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8757 Georgia Avenue, Suite 600 Silver Spring, MD 20910 Phone: 301.590.2000 Fax: 301.590.2248 www.gcaar.com |
FOR IMMEDIATE RELEASE
June 20, 2008
Contact: Meredith R. Weisel, VP of Public Policy Maryland & Legal Counsel
301.590.8790
mweisel@gcaar.com
This is not the time to place further restrictions on the housing industry, on the contrary-- it's time to promote buying and selling! That's the message the Greater Capital Area Association of REALTORS® conveyed in its testimony earlier this week regarding proposed infill legislation introduced by Councilmember Roger Berliner. Rather than simply criticizing Berliner's proposal, GCAAR 2008 President Dennis Melby countered with a proactive plan designed to boost home sales countywide.
"Today many homeowners are experiencing declining values and nail biting waits for purchasers who are skittish about the economic climate," said Melby. "As REALTORS® we want to protect property rights and property values." Therefore, Melby suggested to the Council that instead of passing more restrictions on homes, the Council should be looking at providing incentives for buyers through a local homeownership stimulus package. Melby stated that the stimulus package should include: (1) a purchaser's tax credit with a set expiration date to encourage people to buy a home now, when prices are a little more affordable; (2) a recordation tax holiday for certain price ranges, to get things moving; and (3) a creative program that would assist county residents in purchasing foreclosed homes and provide relief for coping with increasing taxes.
Melby concluded by stating to the Council, "We want your legacy to be that you helped homeownership in Montgomery County when it needed help; instead of further restrictions, something progressive and proactive, to stimulate the economy. I certainly hope that's the path you take."
GCAAR is the voice for REALTORS® in Washington, DC and Montgomery County, Maryland. Representing more than 11,000 real estate professionals in the greater capital area, GCAAR provides numerous services vital to its members' daily business needs and works with lawmakers to ensure public policy that encourages home ownership.
