Workshop to Help First-time Homebuyers

JACKSONVILLE, FL -- The housing market is still feeling the effects of the recession. Home prices in Duval County dropped 15% in the last year.

According to Wight Greger, the Director of Housing and Neighborhoods for the City of Jacksonville, the average price for a home in the River City is $160,000. She says that's lower than it's been in recent years.

Despite the gloomy outlook, this is a buyer's market. If you want to buy a home, now is the time. It's especially a good time for first-time home owners. Greger says interest rates are lower and home prices are lower.

The City of Jacksonville is offering down payment assistance for qualified first-time homebuyers. There will be a workshop Saturday morning starting at 8. Greger told First Coast News, "It will be eight hours jam-packed full of information."

First-time homeowners will get energy efficiency tips, learn about on-going maintenance for their home, get financial tips that will help them stay in their homes and so much more.

This workshop is the first of three. Greger says it is for people who want to close on a home in the next two months.

The financial assistance is being provided through the Florida Homebuyer Opportunity Program (FHOP). It was created during the 2009 legislative session to provide $30 million in financial assistance to first-time homebuyers who are eligible to get the federal first-time homebuyer credit.

Greger is optimistic. She believes things are looking better for the housing marking. "We are seeing some positive movement. Loan closings are picking up, which means more people are buying homes." Greger also said more people are starting to pull permits for housing.

If you are not near closing on a home, Greger has some tips to help potential homebuyers. First of all, you should know how much you can afford. She says you should also know the true cost of being a homeowner. Another piece of advice: Greger says it is important to know if you are ready to own a home.

For those who have decided homeownership is the way to go, you can attend the Home Buyer Workshop. It will be held at the Housing Partnership of Northeast Florida (4401 Emerson Street) Saturday. It is free.

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