ECONOMIC STIMULUS PLAN FOR HOUSING

Every 1,000 first-time home sales generated $126 million in other economic activity.

Every 1,000 home sales creates 935 jobs and $37.5 million in wages.

Until the housing market recovers, the hole in the sate budget will continue to grow. Real Estate Excise Tax collections were 28% lower in 2008 than 2007. That means $278 million less for the State's General Fund.

These are the legislative priorities of the Washington Association of REALTORS for 2009:

STEP 1: Bolster Demand - help first-time home buyers.

A. Provide down payment assistance to help first-time homebuyers (41% of the current arket share) become home owners. Helping first time home buyers creates a powerful ripple through the general economy.

B. Increase the Washington State Housing Finance Commission's bond capacity to expand down payment assistance.

STEP 2: Prevent Over-Supply - help families hold on to their homes.

A. Prevent foreclosures by expanding homebuyer education and counseling
programs and expanding refinancing options.

B. Clarify the distressed properties law to remove roadblocks to home sales.

STEP 3: "Do No Harm" to our struggling real estate market.

A. Stop taxes on real estate, business or services that would further harm the housing and commercial sectors.

B. Do not create additional barriers to home sales.

Source: Washington Realtors

David J Edwards
REALTOR
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF

David J Edwards is a full time real estate agent and REALTOR with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers.