Real Estate Agents In Florida Claim Victory For Hometown Heroes
Even though these last two years have been among the most difficult times, several crucial workers in Florida such as teachers, nurses, as well as first responders are relentlessly working every day, with huge risk to their personal well-being in ord
- Apr 27 2022
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This assistance came at one of the best times ever.
Even though these last two years have been among the most difficult times, several crucial workers in Florida such as teachers, nurses, as well as first responders are relentlessly working every day, with huge risk to their personal well-being in order to keep us away from the hospital.
However, these professionals are helpless in the face of the continued rise in the Florida housing market, which has made it difficult for homeowners to afford them.
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Realtors in Florida, as well as the Legislature collaborate to provide assistance of about $100 million that would launch the Florida Hometown Hero Housing Program. This is a loan program established to provide relief on down payments and closing expenses. It offers loans of about $25,000 and up to about 5% of the initial mortgage.
The program has been integrated into the state’s budget, but requires the signature of Governor Ron DeSantis to make it possible for police officers, nurses, teachers, firefighters, EMTs as well as their families to achieve their dream of owning a home. This help came at a much-needed period.
Numerous hardworking Floridians can now achieve the once unattainable dream of owning a home. Generally, the price of homes has risen since 2016. This is even worse in some states, for example, the cost of a median home in Fort Myers is about $410,000, in the Sarasota-Bradenton area goes for about $458,000, South Florida for about $530,000 and Naples area for a whopping $700,000.
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There is a significant increase in home prices in almost every community in the state and the majority of these vital workers are unable to afford them. Real estate agents in Florida, as well as their members in other states are ensuring that the Legislature pushes these numbers and the lawmakers implement a new solution that would be viable and beneficial to many of these vital workers. A constitutional amendment has also been proposed by the Legislators, which on approval by voters will enable many of these vital workers to have access to additional property tax exemption by allocating about $262 million for current affordable housing programs to make it the biggest affordable allocation program that existed in a while.
The president of Florida Realtors, Christina Pappas stated that the three crucial programs will be beneficial to several brave workers to achieve their dream of becoming a homeowner, and the effort of the Legislature two years after the pandemic shows the significant advancement that would be beneficial to the vital workers in getting a home, especially within the communities they work in, as well as helping those who already have a home, to retain it.
These programs will be an addition to the current federal, state, and local affordable housing programs already available, to boost the aid accessible to its recipients.
Pappas continued, that even though there is still a lot to be done regarding making homeownership accessible to Floridians, the Legislature had made a huge impact this year and other members of Realtors in other states will continue to ensure that similar initiatives would be integrated into the federal, state and local level.
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