November 9, 2009

Mr. Arnold M. Levine

3111 Camino Del Rio North, Suite 400

San Diego, CA 92108

Dear Mr. Levine,

Thank you for taking the time to share with me your support for extending the home buyer tax credit.  I appreciate hearing from you on this important issue.

You will be pleased to know that Congress recently passed legislation extending the first-time homebuyer tax credit.  In areas harder hit by the housing crisis, such as San Diego, the credit has been especially valuable.  In fact, nationally, we saw home values actually increase during the month of May for the first time since 2006 - with a .5 percent increase in San Diego.  The tax credit likely helped encourage the turnaround.

I joined with a number of my colleagues calling for an extension.  In a letter to Congressional leadership, we highlighted the positive impact of the credit and stressed the need to continue the rebound in the housing market.  Not only is the credit good for the economy, it is also helping families purchase homes.  It only makes good sense to continue the success we have seen with the first-time homebuyer credit.  I'm pleased Congress and the President recognized the need and took action.

Once again, thank you for contacting me.  As your representative, I both need and value your perspective.  Please sign up for my E-Newsletter on my website, www.house.gov/susandavis, if you would like to receive monthly updates about what is happening in Congress.

With warm regards,

SUSAN A. DAVIS
Member of Congress