For Immediate Release:
November 5, 2009

NJAR^®: Extension and Expansion of Tax Credit will Boost Housing Market

New Jersey REALTORS^® thank Congressional delegation for their support

(Edison, NJ) Reacting to Congressional passage of H.R. 3548, which includes a provision extending and expanding the home buyer tax credit, the New Jersey Association of REALTORS^® (NJAR^®) Executive Vice President Jarrod C. Grasso, RCE, today issued the following statement:

"The actions taken this week by the U.S. Senate and House of Representatives are a tremendous step in the right direction towards the continued stabilization of the housing market. The New Jersey Association of REALTORS^® would like to thank the 12 members of our state’s Congressional delegation and the two Senators who voted in favor of this measure. This important legislation will extend the first-time home buyer tax credit until April 30, 2010 and expand the availability of the credit to current homeowners.

"We urge President Obama to take swift action and sign this bill as a means to further aid those consumers considering buying or selling real estate. As we’ve seen with the tax credit before, this added incentive can help make the American dream of homeownership a reality for more New Jerseyans, and further boost both the state and national economies. In a high-cost state like New Jersey, this is exactly the type of stimulus measure that will get our state back on track."

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The New Jersey Association of REALTORS^® is a non-profit organization serving the professional needs of approximately 50,000 REALTOR® and REALTOR-ASSOCIATE^® members in the state. REALTOR^® is a registered collective membership mark which may be used only by real estate professionals who subscribe to the REALTOR^® organization's strict Code of Ethics and are members of the national, state and local REALTOR^® organizations. For more information, please visit www.njar.com.

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Lauren Castellano
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Phone: (732) 494-4709
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