As the presidential election approaches, one thing is clearly on the next president’s agenda: affordable housing. While numbers compiled from various sources indicate recovery for the housing market, many things remain to be repaired. It will be up to the next president to create and implement solutions that keep the housing market headed in the right direction.

The Impact of the Economy

The president’s economic plan will weigh heavy on the housing market. Employment rates need to improve so that more people can afford new homes, or keep the one they have. The policies that the president enacts will have a direct impact on the continued recovery of the housing market.

These policies will also affect the mortgage rates, and whether people can afford to sell their homes as well as buy them.

What Are Their Plans?

While neither candidate has outlined a complete plan dealing with housing, both have hinted at some ideas they have. President Obama plans to build on the policies already in place to provide relief to current homeowners who are trying to keep their homes. He plans to continue to implement new rules to govern housing and make it easier for people to refinance their homes.

Romney plans to do away with current legislation and create more streamlined policies to make it easier for small finance institutions to get back into the mortgage market.

What to Watch For

The government now backs almost all of the mortgages that have originated since they took over Fannie Mae and Freddie Mac. The next president will have to decide how to continue backing mortgages. This will have a major impact on mortgage rates and the price of homes.

President Obama plans to create a new government system to replace Fannie and Freddie, but hasn’t given details on what it will be. Romney wants to see private investors replace the government for backing home loans.

One area that both candidates agree on is what to do with the foreclosed homes the banks currently own. They both support selling these foreclosed homes to be used as rental properties. They say that with fewer foreclosures on the market, home prices will increase.

Another area that will have to be dealt with is the subject of down payments. Tighter restrictions and regulations have been imposed to protect lending institutions and buyers, but it also limits the number of people who can buy a home. The question everyone will be asking is if these regulations will be loosened to allow more people to get a mortgage.

Regardless of who wins the next election, they will have to deal with the issue of mortgages and the housing market. There will be many decisions to be made that will affect anyone who wants to buy or sell their home. In the end, what the next president does for the economy will either drive the housing market further towards recovery, or further away from it.

If you want more info on Wilmington homes for sale, or houses in Wrightsville Beach, Carolina Beach or Kure Beach -- contact Coastwalk Real Estate at 910-458-9119

Super ocean front beach home in Kure Beach, NC. This spacious oceanfront retreat is located within the Fort Fisher columns and is perfect for big family vacations, year round living, or rental income purposes. If you like the beach, this home is ideal with its own private walkway, and tons of deck space. It's not uncommon to see porpoises dancing in the waves! The open floor plan with large kitchen and dining area offer the perfect spaces for entertaining while overlooking the ocean. The master suite has lots of space, and boasts its own private deck. Four other spacious bedrooms provide plenty of room for guests, or use one as a home office. On the ground floor there is a two car garage, workshop and tons of storage space. As an added bonus, 1043 S Fort Fisher blvd is on an extra wide lot, measuring 60 feet, per iMapp measurements (20% larger than more typical 50ft wide lots). Great for resale and investment purposes. Ready for showings!

To view the property photos - visit http://www.listingsmagic.com/46055

Listing provided by: Justin Donaton

Coastwalk Real Estate
Phone: 910-458-9119
Cell: 910-352-0998
Equal Housing Opportunity Information Deemed Accurate but not Guaranteed.

Contact Coastwalk Real Estate 910-458-9119 if you want to look at this super beach home in Kure Beach: http://www.coastwalkrealestate.com/search/details/2e1c/0/

Provided by Justin Donaton

Call 910-458-9119 for a showing today, or visit www.CoastwalkRealEstate.com for more info -- Home sweet home! 200 S Fifth Ave in Carolina Beach offers a super location that's a short walk to the beach -- and in a nice residential area of town. Here's what really special about the home... There are 3 bedrooms and 2 full baths in the main living. The kitchen is pretty big, and the living room has vaulted ceilings. There is a large wrap-around deck...and the front porch is awesome. You'll love the Magnolia Tree out front. The home also sits on a corner lot. It just feels like home! On the ground floor there is a private suite with its own entrance. There is a kitchen area, small living room, bedroom and a full bath. There's an area for storage as well. Its not connected via an internal staircase, so the square footage, the bedroom and the full bath is not included in the total for the home. In total, you are getting 4 bedrooms, and 3 full baths! Lots of space below the house too, and a carport for parking cars, or beach toys! Lots of potential with this one, so hop on it!

To view the property photos - visit http://www.listingsmagic.com/50785

Listing provided by: Justin Donaton

Coastwalk Real Estate
Phone: 910-458-9119
Cell: 910-352-0998
Equal Housing Opportunity Information Deemed Accurate but not Guaranteed.

Will the 3.8% Tax on Real Estate Affect You?

By Phyllis Brookshire

As you may have heard, the federal government has implemented a new tax on real estate transactions that will become effective January 1, 2013. There are many misconceptions about properties and taxpayers that will be subject to this new tax – read on for some good news if you are concerned!

The tax is NOT on the sale or purchase price of the property. The tax relates to the capital gain (profit) realized between the original purchase price and the final sale price the seller received. It is NOT a tax to the buyer.

The seller will only pay (all or part) of the tax in very unique situations:

• The seller must have a minimum Adjusted Gross Income (AGI) of $200,000 as an individual or $250,000 for joint filers
• Anyone with income less than $200,000 AGI ($250,000 joint filers) will NOT be subject to the tax
• There must be a gain (profit) between the original purchase price and the final sale price which exceeds $250,000 as an individual ($500,000 joint filers)
• Any transaction with a gain (profit) of less than $250,000 ($500,000 joint filers) will NOT be subject to the tax

Qualifying Criteria: If the seller makes more than $200,000 ($250,000 joint filers) AND if the capital gain on the sale of the property exceeds $250,000 ($500,000 for joint filers), the tax needs to be calculated.

• The tax is NOT 3.8% of the sale price
• The tax is NOT 3.8% of the entire gain (in most cases)

Here is a real world example of how the tax is calculated IF the two qualifying criteria are met:

John and Mary Smith are a married couple filing jointly.

The tax is calculated on the LESSER of (a) the amount of the gain or (b) the excess AGI over the $200,000 ($250,000 joint filers) amount. Since the $25,000 is less than the $100,000 excess ($350,000 income less $250,000 joint threshold); the tax is calculated on the $25,000 gain.

$25,000 X 3.8% = $950 tax due on a gain (profit) of $525,000.

So, you see that this tax will have zero impact on most residential real estate transactions in our market.

Remember the take-aways:

• Your AGI must exceed $200,000 ($250,000 for joint filers)
• You must have a capital gain on the sale of your property which exceeds $250,000 ($500,000 joint filers)
• The tax is calculated on the GAIN (profit), not on the sale price
• The tax is calculated on the lesser amount of the gain or the excess of AGI over the $200,000 ($250,000 for joint filers) threshold
• The buyer never pays any portion of the tax
• Most sellers will not be subject to the tax – only those meeting the qualifying criteria in the first 2 points

If you need further explanation, please consult with your tax accountant or tax attorney.

Marsha R. Stone

Branch Manager/Sr. Mortgage Banker

NMLS ID 90796

American Security Mortgage

1015 Ashes Drive, Suite 100

Wilmington, NC 28405

910-232-3221 (cell)

888-657-1116 (efax)

910-239-5310 ( direct line)

Kure Beach is a great place to buy a home. There are nice reasturants and shops, and beatuiful beaches. It has Ft Fisher to the south, which is a historic site, along with an aquarium and ferry. To the north is Carolina Beach, which offers a more bustling nightlife. 30 minutes from Wilmington, the hospital, UNCW and the airport.

If you would like to see homes for sale in Kure Beach, click here: http://www.coastwalkrealestate.com/kure-beach-real-estate/

Here is a really nice home for sale at 955 S Fort Fisher Blvd:

http://www.coastwalkrealestate.com/property/4fd7f4b3b7bd6760630000dd/

Oceanfront living at its finest in the pristine area of the beach located within Fort Fisher gates. This handsomely furnished, 6 bedroom, 5.5 bath home in Fort Fisher is a luxurious escape with maple hardwood floors, extensive trim moldings, gas fireplace, innovative sound system, elevator, custom cabinetry, irrigated landscape and spectacular ocean views from the balcony and awning covered deck. The quality and meticulous maintenance of this home represents the pride of ownership by its original owners.

Contact Coastwalk Real Estate for more info on area homes!!!!

910-458-9119

New Hands-Only CPR Is Easy, Saves More Lives 

An adult suddenly collapses in front of you.  Will you feel helpless or know what to do to save his or her life?  You’ll be glad to know that the American Heart Association has simplified things so anyone can save a life. This new CPR method doesn’t require certification or mouth-to-mouth contact but can double the chance of survival.* 

Don’t worry about hurting the person.  If they’ve stopped breathing, you can only help them.  Good Samaritan laws protect you from legal risk.  It’s better to break a rib than stand by in fear of not doing the right thing.  Here’s how to use continuous chest compression CPR to save lives:

1. 1.                  Call 911.  Tell them your location and that someone is not breathing.

Lay the person on their back on a hard surface.

1. 2.      Place the bottom your palm in the center of the person’s chest with your other palm on top of it.
2. 3.      Lock your elbows and put your shoulders directly above your hands in the center of the person’s chest.  Use your entire upper body to force the chest cavity downward.
3. 4.      Push HARD in rapid repetitions.  When you compress the chest with quick forceful motion, the recoil of the person’s body allows the heart to continue pumping blood.  With blood circulating, the brain gets what it needs and your action can keep the person alive.
4. 5.      Maintain the pumping action at a rate of 100 times per minute until paramedics arrive.  It’s best to have a second person to take turns with you to keep up the pace.  The beat from the song Staying Alive by the Bee Gees is about the speed you need.
5. 6.      Do not stop to check for breath or a pulse.  Keep compressing the chest until help arrives.

To watch a short video that demonstrates this easy method, go to the American Heart Association’s website at: www.handsonlycpr.org.  *Conventional CPR (with your mouth) may be better than Hands-Only CPR for infants and children, or teens and adults whom you did not see collapse.

Thinking Of Selling Your Home Soon?

Don’t attempt to sell your home without my Free consumer guide, “44 Money-making Tips For Preparing Your Home To Sell.” My exclusive report will give you all the facts for a fast, top dollar sale.  Just call 910-352-0998 anytime, 24 hours, and I’ll rush a copy out to you. Coastwalk Real Estate is here to help you buy or sell real estate in Wilmington, or at the beach. www.CoastwalkRealEstate.com

Here is a summary of sales for the Wilmington area according to WRAR.

As you can see, sales ahve increased with regards to the number os untis SOLD. Prices have dropped slightly, on average by 3%. From what I have  personally seen, homes in the higher price rnagesa re those that have fallen some in value tis past year.

Houses in the $200,000 - $500,000 price ranges seem to be a pretty hot item these days - especially wiht low interest rates.

Here are some links for homes for sale in the area:

Wrightsville Beach ocean front homes: http://www.coastwalkrealestate.com/wrightsville-beach-real-estate/

Wiilmington foreclosures: http://www.coastwalkrealestate.com/wilmington-nc-foreclosures-200000-300000/

New Homes in Wilmington: http://www.coastwalkrealestate.com/wilmington-nc-new-homes-109900/

Homes in Carolina Sands in Carolina Beach: http://www.coastwalkrealestate.com/carolina-sands-carolina-beach/

Land and homesite in WIlmington and Carolina Beach and Kure Beach Land: http://www.coastwalkrealestate.com/vacant-land/

New Disclosures Required Beginning Oct. 1

Dear Forms Guy: We’ve heard that the Offer to Purchase and Contract (form 2T) has to be changed soon to include a seller disclosure about oil and gas rights. Is that correct? Sincerely, Frick and Frack

Dear Frick and Frack: Yes, that is correct. The so called “fracking” legislation (Senate Bill 820) enacted by the General Assembly this past summer over the Governor’s veto included a section addressing concerns pertaining to the wellpublicized situation involving Triangle area buyers of D.R Horton homes who claimed they didn’t understand that Horton had retained mineral rights in the properties they bought. Section 5 of Senate Bill 820 amends the Residential Property Disclosure Act to require sales contracts of residential properties covered under the Act to include an “Oil and Gas Rights Disclosure.” The wording and format of the new disclosure is set forth in Senate Bill 820, a copy of which can be accessed on the General Assembly’s website (ncga.state.nc.us). Once you navigate to it, the text of the new disclosure begins at the bottom of page 24. Sincerely, Forms Guy

Frick: When will the new disclosure go into effect?

Forms Guy: Section 5 of Senate Bill 820 goes into effect Oct. 1, 2012. Therefore, effective this coming Oct. 1, the Offer to Purchase and Contract (form 2T) has been amended to include the new Oil and Gas Rights Disclosure.

Frack: Have any other forms been changed to include the new disclosure?

Forms Guy: Yes. The Oil and Gas Disclosure has also been added to the Offer to Purchase and Contract New
Construction (form 800T) effective Oct. 1.

Frick: Wait a minute. The Residential Property Disclosure Act doesn’t apply to sales of new construction homes, does it? Why would the new disclosure need to be included in a contract for new construction?

Forms Guy: Great question, Frick. Although transfers of new construction typically are exempt from the requirements of the Residential Property Disclosure Act, subsection (b2)(1) of Senate Bill 820 makes it clear that such transactions are not exempted from the new Oil and Gas Rights Disclosure requirement.

F O R M S G U Y

Frack: How about the Offer to Purchase and Contract Vacant Lot/Land (form 12T)?

Forms Guy: Great question, Frack. The Residential Property Disclosure Act does not apply to transfers of property that don’t include one to four dwelling units, and Senate Bill 820 did not impose any requirement that the Oil and Gas Disclosure be added to contracts for the transfer of such property. Since it’s not required by law, the Oil and Gas Rights Disclosure is not being added to the Offer to Purchase and Contract Vacant Lot/Land (form 12T) at this time. However, the possible addition of the Oil and Gas Rights Disclosure to form 12T will be discussed this fall.

Frick: How are forms 2T and 800T being changed to include the new disclosure?

Forms Guy: The Oil and Gas Rights Disclosure will be added as a new paragraph 7(f) in the Offer to Purchase and Contract (form 2T) and in a new paragraph 9(e) in the Offer to Purchase and Contract New Construction (form 800T).

Frack: When will the updated forms be available?

Forms Guy: You can get PDF copies of both forms now on the NCAR website (ncrealtors.org). After you log in, click on the “Forms and Contracts” button and on the next page click on “Go directly to the Forms and Contracts Library.” Then, select “NCAR/NC Bar Association Joint Forms” in the dropdown menu to access forms 2T and 800T. Since the existing versions of the forms will also be available through the end of September, be sure to select the Oct. 1, 2012, versions of the forms. The updated forms have been sent to NCAR’s two approved forms software vendors. Questions about the rollout date for an updated forms software program should be directed to your vendor.

Frick: Will we have the customary 60day grace period to transition to the new versions of these forms?

Forms Guy: Senate Bill 820 does not contain a grace period, so the answer is “no.” Contracts on all transactions covered under the new law entered into on and after Oct. 1, 2012, should include the new Oil and Gas Rights Disclosure. And that goes for all covered contracts, not just standard NCAR/NC Bar Association forms.
This article appears on page 26 of the current edition of NCAR’s Insight Magazine

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If you need more information on real estate in Wilmington NC, or  homes for sale in Wrightsville Beach, or Carolina Beach Real Estate, please contact your friends at Coastwalk Real Estate. You can also search for homes here:

http://www.coastwalkrealestate.com/kure-beach-real-estate/

910-458-9119

Coastwalk Real Estate

NEWS ALERT!!!!!

 Bonds are up 118 bps …and rising. Holy Smoke! Hard to imagine rates getting even lower…….

Thu, Sep 13 - 3:20 PM ET
The 3% coupon hits a fresh all-time high of 104.44.

2:33 PM ET - With a 1.70% rise in the S&P today to 1,460, it is now only 6.7% off its all-time of 1,565 hit back on October 9, 2007.

2:32 PM ET - Bernanke says that the latest round of Bond buying to lower rates.

2:27 PM ET - Bernanke says the Fed can't solve the economic problems alone, urges other officials to act.

2:20 PM ET - Stocks soar after the QE3 announcement - the Dow is up 180 points.

2:19 PM ET - Bernanke says the new MBS purchase program should support the housing sector.

1:16 PM ET - The benchmark 3% coupon is approaching its all-time high of 104.41, now at 104.0

Pat Holsten

Regional Vice President

Senior Mortgage Banker

NMLS ID 90584, NC 105585, VA MLO-7593VA, SC MLO-90584

American Security Mortgage

1015 Ashes Drive, Suite 100

Wilmington, NC 28405

910-239-5308 (direct)

888-412-3334 (efax)

910-471-1617 (cell)

Fall is my favorite time of year at the beach! The weather is perfect, the water is still warm, there are some good waves, and there are lots of activities happening around the island!

This week I wanted to share some of my favorite things to do (and places to visit) in Kure Beach (next week I’ll hit Carolina Beach)!

My absolute favorite place on the island is the Ft Fisher Basin. It’s fun to watch the ferry cross the Cape Fear River. Within the basin itself is the perfect place to kayak, paddleboard, or even kite surf.

While you are there, be sure to check out the Hermit’s bungalow, or paddle across to Zeke’s Island for one of the best nature experiences around!

As you are leaving the basin in Ft Fisher, be sure to check out the aquarium…we visit about once a week in the off season. The new children’s playground is super…and inside we love watching the albino alligator. The staff at the aquarium is awesome…always friendly…and always willing to share their wealth of knowledge with you!

Another great spot in Kure Beach is The Cove in Ft Fisher. This is one of the prettiest beaches around. Live Oak Trees to the west, and rock formations to the North and South make this a truly beautiful spot!

At the traffic light (there is only one) in Kure Beach you’ll find a handful of family-owned businesses to patronize. There are some yummy restaurants to try!

The Kure Beach pier is great for fishing, or for watching people fish. Great souvenirs can be purchased here too.

The Kure Beach business district just has a mellow vibe that keeps you coming back. I love playing Ms. Pacman and Centipede…so if you look closely you’ll find where you can play too!

A few blocks to the West is the Kure Beach Town Park. There is no shortage of things to do here including great tennis courts, basketball, Bache, and one of the best playgrounds around. There’s a dog park for Fido, walking trails and a top-notch Frisbee Golf course!

There are a lot of other hidden treasures in Kure Beach including great beach spots, tidal pools, nature trails and more…so get on out there and discover them this Fall!

If you would like to search or see homes for sale in Kure Beach, please click  here: http://www.coastwalkrealestate.com/kure-beach-real-estate/