Florida real estate agent Jeff Tricoli says low interest rates are helping make Wellington homes very attractive to interested buyers he's spoken to.
Online PR News – 12-June-2020 – WELLINGTON, FL – Florida real estate broker Jeff Tricoli says the Federal Reserve's low interest rate stance, along with cooperation from the 30 year bond market, are helping make Wellington homes very attractive to interested buyers he's spoken to.
He says Wellington, nestled south of Royal Palm Beach and west of Lake Worth, is one of the most desirable locations in the Palm Beach area, with property values rising nearly 2% in the last year.
"People really want to be in Wellington, it's a fantastic community with beautiful homes, great shopping and restaurants, and great schools," he said.
According to current Multiple Listing Service (MLS) data, Tricoli says the median listing price for homes in Wellington Florida is approximately $529,000.
"On a home of that price, a small percent interest rate change makes a significant difference in the mortgage payment," he said. "With our current low interest rate environment, it is opening doors for a lot of my homebuyers."
He says that a home in this price range could have an $1900 mortgage at an interest rate of about 3.5%, but a small decrease to 3.125% brings the payment down to about $1800.
"We don't know what the interest rate environment is going to look like in the forward," Tricoli says. "But we know what it is right now, and it is great for buyers. For those who want to purchase a home in the Palm Beach area at these record low interest rates, you might be wise to do so."
About the Tricoli Team
Born and raised in Palm Beach County, Jeff Tricoli obtained his undergraduate and Master's degree from Florida Atlantic University. He has been in real estate for over 15 years, and is an expert in the local real estate market.
Jeff and his team regularly handle transactions for buyers and sellers alike, providing experienced advice and representation. He brings expert marketing skills as a sellers' agent, with many of his own websites to promote his listings. He's also a tireless buyers' agent, listening closely to clients' needs to find the perfect property to match their lifestyle.
Jeff Tricoli REALTOR®
Keller Williams Realty
12008 S. Shore Blvd.
Wellington, FL 33414