According to Alamo, California’s Timothy Powers, there’s good news for those living in the western region of the United States. Home sales jumped more than eighteen percent in August—twenty percent higher than last year at the same time. Alamo’s Timothy Powers sees this as good news for the country as a whole, pointing out home sales are up nationwide. The problem, notes Timothy Powers of Alamo, is that median home prices are lower than ever, meaning many homeowners are probably taking less than they would like.
One of the main reasons home sales are slow right now is fear, foreclosure expert Timothy Powers of Alamo theorizes. With the economy so shaky, Alamo’s Timothy Powers explains, Americans are afraid to make any bold moves. They wait, putting off selling and buying homes until things get better, but as Timothy Powers of Alamo points out, the evening news keeps predicting doom and gloom, perpetuating the problem.
While the unemployment rate recently dropped slightly, according to Labor Department reports cited by Timothy Powers, Alamo citizens are still uncertain. Despite these reports, for the average resident in Alamo and around the county job security is still an individual concern, Timothy Powers of Alamo reports. Until the economy stabilizes, Alamo’s Timothy Powers believes many Americans will still be concerned about the sudden loss of employment. We are now facing the lowest national home ownership rate since the 1940’s. says Tim Powers of Alamo.
Alamo resident and businessman Timothy Powers points to Fannie Mae’s maximum limit of $625,500 in northern California. Unfortunately, for northern Californians, the average home price is still above $500,000, leaving many homebuyers unable to secure the loan money they need, Timothy Powers of Alamo explains. Still, California’s houses seem to be holding their value better than some other states. According to Timothy Powers of Alamo, a 2011 report by CBS ranked Idaho, Arizona, Florida, Michigan, and Illinois as the five states with the highest home depreciation.
With more than twenty years of experience in real estate, Timothy Powers of Alamo often encounters the question, ‘Why buy now if prices could come down?’ To that, Alamo’s Timothy Powers answers that the market could just as easily go up. Most experts agree that now is a great time to buy, Timothy Powers of Alamo says, with prices likely to increase in the next few years. Plus, as Alamo’s Timothy Powers points out, now is a great time to get an unprecedented deal on a house, as well as help the U.S. economy.
Alamo’s Timothy Powers runs East Bay Foreclosure Support, a company that provides free foreclosure advice to individuals going through illness or military deployment. Assistance can be provided by telephone or in person. For more information, call 925 855-1810 or go online to www.timothypowersalamo.com