National Open House Day

The door is open all over the country
Local Realtors participate in National Open House
by Andrew Kirk, OF THE RECORD STAFF
Posted: 04/06/2010 04:41:08 PM MDT

Go on in all Utah Realtors are encouraged to hold open houses this Saturday.
When the federal home-buyer tax credit was about to expire last November, there was a spike in real estate sales nationwide. On April 30, the extension will expire so the National Association of Realtors is promoting a day of open houses on April 10.

Lerron Little, president Utah Association of Realtors, said about 31 states are participating and it's a great opportunity for Realtors all around to combine marketing efforts. Local consumers will be able to see a variety of real estate product in a condensed fashion.

He compared the day of open houses to a Parade of Homes (the Park City area hosts a Showcase of Homes) in which people get great access to see the product on the market and what values are available.

Purchase contracts must be approved and signed by April 30 and deals closed by June 30 to take advantage of the tax credit.

"It's an important deadline," he said. "It's beneficial to home sellers and those purchasing to know about the incentive."

Mark Seltenrich, president of the Park City Area Board of Realtors, said experts are expecting the April 30 deadline to again spur home sales. The open houses are a great way to combine marketing efforts and remind people of the deadline.

Participation in the program is completely voluntary, but the board's CEO Sharon Woodbury said initial inquiries suggest there will be good participation from the largest firms.

A list of accessible properties can be viewed at www.ParkCityOpenHouse.com and Woodbury said she expects even more participation than what is posted.
The state's list is at www.UtahRealtors.com .

On any given weekend there are several open houses in Summit County and people house hunting, Seltenrich said. But this unique opportunity to see so many homes on a given day will make people better-educated shoppers.

If someone has been on the fence about a property, getting a better understanding of the market and pricing will hopefully prompt them to take action before the federal deadline, he said.