Home sales are on the rise in Florida! The first quarter of the year shows that the homes sales in Miami,Miami-Dade County alone, have jumped 72% and condominium sales rose 51%, according to the Florida Association of Realtors (FAR).
In addition to the tempting low home prices, the low interest rates and the $8,000 first time home buyer credit, there is a new program that was approved by the Florida Legislature; The Florida Homebuyer Opportunity Program. This program will allow first time home buyers that are approved for the tax credit to apply for down payment assistance with the amount borrowed to be repaid once their credit money is received.
The program will begin on July 1st; however, the tricky part is that you must close on your home before November 31st to receive the first time home buyer tax credit. Although this is one more reason to purchase your first Florida home, you need to get the ball rolling now to qualify for all the wonderful incentives that are available to you.
