Hey there!Thought I'd jump right into my blog and share a few quick thoughts to help you in your search for a home, whether it's your first or your fifth. With all the information out there it
Double Squeeze Possibility Incites Youngsville Homes For Sale
There hasn’t been a call for “All Hands On Deck!”—but if we start seeing an influx of Youngsville homes for sale ahead of this spring’s peak selling season, it’s not hard to guess why. There may not have been any conspicuous heads-up for homeowners, but thoughtful deductions based on the news might prompt just such an effect.
At point is the possibility of a coming “double squeeze” for homeowners on the move. If it happens, there could be a decrease in the total number of Youngsville homes for sale because of what sellers face after they have given up their current residence.
The steady flow of good news about the national economy has clearly been the main culprit. Last week’s release of the Federal Reserve’s minutes from last month’s meeting revealed the Governors’ recognition of stronger growth than had been forecast. Per CNBC, that news “confirmed that a gradual increase in the Fed Funds rate would be appropriate...” MarketWatch agreed that the Fed was “on track for 3 rate hikes” this year—but placed a strategic question market about the possibility of 4.
When the experts’ only uncertainty is whether there will be a fourth rate hike this year, the likelihood that Youngsville homeowners could face a double squeeze becomes hard to ignore. A double squeeze forms when sellers’ Youngsville homes for sale draw fewer eligible buyers qualified to pay the higher mortgage payments. They will sell eventually, but then face the second part of the squeeze, when they, too, face stiffer terms for any new home’s mortgage payments.
One possible scenario leads to fewer homes being put on the market in the first place, which leads to (what else?) even higher prices…
If Youngsville homeowners haven’t heard much about this phenomenon, my guess is that it’s because we’ve been swaddled in such a comfy interest rate cocoon for so long, the whole issue has migrated to the back pages. By some calculations, today’s typical mortgage payments are more than 36% lower than the all-time high reached in 2006.
Yet if prognostications prove to be correct, the reality for Youngsville homeowners with a hankering to move on is that when it comes to the bottom line, now is absolutely the best time to act—with later being next best, and still later next best after that—and so on. In any case, it should certainly be worthwhile to discuss possible courses of action. I’ll be here by the phone, ready to chat!
Ted M. Daigle
About Ted Daigle – Realtor Having the right real estate agent means having an agent who is committed to helping you buy or sell your home with the highest level of expertise in your local market. T....
Latest Blog Posts
There is plenty of real estate terms used in transactions. Needless-to-say it can be confusing for both buyers and sellers trying to navigate the process. The home loan process might feel
For Lafayette real estate watchers on the lookout for the latest trends, here’s some food for thought. According to last week’s Wall Street Journal, it’s one formerly overlooked
Successful pricing strategies in any endeavor must take the competition into account—so when it comes to right-pricing your Lafayette home, that factor is at least as important as any