Open Houses Galore
Clients often ask if a particular Sunday is a good time to hold an open.
I don’t forecast home prices or interest rates, but I’m going to go on record with this prediction: today, April 11, will be the busiest day of the year for open houses (the “retail” kind; broker opens — the “wholesale” version — are held each Tuesday).
I can think of at least five reasons for that:
One. Last weekend, Easter, was an off-day. Today will benefit from pent-up demand.
Two. The tax credit for Buyers expires April 30.
Three. Realtors like to hold opens on days when they know there will be lots of other opens; that way, they can piggyback on all the other marketing out there (see Edina Realty’s ad at upper right).
Four. At least in Minnesota, the Spring market doesn’t start in Spring, it starts in February, right after the Super Bowl. So, we’re now well past the mid-point.
“Crunch Time”
Buyers of family homes in particular like to make their purchases by Memorial Day, so they have time to close by mid-Summer and be unpacked and in place for the school year.
Sellers of family homes know that, too, which is why now is crunch time for doing a deal.
Five. Nice weather!
Personally, I’ll be doing an open house double-header.
Please stop by my open at 4121 W. 28th St. (28h and Inglewood) in St. Louis Park’s Fern Hill neighborhood from 12:30-2:30 p.m.
Or, come by my open at 1340 Fairlawn Way in Golden Valley from 3-4:30 p.m.
