Take Action: Extend and Expand the Homebuyer Tax Credit!

As we have communicated to you over the last several months, Realogy and NRT have taken a leadership position vocalizing our strong support of extending and expanding the existing homebuyer tax credit. With the existing tax credit window now rapidly closing for first-time homebuyers, now is the time for all of us to make our voices heard.

The fact is, nothing has done more in the past year to jumpstart our housing market more than the $8,000 first time home buyer credit. The National Association of Realtors recently issued a Call for Action to its 1.2 million members in support of extending and expanding the existing homebuyer tax credit.

That leads me to your October Reality Check challenge. This month, I am asking you to go online to NAR’s Realtor Action Center and use their turnkey communications tool in order to contact each of your elected officials in Washington, D.C. Collectively, we must impress upon Congress the importance of extending and expanding the homebuyer tax credit legislation in order to accelerate a broader economic recovery.

Specifically, Realogy and NRT support expanding the tax credit from first-time buyers to all homebuyers, increasing the maximum amount of the tax credit from $8,000 to $15,000, eliminating the existing income caps for eligibility purposes, and extending this homebuyer tax credit for one year from the date of enactment.

Stimulating demand for housing – particularly in the repeat buyer market – is the most effective way for Congress to help lead the U.S. economy into a recovery and back on the path to growth. Timing is critical. We ask that you take action today or this week.

Thank you for your continued support.

Rick Turley
President
Coldwell Banker Residential Brokerage
San Francisco Bay Area
2355 Market Street
San Francisco, CA 94114
415.577.5538 mobile
415.437.4505 office
rturley@cbnorcal.com