N.J. Realtors: More Focus Needed to Revitalize Real Estate Industry

EDISON — New Jersey Association of REALTORS Executive Vice President Jarrod Grasso, issued the following in reaction to Gov. Jon Corzine’s State of the State address to a joint session of the New Jersey Legislature on Tuesday, Jan. 13:
According to a release, “It is evident the economy needs to remain our lawmakers’ singular focus. While Gov. Corzine and the Legislature took steps in recent months to stimulate the state’s lagging economy, more focus needs to be put on revitalizing New Jersey’s real estate industry. When a home is sold in New Jersey, income generated from real estate related industries and additional expenditures such as furniture and appliances totals nearly $40,000. When a home is sold in New Jersey it means job creation, more revenue for the state, and a better quality of life for our residents.
“Without a doubt, New Jersey’s fiscal health is dependant on the stabilization and growth of the housing market. We are hopeful that our participation on the Real Estate Advisory Board will lead to legislative remedies aimed at strengthening and boosting this vital industry. NJAR eagerly awaits for the state budget process to get underway and stands ready to assist our elected officials with crafting policies that achieve this goal, including rolling back the recent increases to the realty transfer fee and truly reforming our property tax system. These extraordinary times require extraordinary action. Gov. Corzine and the Legislature should not let this moment pass them by, they need to take bold steps to get our economy going again.”