15 New Jersey jobs are created for every house built or sold.

Today, Congressman Leonard Lance (NJ‐07) joined officials from the New Jersey Association of REALTORS® (NJAR®) in support of extending the popular home buyer tax credit through 2010 and expanding it to all New Jersey home buyers. The current tax credit is expected to expire Nov. 30, 2009.

NJAR President Diane Dilzell. Said "The extension and expansion of the home buyer tax credit is crucial to continue strengthening the housing market, our state and national economies.

"It is estimated that in New Jersey more than 45,700 first‐time buyers have taken advantage of the current tax credit which expires next month," Lance said. "Extending and expanding the tax credit could continue to boost home sales statewide while reducing inventory at all levels of New Jersey's housing market."

Lance introduced a bill earlier in the month that applies to all primary residence purchases, not second homes or investment properties. Additionally, under his bill homeowners who fail to remain in the home for at least three years must return the tax credit in full.

Given that fact that 15 jobs are created for every house built or sold, expanding and extending the home buyer tax credit is just the type of economic stimulus our government should be investing in.

Lance pointed out that his bill is fiscally responsible because it calls for the use of unspent federal stimulus funding to cover the costs of the legislation. E-mail your congressman,,,,,,

Dawn Marie White Broker-Manager

Crossroads Realty Inc

732-581-9414 Direct 732-657-1300 Office