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 July 21, 2009

National Association of Realtors Lobbies for Increased Housing Incentives
The NAR (National Association of Realtors) recently gave testimony on Capitol Hill to the House Committee on Small Business stating their belief that a sound real estate sector which runs smooth is critical to the continued economic growth of the country.
NAR President Charles McMillan stated that government provisions targeted at the stabilization of the country's real estate markets assist small business and in turn help the country's communities to prosper.

To date, this year's stimulus legislation has shown to be helpful to owners of small businesses.

Three provisions that are currently working are:

-Small business loan programs
-The first-time home buyers tax credit
- The elimination of mortgage cancellation taxes

The NAR has asked Congress to consider the extension of the current first-time home buyer tax credit beyond its December expiration date, citing that it would only benefit more families in the achievement of their dream of home ownership.