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.

Wednesday, October 8, 2008

DePriest Departure

I'm told that the Chief Operating Officer of the North Carolina Association of Realtors, CPA William "Bill" DePriest has resigned suddenly. DePriest is/was an officer in NCAR's various for-profit entities and was the treasurer and/or custodian of books for the NC Realtors PAC, the Realtors 527 political committee known as the NC Homeowners Alliance and, the various county anti-transfer tax committees set up over the past year for which he managed payments. An examination of public reports shows that money flowed freely between NCAR's various non-profit and for-profit entities and political committees.

For-profit NCAR subsidiaries include:
NCAR Management Corporation
NCAR Service Corporation
Realfast, Inc.
RealServ, LLC
DePriest's wife Joanne is/was Director of Education for Realfast, Inc.

The timing of DePriest's departure is curious. This week the NC Realtors annual conference is being held in Charlotte and elections are coming up, including a transfer tax referendum in Polk County. DePriest is still listed as Treasurer for the NC Realtor's PAC. State Elections laws require a new Certification of Treasurer within 10 days of a change along with a revised Statement of Organization.

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