Group Organized to Educate Hispanics on Florida Home Loans, Housing Market

More than any other state in the nation, Florida benefits from an influx of Hispanics to drive its home sales. Unlike American buyers - who rely on real estate agents and various form of financing - this demographic actually considers it a dishonor to NOT pay cash for a house.

Compared to the process in the United States, buying a house is a much bigger challenge in South America. Individuals from that area are not familiar, for example, with a Florida home loan contract, nor are they comfortable revealing financial information.

With this in mind, the newly established Lee/Collier County chapter of the National Association of Hispanic Real Estate Professionals’ goal is to educate and ease Hispanic immigrants into the American homebuying process.

Tuesday, at the Southwest Florida group’s second meeting, 19 members voted for board members and began planning for the next monthly meeting. Members pay a $99 yearly membership fee.

The aim of this housing service

Hilda Luisa Diaz-Perera, the newly elected chapter presiden, said the time was right for such a formation. The presence of Hispanices continues to grow in Lee and Collier counties. Meanwhile, there are already chapters in the Orlando and Tampa housing markets.

In her candidate’s speech before the secret ballot, Diaz-Perera pointed out that 40 percent of Collier County School District students are Hispanic.

Chapter Vice President Juan Alvarez said that Hispanic home owners probably will make up 25 percent of the local population by 2010. In Lee and Collier counties, Hispanics made up about 12.5 percent of each county’s population, according to 2000 U.S. Census data. The percentage has grown since the census.

There has been a steady influx of South American immigrants into the area, she said, “but the thing is whenever there is a political change in a country, some people flee and move to Southwest Florida.” They’re seeking affordable Florida home loans, along with refuge.

Origin of new Florida home loan seekers

Lately, Hispanic immigrants are coming from Venezuela and Colombia, said Diaz-Perera, who is a broker for GoldenCoast-CostaDorada. The state’s proximity to many South American countries and its bilingual residents make Florida mortgage loans an appealing choice for immigrants, she said.

The Lee/Collier County chapter also wants to establish a greater Hispanic political presence. Diaz-Perera said that while there is a significant Hispanic population, only a small fraction is registered to vote.

One of the changes Alvarez hopes to see involves revising zoning restrictions to allow for more affordable, multiple-unit housing complexes. It’s also very important, of course, to make sure Florida home loan rates are NOT based on race and/or ethnicity.