Political Quotes

“I rise today in support of the Homebuyers Assistance and Improvement Act of 2010. The first-time home buyer tax credit has helped bring stability to the struggling housing market in southern Nevada. In total, over 25,000 Nevadans have collected about $200 million from the credit, which has dramatically reduced the State's excess housing inventory. In southern Nevada, short sales have become more and more common as lenders and owners are able to avoid the arduous and costly process of foreclosure, and buyers can then purchase homes slightly below market value. In many cases, although a purchase price is agreed to by the seller and the buyer, the lender may not approve the sale for months. As a result, many first-time home buyers have entered into agreements for short sales prior to the April 30 deadline, but have not yet been able to close on the purchase prices prior to the upcoming June 30 deadline. According to local experts, the Homebuyers Assistance and Improvement Act of 2010 will extend to October 1, the date by which a purchaser must close a sale of a home in order to obtain the home buyer tax credit.”