With signs of the housing market recovering and favorable affordability conditions, this year’s spring buying season has the potential to be a busy one.
Buyers in the Greater Chattanooga area will have the opportunity to jumpstart the buying season on April 20 and 21 as Realtors hold open houses all weekend long as part of the Realtor Nationwide Open House Weekend.
During that weekend, Realtors across the country will hold thousands of open houses from coast to coast, bringing attention to the many benefits of homeownership, as well as providing an opportunity for them to connect with consumers in the local community about housing issues that matter most to them. Realtors will also be available to answer questions and provide insight on the local housing market and the home buying process.
Forty-five percent of recent buyers used open houses as a way to find their dream home. Realtor Nationwide Open House Weekend is a great chance for buyers to do just that, as well as get an idea of what they can afford in the local market. It’s also a good time for sellers to market their home and attract potential buyers.
Open houses have traditionally been a helpful tool for buyers, however the National Association of Realtors’ 2012 Profile of Home Buyers and Sellers shows that some buyers prefer them more than others. For instance, repeat buyers are more likely to use open houses than first-time buyers, as are buyers who were not born in the U.S. or whose primary language is not English. NAR also reports that older buyers rely more on open houses than younger buyers, and buyers with higher incomes are more likely to visit open houses.
Realtors visit hundreds of homes with buyers each year, and have a unique understanding of what buyers want and can get for the price in our local market. Realtors understand that home is where we make memories, build our futures and feel comfortable and secure. It’s an investment in your future and we are here to help you achieve those dreams.
The Greater Chattanooga Association of Realtors believe open houses can also give buyers a clear idea of what features are important to them in a home. According to NAR data the typical recently-purchased home was 1,860 square feet and was built in 1996. The typical buyer purchased a home with three bedrooms and two full bathrooms, while slightly half of the homes purchased were on a single level.
When it comes to home features, buyers prefer central air conditioning the most, while walk-in closets were second. The two most common rooms buyers were willing to spend more for were a laundry room and a den/home office.
Contact a Realtor today to learn which houses will be held open on April 20-21.