Maryland, Virginia and Washington, D.C.

Arlis Simmons, branch manager of Weichert, Realtors, McLean Center Office, announced that several sales associates have been honored for their achievements in January. Earning the honor of top producer was Sue Huckaby, a member of the Chairman of the Board Premiere Club. She led the office in dollar volume, revenue units, listings and listings sold. Huckaby finished second in 2004 in the Capital Region in the categories of gross commission and dollar volume, and was third in listings sold. The Capital Region includes 52 Weichert offices located throughout Maryland, Virginia and Washington, D.C. Chairman's Club member Jin O'Neill earned the honor of top seller for the month. Both O'Neill and Huckaby earned National Sales Awards in 2004 for being in the top 5 percent of sales associates nationwide.