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Florida Real Estate - Making Housing Affordable

There is a lot of talk about the next big boom heading to the Florida real estate market. Have you heard? So much of Florida real estate, especially near the beaches, has appreciated so highly that it is hard for working families to buy a home. For the past years, I have heard from numerous sources that the greatest opportunity is near the Emerald Coast communities in the Florida Panhandle. Much of the workforce for these communities have been pushed to rural areas and to cities as far away as Dothan, Alabama. So what is this big opportunity that we will see in the Florida real estate market? I suspect that we will begin to see significant development over the next few years of homes that can be purchased for less than $200,000. Affordable housing is needed to fill a Florida Panhandle demand that I have heard to be in excess of 10,000 homes! Now that is a growth market. The only "hitch" that is stalling this next boom in the Florida real estate market is funding. It is so hard to build affordable housing with the cost of land, sticks, bricks and labor so high. That is where some key programs offered by the government can come into play, luring investors and developers alike. A few key programs that I think will make the difference include:
  • The Multi-Family Mortgage Revenue Bonds (MMRB) Program
  • The CWHIP Program
  • The State Housing Initiatives Partnership (SHIP)
  • The State Apartment Incentive Loan Program (SAIL)
  • The Predevelopment Loan Program
  • The Home Ownership Pool Program (HOP)
  • The Housing Credit Program
  • The First Time Homebuyer Program
  • Florida Enterprise Zone
With just a little help from these programs and some wise investors, the Florida real estate market will be moving forward again, with the emphasis on affordable housing. I do not believe it is a matter of "if," rather it is a matter of "when."  
    As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible. Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market. If you like this Article then please subscribe to my blog through a full RSS feed. You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscribe to this blog and have it delivered by Email.   Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001. View Joe Manausa's profile on LinkedIn

Discussion

#1 By Joe Manausa at 7/11/2017 3:47 AM

Thanks for stopping by Robert.

#2 By Robert Krames at 7/11/2017 3:47 AM

Indeed the market is going to change significantly very soon. In some areas it already has. There are some communities here in gainesville slashing prices by as much as 50000 on new homes!

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Joe Manausa Real Estate
2066 Thomasville Rd
Tallahassee, FL 32308
(850) 366-8917