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Sunday, April 11, 2010

Biggest Sunday of the Year? Today!

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:

. Last weekend, Easter, was an off-day. Today will benefit from pent-up demand.

. The tax credit for Buyers expires April 30.

. 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).

. 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.

. 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.

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