Purchasing a home is one of the most important decisions in a person’s life. According to data from the National Association of Realtors® (NAR), eighty-seven percent of U.S. households believe homeownership is part of their American Dream. Deciding on a particular home to make this dream come to fruition comes with many choices. Buyers throughout Long Island and Queens will have the opportunity to see these options in person on April 9 and 10, 2016, as Realtors® hold open houses all weekend long as part of the 7th Annual Long Island and Queens Realtor® Open House Weekend, hosted by the Long Island Board of Realtors®, Inc. (LIBOR).
Spring is typically a busy season when it comes to real estate; and this year is no exception. Recent housing and economic reports predict we'll see solid spring home sales. Indicating factors include: job creation - January saw 151,000 jobs created and unemployment is now near 10-year lows; existing-home sales crept forward in January to the highest annual rate in six months, and low inventory caused the fastest increase in prices since last April, according to NAR; the low mortgage rates of the season are improving home buyer affordability and may prove a strong motivator on why buyers shouldn't wait to purchase a home.
Seasonally, spring is a time when more properties become available and when buyers are most active. Open houses are a key to success in the spring market, and are a boost to spring home-buying activity. Many homeowners choose this time of year to sell their homes as it is vacation time and there is nicer weather. Buyers are often reluctant to uproot themselves while their children are in school and when the weather makes moving difficult. Given the number of houses on the market during spring, it can be an optimal time for house hunting. During Realtor® Open House weekend, buyers can have a greater chance of finding the home of their dreams.
Realtors® will be present at the open houses to offer expert insight into the local housing market and answer questions from consumers concerning the home buying and selling process. There will be thousands of open houses for consumers to attend throughout Queens, Nassau and Suffolk Counties. In an effort to motivate would be buyers to attend participating open houses that weekend, LIBOR will be giving away $1,000 to three (one in Queens, Nassau, and Suffolk) lucky Open House attendees. Although there is no purchase necessary to enter the sweepstakes, we hope that the recipients use the funds towards the purchase of their new home. Visit www.lirealtor.com/hom for a list of participating offices in your local area.
“April 9th and 10th marks this year’s Long Island and Queens Realtor® Open House Weekend. This event truly marks the end of winter and the beginning of spring for real estate sales in all of our communities. Buyers and Sellers agree this event is a wonderful opportunity to promote and engage for home sales and purchases across Long Island and Queens. said Mary Alice Ruppert, LIBOR President. “Our Realtor® Members devote a great deal of energy and promotion to this weekend-long event to facilitate bringing potential buyers and sellers together. This is the single largest Realtor®/Consumer event in our area that allows potential buyers to engage experienced professionals to assist them with their dream of homeownership.” added Ruppert.