Major burglary ring hit about 40 homes in Fairfax County, authorities say

Four men were indicted on racketeering charges Monday in connection with a major burglary ring that allegedly took more than $1 million from the homes of immigrants and people of Middle Eastern and Asian descent in Fairfax County, prosecutors announced.

Most of the suspects lived in New York, but police said they traveled to Virginia to carry out roughly 40 burglaries between October 2018 and February 2020 in homes in Oakton, Fair Oaks, McLean and other locations.

“The homes appear to be burglarized when the owners were out of town or gone for the evening,” said Fairfax County police spokesman Anthony Guglielmi. “We suspect they were surveilling and profiling victims.”

Items stolen include an antique gold watch worth $30,000 to $40,000, $100,000 in cash and valuable artifacts from Africa and China, Guglielmi said. In all, police believe the value of the stolen items could be as much as $1.6

Read More

Fairfax and Allied World Announce Sale of Vault Insurance

TORONTO and HAMILTON, Bermuda, Nov. 12, 2020 (GLOBE NEWSWIRE) — Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) and Allied World Assurance Company Holdings, Ltd (“Allied World”) announce that they have, through their subsidiaries, entered into an agreement with Cornell Capital and Hudson Structured Capital Management Ltd., doing its reinsurance business as HSCM Bermuda, to sell their majority interests in Vault Insurance. Fairfax through Allied World will continue to own a 10% stake in Vault following the sale. Scott Carmilani intends to continue to have an ownership interest in Vault and play a leadership role in Vault. The transaction is subject to customary closing conditions, including various regulatory approvals, and is expected to close by the end of the first quarter of 2021.

Founded in 2017 and based in St. Petersburg, Florida, Vault is a combination of a policyholder-owned reciprocal insurance exchange and a surplus lines company focused on

Read More

Montgomery and Fairfax among the counties where homes are becoming more affordable

Some homeowners may rejoice at rising home prices. But for those who want to move up or buy their first home, double-digit price increases made it more difficult during the third quarter of 2020, according to a recent report by ATTOM Data Solutions, a real estate data analysis firm.


Load Error

The 2020 U.S. Home Affordability Report showed that the median home prices of single-family homes, townhouses and condos in the third quarter of 2020 were less affordable than historical averages in 63 percent of counties in the United States.

Overall, houses were unaffordable to the average wage earner in 61 percent of the counties in the report. In this report, unaffordable refers to a median housing payment that is more than 28 percent of the average wages in the county. The main culprit: spikes in single-family home prices that outweighed the benefit of lower mortgage rates.

Study: D.C. is

Read More