If you are thinking about buying a vacation home or investment property in Maryland or Delaware now or in the very near future, then you’re on the right track.
Ryan Haley, broker and owner of Atlantic Shores Sotheby’s International Realty, shares his view on why today is the perfect time to buy that vacation home in the Delmarva area.
You will be able to take advantage of better interest rates if you are going to purchase a real estate property somewhere in Ocean City, Ocean Pines, or other areas in Delaware and Maryland.
Interest rates are slightly better right now than they were a month or two months ago. This is a result of the action of the federal government to remove the 7% cap.
Buyers, however, will still need to remember that every loan has limitations, and every bank has its willingness and appetite for risks.
The other thing important thing to note is that, in general, the experts are predicting that interest rates are going to rise over the next few months. This is another reason to take the opportunity if you have been thinking of obtaining a property in the resort and vacation real estate market.
If you’re thinking of finding and buying that vacation home you’ve been planning to own, give us a call and let us help you today.