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 Mortgage News.


Victoria Spannaus
Home Mortgage Consultant
Office: 910-692-6225
Fax: 910-695-1094
Toll Free: 800-741-7813

10796 US Hwy 15-501 South
Southern Pines, NC 28387

Daily Mortgate Rates
Home financing that meets your needs. Because your home is one of your biggest investments,it's important to ensure that your mortgage fits you. Times like these call for the diversity of our innovative financing programs. We'll help you find the mortgage solution that meets your current situation while complementing your long-term financial goals. Contact us today and start the homebuying process with a free consultation. We'll help you understand how much you may be able to borrow.



Everyone has their eye on rising energy costs, and homebuyers are no exception. According to the National Association of Home Builders(, smart sellers are responding to this trend with energy-efficient upgrades.

Which improvements can catch a buyer's eye?
A recent survey of professional remodelers pinpoints several value-adding projects:

  • Windows and doors:
    • Dual-pane,
    • Low-E windows that reflect both infrared and ultraviolet light
    • Insulated exterior doors.
  • Air sealing:
    • Foam or fiber insulation sprayed into wall and roof cavities.
  • HVAC systems:
    • High-efficiency heating and cooling equipment with the ENERGY STAR rating, combined with programmable thermostats.
  • Kitchen appliances:
    • Dishwashers
    • Refrigerators
    • Room air conditioners and dehumidifiers that have earned and ENERGY STAR label.
  • Water-saving fixtures:
    • Low-flow toilets, faucets, and shower heads.
  • Newer technologies:
    • Tankless water heaters that heat water on demand
    • Photovoltaic shingles
    • Wireless lighting.

You can also find more information about resource-efficient renovations from PATH-
Partnership for Advancing Technology in Housing



Although consumer understanding of credit scores has improved over the past year, it still remains poor. According to a recent survey commissioned by the Consumer Federation of America, this lack of knowledge can hit consumers where it hurts most-in their wallets. In fact, if all U.S. consumers raiser their credit scores by just 30 points, they could save $28 billion each year.

Just as importantly, confusion about credit scoring can jeopardize your ability to get a mortgage, a cell phone, insurance, or even a job.

To boost your financial IO, here are a few facts and fallacies about credit scoring:

  • Credit scoring quantifies your ability to manage debt; Scores are not influenced by personal characteristics such as age, income, marital status, level of education or race.

  • Making a monthly payment more than 30 days late will damage your credit score. Maxing out a credit card or opening several new accounts can do the same.

  • Consumers with credit scores above 700 usually qualify for lower "prime" rates, while those with scores of at least 760 pay the lowers interest rates, Borrowers with a score below 600 are almost always charged higher "subprime"rates.

You can receive a free credit report each year from the three major credit agencies, which you can access at

To obtain your credit score, however, you must pay a modest fee (starting at $15). To purchase your score, contact the Fair Isaac Company or one of three credit bureaus:

For a free consultation to discuss which type of mortgage loan will work best for you, call Victoria Spannaus at Wachovia Mortgage, FSB. at (800) 741-7813 or 910-692-6225.



If you have recently sold a home, calculating its cost basis may be important for federal income tax purposes. Though the 1997 Taxpayer Relief Act liberalized capital gains rules, it did not affect how your cost basis is calculated.

Begin with the purchase price of your home. Add the cost of any capital improvements that added value to your home, prolonged its useful life or gave it a new or different use. Add any special tax assessments you paid. Then add any amounts spent to restore property damaged by fire, flood, wind, etc., net of insurance reimbursements and deductions taken against income.

Now subtract settlement or closing costs (for both your initial purchase and subsequent home sale) which you have not previously deducted from taxable income (these do not include prepaid expenses such as real estate taxes, homeowner's insurance and prepaid interest). Subtract depreciation previously claimed for business use of your home. Finally, subtract payments received or credits for easements/rights-of-way, energy-related capital improvements, etc. The total is your adjusted cost basis. For additional information consult IRS publication 523 (Selling Your Home).

For a free consultation to discuss which type of mortgage loan will work best for you, call Victoria Spannaus at Wachovia Mortgage, FSB. at (800) 741-7813 or 910-692-6225.

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Golf Capital Properties
* Pinehurst Real Estate Specialists*


P.O. Box 4147
Pinehurst, North Carolina 28374