REALTORS® Applaud Gov. Christie's Stance on Eliminatin Realty Transfer Fees from New Jersey
On April 15, 2014, at a town hall meeting in Edison, NJ, Gov. Chris Christie said he would like to see realty transfer fees eliminated from New Jersey. The move would help all homeowners around the state, particularly those facing foreclosure or short sale.
According to NJAR, the housing market in New Jersey has shown positive growth the last five quarters, and eliminating the realty transfer fee would further help sellers, who would see those fees put back into their homes as equity. As the real estate market is a driving force of the state’s economy, the move would also stimulate growth in other retail markets.