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Home Sales Up, Prices Down

May 28th, 2009 by flanews

Statewide home sales rose 18 percent last month. To keep the momentum, the state has set aside 30 million dollars in down payment assistance for first time home buyers. As Whitney Ray tells us, starting in July the state will advance an 8,000 dollar federal tax credit to people buying their first home.

After 10 years of renting Andrew Kadunc is ready to own.

I started looking around and I saw that a lot of places fell into my price range, said Andrew.

Andrews timing couldnt be better. Prices in Florida are down 50-thousand dollars from a year ago and remain below the national average.

The price right now is 140,000 in Florida compared to the national one being 170-thousand and Florida is still the best place to live compared to other states,
said Vani Ungapen a researcher with the Florida Association of Realtors

Thursday Governor Charlie Crist signed off on legislation giving home buyers more incentive to act now.

The state is offering money to first time home buyers money to help with their down payments.

30 million state dollars has been set aside to advance a federal tax credit to first time home buyers. The credit is worth up to 8,000 dollars, but right now people cant get the money until they file their taxes.

Andrew says getting the money up front will go a long way in helping him make a decision.

Its definitely going to help bring the purchase payment down and therefore make my mortgage payments lower, said Andrew.

The money will be availed starting July 1st. People taking advantage of the advance will then have to repay the state when they receive their tax refund.

The money will be available through the State Housing Initiatives Partnership or the SHIP program. SHIP has an office in every Florida county. To find an office near you go to our website. http://www.floridahousing.org/Home/HousingPartners/LocalGovernments/

Posted in Charlie Crist, Housing, State News | 1 Comment »

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