Hugh "Scooter" Willey

Currently, the rate on long-term capital gains is scheduled to revert to 20% in 2011 under the current law. Here is a table of capital gains tax rates at the federal level for the past two decades:

http://www.taxfoundation.org/taxdata/show/2088.html

Obama has vowed to increase the capital gains tax along with the top income tax rate as part of a extensive string of tax increases to bankroll his ambitious social-welfare spending agenda. The Senator isn't into growth economics. When he talks about taxes, it is in terms of "fairness". - Sat Sep 20 2008, 23:06

Laura,
Have your thought about sending your resume to local lawyers, doctors, CPA's, Insurance firms, Outer Banks Hospital, NC Aquarium, College of Albemarle, or to local school systems? If your financial background includes knowledge of QuickBooks, you may be able to start your own bookkeeping business for independent contractors.
I relocated to Colington Harbour, Dare County from Chesapeake. I knew that I wanted to relocate here. We have had a 2nd home in Colington Harbour for a long, long time! I spent my off-time building houses, flipping houses, & selling real estate in Nags Head, so that eventually we could relocate here full-time. Please free to search the OBX MLS 24/7 on my website http://www.nagsheadhomes.com , when you begin your search for a home or if you find a vacant lot, I can build you a home!
Hope you are able to find a job here! Its a wonderful place to live.

Hugh "Scooter" Willey
Coldwell Banker Seaside Realty
252-489-8491 - Sat Jul 5 2008, 20:35

Barbara,
Savvy investors like you understand how important real estate is to their portfolios. Did you know that nationally, about one third of all home sales are second homes or vacation properties. In North Carolina, it is nearly 40 percent, largely because of our inventory and desirable locations both in the mountains and on the coast. AND RIGHT NOW is a great time for vacation home buyers in the Outer Banks (especially in Duck and Corolla). There are several factors that point to this:
• Selection, selection, selection. Regardless of the price range a buyer desires, there are plenty of vacation houses from which to choose. Just a few years ago a buyer was forced to make compromises if they were going to locate the vacation home of their dreams. Currently, there is a great selection of properties.

• No Bidding Wars. In 2005, buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer's market.

• You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price versus the list price ratio is almost always less in most areas of the Outer Banks. A seller will not be insulted if you 'make them an offer they can't refuse'.

• Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision.
• Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.

• Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.

• Location, location, location. Today's buyers can find homes in their ideal location. In this market, reasonably priced homes are located all over the Outer Banks.

• Real financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are back in business.

It's a great time to buy real estate!

Additionally, it makes sense to use a North Carolina realtor when you finally decide to buy that vacation home. If you had a $350,000 legal question, would you deal with it without an attorney's assistance? If you had a $350,000 income tax issue, would you dare risk not consulting a CPA? There are nearly 45,000 realtors in North Carolina who subscribe to a strict code of ethics and are expected to maintain the highest level of knowledge of the process of buying and selling a home.

While you decide whether to make that first step and purchase your dream vacation home in Duck or Corolla, NC, feel free to search the Outer Banks MLS 24/7 on my website at http://www.nagheadhomes.com . You can also enter your search criteria under “DREAM HOME FINDER” and I will keep you updated with vacation homes that come on the market that meet your criteria.

Best Regards,
Hugh "Scooter" Willey
hugh@seasiderealty.com
MOBILE: 252-489-8491
Associate Broker ~ Licensed NC Builder
Coldwell Banker Seaside Realty - Thu Jun 19 2008, 20:59

So, you're thinking of purchasing a potential rental property in Southern Shores. Historically, real estate investments have proven to be a wise investment strategy. The name of the game has always been maximizing cash flow. Years ago, one could realize a healthy rate of return based on cash flow generated from rental income alone, however, with rising property costs, the number of beach properties with a substantial positive cash flow are dwindling.

Purchasing an Outer Banks rental property has proven to be a wise choice in today's investment world. This is evident in the number of investors that continue to re-invest in the market. With property values half of that in other coastal markets and historically low interest rates, there is still a fantastic opportunity for growth.

For the 1st quarter of 2008, the Outer Banks MLS statistics for Southern Shores the average sold price percentage to original list price is as follows:
Oceanside 94%
Canal/Soundfront 85%
Westside 87%

Before you buy, I would like to suggest a few things for you to consider. However, you may already be working with a real estate broker and it would not be ethical of me to interfere. If you have not already signed a “Working with Real Estate Agent” and “Buyer’s Agreement”, I would love the opportunity to do a FREE Comparative Market Analysis (CMA) and Cash Flow Analysis (CFA), for the property that you are considering purchasing.
You can visit my website at http://www.nagsheadhomes.com to read ABOUT ME or you may contact me at:
hugh@seasiderealty.com
MOBILE: 252-489-8491
Hugh “Scooter” Willey
Sr. Assoc. Broker ~ Licensed NC Builder
Feel free to search my website 24 hours a day, the Outer Banks MLS, on my website. - Mon Jun 2 2008, 11:19

After experiencing double-digit rates of appreciation for several years, the average selling prices of properties have declined. Yet, prices in the Outer Banks continue to offer a very strong value relative to other resort areas along the east coast.

This is an excellent time to be a buyer in the Outer Banks. An abundant supply of homes for sale means that an attractive selection of properties is available for buyers’ consideration, and the purchasing environment is less stressful with fewer buyers in competition with each other. In addition, sellers may be more willing to make concessions during contract negotiations. Interest rates continue to be low, and the median price of residential properties has declined making homes more affordable.

When all is said and done, it’s a great time to be a buyer in the Outer Banks!

Feel free to search 24 hours a day, the Outer Banks MLS, on my website:

http://www.nagsheadhomes.com

If I can answer any further questions, please contact me at:

hugh@seasiderealty.com
252-489-8491 (Mobile)

Hugh "Scooter" Willey
Sr. Assoc. Broker ~ Licensed NC Builder - Mon Jun 2 2008, 10:28