National Open House Weekend Beckons Buyers
The streets will be full of Open House signs this weekend, April 10-11, as sellers across the nation open their doors for the first Realtor Nationwide Open House Weekend. The nationwide event was organized by small and large realtors across the country in an effort to jump start the spring buying season and breathe fresh life into the housing market. More than 30 states are participating.
The open house extravaganza comes at a good time for buyers. With the First-time Homebuyers Federal Tax Credit set to expire at the end of the month and mortgage interest rates at record lows, having more homes available for viewing will help those looking to find their dream home. Buyers that can move quickly could reap big benefits - to the tune of thousands of dollars in credits.Under the Federal program, first-time homebuyers can get up to an $8,000 tax credit, and repeat buyers up to $6,500. However, in order to qualify, contracts have to be signed by April 30, 2010, and the home purchase completed by June 30, 2010. Californians may be eligible for an additional $10,000 state tax credit as well.
Spring is a time of hope and renewal, and Realtors are doing what they can to get a jump on the season and encourage people to get out and look, and maybe even buy. (We only hope lenders got the memo).