The National Association of Realtors (NAR) presented a plan to the House Financial Services Committee last week in hopes to stabilize the housing market and home values.  In a turbulent economy NAR would like to see worries eased and confidence return.  The housing market is an instrumental part of the national economy as a whole and restoring it is seen as a stronghold to a quicker recovery.  The four points of NAR’s recommended plan are:

1) Eliminating the repayment of the first-time home buyer tax credit that was passed in the February  stimulus bill, and to expand the tax credit to include all home buyers.
2) Make the increased FHA and conventional loan limits permanent to stimulate home sales and stabilize prices.
3) Put the Troubled Asset Relief Program back on track by targeting the funds for mortgage relief through a mortgage interest rate buy-down.
4) Finalize legislation to prohibit banks from entering into the business of real estate brokerage and property management.

NAR is hopeful that the new administration will look hard at the real estate industry and the impact it has on the economy.  Stabilizing the housing market will go a long way toward economic recovery and easing the minds of homeowners everywhere.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com.

For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016.

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