UPDATE FOR HOME BUYERS TAX CREDIT

REALTORS®

From: Charles McMillan, 2009 NAR President

Re: Tax Credit Extension/Expansion Gains Momentum

Dear Fellow REALTOR®,

With Congress moving quickly on a number of key issues, I wanted share some important news that you won't read in the newspapers.

In my latest podcast, I explain why momentum is building - both in Congress and the Administration - in support of extending and possibly expanding the $8,000 first-time homebuyer tax credit.

http://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_credithealthreform_20091020

My podcast also provides updates on other important activities in Washington, D.C., this week:

• First, NAR's federal political coordinators are in town to urge Congress to act now on the tax credit. If you haven't yet sent a letter to your Representatives and Senators, please go to the REALTOR® Action Center now and answer the call. We are so close - please keep pushing!

http://takeaction.realtoractioncenter.com/campaign/hbtc?qp_source=dotorg&LID=RONav0019

• Second, NAR First Vice President Ron Phipps also was on Capitol Hill to testify before the Senate Banking Committee on the need to extend the tax credit and to address several remaining challenges in the real estate market. I urge you to read Ron's testimony and stay engaged in these issues in the months ahead.

http://www.realtor.org/fedistrk.nsf/files/testim_sbhua_102009.pdf/$FILE/testim_sbhua_102009.pdf

• Third, NAR continues to actively engage in the debate over healthcare reform. We are meeting with key lawmakers and urging them to make sure the needs of small business owners and employees are a priority. When a final bill emerges, NAR will take a position and explain exactly how the provisions will impact you - our members.

http://www.Realtor.org/healthreform

On behalf of NAR, I thank you all for your participation in our ongoing advocacy efforts. Thanks to you we are starting to see real progress in our markets and the economy. I look forward to celebrating our success with all of you in San Diego, as we chart a new course, "United Toward Tomorrow."
Sincerely,



Charles McMillan
CIPS, GRI
2009 NAR President