Weekend to provide opportunity for buyers to learn more about
– June 2, 2011 – With the spring home buying market in full swing, homebuyers can visit some of the many open houses throughout the state, June 4 and 5, as part of REALTOR® Nationwide Open House Weekend. Many of the open houses at all price levels on this special weekend can be found at www.maRealtorOpenHouse.com
This event will give you a good start on the home buying process by allowing you to see many more open houses than are typically available on any given weekend,” said Massachusetts Association of REALTORS® 2011 President Laurie Cadigan, broker-owner of Barrett & Company in Concord. “We haven’t seen affordability levels this low in a very long time, but to take advantage of this market, it is key to know what you can and cannot afford. For many buyers a good way to do this is to get out from behind the computer screen and step into a home that is for sale.”
MassHousing, the state’s affordable housing bank, has also endorsed REALTOR® Nationwide Open House Weekend in Massachusetts for buyers who qualify for their safe and secure loan programs.
“The REALTORS® are rolling out the red carpet for people who are thinking about buying a home and MassHousing is right there with them ready to lend at terms that can’t be found anywhere else in the market,” said Tom Gleason, Executive Director of MassHousing, the state’s quasi-public affordable housing bank. “When you combine low home prices with low interest rates and MassHousing’s low downpayment requirements and job-loss protection insurance, it all adds up to a unique opportunity for home buyers.”
This second annual event gives buyers at all levels a stress-free way to see a wide range of homes for sale and learn more about home ownership. This includes learning about the buying process and the local real estate market to information on the local community. REALTORS® are also a good source of information on housing issues at the local, state and federal levels that may impact current and future home owners. For sellers, the weekend will provide additional exposure of their homes to interested buyers.
For the Massachusetts and nationwide economies to continue to improve, the real estate market must be part of it. It is estimated that for every two homes sold, one private-sector job is created. Also, each home sale at the median price pumps a total of $60,000 into the economy over time.
Fully 80% of Americans believe buying a home is a good financial decision (according to a survey by the National Association of REALTORS®) and two-thirds of survey respondents said they believe now is still a good time to buy. A majority of renters also said that owning a home is a priority in their future.
Housing (and the desire to own a home) is not the only thing that will restore the economy, but it will play a critical role.
About the Massachusetts Association of REALTORS®:
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 19,000 members and the leading advocate for home ownership in Massachusetts. The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.
Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook.