Newport News, VA - According to York County real estate agent Erin Melton with The Melton Team at RE/MAX Peninsula, potential Newport News Real Estate buyers may be wise to take advantage of historically low interest rates by purchasing a home now.
With rates at record lows, she says she's seen 30 year fixed rates as low as 4% recently. She says this could mean payments of only $1145 for a $300,000 home financed conventionally. Melton says the 15 year fixed rate is even lower, coming in at 3.25% in some cases.
"There's no question that this is a period of exceptionally low rates. Most mortgage professionals agree there is only one way for rates to go, and that is up."
She says that those who are able to purchase a home in today's market are likely to reap the double benefit of buying at historically low prices on York County real estate and low interest rates. As a result, she's seen an increase in the number investors looking for York County homes such as Williamsburg real estate and other nearby towns.
Aside from the low interest rates and prices, there also may be tax benefits from buying a home, but she recommends that individuals contact their tax advisors to learn more about different tax strategies.
"No matter how I look at this real estate market, I see opportunities."
For more information, please contact:
Erin Melton, REALTOR®
The Melton Team with RE/MAX Peninsula
825 Diligence Drive, #126
Newport News, VA 23606
Cell: 757-784-1358
Fax: 866-737-9752
Email: meltonteam@gmail.com
Web: http://TideHomes.com
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