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.
Andrew’s timing couldn’t be better. Prices in Florida are down $50,000 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 $170,000 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, but right now people can’t 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.
“It’s 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 the SHIP website.