THE INABILITY TO CLOSE A SALE BY JUNE 30TH DUE TO THE LACK OF FLOOD INSURANCE AUTHORIZATION IS FAR MORE IMPORTANT THAN A SINGLE COMMISSION CHECK. I CAN'T ESTIMATE THE NEGATIVE IMPACT TO THE ECONOMY, BUT PERHAPS NAR CAN. THIS ISSUE WILL AFFECT BUYERS, SELLERS, THE RECOVERY OF OUR INDUSTRY AND THE ECONOMY IN A MOST NEGATIVE WAY. I HAVE SENT IN MY LEGISLATOR LETTERS ON THIS ISSUE, HAVE YOU? DO IT TODAY!
IF CONGRESS FAILS TO ACT IN TIME, THE WHOLE HOME PURCHASE TAX CREDIT PROGRAM IS FOR NAUGHT. IN FACT, I SUSPECT THAT MANY DEALS WILL BE LOST FOR GOOD IF THE BUYER COUNTED ON THESE TAX CREDITS FOR FINANCIAL JUSTIFICATION.
I CALL UPON NAR TO BEGIN A LOBBYING EFFORT DIRECTED AT THE IRS, THE TREASURY DEPARTMENT AND THE IRS CONGRESSIONAL OVERSIGHT COMMITTEE TO ALSO PUT AN EXTENSION OF THESE TAX CREDITS IN PLACE TIED TO THE APPROVAL OF FLOOD INSURANCE COVERAGE EXTENSION. A LETTER CAMPAIGN TO THE PRESIDENT WOULD ALSO BE JUSTIFIED, AS THE ECONOMY CANNOT TAKE ANOTHER BIG HIT AT THIS TIME.
LET'S HOLD THEIR FEET TO THE FIRE ON THIS ISSUE!
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