Realtors in Brunswick County may be hopeful that improved numbers the first two months this year signal an upward trend in the market, but they’re also asking state legislators to give the market more room to recover by not placing additional taxes or fees on the real estate industry.
The message came during the Brunswick County Association of Realtors’ (BCAR) legislative action and media presentation luncheon Monday at the organization’s facility at Supply. Association president Mary Ann McCarthy shared statistics showing residential sales were up 22 percent in January over last year and 57 percent in February.
“We’ve got a trend here,” she said.
Those in the industry are reporting more activity and more traffic, she added, though foreclosures continue to be an issue, with 1,623 in 2009 compared to 891 in 2008.
McCarthy also remarked on the cold weather many in the northern United States have experienced this winter.
“I hate it for them, but I think I like it for us. For buyers who are able, this winter could be a tipping point for us,” she said.
But the 802-member association is also asking for help from state government in giving the market room to grow.
BCAR chief executive officer Steve Candler presented the group’s legislative platform that opposes any increase in the state’s privilege tax. Though a plan to increase the fee Realtors pay for doing business from $50 to $200 did not go through, BCAR still wants the state legislature to leave the fee alone.
The association also opposes implementation of any tax on real estate services, including taxes on related services like home inspections and landscaping, as well as real estate transactions themselves.
The third goal is to endorse terminal groins for use at beach inlets. The N.C. Coastal Resource Commission (CRC) will have one final public hearing before presenting its recommendation on the issue. The CRC will hold a public hearing at Sunset Beach next Wednesday at 5 p.m.
“Please, if you want to see your beaches saved, your tax base preserved, you need to go to the CRC meeting and tell them you want to see terminal groins up and down the North Carolina coast,” Candler said.
Elected officials including state Sen. R.C. Soles, who received a standing ovation, state Rep. Frank Iler and county commissioners Bill Sue and Marty Cooke attended, as well as candidates for some of those same offices.
On the local level, Candler said BCAR wants to work with Brunswick County on the 2011 property revaluation, be involved in annexation reform discussions to help preserve private property rights, support the county’s and local municipalities’ efforts to preserve natural vegetation, and support a fair distribution of sales tax revenue in Brunswick County. The association will also hold candidate interviews and continue meeting with state and federal representatives.
After the meeting, Buddy Rudd, vice-president of Margaret Rudd & Associates and chairman of BCAR’s legislative committee, said new fees and taxes on Realtors could force even more of them out of work. He also said new taxes on services and transactions could make it harder for people to buy a home.
“Before long, you’ll price everyone out of the market,” he said.
Candler said though he knows the state budget needs help, tacking costs onto real estate would have a detrimental effect on the market. Lenders have already tightened their grasp on available money and North Carolina voters have clearly shown they do not favor a transfer tax, he said.
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Ken Keegan
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