If you are currently trying to sell your home in Florida and it is around the two hundred thousand dollar mark, you may be interested in a new piece of legislation brought in to Orange County. They are going to give away money to certain first time buyers wishing to buy a house in this price range. Lower income groups have the best chance and the home must not be over two hundred and nineteen thousand dollars.
This incentive is more about keeping the young people in Florida than it is about the condition of the Florida real estate market. Eight hundred people a day can’t be wrong about moving to a better life in Central Florida. That is how many people are trekking there each day to enjoy the good life, but many of them are already retirement age.
Real estate is still moving in Florida. Developers are still building new homes and there are even the odd builders offering incentives such as paying closing costs or offering big bonuses. These deals are an attempt to cash in on what is suspected to be the last few chances at the low mortgage interest rate.
Not only are mortgage interest rates expected to rise soon, but the spring time is the usual time for people to buy a new home. This means that these ‘deals’ may not last for long, especially with an influx of first time buyers eagerly looking to spend government money.
Florida is offering help to first time buyers by paying the down payment on their home. The purchase price of the home cannot exceed a certain amount, and you must stay in the home for a minimum of fifteen years without re-financing. If you do wish to move, then it is easy to do so, but the interest free loan must be paid back straight away.
This is also good news for anyone who wishes to sell a modestly priced house in Florida, and if that is you then this government deal can work in your favor.
Ask your real estate agent to get all the information that is needed from the department concerned, and keep the paperwork available in your home. When your prospective buyers come and look at your home, it may mean the difference between a sale or not!
This is a smart move on behalf of the government of Florida, and it follows a recent report on population changes in Boston, Massachusetts.. Boston has recently announced that its house prices are so high that a mass exodus of young people from Boston has put the city in the position of having a very low man power base in terms of the future.
As 17% of Florida’s population is in the retirement bracket, it is a smart move for Florida to ensure that it is not left in the same dire straits. It is also great news for anyone who was thinking of putting their house on the market at under the $219,000 price range.
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