This site is about the overreaching political power of the NC Association of Realtors flush with money from cashing in your equity 6% at a time, leaving you to pay for growth with property taxes, year after year, with or without cash flow. In the last few years NCAR has pumped millions of dollars into NC political campaigns at the state and local level. They have spent millions more to defeat Local Options for Local Governments with misleading ads.

Thursday, November 1, 2007

Astroturf Update 11/1

The Charlotte Observer has an article by Julia Oliver about this today:
N.C. groups finance local tax fights: Watchdog organizations say real estate interests trying to project grass-roots efforts

Total contributions to these Astroturf groups exceed $600,000 to date. (Editorial note, the chart for Harnett County should read $44,425.03 from state level NC Realtors and NC Homebuilders associations).

Union County Astroturf Report (via Charlotte Observer)

No local group has raised more money than the Union County Coalition Against the Transfer Tax. Of the $85,000 the group raised in the last month, about $50,000 came from the two state associations. The rest came from local realty companies and groups, including $20,000 from the Charlotte Regional Realtor Association.

2 comments:

North Carolina Mortgage said...

read my lips

'No More Taxes'

North Carolina Mortgage

gregflynn said...

That's about what I'd expect from a sub-prime mortgage broker specializing in zero-down, refi and, purchase-money mortgages. This is about smarter taxation. Property tax is not the right vehicle for rapid growth.

Where will you be found when property taxes go up to pay for the infrastructure? Schools, roads, water, sewer, public recreation attracts the jobs which drive the residential real estate market you profit from at closing. All the lender does is bump up escrow. For many homeowners squeezed into sub-prime loans that will be the straw that breaks the camel's back.

If people realized the true cost and variables of home ownership at closing they might make smarter choices. The proposed transfer tax is a fraction of a point that will be reflected in a lower and more stable escrow.